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GVA TECH

TSE Growth ・ Ticker 298A ・ Listed

Updated

Result on listing day

+1.4%

Offer price

690 yen

First traded price

700 yen

Selling 100 shares at the first traded price would have produced a gain of 1,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-12-10 — 2024-12-16
Lottery result
2024-12-17
Listing date
2024-12-26
Cash needed to apply for one lot (100 shares)
about 69,000 yen
Offering size (at the offer price)
901 million yen ・ 1,305,300 shares
Market capitalisation at listing
3.2 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 売出し後に既存株主が持ち続ける4,037,232株のうち3,264,844株(80.9%)に180日間。ベンチャーキャピタルの保有が多く、その一部はロックアップの対象外
Company website
https://gvatech.co.jp/

Brokers you can apply through

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

みずほ証券マネックス証券松井証券SBI証券楽天証券岩井コスモ証券岡三証券東海東京証券東洋証券極東証券あかつき証券

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

What stands out

  • OLGA aims to automate legal work itself, with new features built around generative AI
  • Revenue rose 27.3% to 1.48 billion yen in the year to December 2025
  • The company forecasts its first operating profit, 31 million yen, for the year to December 2026

What could go wrong

  • It has been loss-making since before listing, with a net loss of 0.32 billion yen in the year to December 2025; a return to profit is only a company forecast so far
  • Losses have reduced net assets, and the equity ratio fell to 17.5% at the end of December 2025 (43.7% a year earlier)
  • The company itself says that the spread of AI search is reducing the number of visitors its registration business gets from web search

About the company

A legal tech company offering OLGA, a cloud service that uses AI to review contracts and manage legal work, and GVA Houjin Touki, which lets companies prepare their own corporate registration documents.

How it makes money

For the legal departments of large and mid-sized companies, it offers OLGA on a monthly basis, a system that handles legal requests, contract review and contract management in one place. Its other pillar is registration services for smaller businesses: GVA Houjin Touki lets them prepare documents online for changes such as moving the head office or replacing directors, and GVA Shohyo Toroku helps them file trademark applications. It reports a single segment, legal tech.

Where growth is meant to come from

Revenue grew 27.3% to 1.48 billion yen in the year to December 2025, but the company remained in the red with a net loss of 0.32 billion yen. For the year to December 2026 it aims for both revenue growth of more than 40% and an operating profit, and forecasts revenue of 2.096 billion yen (up 41.3%), operating profit of 31 million yen and net profit of 2 million yen.

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.