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Information Strategy and Technology

情報戦略テクノロジー

TSE Growth ・ Ticker 155A ・ Listed

Updated

Result on listing day

+122.0%

Offer price

460 yen

First traded price

1,021 yen

Selling 100 shares at the first traded price would have produced a gain of 56,100 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-03-11 — 2024-03-15
Lottery result
To be announced
Listing date
2024-03-28
Cash needed to apply for one lot (100 shares)
about 46,000 yen
Offering size (at the offer price)
1.1 billion yen ・ 2,380,500 shares
Market capitalisation at listing
4.6 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 上位株主に180日間(対象8,840,000株)

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.

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

What stands out

  • Publishes case studies with large clients such as Mizuho Financial Group and Suntory Holdings
  • Reports a 94.7% contract renewal rate and over 100 client companies for the year to December 2025
  • Revenue rose for a third straight year, reaching 8.02 billion yen in the year to December 2025, up 37.1%

What could go wrong

  • Accounts moved to a consolidated basis from the year to December 2025, so part of the revenue growth comes from acquired companies
  • Net profit went 275 million yen (FY2023/12) to 273 million (FY2024/12) to 304 million (FY2025/12) — far slower growth than revenue
  • The equity ratio fell from 62.2% (FY2024/12) to 42.7% (FY2025/12), reflecting the load taken on through acquisitions

About the company

A company whose own engineers work inside the IT departments of large Japanese corporations to help them build and run systems in-house.

How it makes money

Its main business is what the company calls "0th-stage DX" (0次DX): its engineers join the client's own team and stay with the project from planning through development to getting the system used day to day. Clients are mostly large corporations such as Mizuho Financial Group and Suntory Holdings; the company reports over 100 client companies and a 94.7% contract renewal rate for the year to December 2025. It also runs WhiteBox, a platform connecting software firms with engineers, with a registered network of more than 34,000 people as of the same period.

Where growth is meant to come from

It has been expanding as a group: WhiteBox Inc. was set up in January 2025, A.K.Plus was acquired in February 2025, and People dot was acquired in April 2026. In September 2026 it created an AI unit reporting directly to the president (the AICT Division) as part of a stated shift toward AI-centred business. Company guidance for the year to December 2026 is revenue of 10.70 billion yen (up 33.5%) and net profit of 0.43 billion yen (up 41.6%).

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.