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TOKIUM Inc.

TOKIUM

TSE Growth ・ Ticker 664A ・ Upcoming

Updated

Application period (book building)
2026-11-09 — 2026-11-13
Lottery result
2026-11-16
Listing date
2026-11-25
Cash needed to apply for one lot (100 shares)
about 162,000 yen
Offering size (estimated)
3.2 billion yen ・ 1,975,000 shares
Market capitalisation at listing
17 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 黒﨑賢一氏・株式会社96など既存株主の一部と新株予約権者に180日間、売出人のベンチャーキャピタル8ファンドを含むその他の主要株主に90日間(発行価格の1.5倍以上での売却は期間中でも可能)

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

  • Takes over whole accounting processes with software plus people, serving 2,327 customers including 278 listed companies
  • Revenue rose 29.7% in the year to May 2026, and the company made a profit for the first time since it was founded
  • The average monthly churn rate over 12 months was low at 0.27% as of the end of August 2026, and the largest single customer accounts for only 1.19% of monthly recurring revenue

What could go wrong

  • Venture capital funds and similar investors hold 58.9% of the shares before the offering, and 64.1% of the shares on offer are sales by existing shareholders, so selling pressure is likely after listing
  • The year to May 2026 was its first profitable year, and profit is still small, with net profit of about 30 million yen
  • It relies on AI models such as large language models from outside providers, so outages or price rises at those providers could affect it

About the company

A company that takes over entire accounting tasks, such as receiving invoices and processing expense claims, by combining AI, its own software and human operators under the name of an "accounting AI agent".

How it makes money

It handles accounting work such as expense claims, invoice payments, document management and contract management on behalf of its customers, combining its own cloud services and AI with scan centres in Tokyo and Chiba and operators working around the clock. Revenue comes from an initial fee, a monthly base fee and usage charges based on the volume processed, and contracts are generally renewed every year, so the revenue is recurring. At the end of August 2026 it had 2,327 customers, including 278 listed companies, and mid-sized and large companies made up more than 80% of its annual recurring revenue (ARR).

Where growth is meant to come from

Its strategy is to raise revenue per customer by having each customer use several of its services, and the average number of services used per customer rose from 1.27 at the end of May 2023 to 1.45 at the end of August 2026. In the year to May 2026 revenue was 5.97 billion yen, up 29.7%, and it made its first profit since its founding. In the first quarter of the year to May 2027 (June to August 2026) revenue was 1.74 billion yen and operating profit 0.25 billion yen.

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.