SHINWA HOLDINGS

伸和ホールディングス

札証アンビシャス・ Ticker 7118 ・ Listed

Updated Oct 4, 2026

Result on listing day

-7.3%

Offer price

1,650 yen

First traded price

1,530 yen

Selling 100 shares at the first traded price would have produced a loss of 12,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2024-10-02 — 2024-10-08
Lottery result: To be announced
Listing date: 2024-10-21
Cash needed to apply for one lot (100 shares): about 165,000 yen
Offering size (at the offer price): 281 million yen ・ 170,000 shares
Market capitalisation at listing: 2.2 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 株式会社STTおよび佐々木稔之氏・佐々木智範氏ら役員・主要株主に180日間
Company website: https://shinwa-holdings.co.jp/

Brokers you can apply through

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

アイザワ証券マネックス証券 SBI証券岡三証券東海東京証券東洋証券北洋証券あかつき証券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 6.7 billion yen in the year to March 2026, up 5.1%, with both restaurants and retail growing
Added a listing on the Nagoya Stock Exchange's Next market in May 2026, and opened its first shop in the Tokai region in August and its first in Nagoya in September
An annual dividend of 37 yen for the year to March 2026, with 38 yen forecast for the year to March 2027

What could go wrong

In the year to March 2026, rising ingredient and labor costs and other factors cut operating profit by 2.9% and net profit attributable to owners of the parent by 24.4%
Its home base is Hokkaido, so it is exposed to the regional economy, weather and tourist flows there
It trades on the emerging-company markets of the Sapporo and Nagoya exchanges, where trading volume tends to be thinner than for Tokyo Stock Exchange stocks

About the company

A Sapporo-based restaurant company that runs the yakitori-focused izakaya chain "En" and takeout yakitori and deli shops in Hokkaido, the Tohoku region and the Tokyo area.

How it makes money

In the year to March 2026, about 63% of revenue came from its restaurant business, centered on izakaya pubs, and about 36% from its retail business selling yakitori and deli food for takeout. At the end of March 2026 it had 43 restaurants and 58 retail shops, and it also runs its own factory. It also sells frozen processed foods developed jointly with major food makers on a wholesale basis.

Where growth is meant to come from

It listed on the Tokyo Stock Exchange's market for professional investors (TOKYO PRO Market) in January 2023, moved to the Sapporo Securities Exchange's Ambitious market in October 2024, and since May 28, 2026 has also been listed on the Nagoya Stock Exchange's Next market. In August 2026 it opened its first "Hokkaido Yakitori En" in the Tokai region, in Tokai City, Aichi, followed in September by its first shop in Nagoya. For the year to March 2027 it forecasts revenue of 6.81 billion yen (up 1.6%) and net profit attributable to owners of the parent of 0.17 billion yen (up 26.0%).

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.