Gumi Said to Plan Japan IPO at $1 Billion Valuation

Gumi Inc., a Japanese developer of mobile games, plans an initial public offering as soon as this year that may value the company at about 100 billion yen ($1 billion), people with knowledge of the matter said.

The company plans to submit a listing application to the Tokyo bourse as soon as August and sell shares as early as December, the people said, asking not to be identified as the deliberations are private. Gumi is working with Nomura Holdings Inc. on the offering, according to the people.