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Growth xPartners

グロースエクスパートナーズ

TSE Growth ・ Ticker 244A ・ Listed

Updated

Result on listing day

+20.3%

Offer price

1,530 yen

First traded price

1,841 yen

Selling 100 shares at the first traded price would have produced a gain of 31,100 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-09-06 — 2024-09-12
Lottery result
To be announced
Listing date
2024-09-26
Cash needed to apply for one lot (100 shares)
about 153,000 yen
Offering size (at the offer price)
1.3 billion yen ・ 849,700 shares
Market capitalisation at listing
4.9 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90日間のロックアップ

Brokers you can apply through

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.

What stands out

  • Record revenue and profit in the year to August 2025, with revenue of about 5.1 billion yen (up 15.0%) and net profit attributable to owners of the parent of 600 million yen (up 43.8%)
  • Mainly serves large companies across industries, handling everything from consulting to development and cloud use
  • Set up a subsidiary in India in 2025 and a strategy consulting subsidiary in 2026 to broaden its support

What could go wrong

  • Its forecast for the year to August 2026 calls for revenue down 8.4% and net profit attributable to owners of the parent down 54.6% (cut in July 2026)
  • The company itself names reliance on specific customers as an issue, and revenue can swing with gaps between large projects or customers' circumstances
  • Upfront investment in hiring, training and research raises costs before any payoff

About the company

An IT company that supports large companies' digital transformation (DX) end to end, from consulting and system development to introducing overseas software.

How it makes money

Its main customers are large companies across healthcare, retail and distribution, mobility, telecoms, construction, manufacturing and finance, and it earns money through three businesses. The core is DX promotion support, covering everything from consulting to application development and cloud use. It also sells licenses for overseas software such as Qualtrics and helps customers adopt it, and co-creates digital services with customers, including support for work related to dialysis treatment at medical institutions.

Where growth is meant to come from

Revenue and profit hit record highs in the year to August 2025, but in July 2026 the company cut its forecast for the year to August 2026 after healthcare projects were pushed back and a gap between large projects. The revised forecast for that year is revenue of 4.66 billion yen (down 8.4%) and net profit attributable to owners of the parent of 272 million yen (down 54.6%). The company says it is prioritizing new customers to reduce reliance on specific clients, and will keep investing in hiring and training staff and in research such as generative AI.

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.