Reiwa Accounting Holdings

令和アカウンティング・ホールディングス

TSE Growth ・ Ticker 296A ・ Listed

Updated Oct 2, 2026

Result on listing day

+44.7%

Offer price

360 yen

First traded price

521 yen

Selling 100 shares at the first traded price would have produced a gain of 16,100 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2024-12-06 — 2024-12-12
Lottery result: To be announced
Listing date: 2024-12-23
Cash needed to apply for one lot (100 shares): about 36,000 yen
Offering size (at the offer price): 1.2 billion yen ・ 3,450,000 shares
Market capitalisation at listing: 14 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(対象35,000,000株)に180日間(価格による解除条項なし)
Company website: https://rw-ah.net/

Brokers you can apply through

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

大和証券野村證券みずほ証券 SMBC日興証券マネックス証券松井証券 SBI証券楽天証券岩井コスモ証券岡三証券東海東京証券極東証券SBIネオトレード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

Revenue of 5.71 billion yen and net profit of 1.42 billion yen for the year to March 2026, with revenue and profit still rising since listing
A high operating margin of 34.8% for the year to March 2026
A dividend of 32.5 yen per share for the year to March 2026, paying out most of its profit (payout ratio 86.0%)

What could go wrong

Its services are delivered by accounting specialists, so growth could slow if it cannot hire and train enough of them
The company forecast for the year to March 2027 shows net profit growth of only 1.3%
At listing the offering was mostly existing shareholders selling (2.5 million shares) rather than new shares (500,000 shares)

About the company

An accounting consultancy whose specialist teams handle bookkeeping, closing, consolidation and disclosure work for listed and other large companies.

How it makes money

It earns fees from client companies for accounting outsourcing that supports their finance departments from outside, for help with closing, consolidation and disclosure, and for accounting support on M&A, reorganisations and IPO preparation. It also keeps the books for real estate funds and REITs. Almost all revenue comes from the consulting business; its training, staffing and system development businesses are still small.

Where growth is meant to come from

With companies short of staff and accounting work growing more complex, it is strengthening its consulting teams, while gradually expanding system development through its subsidiary Miracle Keiri and its accounting training and staffing services. For the year to March 2027 the company forecasts revenue of 6.3 billion yen (up 10.4%) and net profit of 1.44 billion yen (up 1.3%).

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.