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Kagayaki Holdings

かがやきホールディングス

名証ネクスト ・ Ticker 624A Applications open

Application period (book building)
2026-09-02 — 2026-09-08
Lottery result
2026-09-09
Listing date
2026-09-18
Cash needed to apply for one lot (100 shares)
about 72,000 yen
Tentative price range (kari-joken)
700 — 720 yen
Offering size (estimated)
166 million yen ・ 230,000 shares
Market capitalisation at listing
920 million yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 創業家など既存株主に180日間。ベンチャーキャピタルの保有はなし

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The lead underwriter is 東海東京証券, which receives the largest allocation.

東海東京証券SBI証券JTG証券あかつき証券DMM.com証券

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

What stands out

  • Combines consulting for small and mid-sized companies with the supply of trained specialists to professional practices
  • Consolidated revenue rose from 1.78 billion yen in the year to June 2024 to 2.01 billion yen in the year to June 2025, and net profit from 97 million yen to 169 million yen
  • Recurring revenue under advisory and similar contracts was 80.0% of the total in the year to June 2025

What could go wrong

  • It is listing only on the Nagoya Stock Exchange Next market, where trading is typically thinner than for shares listed in Tokyo
  • It received approval to list on the Tokyo Growth market in June 2025, but that approval was withdrawn at the company's own request
  • Most of its staffing work places people with Kagayaki Associates, a group of professional practices that has no capital ties to the company, so earnings depend on that relationship continuing

About the company

A holding company whose group provides consulting to small and mid-sized companies in Japan and supplies trained specialists to tax accountancy and other professional practices.

How it makes money

The group works through two segments. In consulting, five subsidiaries divide the work between them, covering business and turnaround planning, succession and M&A advice, outsourced back-office work such as bookkeeping and payroll, property and insurance-based advice on family assets, and public accounting support for local governments. In staffing, employees trained in accounting, payroll and labour administration are placed with the professional practices known as Kagayaki Associates. Revenue that recurs under advisory and similar contracts made up 80.0% of the total in the year to June 2025.

Where growth is meant to come from

It names three pillars for growth — expanding revenue from its existing services, acquisitions, and closer ties with the professional practices it works alongside. Since it was founded it has widened its range of services by buying tax and labour consultancy practices or taking over their businesses. The money raised in this offering, a net total of up to about 104 million yen including a third-party allotment, is earmarked for hiring, salaries and training in the year to June 2027.

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.