RENT

レント

TSE Standard ・ Ticker 372A ・ Listed

Updated Jul 4, 2025

Result on listing day

+32.3%

Offer price

4,330 yen

First traded price

5,730 yen

Selling 100 shares at the first traded price would have produced a gain of 140,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2025-06-12 — 2025-06-18
Lottery result: 2025-06-19
Listing date: 2025-06-30
Cash needed to apply for one lot (100 shares): about 433,000 yen
Offering size (at the offer price): 4.2 billion yen ・ 970,600 shares
Market capitalisation at listing: 16 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 上位株主のほぼ全てに180日間
Company website: https://www.rent.co.jp/

Closing prices after listing

Compared with the first traded price of 5,730 yen.

2025-06-305,340 yen-6.8%

2025-07-016,340 yen+10.6%

2025-07-026,780 yen+18.3%

2025-07-036,080 yen+6.1%

2025-07-045,910 yen+3.1%

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.

みずほ証券野村證券三菱UFJモルガン・スタンレー証券静銀ティーエム証券丸三証券 SBI証券楽天証券

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

What stands out

A general rental company for aerial work platforms, forklifts and similar machinery, with 73 sales bases across Japan
Revenue and profit for the year to May 2026 were both records, and it forecasts higher revenue and profit again for the year to May 2027
The dividend has risen from 80 yen a share for the year to May 2024 to 220 yen for the year to May 2026, with 235 yen forecast for the year to May 2027

What could go wrong

Earnings move with construction work and corporate capital spending. If building work slows, demand for rentals slows with it
Profit tends to dip in the March-May quarter. In the year to May 2025 that quarter posted an operating loss, though the full year was profitable
The machines have to be bought before they can be rented out, so investment and borrowing come first, and depreciation stays on the books even when demand falls

About the company

A general equipment rental company from Shizuoka that rents aerial work platforms, forklifts and construction machinery to building sites and factories.

How it makes money

It rents out machinery that is expensive to buy and awkward to store — aerial work platforms, forklifts, generators, compressors and the like — for only as long as the customer needs it, and earns rental fees. It runs 73 sales bases and 13 maintenance depots across Japan, handling delivery, inspection and servicing itself. Around the rental business it also calibrates measuring tools and lifting equipment, runs the licence courses operators need for construction machinery, refurbishes forklift and backup-power batteries, and rents out paintings. Consolidated revenue for the year to May 2026 was 52.9 billion yen and the group had 1,752 employees.

Where growth is meant to come from

Consolidated revenue for the year to May 2026 was 52.9 billion yen, up 7.9%, and net profit was 2.9 billion yen — both records. For the year to May 2027 it forecasts revenue of 58.0 billion yen, up 9.5%, and net profit of 3.0 billion yen. It keeps opening new bases, including Kumamoto Chuo Center and the Kakogawa branch, and in August 2026 it tied up with Shizugin Lease to offer rental and leasing together. It also has group companies in Thailand, Vietnam and Indonesia.

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.