TAUNS Laboratories

タウンズ

TSE Standard ・ Ticker 197A ・ Listed

Updated Oct 4, 2026

Result on listing day

-6.5%

Offer price

460 yen

First traded price

430 yen

Selling 100 shares at the first traded price would have produced a loss of 3,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building): 2024-06-05 — 2024-06-11
Lottery result: To be announced
Listing date: 2024-06-20
Cash needed to apply for one lot (100 shares): about 46,000 yen
Offering size (at the offer price): 11 billion yen ・ 24,253,500 shares
Market capitalisation at listing: 46 billion yen
Lock-up: Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: CITIC Capital系ファンドなどの主要株主および経営陣に180日間のロックアップが付されています。
Company website: https://www.tauns.co.jp/

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The joint lead underwriters are Daiwa Securities, Mitsubishi UFJ Morgan Stanley Securities, which receive the largest allocations.

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

What stands out

Domestic market share of 44% in influenza test kits (No. 1 of 15 companies) and 42% in COVID-19-only test kits (No. 1 of 20), for July 2025 to June 2026 according to IQVIA data cited in company materials
Has a progressive dividend policy, under which it will not cut its dividend below 29 yen a share per year, for the years to June 2027 through June 2031
Its new Fuji-san Mishima plant began full operation in February 2026

What could go wrong

In the year to June 2026, smaller COVID-19 outbreaks left revenue at 14.37 billion yen (down 22.9%) and ordinary profit at 3.95 billion yen (down 51.9%)
Revenue depends heavily on how widely infections spread, so results tend to fall in years with smaller outbreaks
The company expects selling prices to edge down again in the year to June 2027, and its forecast also builds in higher depreciation for the new plant and higher labor costs

About the company

A Shizuoka-based company that develops, makes and sells イムノエース (ImmunoAce) antigen test kits for infections such as influenza and COVID-19.

How it makes money

Its main products are antigen test kits for infections used at medical institutions, sold through pharmaceutical wholesalers to clinics across Japan. In the year to June 2026, combo kits that test for COVID-19 and influenza at the same time made up about 38% of revenue, COVID-19-only kits about 24% and influenza kits about 19%, with the rest coming from kits for adenovirus, strep throat and other infections.

Where growth is meant to come from

Its new Fuji-san Mishima plant began full operation in February 2026, and it aims to gain share with a new combo kit approved in July 2026. For the year to June 2027 it forecasts revenue of 16.73 billion yen (up 16.4%) and ordinary profit of 4.03 billion yen (up 1.9%). Because the previous year's subsidy income will not recur, it forecasts net profit of 2.97 billion yen (down 46.0%).

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.