ChatPlus

チャットプラス

TSE Growth ・ Ticker 598A ・ Listed

Result on listing day

+111.5%

Offer price

1,080 yen

First traded price

2,284 yen

Selling 100 shares at the first traded price would have produced a gain of 120,400 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2026-06-29 — 2026-07-03
Lottery result: 2026-07-06
Listing date: 2026-07-15
Cash needed to apply for one lot (100 shares): about 108,000 yen
Offering size (at the offer price): 1.4 billion yen ・ 1,322,500 shares
Market capitalisation at listing: 5 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 既存株主の全てに180日間
Company website: https://chatplus.jp/

Closing prices after listing

Compared with the first traded price of 2,284 yen.

2026-07-162,784 yen+21.9%

2026-07-172,284 yen+0.0%

2026-07-212,784 yen+21.9%

2026-07-222,284 yen+0.0%

2026-07-232,050 yen-10.2%

Brokers you can apply through

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

SBI証券楽天証券松井証券マネックス証券 SMBC日興証券丸三証券岡三オンライン岩井コスモ証券東海東京証券東洋証券極東証券

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

What stands out

Revenue above 1 billion yen with only 22 employees, and a recurring profit margin of 36.1% in the year to June 2025
93.8% of sales is recurring subscription revenue, with monthly churn at a low 1.9%
No venture capital among the pre-listing shareholders, and existing holders agreed to a 180-day lock-up

What could go wrong

The main ChatPlus product has been shrinking in both accounts and recurring revenue, leaving growth dependent on the newer AI AgentPlus
Competition could intensify if the large generative-AI providers strengthen their own corporate features
With only 22 employees, the company depends heavily on a small number of key people

About the company

A subscription software company whose chatbots automatically answer the customer enquiries that arrive through company websites.

How it makes money

It sells three subscription products — the ChatPlus chatbot, the generative-AI version AI AgentPlus, and the FAQPlus help-page system — starting at 1,980 yen a month. Recurring subscription revenue was 93.8% of sales in the year to June 2025, and customers include Japan Airlines among a wide range of companies.

Where growth is meant to come from

The strategy is to move customers onto the generative-AI product AI AgentPlus and cross-sell, raising revenue per account. Annual recurring revenue reached about 1.2 billion yen at the end of March 2026, and the company forecasts revenue of 1.22 billion yen for the year to June 2026, up 19.6%.

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.