Beginners IPO🔰 New to IPOs? Start here
← Back to the IPO list

Thinca

シンカ

TSE Growth ・ Ticker 149A ・ Listed

Updated

Result on listing day

+26.6%

Offer price

1,320 yen

First traded price

1,671 yen

Selling 100 shares at the first traded price would have produced a gain of 35,100 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-03-11 — 2024-03-15
Lottery result
To be announced
Listing date
2024-03-27
Cash needed to apply for one lot (100 shares)
about 132,000 yen
Offering size (at the offer price)
941 million yen ・ 713,000 shares
Market capitalisation at listing
4.2 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 代表取締役等に180日間、VC等は90日間/1.5倍解除条項付き

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.

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

What stands out

  • A service that is easy to picture in use, with caller details and past contact history appearing the moment the phone rings
  • Charged monthly per site, with 3,182 companies and 6,202 sites signed up as of the end of December 2025
  • Revenue rose for seven straight years, from 170 million yen in the year to December 2018 to 1.46 billion yen in the year to December 2025

What could go wrong

  • Because of that strategic investment, the company forecasts an operating loss of 579 million yen and a net loss of 546 million yen for the year to December 2026, even with revenue growing
  • Almost all of its revenue comes from a single service, KAIKURA
  • In August 2026 the company disclosed unauthorised access to its service information website, and in September announced that all of its sites were back online

About the company

Provides KAIKURA, a cloud service that brings a company's phone calls, text messages and email with its customers together on a single screen.

How it makes money

Its core product is the customer-contact cloud service KAIKURA. When a call comes in, the caller's details and the history of past contacts appear on screen, so any member of staff can pick up the conversation even when the usual contact is away. Customers pay a monthly fee per site, which gives the company recurring revenue, and it sells mainly to car dealerships and other businesses that handle many calls and face-to-face customers.

Where growth is meant to come from

The plan is to lift revenue per site through additional sales to existing customers and revised pricing, while expanding features that use generative AI to automate customer handling. For the year to December 2026 the company forecasts revenue of 1,858 million yen, up 26.9%, alongside an operating loss of 579 million yen and a net loss of 546 million yen, because it intends to invest heavily in hiring and in AI.

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.