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ROXX

TSE Growth ・ Ticker 241A ・ Listed

Updated

Result on listing day

-8.0%

Offer price

2,110 yen

First traded price

1,941 yen

Selling 100 shares at the first traded price would have produced a loss of 16,900 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 211,000 yen
Offering size (at the offer price)
7.1 billion yen ・ 3,361,500 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: 株主区分に応じて180日・360日・1,080日など複数のロックアップ期間が設定
Company website
https://roxx.co.jp/

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.

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

What stands out

  • Revenue of about 4.5 billion yen in the year to September 2025 (up 29.8%), with Z Career revenue up 33.9%
  • Operating loss for the first nine months of the year to September 2026 narrowed to 399 million yen from 743 million yen a year earlier
  • Is expanding Z Career AI Interviewer, in which AI conducts interviews, to hiring in many industries such as moving services and restaurants

What could go wrong

  • The core business is still loss-making at the operating level; net profit of 1.05 billion yen in the year to September 2025 came from a one-off gain of about 1.9 billion yen on selling the back check business
  • Whether it returns to profit for the year to September 2026 depends on factors such as large deals closing in the fourth quarter
  • Recruitment placement depends on the economy and companies' appetite for hiring, and the fee is refunded if an introduced worker quits early

About the company

A company that runs "Z Career", a job-change service for non-desk workers who work on site rather than at a desk.

How it makes money

Its main model is introducing job seekers registered with Z Career to companies and receiving a fee from the company when a hire is made. If an introduced worker quits early, the fee is refunded. It also offers companies "Z Career AI Interviewer", a hiring-support service in which AI conducts interviews with applicants. During the year to September 2025 it spun off its reference-check service "back check" and sold it to En, Inc., and now focuses on Z Career.

Where growth is meant to come from

The company says hiring demand for non-desk workers remains firm amid labor shortages, though new job openings have recently been somewhat weak. It is focusing on improving AI-based matching and expanding adoption of Z Career AI Interviewer. For the year to September 2026 it forecasts revenue of 5.0 billion yen (up 10.8%), operating profit of 45 million yen and net profit of 1 million yen, but it posted an operating loss of 399 million yen in the first nine months, and the company says full-year results could be affected by whether large deals close in the fourth quarter.

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.