Progress Technologies Group

プログレス・テクノロジーズグループ

TSE Growth ・ Ticker 339A ・ Listed

Updated Sep 30, 2026

Result on listing day

+1.5%

Offer price

1,950 yen

First traded price

1,980 yen

Selling 100 shares at the first traded price would have produced a gain of 3,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2025-03-12 — 2025-03-17
Lottery result: 2025-03-18
Listing date: 2025-03-28
Cash needed to apply for one lot (100 shares): about 195,000 yen
Offering size (at the offer price): 8.5 billion yen ・ 4,378,200 shares
Market capitalisation at listing: 15 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 主要株主に90日間（株価による解除条項なし）
Company website: https://progresstech-group.jp/

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The lead underwriter is Nomura Securities, which receives the largest allocation.

野村證券大和証券三菱UFJモルガン・スタンレー証券 SBI証券マネックス証券松井証券東海東京証券アイザワ証券あかつき証券三菱UFJ eスマート証券大和コネクト証券

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

What stands out

Its solutions business, which digitalizes the way manufacturers design products, made up about 56% of revenue in the year to February 2026
In the year to February 2026 revenue rose 11.8% to 6.31 billion yen and profit for the year was 1.18 billion yen
Paid its first dividend, 30 yen a year, for the year to February 2026, and plans 30 yen again for the year to February 2027

What could go wrong

Heavy reliance on the car industry. The Honda group alone accounted for about 42% of revenue in the year to February 2026
Revenue is closely tied to how many engineers it has, so hiring and keeping engineers limits how fast it can grow
Goodwill of about 4.96 billion yen makes up over 40% of total assets, so a downturn could lead to an impairment loss

About the company

Helps car makers and other manufacturers at the design stage of new products, using digital tools and its own specialist engineers.

How it makes money

It has two main businesses: a solutions business that digitalizes how manufacturers design products and helps the new methods take root, and an engineering business where its engineers work on clients' development projects. In the year to February 2026 the solutions business was about 56% of revenue of 6.31 billion yen and the engineering business about 40%. The Honda group is its largest customer, at about 40% of revenue.

Where growth is meant to come from

It is focusing on consulting at the upstream design stage using digital twin technology (recreating real products and environments in a virtual space) and AI, and is expanding into industries beyond cars and into partnerships with universities. For the year to February 2027 the company forecasts revenue of 6.90 billion yen (up 9.3%), while profit for the year is expected to fall 14.7% to 1.01 billion yen because the previous year included one-off income.

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.