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D&M Company

D&Mカンパニー

TSE Growth ・ Ticker 189A ・ Listed

Updated

Result on listing day

+30.8%

Offer price

1,000 yen

First traded price

1,308 yen

Selling 100 shares at the first traded price would have produced a gain of 30,800 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
To be announced
Lottery result
To be announced
Listing date
2024-06-11
Cash needed to apply for one lot (100 shares)
about 100,000 yen
Offering size (at the offer price)
782 million yen ・ 782,000 shares
Market capitalisation at listing
2.1 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、ベンチャーキャピタル保有分には90日間または公開価格の1.5倍以上での解除条項付きのロックアップが付されています。

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

  • In the year to May 2026 it had 195 client companies (up 9.6%) and bought receivables from 99 of them (up 26.9%)
  • Revenue has risen and the company has been profitable for three straight years from the year to May 2024
  • The company forecasts revenue up 24.6% and operating profit up 32.9% for the year to May 2027

What could go wrong

  • Because it borrows from financial institutions to fund receivables purchases and similar activities, higher interest rates or a change in banks' willingness to lend could affect its profit and the scale of its business
  • If revisions to medical or care fees hurt the finances of client hospitals and care facilities, business volumes and the collection of receivables could be affected
  • In the year to May 2026 revenue rose 8.1% but operating profit fell 9.1%

About the company

A management support company that offers hospitals, clinics, care facilities and similar providers a combined package of medical and care fee receivables purchasing (factoring), management consulting and staffing services.

How it makes money

Its main source of income is the F&I service, which buys in advance the medical and care fee receivables that hospitals and care facilities will be paid later, and earns a fee for doing so (about 46% of revenue in the year to May 2026). It also provides C&Br consulting, covering business and operational reform and M&A support (about 30%), and HR&OS services such as recruitment and staffing in the medical and care sectors and employment support for foreign workers (about 24%), helping clients with funding, management and staffing issues all at once.

Where growth is meant to come from

For the year to May 2027 it forecasts revenue of 2.02 billion yen (up 24.6%) and net profit of 0.25 billion yen (up 11.3%), and its medium-term plan aims for revenue of about 3.8 billion yen in the year to May 2029. The strategy is to win more clients through factoring and then expand the business with each client by combining consulting and staffing services.

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.