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LAYERED Inc.

レイヤード

TSE Standard ・ Ticker 634A Upcoming

Application period (book building)
2026-09-07 — 2026-09-11
Lottery result
2026-09-14
Listing date
2026-09-25
Cash needed to apply for one lot (100 shares)
about 140,000 yen
Offering size (estimated)
1.4 billion yen ・ 977,500 shares
Market capitalisation at listing
4 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 既存株主の多くに180日間
Company website
https://layered.inc/

Brokers you can apply through

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

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

What stands out

  • About 6,000 medical institutions were using its services as of June 2026
  • Revenue has risen for four straight years, reaching 1.46 billion yen in the year to June 2025
  • Monthly subscription fees give it a recurring revenue base

What could go wrong

  • Two of the last five years, to June 2022 and to June 2024, ended in a net loss, so earnings are not yet stable
  • The company has never paid a dividend since it was founded
  • Stock options for 274,360 shares, about 10% of the shares outstanding at listing, could dilute the value of each share when exercised

About the company

A medical DX company that provides SaaS for digitising clinic front-desk work in Japan, such as web-based pre-visit questionnaires and appointment booking.

How it makes money

It offers medical institutions several products that can be adopted one at a time, including the Symview web questionnaire, the Wakumy booking system, the Kakarite patient management tool and the Iver automated phone answering service, and earns monthly subscription fees plus a set-up fee charged at installation. It also sells advertising space on Medicastar, the digital signage it operates in waiting rooms, to pharmaceutical companies and others. About 6,000 medical institutions were using at least one of its products as of June 2026.

Where growth is meant to come from

Its multi-product strategy is to have each clinic use more than one product and so lift revenue per site. Of the net proceeds from the offering, up to about 920 million yen, it plans to spend 200 million yen on extending existing products, 468 million yen on sales and customer support staff, and 250 million yen on publicity, investor relations and selling costs.

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.