TMTPOST--Japan’s national and Tokyo governments are aiming for a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare for a potential initial public offering (IPO) by the end of October, according to three sources. This move would mark Japan’s largest IPO in approximately six years. The governments, which jointly own 100% of Tokyo Metro, plan to convene brokerage firms within the next week to discuss the IPO details. They anticipate receiving approval for the listing from the Tokyo Stock Exchange as early as mid-September. If the IPO proceeds as planned, with half of Tokyo Metro's shares being sold, it could raise around 350 billion yen. This would surpass the Kokusai Electric IPO from last year and become the largest IPO since SoftBank Group's wireless unit went public in 2018.