Sapeet

TSE Growth ・ Ticker 269A ・ Listed

Updated Oct 3, 2026

Result on listing day

+52.3%

Offer price

1,500 yen

First traded price

2,285 yen

Selling 100 shares at the first traded price would have produced a gain of 78,500 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2024-10-11 — 2024-10-18
Lottery result: To be announced
Listing date: 2024-10-29
Cash needed to apply for one lot (100 shares): about 150,000 yen
Offering size (at the offer price): 557 million yen ・ 371,400 shares
Market capitalisation at listing: 2.3 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 親会社のPKSHA Technologyや築山英治代表取締役社長などの主要株主に180日間のロックアップが付されています。
Company website: https://sapeet.com/

Brokers you can apply through

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

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三菱UFJモルガン・スタンレー証券水戸証券あかつき証券三菱UFJ eスマート証券 DMM.com証券岡三オンライン (no longer offers IPOs)

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

What stands out

Revenue of about 1.0 billion yen in the year to September 2025, up 56.9%, turning to an operating profit of 0.055 billion yen
Operating profit of 0.14 billion yen in the first three quarters of the year to September 2026
Raised its forecast for the year to September 2026 twice, in May and August 2026

What could go wrong

It plans to concentrate growth investment such as hiring and office expansion in the fourth quarter, so its full-year operating profit forecast (0.12 billion yen) is lower than the cumulative figure for the first three quarters (0.14 billion yen)
AI solutions, which make up most of revenue, are mainly individual contract projects, so results can swing depending on whether large projects are won
Net profit of 0.071 billion yen for the year to September 2025 includes a reduction in tax expense (about 0.029 billion yen) from recognizing deferred tax assets

About the company

A company that develops and provides "Expert AI" for businesses, building specialists' know-how into tools such as AI that analyzes body posture and AI that acts as a practice partner for sales and customer service.

How it makes money

Revenue comes from two lines: "AI solutions", custom AI built for each client, and "AI products" such as the posture-analysis services "Shisei Karte" and "Multi Karte" and "Karty Role-play", which lets users practice sales and customer service with an AI partner. In the company's forecast for the year to September 2026, about three-quarters of revenue (1.39 billion yen) comes from AI solutions.

Where growth is meant to come from

Revenue has grown on new projects involving generative AI and AI agents, and the company turned an operating profit in the year to September 2025. For the year to September 2026 it forecasts revenue of 1.83 billion yen (up 83.7%) and net profit of 0.132 billion yen (up 88.6%), having raised its initial forecast (revenue of 1.4 billion yen and net profit of 0.082 billion yen) twice, in May and August 2026.

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.