Techno Craft

テクノクラフト

TSE Standard ・ Ticker 622A ・ Upcoming

Application period (book building): 2026-09-03 — 2026-09-09
Lottery result: 2026-09-10
Listing date: 2026-09-18
Cash needed to apply for one lot (100 shares): about 63,000 yen
Offering size (estimated): 1.4 billion yen ・ 2,215,500 shares
Market capitalisation at listing: 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: 既存株主の多くに180日間（一部は公開価格の1.5倍を超えると解除）。対象は上場前株式の約98%
Company website: https://www.tecraft.co.jp/

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 SBI証券野村證券大和証券三菱UFJモルガン・スタンレー証券岡三にいがた証券第四北越証券DMM.com証券大和コネクト証券

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

What stands out

Its cart navigation is installed at 1,148 of Japan's 2,096 golf courses as of the end of December 2025, among the largest installed bases in the country
Recurring usage income was 1.41 billion yen of 2.37 billion yen in revenue, and annual churn in cart navigation was 0.63%
Through the first three quarters of the year to September 2026 ordinary profit reached 250 million yen, already above the 110 million yen booked for the whole of the previous year

What could go wrong

Revenue slipped from 2.40 billion yen in the year to September 2024 to 2.37 billion yen in the year to September 2025, and net profit fell from 95 million yen to 64 million yen
About 78% of the shares on offer are being sold by existing shareholders, and one venture capital fund is selling its entire holding of 1,152,200 shares and leaving the register
Of 1.41 billion yen in recurring income, 1.14 billion yen comes from the golf business, so earnings are concentrated on golf course customers

About the company

A company whose golf cart navigation and fleet management system, Marshal Navi, is among the most widely installed systems of its kind in Japan, and which also sells administrative software for nurseries and kindergartens and wearable health monitoring services.

How it makes money

It sells golf courses a package made up of in-cart navigation terminals and a clubhouse system that tracks where every cart is and which groups are running late, earning an upfront fee for the hardware plus a monthly usage fee. Of revenue of 2.37 billion yen in the year to September 2025, 1.41 billion yen (59.5%) was recurring usage income, and the annual churn rate in cart navigation was 0.63%. Beyond golf it is building two further lines, Commu Navi, an administrative system used by 1,052 nurseries and kindergartens as of the end of September 2025, and a health monitoring service that uses smartwatches to watch over workers in hot or hazardous sites.

Where growth is meant to come from

Its stated route to growth is to sell courses that already use its system extra features such as larger screens and front-and-rear dash cameras, lifting annual revenue per installed course, which was 969,000 yen in the year to September 2025. Proceeds from the listing, up to about 390 million yen net, are earmarked for next-generation cart navigation tablets and high-precision positioning devices, for the approval work needed to offer its health monitoring software as a medical device, and for rebuilding the technical foundations of Commu Navi.

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.