UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of February 2024
Commission
File Number 001-41749
PIXIE
DUST TECHNOLOGIES, INC.
(Translation
of registrant’s name into English)
Pixie
Dust Technologies, Inc.
2-2-1
Yaesu, Chuo-ku
Tokyo,
104-0028, Japan
(Address
of principal executive officer)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
☒ Form 20-F ☐
Form 40-F
INFORMATION
CONTAINED IN THIS REPORT ON FORM 6-K
Issuance
of Press Release
On
February 20, 2024, Pixie Dust Technologies, Inc. (the “Company”) issued a press release announcing the joint development
of the Rebar Inspection System, a technology that captures still images of objects measured from a distance, with MAEDA Corporation and
Accenture Japan Ltd. The Rebar Inspection System utilizes Pixie Dust’s spatial data platform “KOTOWARI™,” an
advanced application designed to acquire, store, and utilize special data, comprehensively analyzing various phenomena in space, including
digital data.
The
press release furnished in this report as Exhibit 99.1 shall not be deemed to be “filed” for the purposes of Section 18 of
the Securities Exchange Act of 1934 (the “Exchange Act”), as amended, or otherwise subject to the liabilities of that section,
and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended,
or the Exchange Act, as amended, except to the extent specifically provided in such a filing.
EXHIBIT
INDEX
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
PIXIE DUST TECHNOLOGIES, INC. |
|
|
|
Date: February 22, 2024 |
By: |
/s/
Yoichi Ochiai |
|
Name: |
Yoichi Ochiai |
|
Title: |
Chief Executive Officer |
2
Exhibit 99.1
Pixie Dust Technologies
Announces the Joint Development of Rebar Inspection System
New York and Tokyo, Japan, February 20, 2024 – Pixie Dust Technologies, Inc. (Nasdaq: PXDT) (the “Company”),
a Japanese technology company focused on commercializing innovative products and materials utilizing proprietary wave control technology,
announced the joint development of the Rebar Inspection System, a technology that captures still images of objects measured from a distance,
with MAEDA Corporation and Accenture Japan Ltd. The Rebar Inspection System utilizes Pixie Dust’s spatial data platform “KOTOWARI™,”
an advanced application designed to acquire, store, and utilize special data, comprehensively analyzing various phenomena in space, including
digital data. The Company has been developing “KOTOWARI™,” with cooperate partners since our foundation.
The Rebar Inspection System on-site construction
management testing for reinforcing bar arrangement inspections revealed an 80% reduction in shooting time compared to conventional imaging
methods. Through integration of 360-degree video and Building Information Modeling (“BIM”), this technology offers a streamlined
approach to verifying the appropriateness of reinforcing bar numbers and positions, as well as assessing cover thickness.
“Traditionally, construction management faced
heavy workloads from capturing and selecting numerous on-site images,” said General Manager of the KOTOWARI department, Tatsuya
Nakamoto. “With rising social demands, including adherence to regulations limiting overtime work and calls for work style reform,
we anticipate the Rebar Inspection System to transform the process of capturing documentary photographs. A thorough reassessment of work
methods is poised to alleviate workload burdens, making this a significant shift in operational efficiency. We anticipate commercializing
this technology in the near term, and expect to hit the ground running in activating our sales and marketing initiative.”
Development will continue with the objective of achieving
a nationwide rollout within MAEDA Corporation by April 2024. To facilitate its widespread adoption, the technology aims to be consumer-oriented
and explore external software sales. As usage expands, the Company aims to reassess visual inspection clauses, potentially alleviating
the workload of inspectors during both interim and final inspections. The Company anticipates that public systems will adopt this technology,
recognizing it as a dependable data for third-party construction supervision in the future.
Forward-Looking Statements
Certain statements contained in this press release are “forward-looking
statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements reflect the Company’s current expectations or beliefs concerning future events and actual events may differ materially from
current expectations. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,”
“target,” “project,” “aim,” “objective,” “goal,” “estimate,” “potential,”
“predict,” “may,” “will,” “might,” “could,” “intend,” variations
of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Any such
forward-looking statements are subject to various risks and uncertainties, many of which involve factors or circumstances that are beyond
the Company’s control, including but not limited to the strength of the economy, changes to the market for securities, the effects
of inflation and its associated impact on prevailing interest rates, political or financial instability, and other factors which are set
forth in the Company’s prospectus that forms a part of the Registration Statement on Form F-1 (File No. 333-272476), as amended, and in
all filings with the SEC made by the Company subsequent to the filing thereof. The forward-looking statements included in this press release
represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments
will cause its views to change. These forward-looking statements should not be relied upon as representing the Company’s views as
of any date subsequent to the date of this press release. The Company does not undertake to publicly update or revise its forward-looking
statements, whether as a result of new information, future events or otherwise.
About Pixie Dust Technologies, Inc.
Pixie Dust Technologies, Inc. is a Japanese technology
company focused on commercializing innovative products and materials utilizing proprietary wave technology. The Company is currently focusing
on two areas of product development: (1) “Personal Care & Diversity”, where wave control technology is applied to mechanobiology
and intervention/assistance in vision, hearing, and touch, and (2) “Workspace & Digital Transformation,” where metamaterials
(technology that creates properties through structure rather than material) and solutions to commercial design problems, such as in offices
or construction sites, are applied.
Pixie Dust Technologies Investor Relations Contact:
Email: PXDT_IR@pixiedusttech.com
Gateway Group, Inc.
John Yi and Steven Shinmachi
Email: pixie@gateway-grp.com
949-574-3860
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