A former Merrill Lynch derivatives trader with a passion for Star Wars is preparing to take his flying motorbike start-up public in Japan.
Tokyo-based ALI Technologies was founded by Shuhei Komatsu as a drone maker in 2016 before moving on to other ventures, starting sales of its Xturismo bike in October. The $777,000 single-person transporter has a maximum speed of 80 kilometres an hour and travel up to 40 minutes on one charge, according to the company. It is primarily powered by a combustion engine.
The bike has so far largely figured as a curio at public events such as a recent baseball game, but ALI president Daisuke Katano said there is strong interest in it from Middle East nations.
“The need for these bikes will be higher in places with desert or other difficult terrain,” Mr Katano said in an interview. “The vehicle will enable people to travel where roads are bad and inaccessible to cars, as well as across bodies of water.”
The company has selected lead underwriters for an initial public offering on Tokyo’s Mothers market for start-ups in what will be the country’s first debut of its kind.
It is presently engaged in discussions with the Tokyo Stock Exchange, Mr Katano said, declining to specify an estimated valuation or a timeline for the offering.
Flying personal vehicles have been the stuff of science fiction for decades before Star Wars, which over nine films has featured a racing scene with pods zooming along close to ground level and speeder bikes flying through forests.
The ALI bike is similarly not intended to fly far up in the air, primarily helping to traverse inhospitable terrain. It is built like an enlarged drone with a traditional motorcycle seat and steering on top.
Mr Komatsu described his aim as realising an air mobility society, where cars, bikes and other vehicles can transport people in the sky.
ALI has attracted investment from several well-known Japanese firms, including Sega Sammy Holdings, Nagoya Railroad, Nakanihon Air Service, Kyocera and Mitsubishi Electric. Football star Keisuke Honda, who played for the national team at the 2018 World Cup, is also an investor.
ALI’s drones were the first thing to attract investors, but the start-up is also developing capabilities in artificial intelligence and blockchain tech, a Nagoya Railroad spokesman said.
“There are expectations for growth, so once products like these make it to the headlines, the company’s stock could be bought up, getting a boost from retail investors,” said Tomoichiro Kubota, a senior market analyst at Matsui Securities.
There are expectations for growth, so once products like these make it to the headlines, the company’s stock could be bought up, getting a boost from retail investors
Tomoichiro Kubota,
senior market analyst at Matsui Securities
“But the company is not yet at a level where people could talk about a detailed earnings outlook, which makes it hard to pin an appropriate valuation figure.”
While a successful IPO will make ALI the only listed company in Japan that specialises in next-generation air mobility, several peers are already trading on New York exchanges. These include Joby Aviation, Archer Aviation, Lilium and Vertical Aerospace.
Joby, which has a market capitalisation of more than $3 billion, is close to commercialising what the industry calls eVTOLs, or electric vertical take-off and landing aircraft. These flying taxis are battery-powered and, the companies said, are destined to fly without a pilot once regulations allow.
“Air mobility companies listed in the US have pretty sizeable market caps,” Mr Katano said. “If you consider our company to be of a similar kind, I think we’ll be able to win the understanding of investors for a decent valuation.”
ALI will aim for a unicorn valuation – $1bn or more — over the long term, Mr Katano said. But the company has yet decide on the best way to categorise its vehicle, which will depend on discussions with local regulators where the product is sold.
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hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
RESULT
Manchester United 2 Tottenham Hotspur 1
Man United: Sanchez (24' ), Herrera (62')
Spurs: Alli (11')
WWE Evolution results
- Trish Stratus and Lita beat Alicia Fox and Mickie James in a tag match
- Nia Jax won a battle royal, eliminating Ember Moon last to win
- Toni Storm beat Io Shirai to win the Mae Young Classic
- Natalya, Sasha Banks and Bayley beat The Riott Squad in a six-woman tag match
- Shayna Baszler won the NXT Women’s title by defeating Kairi Sane
- Becky Lynch retained the SmackDown Women’s Championship against Charlotte Flair in a Last Woman Standing match
- Ronda Rousey retained the Raw Women’s title by beating Nikki Bella
HOW TO WATCH
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Four motivational quotes from Alicia's Dubai talk
“The only thing we need is to know that we have faith. Faith and hope in our own dreams. The belief that, when we keep going we’re going to find our way. That’s all we got.”
“Sometimes we try so hard to keep things inside. We try so hard to pretend it’s not really bothering us. In some ways, that hurts us more. You don’t realise how dishonest you are with yourself sometimes, but I realised that if I spoke it, I could let it go.”
“One good thing is to know you’re not the only one going through it. You’re not the only one trying to find your way, trying to find yourself, trying to find amazing energy, trying to find a light. Show all of yourself. Show every nuance. All of your magic. All of your colours. Be true to that. You can be unafraid.”
“It’s time to stop holding back. It’s time to do it on your terms. It’s time to shine in the most unbelievable way. It’s time to let go of negativity and find your tribe, find those people that lift you up, because everybody else is just in your way.”
UAE currency: the story behind the money in your pockets
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Teams in the EHL
White Bears, Al Ain Theebs, Dubai Mighty Camels, Abu Dhabi Storms, Abu Dhabi Scorpions and Vipers
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Five expert hiking tips
Always check the weather forecast before setting off
Make sure you have plenty of water
Set off early to avoid sudden weather changes in the afternoon
Wear appropriate clothing and footwear
Take your litter home with you
The specs
Engine: 3.9-litre twin-turbo V8
Power: 640hp
Torque: 760nm
On sale: 2026
Price: Not announced yet
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
