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Laxus Technologies

ラクサス・テクノロジーズ

TSE Growth ・ Ticker 288A ・ Listed

Updated

Result on listing day

+51.6%

Offer price

281 yen

First traded price

426 yen

Selling 100 shares at the first traded price would have produced a gain of 14,500 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-11-27 — 2024-12-03
Lottery result
To be announced
Listing date
2024-12-13
Cash needed to apply for one lot (100 shares)
about 28,100 yen
Offering size (at the offer price)
2.4 billion yen ・ 8,593,200 shares
Market capitalisation at listing
7.2 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 親会社ワールドおよび経営陣ほか既存株主(対象19,213,683株)に180日間
Company website
https://corp.laxus.co/

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

  • 19,254 contracts (including double plans) at the end of March 2026, up 1,188 from the end of December 2025
  • Through ShaaS, partnerships with companies that have loyal customers, it started services and collaboration with 8 companies in the year to March 2026
  • An equity ratio of 70.7% (end of March 2026)

What could go wrong

  • In the year to March 2026, its first full year after listing, revenue fell 11.1% and net profit fell 77.4%
  • New contracts come mainly through advertising such as social media, so contract growth slows when advertising becomes less efficient
  • It has never paid a dividend and plans none for the year to March 2027

About the company

A company that runs Laxus, a subscription-based sharing service that lets members borrow designer handbags for a monthly fee.

How it makes money

Members pay a monthly fee to borrow designer handbags that the company buys. These monthly fees are its main source of revenue; at the end of March 2026 it had 19,254 contracts (including double plans), and average revenue per customer was 8,854 yen. Bags that are rarely rented are sold at a store in Shibuya, Tokyo, opened in June 2025, and on an e-commerce site launched that August.

Where growth is meant to come from

In the year to March 2026, revenue and profit fell, partly because advertising became less efficient, and from the second half it switched to a policy that puts advertising efficiency first. For the year to March 2027 it plans to roll out Lax-mochi, a new service that lets customers keep bags waiting to be rented for a monthly payment, and to list items on outside marketplaces such as Rakuten to turn over its stock faster. It forecasts revenue up 11.6% and net profit up 55.1%.

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.