Prospect of Unicorn Listings Attracts Japan’s Top Accountants

Japanese satellite startup Synspective Inc.'s shares hit a market capitalization of 68.7 billion yen ($433 million) when it went public in late December. KPMG Azsa reviewed the space technology company’s financial reports beforehand—part of a recent focus by top accounting firms seeking audit work with valuable new listings.

KPMG Azsa, the global firm’s local business, and its peers Deloitte Touche Tohmatsu, PricewaterhouseCoopers Japan, and Ernst & Young ShinNihon have performed financial audits for companies with the biggest initial public offerings on the Tokyo Stock Exchange over the past five years.

The Japanese government is trying to drum up more domestic ...