Repriority

リプライオリティ

福証Q-Board ・ Ticker 242A ・ Listed

Updated Oct 4, 2026

Result on listing day

-8.0%

Offer price

1,520 yen

First traded price

1,398 yen

Selling 100 shares at the first traded price would have produced a loss of 12,200 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2024-09-05 — 2024-09-11
Lottery result: To be announced
Listing date: 2024-09-25
Cash needed to apply for one lot (100 shares): about 152,000 yen
Offering size (at the offer price): 420 million yen ・ 276,000 shares
Market capitalisation at listing: 1.8 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 代表取締役およびその資産管理会社、取締役に180日間のロックアップ
Company website: https://www.repriority.co.jp/

Brokers you can apply through

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

JTG証券SBI証券マネックス証券松井証券岡三証券岡三オンライン (no longer offers IPOs)東海東京証券FFG証券西日本シティTT証券DMM.com証券

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

What stands out

Supports mail-order companies with call centres that sell their products by phone and with promotions such as placing catalogues in about 11,000 stores nationwide
Sells its own product, Akamoku Senjumo, made from akamoku seaweed from the Genkai Sea, nationwide by mail order through long-form TV commercials
In the year to September 2025, revenue was 2.63 billion yen (down 2.7%) and net profit 0.23 billion yen (up 7.1%); its equity ratio was 73.6% at the end of September 2025

What could go wrong

For the year to September 2026 the company forecasts revenue up 7.1% but operating profit down 21.1% and net profit down 28.8%
Sales tend to be concentrated on a few major clients (in the year to September 2025, about 0.56 billion yen came from Shizenshokken and about 0.35 billion yen from Hakuhodo Connect), and a cut in the performance-based fee paid by one major client has already led to lower revenue and profit in the D2C business
In the first nine months of the year to September 2026 (October 2025 to June 2026), revenue fell 5.6% and net profit 9.8%, and its own mail-order business was loss-making, although the loss was smaller than a year earlier

About the company

A Fukuoka-based company that sells products by phone on behalf of mail-order firms through its call centres, runs in-store catalogue promotions for them, and also sells its own akamoku seaweed food by mail order.

How it makes money

It has two pillars: a mail-order support business that helps mail-order companies grow their sales, and its own mail-order business. In mail-order support, its call centres phone the customers of mail-order companies and sell on their behalf, encouraging repeat purchases and subscriptions (the D2C business), and it places free mail-order catalogues in about 11,000 stores nationwide, such as supermarkets and drugstores, to help clients win new customers (the retail media business); the mail-order companies pay it for these services. In the year to September 2025, mail-order support brought in 1.95 billion yen and its own mail-order business 0.68 billion yen. The main product of its own mail-order business is Akamoku Senjumo, an additive-free food made from akamoku seaweed, which it sells nationwide through long-form TV commercials (infomercials).

Where growth is meant to come from

In mail-order support, it is spreading its call-centre work across more clients so that it depends less on particular ones, and is expanding sales of a new retail media service. It treats the year to September 2026 as a period to improve the earnings structure of its own mail-order business, revising prices and launching new products while widening its sales channels, including supplying school lunches in Fukuoka City and selling more on the QVC TV shopping channel. The company describes the year to September 2026 as an investment phase for growth from the year to September 2027 onward, and forecasts revenue of 2.82 billion yen (up 7.1%) and net profit attributable to owners of the parent of 0.16 billion yen (down 28.8%).

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.