Go’s IPO — Japan’s biggest so far in 2026 — has done more than provide a much-needed boost to the country’s languishing listing season. It has also supplied the taxi-hailing app with the capital required to address an existential issue: Japan’s shortage of drivers.
Go, which went public Tuesday, plans to use the proceeds to expand its robotaxi business and make acquisitions, according to a company spokesperson. “We intend to use the proceeds from the sale of newly issued shares toward investment in research and development related to robotaxis and investment in business expansions, including strategic mergers and acquisitions in our business inside and outside of the taxi industry,” the spokesperson said.
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Japan’s quietest listing season meets global demand
The Japanese taxi-hailing company’s debut came in one of Japan’s quietest listing seasons, at a time when the government has been telling startups to sell themselves rather than go public. Go drew investments from BlackRock, Wellington Management, and M&G Investment Management, underscoring where global institutional money is willing to go in Japan right now. The stock has since pulled back below its offering price, closing at ¥2,314 on Friday, down about 4% from the IPO price of ¥2,400.
The driver shortage driving robotaxi ambitions
Go’s robotaxi ambitions are rooted in a human problem. Japan’s taxi industry is running out of drivers. The number of taxi drivers has fallen roughly 20% in recent years, according to a report citing Japan’s Ministry of Land, Infrastructure, Transport and Tourism. An aging population means that figure is unlikely to recover. Ride-share services launched in Japan in 2024, but remain limited to certain areas and require drivers to be employed by a taxi company — restrictions that have done little to address the shortage.
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Go was founded in 1977 as a taxi operator and now runs Japan’s largest ride-hailing app with 35 million downloads, 85,000 partner vehicles, and an 80% share of Japan’s taxi app market by usage time, covering 46 of Japan’s 47 prefectures. Go believes robotaxis will be part of its future — although it’s not clear when that vision will become a reality.
Partnerships and competition in Tokyo’s robotaxi race
Go has partnered with Waymo, an autonomous driving subsidiary of Alphabet, alongside Nihon Kotsu, one of Japan’s biggest taxi operators. Go is responsible for strategic coordination of the partnership, according to the spokesperson. CEO Hiroshi Nakajima has previously said that Go will not invest in autonomous driving systems itself, according to Nikkei Asia. Go has not set a timeline for fully driverless operations. “We plan to begin driving fully autonomously, without a human specialist present, when we validate our technology and receive approval to do so,” the spokesperson said.
In the meantime, Go is looking for ways to give its traditional business a competitive edge. The company has partnered with Kakao T, Alipay, and WeChat Pay, allowing inbound travelers from South Korea, China, and Taiwan to hail Go-affiliated taxis directly from their local apps.
Go is not the only company betting on Tokyo’s robotaxi future. In March, Uber, Wayve, and Nissan announced plans to pilot robotaxi services in Tokyo by late 2026, marking Uber’s first autonomous vehicle partnership in Japan. The service will use Nissan Leaf electric vehicles powered by Wayve’s AI Driver, and will be bookable through the Uber app. Uber has also teamed up with S.Ride to let international visitors book rides through the Uber app. Didi Mobility Japan, a joint venture between SoftBank and Didi Chuxing, has a similar arrangement.
Frequently Asked Questions
How much did Go raise in its IPO?
Go raised ¥88.6 billion ($553 million) in Japan’s biggest IPO of 2026, with investments from BlackRock, Wellington Management, and M&G Investment Management.
Why is Go focusing on robotaxis?
Japan’s taxi industry faces a severe driver shortage, with the number of taxi drivers falling roughly 20% in recent years due to an aging population. Go sees robotaxis as a long-term solution to this existential problem.
Has Go set a timeline for fully driverless operations?
No, Go has not set a specific timeline. The company plans to begin fully autonomous driving when it validates its technology and receives regulatory approval.
What other companies are competing in Japan’s robotaxi market?
In March 2026, Uber, Wayve, and Nissan announced plans to pilot robotaxi services in Tokyo by late 2026. Didi Mobility Japan and S.Ride also have partnerships for international visitors.
