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Classico

クラシコ

TSE Growth ・ Ticker 442A ・ Listed

Updated

Result on listing day

+135.3%

Offer price

1,390 yen

First traded price

3,270 yen

Selling 100 shares at the first traded price would have produced a gain of 188,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-10-20 — 2025-10-24
Lottery result
2025-10-27
Listing date
2025-11-05
Cash needed to apply for one lot (100 shares)
about 139,000 yen
Offering size (at the offer price)
448 million yen ・ 322,000 shares
Market capitalisation at listing
2.8 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(対象は既存株式の86.3%)

Closing prices after listing

Compared with the first traded price of 3,270 yen.

2025-11-053,515 yen+7.5%
2025-11-062,816 yen-13.9%
2025-11-072,316 yen-29.2%
2025-11-102,385 yen-27.1%
2025-11-112,109 yen-35.5%

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

  • Sells its Classico lab coats and scrubs directly through its own online store and its shops
  • Also runs collaboration lines with other brands such as gelato pique and Ron Herman
  • Turned profitable in the year to October 2024 and grew both sales and profit again in the year to October 2025

What could go wrong

  • The first half of the year to October 2026 brought lower sales and an operating loss, so the full-year company forecast depends on a stronger second half
  • It has only been profitable since the year to October 2024, so the record of stable earnings is still short
  • The market for medical clothing is limited in size, so growth from here depends on overseas sales and newer lines such as patient wear

About the company

A medical apparel company that designs its own lab coats and scrubs for doctors and nurses and sells them directly through its own online store and shops.

How it makes money

It plans, develops and sells lab coats, scrubs and patient wear, with a stated mission of bringing sensibility to the medical workplace. In an industry where sales normally run through distributors, it stands out by selling directly to medical staff via its own official online store and its shops in Marunouchi, Osaka, Nagoya and Yokohama. Hospitals are also reached through leases arranged by linen supply companies, and the lifte patient wear line goes to hospitals through Elan, its development partner. It sells overseas as well, in Taiwan, Hong Kong, Singapore, Thailand and six Middle Eastern countries, through its own e-commerce sites and local distributors.

Where growth is meant to come from

For the year to October 2025 it reported revenue of 3.63 billion yen and recurring profit of 138 million yen, a second straight year of higher sales and a profit. Its own forecast for the year to October 2026 is revenue of 4.25 billion yen and recurring profit of 214 million yen, but the first half, from November 2025 to April 2026, came in at 1.56 billion yen of revenue and an operating loss of 188 million yen. Overseas expansion, new product development and hiring are where the IPO money is going.

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.