Anthropic Plans $3.5 Billion Share Sale in Japan as Part of Nasdaq IPO

Anthropic plans to sell up to 552.9 billion yen, about $3.5 billion, worth of new shares in Japan as part of its public listing in the United States, according to a securities filing shown on Monday, November 2, 2026. Reuters reported the filing, which covers the Japanese leg of an initial public offering that will list the company on Nasdaq.

What the filing says

The company filed a securities registration statement with Japan's Kanto Local Finance Bureau, and the statement was posted on EDINET, Japan's disclosure system, on November 2. The filing sets an estimated ceiling of 552.9 billion yen, about $3.5 billion at the rate of 157.82 yen to the dollar reported by Reuters. The money raised from the new shares sold in Japan will fund working capital, operating expenses and capital expenditure, according to the filing.

The final amount will be set on the pricing date and could differ significantly from the ceiling, and the number of shares and the offer price were still undecided when the statement was filed. Mizuho Securities is the administrative lead manager for the Japanese sale.

How investors in Japan can apply

Investors in Japan will be able to apply through six firms, according to Nikkei reporting: Mizuho Securities, Goldman Sachs Japan, Mitsubishi UFJ Morgan Stanley Securities, Morgan Stanley MUFG Securities, Rakuten Securities and SBI Securities.

Nikkei calls the Anthropic ceiling the largest Japanese IPO offering ever by a foreign company. The same reporting cited figures from research firm I N Information Center showing that Japan's domestic IPOs raised a combined total of about 200 billion yen from April to September, less than half the ceiling Anthropic has set for its Japanese sale alone.

What the filing does not say

The filing did not state the size or the valuation of the full IPO. Reuters has reported that some investors have discussed a valuation of about $1.5 trillion for the company, but that figure comes from investor discussion, not from the filing itself.

Anthropic released its public Form S-1 on October 26, 2026. That document said the IPO includes public offerings in Australia, Canada, Japan, Switzerland, the United Kingdom and some European Economic Area countries, that the company does not plan a listing outside the United States, and that its shares will trade on Nasdaq under the ticker ANT.

A recent comparison

Reuters pointed to the SpaceX IPO in June, which it described as the world's largest ever. In that sale, investors in Japan secured shares worth $2.2 billion out of $75 billion raised. Anthropic's Japanese ceiling of about $3.5 billion is larger than the Japanese share of that record sale, which underlines how much of this offering is being directed at buyers in Japan.