Medix

メディックス

TSE Standard ・ Ticker 331A ・ Listed

Updated Oct 1, 2026

Result on listing day

-5.0%

Offer price

800 yen

First traded price

760 yen

Selling 100 shares at the first traded price would have produced a loss of 4,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2025-03-03 — 2025-03-07
Lottery result: 2025-03-10
Listing date: 2025-03-19
Cash needed to apply for one lot (100 shares): about 80,000 yen
Offering size (at the offer price): 2.1 billion yen ・ 2,645,000 shares
Market capitalisation at listing: 6.5 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 既存株主の上位に180日間（株価による解除条項なし）
Company website: https://www.medix-inc.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 SBI証券三菱UFJモルガン・スタンレー証券松井証券楽天証券マネックス証券東海東京証券三菱UFJ eスマート証券

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

What stands out

Consolidated revenue of 4.26 billion yen and operating profit of 0.66 billion yen in the year to March 2026 (an operating margin of 15.5%)
Adopted a progressive dividend policy in May 2026, under which it aims not to cut its dividend in principle; it forecasts an annual dividend of 19 yen for the year to March 2027 (18 yen the year before)
Acquisitions have extended its services into sales outsourcing and helping clients expand into Taiwan and Asia

What could go wrong

On a parent-only basis, revenue fell 4.0% and net profit fell 39.5% in the year to March 2026, so its original business saw lower sales and profit
In the first quarter of the year to March 2027 (April–June) operating profit was 0.04 billion yen and net profit about 2.8 million yen, a small share of the full-year net profit forecast of 0.43 billion yen
It is exposed to exchange rates through overseas operations such as its Taiwanese subsidiary (a foreign exchange loss of about 16 million yen in the first quarter)

About the company

A digital marketing company that places and manages online advertising on behalf of businesses, and also handles ad creation, data analysis and website production.

How it makes money

Its main income comes from selling and managing digital advertising for client companies, alongside services such as managing and analysing advertising data and building websites. Under its growth strategy Beyond広告 (beyond advertising), it focuses on marketing support for B2B companies, which sell to other businesses. It acquired Sales Lab, an inside sales firm that handles sales by phone and online, in September 2025 and the Taiwanese company 亞星通 in January 2026, and has reported consolidated results since the year to March 2026.

Where growth is meant to come from

It plans to go beyond advertising into sales outsourcing and helping clients expand into Taiwan and the rest of Asia, while using generative AI to work more efficiently. For the year to March 2027 the company forecasts consolidated revenue of 4.98 billion yen (up 16.9%) and operating profit of 0.71 billion yen (up 7.3%). The parent company alone forecasts revenue of 4.14 billion yen (up 3.5%); the difference comes from its subsidiaries.

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.