The indicative price range was set at 1,830-1,840 yen per share, KKR-backed Kokusai said in a regulatory filing on Tuesday, compared with 1,890 yen previously.
Kokusai said the lower range reflected the view of institutional investors and the state of the stock market.
If its IPO prices at the top of the range, Kokusai, which manufactures machines that deposit thin films on silicon wafers, will offer 108.3 billion yen ($729 million) worth of shares and have a market valuation of 423.9 billion yen, excluding an overallotment.
Capital Research and Management and Lazard Asset Management have committed to purchase shares at the offer price, Kokusai said in a separate filing.
Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.
Persons:
Kokusai, SoftBank Group's, Sam Nussey, Makiko Yamazaki, Miho Uranaka, Kaori Kaneko, Christian Schmollinger, Sonali Paul, Edmund Klamann
Organizations:
Kokusai, KKR, Capital Research, Management, Lazard Asset Management, Samsung Electronics, Micron Technology, Investors, Micron, Thomson
Locations:
TOKYO