ノースサンド
TSE Growth ・ Ticker 446A ・ Listed
Updated
Offer price
1,120 yen
First traded price
1,200 yen
Selling 100 shares at the first traded price would have produced a gain of 8,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.
Compared with the first traded price of 1,200 yen.
You can only enter this lottery through a broker underwriting it. The lead underwriter is Daiwa Securities, which receives the largest allocation.
Broker pages are in Japanese. A comparison in English is on the brokers page.
A full-service consulting firm whose consultants work alongside client companies as a team to fix IT and business problems.
Revenue comes mainly from placing consultants inside client companies and charging according to how many consultants work and for how long. IT consulting — drawing up medium-term IT plans, replacing core systems — and business consulting in areas such as marketing and human resources are sold as a single business rather than as separate lines. The company is also the world's first authorised reseller of the information-sharing tool Notion, with a dedicated team covering licences, rollout design and adoption support. Revenue is essentially consultant headcount multiplied by utilisation rate and average rate per consultant. As of the second quarter of the year to January 2027 it had 1,916 consultants and a utilisation rate above 90%.
Revenue grew from 4.45 billion yen in the year to January 2023 to 26.19 billion yen in the year to January 2026. On 11 September 2026 the company raised its full-year guidance for the year to January 2027 to revenue of 40.56 billion yen, operating profit of 9.21 billion yen and an annual dividend of 35 yen. Over the medium term it targets average revenue growth of at least 30% a year through the year to January 2029, with a longer-term goal of 100 billion yen in revenue and an operating margin above 30%. In September 2026 it applied to move to the Tokyo Stock Exchange Prime market.
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.
