Schoo

TSE Growth ・ Ticker 264A ・ Listed

Updated Oct 3, 2026

Result on listing day

+10.3%

Offer price

690 yen

First traded price

761 yen

Selling 100 shares at the first traded price would have produced a gain of 7,100 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2024-10-03 — 2024-10-09
Lottery result: To be announced
Listing date: 2024-10-22
Cash needed to apply for one lot (100 shares): about 69,000 yen
Offering size (at the offer price): 4.3 billion yen ・ 6,237,100 shares
Market capitalisation at listing: 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・ベンチャーキャピタル等の主要株主に360日間(一部VC保有分は売出しにより対象外)
Company website: https://corp.schoo.jp/

Brokers you can apply through

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

野村證券 SMBC日興証券マネックス証券松井証券 SBI証券楽天証券岡三証券岡三オンライン (no longer offers IPOs)SBIネオトレード証券

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

What stands out

Has run an online learning service for working adults for more than ten years, with corporate training as its main business
In the year to September 2025 revenue was 3.36 billion yen, up 17.8%, and operating profit 0.29 billion yen, up 149.8%
Turned to an operating profit in the year to September 2024 and stayed profitable in the year to September 2025

What could go wrong

In the first nine months of the year to September 2026 revenue rose only 3.6% and operating profit fell 94.2% year on year, well behind the pace of the full-year forecast of 16.3% revenue growth
It is investing for growth, including a move into the HR field, and selling, general and administrative expenses rose to 1.95 billion yen for the nine months from 1.59 billion yen a year earlier
Most revenue is recurring fees from companies, so cuts to corporate training budgets or cancellations feed straight through to results

About the company

Runs Schoo, an online video learning service for working adults, with training for company employees as its main business.

How it makes money

Its main product is Schoo for Business, which companies use to train their staff. It also offers Schoo for Personal for individuals and Schoo Swing, a learning management platform for universities and other educational institutions. It reports a single segment, adult learning, and in the year to September 2025 services for learners made up 97.5% of revenue. It cites as its strengths a wide library of learning videos built up over more than ten years and a format that lets people learn together online.

Where growth is meant to come from

It calls the year to September 2026 a second founding phase. For large companies it is raising spend per client by pairing its service with Enterprise Drive, an organisational change consulting service, and in regional Japan it is reaching new customers with services such as LoLLL, which supports people relocating for work. The company forecasts revenue of 3.91 billion yen, up 16.3%, and net profit of 0.22 billion yen for the year to September 2026, but in the first nine months revenue rose only 3.6% and operating profit fell 94.2% year on year.

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.