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BRANU

TSE Growth ・ Ticker 460A ・ Listed

Updated

Result on listing day

+68.9%

Offer price

980 yen

First traded price

1,655 yen

Selling 100 shares at the first traded price would have produced a gain of 67,500 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-11-13 — 2025-11-19
Lottery result
2025-11-20
Listing date
2025-12-01
Cash needed to apply for one lot (100 shares)
about 98,000 yen
Offering size (at the offer price)
1.3 billion yen ・ 1,299,500 shares
Market capitalisation at listing
4.4 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 主要株主に180日間
Company website
https://branu.jp/

Closing prices after listing

Compared with the first traded price of 1,655 yen.

2025-12-011,332 yen-19.5%
2025-12-021,550 yen-6.3%
2025-12-031,386 yen-16.3%
2025-12-041,248 yen-24.6%
2025-12-051,173 yen-29.1%

Brokers you can apply through

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

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

What stands out

  • Focuses on small construction firms with capital under 100 million yen, offering one tool that covers customer acquisition, hiring, site management and accounting
  • Recurring, subscription-type services covered 2,742 client companies at the end of July 2025
  • In the year to October 2025 it reported revenue of 2.12 billion yen and recurring profit of 330 million yen, up from 1.41 billion yen and 100 million yen the year before

What could go wrong

  • Its customers are concentrated among small construction firms, so it is exposed to conditions and labour shortages in that industry
  • It operates in a single segment, the construction DX platform, and revenue is still small at 2.12 billion yen for the year to October 2025
  • Because its main earner is subscription-type revenue, an increase in cancellations or a slowdown in new sign-ups feeds through quickly to results

About the company

Provides CAREECON, a set of IT services for small and mid-sized construction firms that brings customer acquisition, hiring, site management and accounting together in one place.

How it makes money

It runs a single business, a construction DX platform, made up of three services. The first is building websites for construction firms and operating CAREECON, a marketplace where construction work can be posted and bid on. The second, and its main earner, is CAREECON Plus, an all-in-one business tool covering customer acquisition, hiring, site management and accounting, sold on a monthly fee under a one-year contract. The third is CAREECON Job, a recruitment service for the construction trade launched in May 2025, charged only when a hire is actually made. Contracts for its recurring, subscription-type services stood at 2,742 companies at the end of July 2025.

Where growth is meant to come from

The strategy is to get firms on board with the basic mini plan and then move them up to the full Standard plan, raising the monthly revenue earned per customer. It is widening both the product and its sales territory, adding a generative-AI blog writing feature and opening a Sendai branch in September 2025. For the year to October 2026 the company forecasts revenue of 2.80 billion yen, 32.0% higher than the previous year, and recurring profit of 380 million yen.

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.