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A-tie

エータイ

TSE Growth ・ Ticker 369A ・ Listed

Updated

Result on listing day

+68.7%

Offer price

1,510 yen

First traded price

2,547 yen

Selling 100 shares at the first traded price would have produced a gain of 103,700 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-06-11 — 2025-06-17
Lottery result
2025-06-18
Listing date
2025-06-26
Cash needed to apply for one lot (100 shares)
about 151,000 yen
Offering size (at the offer price)
2.4 billion yen ・ 1,614,600 shares
Market capitalisation at listing
6.3 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 上位株主に180日間
Company website
https://a-tie.co.jp/

Closing prices after listing

Compared with the first traded price of 2,547 yen.

2025-06-262,600 yen+2.1%
2025-06-272,515 yen-1.3%
2025-06-302,500 yen-1.8%
2025-07-012,365 yen-7.1%
2025-07-022,420 yen-5.0%

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The lead underwriter is Daiwa Securities, which receives the largest allocation.

Broker pages are in Japanese. A comparison in English is on the brokers page.

What stands out

  • More than 100 partner temples and over 30,000 cumulative grave contracts
  • An operating margin of 24.3% in the year to August 2025, a high level
  • Forecasts revenue of 3.42 billion yen and net profit of 570 million yen for the year to August 2026, up again on both

What could go wrong

  • Revenue depends on signing new temple partnerships and on how fast plots sell, so growth stalls if new partnerships slow down
  • Building graves requires money to go out first: investing cash flow was a net outflow of 820 million yen in the year to August 2025
  • Net profit for the first nine months of the year to August 2026 was 410 million yen, slightly below the 420 million yen of the same period a year earlier

About the company

Works with Buddhist temples to develop eien-kuyo graves, which need no family successor to maintain them, and handles everything from marketing and sales to ongoing support.

How it makes money

It partners with Buddhist temples, which supply the land and the standing in the community, and takes on the whole chain: planning, designing and building the graves, advertising for applicants, handling the sales, and supporting operations afterwards. The temple can introduce eien-kuyo graves without carrying much of the upfront cost, while the company earns its revenue from selling the plots it markets. It works with more than 100 temples and has completed a cumulative total of over 30,000 contracts. It also offers consulting services to temples.

Where growth is meant to come from

Growth rests on signing up more partner temples and thereby increasing the number of plots it can sell. In the year to August 2025 revenue was 2.93 billion yen, operating profit 710 million yen and net profit 460 million yen, all company records, with an operating margin of 24.3%. For the year to August 2026 it forecasts revenue of 3.42 billion yen and net profit of 570 million yen, higher on both counts again.

Read about this company in Japanese →

Figures are taken from the offering documents and public sources, and are checked against two independent sources before publication. Nothing here is investment advice. Shares can and do open below their offer price.