NE

TSE Growth ・ Ticker 441A ・ Listed

Updated Nov 10, 2025

Result on listing day

+0.0%

Offer price

750 yen

First traded price

750 yen

Selling 100 shares at the first traded price would have produced a gain of 0 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2025-10-17 — 2025-10-23
Lottery result: 2025-10-24
Listing date: 2025-11-04
Cash needed to apply for one lot (100 shares): about 75,000 yen
Offering size (at the offer price): 431 million yen ・ 575,000 shares
Market capitalisation at listing: 12 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 既存株主の全てに180日間
Company website: https://ne-inc.jp/

Closing prices after listing

Compared with the first traded price of 750 yen.

2025-11-04706 yen-5.9%

2025-11-05827 yen+10.3%

2025-11-06730 yen-2.7%

2025-11-07710 yen-5.3%

2025-11-10724 yen-3.5%

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証券楽天証券

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

What stands out

Its main product is a SaaS for managing online-shop orders and stock, used by 6,570 companies as of the end of April 2025
Customers keep paying a usage fee metered by the number of orders they process, so a high share of revenue turns into profit
Equity ratio stood at 89.3% at the end of the year to April 2026, leaving plenty of financial headroom

What could go wrong

For the year to April 2027 the company forecasts higher revenue but an 18.5% fall in operating profit, which would be a third straight year of decline
Most revenue comes from services for online sellers, so slower growth in e-commerce or more cancellations would hit earnings
It listed through a spin-off in which parent company Hamee handed its shares to Hamee shareholders, so the stock was already spread widely on day one and supply weighed on it

About the company

A company that provides NEXT ENGINE, a cloud service letting online sellers manage orders and stock across several shops from a single screen.

How it makes money

Its core product is NEXT ENGINE, a cloud service for businesses running online shops that automatically pulls in orders and stock scattered across Rakuten, Amazon and their own sites and manages them on one screen. Pricing is metered by the number of orders processed, and as of the end of April 2025 it had 6,570 contracted companies covering 53,602 shops, on the company's own count. It also offers consulting aimed at lifting clients' sales, and runs LOCALCO STORE, an online shop for traditional Japanese crafts. Its local-government service supporting furusato nozei donations was transferred to another company under an agreement dated 31 July 2026.

Where growth is meant to come from

The company was carved out of parent Hamee in August 2022 and listed in November 2025 through a spin-off that handed its shares to Hamee shareholders. In April 2026 it set out a new management policy centred on converting sellers' product knowledge into data that AI agents can read, and has been rolling out services built on generative AI. For the year to April 2027 it forecasts revenue of 4.63 billion yen, up 13.8%, with operating profit of 1.19 billion yen, down 18.5% — higher sales but lower profit.

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.