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Cocolive

TSE Growth ・ Ticker 137A Listed

Result on listing day

+124.2%

Offer price

1,780 yen

First traded price

3,990 yen

Selling 100 shares at the first traded price would have produced a gain of 221,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-02-09 — 2024-02-16
Lottery result
To be announced
Listing date
2024-02-28
Cash needed to apply for one lot (100 shares)
about 178,000 yen
Offering size (at the offer price)
1.3 billion yen ・ 707,500 shares
Market capitalisation at listing
5.2 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 代表取締役ら既存株主に90日間または180日間(一部は公開価格の1.5倍以上で解除条項あり)

Brokers you can apply through

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

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

What stands out

  • Provides KASIKA, an automated follow-up and deal management tool built specifically for the housing and property industry, to about 1,200 companies
  • Revenue rose for three years running — 1.03 billion yen in the year to May 2024, 1.30 billion in the year to May 2025 and 1.45 billion in the year to May 2026
  • Income is built up from monthly subscription fees, and the company has posted an operating profit in each of the five years from the year to May 2022

What could go wrong

  • Nearly all of its revenue comes from a single product, KASIKA, so a rival tool or a rise in cancellations would hit it directly
  • Its customers are concentrated in housing and property, which leaves it exposed to a downturn in the housing market or to those firms cutting IT spending
  • Revenue grew in the year to May 2026, but operating profit fell from 279 million yen to 197 million yen

About the company

Provides KASIKA, a tool that lets housing and property companies follow up automatically with the people who enquire about a home and turn them into sales meetings.

How it makes money

Most of its revenue comes from the monthly subscription fee for KASIKA. The tool is built around the way housing and property sales actually work — it pulls in enquiries from property portal sites automatically, sends automatic replies to people who request brochures, and uses AI to pick out the customers whose browsing suggests real interest. About 1,200 companies were using it as of July 2026. Cocolive does not simply hand over the software. Its own team coaches each customer on how to run it, drawing on approaches that have worked at other firms, and writes the emails, SMS and LINE messages and builds the event landing pages for them.

Where growth is meant to come from

The company has published a development roadmap built around AI and around links to outside systems. A feature that suggests the next best move for each customer is already live, and it plans to roll out AI minutes taken automatically from sales meetings, automatic floor-plan proposals, and AI reading of paper questionnaires so that they register themselves. It is also strengthening the features aimed at apartment work.

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.