This page contains affiliate links. Opening an account through one costs you nothing extra and may earn this site a commission.
A major house that is lead underwriter on many large listings, with a fully equal online lottery and no preferential schemes.
Open an account (free)52/100
Fine once you understand the conditions
This score is this site's own. It measures how accessible the lottery is without a large balance — not the chance that you will win. The same calculation is used on the Japanese pages.
💰Upfront deposit
Required. You need assets of at least the estimated purchase cost when you apply.
🎯How the lottery works
As a rule 10% of the retail allocation is drawn fully equally. There are no preferential schemes.
🆓Fees
None, either to enter the lottery or to buy.
👨👩👧Accounts for under-18s
Cannot enter online.
Log in to the online trading service to see the companies and dates.
You need assets of at least the estimated purchase cost at this point.
The draw runs mechanically once the offer price is set. You are shown one of three outcomes: won, reserve, or unsuccessful.
If you won or are in reserve, complete the purchase step within the window.
If you are in reserve, promotions depend on how many winners decline.
The online lottery allocates, as a rule, 10% of the shares set aside for individuals by a mechanical fully equal draw. An older scheme that gave better odds to customers with a trading record was abolished in 2021, so what remains is a plain equal lottery with no preferential tier.
Alongside Nomura, this is one of the two large full-service houses that frequently act as lead underwriter on major listings. Lead underwriters receive the largest allocations, so even the online lottery portion amounts to a meaningful number of shares.
The trade-off is timing. Assets of at least the estimated purchase cost must be in place when you apply, not after you win. Compared with brokers that require nothing upfront, your capital works less hard here, which makes this a broker to use when you have money to spare rather than your first choice for spreading applications.
One of the two largest full-service securities houses in Japan, alongside Nomura. It maintains a nationwide branch network and offers face-to-face investment advice as well as online trading.
Start applying for IPOs at 大和証券
Opening an account is free. You need to be resident in Japan — what that requires is on the account opening page.
Open an account (free)Conditions are those published by 大和証券and can change. Confirm the current terms on the broker's own site before applying. Nothing here is investment advice.
大和証券の日本語ページを見る →