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Oliver Corporation

オリバー

TSE Standard ・ Ticker 619A Applications open

Application period (book building)
2026-09-01 — 2026-09-07
Lottery result
2026-09-08
Listing date
2026-09-16
Cash needed to apply for one lot (100 shares)
about 30,500 yen
Tentative price range (kari-joken)
295 — 305 yen
Offering size (estimated)
26 billion yen ・ 85,215,800 shares
Market capitalisation at listing
31 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 既存株主のほぼ全てに180日間

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The joint lead underwriters are Nomura Securities, Daiwa Securities, which receive the largest allocations.

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

What stands out

  • Handles interiors for a wide range of facilities, including hotels, offices, hospitals and shops, from design through manufacturing and installation
  • Revenue rose from about 25.0 billion yen in the year to December 2023 to about 35.0 billion yen in the year to December 2025, with a net profit in each of those three years
  • The company was listed from 1988 and taken private in a 2021 management buyout. This listing is its return to the market

What could go wrong

  • There is no new share issue in this offering. Every share on sale comes from existing holders, so the company itself raises no money
  • The shares on offer, including the over-allotment, come to roughly 85% of the shares that will be outstanding at listing (planned at 100 million), and more could follow once the lock-up on the private equity fund that is the major shareholder expires
  • Earnings depend on corporate capital spending, such as office relocations and the opening of hotels and shops

About the company

A company that handles interiors for hotels, offices, hospitals and other commercial facilities, covering everything from design through manufacturing and installation.

How it makes money

It sells both standard items from its catalogue and custom pieces built to fit a particular space, and takes on the whole job from making the furniture to the interior fit-out work. The range of facilities is wide, covering hotels, offices, schools and public buildings, restaurants and retail, chain stores, and medical and care facilities. It works from its own factory in Toyohashi and a network of 21 branches and 51 sales offices across Japan.

Where growth is meant to come from

It is putting weight on digital tools for pitching designs, such as VR showrooms and virtual simulation of a finished space, and describes itself as a digital interior solution provider. It is also widening its range of environmentally minded products, including furniture made with FSC-certified timber and what it calls zero-carbon furniture, where total CO2 emissions are brought to net zero.

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.