フォルシア
TSE Growth ・ Ticker 304A ・ Listed
Updated
Offer price
1,750 yen
First traded price
3,640 yen
Selling 100 shares at the first traded price would have produced a gain of 189,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.
You can only enter this lottery through a broker underwriting it. The lead underwriter is Nomura Securities, which receives the largest allocation.
Broker pages are in Japanese. A comparison in English is on the brokers page.
An IT company that uses its own search technology, Spook, to provide travel companies and others with systems for quickly searching and booking travel products whose prices and availability change constantly.
It has two lines of business: solutions, where it builds systems around each client's needs, and webconnect, a SaaS that bundles functions such as creating, searching and booking travel products and issuing coupons. Both earn money in two ways, from initial development fees and from monthly system-usage fees. It has worked with 8 of Japan's top 10 travel companies, and provides the systems behind JR Central's EX Tabisaki Yoyaku and EX Tabi Pack.
It is shifting from relying on one-off development income toward a SaaS model where monthly revenue builds up. In May 2025 a full-feature version of webconnect went into commercial use for Kinki Nippon Tourist. In the future it aims for a marketplace business connecting sellers and buyers of accommodation, transport, activities and more. In the year to February 2026, after discussions with its auditor, part of the revenue from a large project was moved to the following year, when the client signs off on the work, while costs such as expanding its development team were booked up front. As a result, revenue fell 4.9% and ordinary profit fell 62.5% from the previous year. For the year to February 2027, helped partly by that delayed revenue, the company forecasts revenue up 41.7% and ordinary profit up 457.8%.
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.
