Sakana AI Prepares for Landmark IPO That Could Top Mercari’s Valuation

Generative AI developer’s listing could top Mercari’s valuation

Sakana AI is gearing up for an initial public offering as soon as next autumn in what would be the first by a Japanese AI developer. (Photo by Ino Shintaro)

REI NAKAFUJI and AKIRA YAMASHITA

November 9, 2026 17:00 JST

TOKYO/LONDON — Sakana AI, a Japanese artificial intelligence developer, is preparing for an initial public offering in Japan or the United States as early as autumn 2027, according to Nikkei. The potential listing could value the company at more than Mercari’s 680 billion yen ($4.3 billion), positioning it among the largest startup offerings in Japan.

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