Japan’s largest Initial Public Offering (IPO) of 2026 has not only revived the country’s listing season but also provided Go, a leading ride-hailing app, with substantial capital. The taxi-hailing giant plans to use this money to expand its robotaxi business and make strategic acquisitions.

The IPO raised ¥88.6 billion ($553 million), which Go intends to invest in research and development for autonomous vehicles and business expansions, including mergers and acquisitions both within and outside the taxi industry. This move comes as Japan faces a critical shortage of drivers due to an aging population, with the number of taxi drivers down by around 20% in recent years.

Go’s partnership with Waymo, Alphabet’s autonomous driving subsidiary, is central to its robotaxi ambitions. However, CEO Hiroshi Nakajima has stated that Go will not invest directly in autonomous driving systems, focusing instead on strategic coordination of the partnership. The company aims to begin fully autonomous operations when it validates its technology and receives approval.

Meanwhile, Go is exploring ways to give its traditional business a competitive edge by partnering with Kakao T, Alipay, and WeChat Pay, allowing inbound travelers from South Korea, China, and Taiwan to hail Go-affiliated taxis directly. The race for Tokyo’s robotaxi future involves other players too: Uber, Wayve, and Nissan plan to pilot their services in the city by late 2026.