ミラティブ
TSE Growth ・ Ticker 472A ・ Listed
Offer price
860 yen
First traded price
751 yen
Selling 100 shares at the first traded price would have produced a loss of 10,900 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.
Compared with the first traded price of 751 yen.
You can only enter this lottery through a broker underwriting it. The joint lead underwriters are Mitsubishi UFJ Morgan Stanley Securities, Daiwa Securities, which receive the largest allocations.
Broker pages are in Japanese. A comparison in English is on the brokers page.
Operates Mirrativ, a smartphone live-streaming app built around game play, where most streams come from ordinary users rather than professionals.
Almost all of its revenue comes from in-app purchases, mainly the gifts viewers send to streamers. Users who spend more than 10,000 yen a month, which the company calls royal users, account for over 90% of that revenue, and their number and average spend are the metrics management watches most closely. The company builds its own retention features in house, including the Emomo 3D avatar that lets people stream without showing their face and games designed for streaming. It pays out about 9.0% of revenue to streamers, a level it describes as lower than that of typical live-streaming services.
For the year to December 2026 the company forecasts revenue of 8.40 billion yen and operating profit of 1.109 billion yen, announced in February 2026. Alongside cost improvements from a falling payment-processing fee rate, it is extending what it has learned to streamers active on YouTube and Twitch. It notes, however, that apart from a subsidiary's B2B business it has not built any revenue from these new ventures into its forecast, and plans to book only their costs for now.
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.
