Key Facts
• August 29, 2025: Altz announced its delisting from the Tokyo Stock Exchange.
• Final stock price: 5 yen; market capitalization: 181 million yen.
• October 11, 2024: IPO price was 570 yen; market cap: 19 billion yen.
• July 2025: Altz’s fraudulent accounting practices were revealed.
• Altz inflated sales of its AI meeting software, “AI GIJIROKU.”
• Funds were recycled through advertising companies and sales partners.
• April 2025: Overstated revenue concerns emerged, leading to an investigation.
• July 2025: Third-party report confirmed fraudulent accounting practices.
• Total debt: Approximately 2.4 billion yen; civil rehabilitation process initiated.
Summary
AI startup Altz has been delisted from the Tokyo Stock Exchange following revelations of fraudulent accounting practices. The company’s stock closed at 5 yen on August 29, 2025, with a market capitalization of 181 million yen, a sharp decline from its IPO valuation of 19 billion yen in October 2024. Investigations revealed that Altz inflated sales of its AI meeting software, “AI GIJIROKU,” through circular transactions involving advertising companies and sales partners. The scandal came to light in April 2025, and a third-party report in July confirmed the misconduct. The company now faces civil rehabilitation proceedings with debts totaling approximately 2.4 billion yen.
