Beginners IPO🔰 New to IPOs? Start here
← Back to the IPO list

FIT-EASY

フィットイージー

TSE Standard ・ Ticker 212A ・ Listed

Updated

Result on listing day

+22.5%

Offer price

990 yen

First traded price

1,213 yen

Selling 100 shares at the first traded price would have produced a gain of 22,300 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-07-05 — 2024-07-11
Lottery result
To be announced
Listing date
2024-07-23
Cash needed to apply for one lot (100 shares)
about 99,000 yen
Offering size (at the offer price)
4.9 billion yen ・ 4,945,000 shares
Market capitalisation at listing
16 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 株式会社オリーブや代表取締役の國江仙嗣氏など主要株主(対象12,066,010株)に180日間のロックアップが付されており、価格による解除条項はありません。
Company website
https://fiteasy.co.jp/

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.

大和証券野村證券みずほ証券SBI証券楽天証券マネックス証券松井証券岡三証券東海東京証券岡三オンライン (no longer offers IPOs)SBIネオトレード証券大和コネクト証券

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

What stands out

  • Fitness clubs offering 27 kinds of amusement services, such as golf, saunas and self-service beauty treatments
  • 275 clubs and 262,000 members at the end of April 2026
  • Revenue of 9.732 billion yen (up 45.8%) and net profit of 1.529 billion yen (up 41.3%) in the year to October 2025, with higher revenue and profit forecast again for the year to October 2026

What could go wrong

  • Development sales linked to new franchise openings make up a large part of revenue, so a slowdown in openings would quickly hit results
  • Competition among fitness clubs is intense, and more cancellations would reduce membership fee and royalty income
  • If franchisees' businesses deteriorate, royalty income could fall or clubs could close

About the company

A Gifu Prefecture company that runs FIT-EASY "amusement fitness clubs", with extras such as golf, saunas and oxygen rooms, nationwide through its own clubs and franchises.

How it makes money

It has three main sources of revenue: monthly fees from members of its own clubs (directly managed sales), royalties and similar payments from franchisees (operation sales), and sales of machines and other equipment plus franchise fees when franchisees open new clubs (development sales). Development sales are the largest of the three, so revenue grows as more clubs open. At the end of April 2026 it had 275 clubs and 262,000 members.

Where growth is meant to come from

It keeps opening clubs, mainly through franchisees, and the number grew from 238 at the end of October 2025 to 275 at the end of April 2026. It is also adding members at existing clubs by introducing new amusement services, and for the year to October 2026 it forecasts revenue of 14.322 billion yen and net profit of 2.473 billion yen (raised in June 2026). On 15 October 2025 its shares moved to the Prime Market of the Tokyo Stock Exchange and the Premier Market of the Nagoya Stock Exchange.

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.