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Tsuji Hongo IT Consulting

辻・本郷ITコンサルティング

TSE Standard ・ Ticker 476A Listed

Result on listing day

+61.1%

Offer price

1,850 yen

First traded price

2,980 yen

Selling 100 shares at the first traded price would have produced a gain of 113,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-12-04 — 2025-12-10
Lottery result
2025-12-11
Listing date
2025-12-19
Cash needed to apply for one lot (100 shares)
about 185,000 yen
Offering size (at the offer price)
1.2 billion yen ・ 655,500 shares
Market capitalisation at listing
3.6 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 親会社・伊藤忠商事・役員等に180日間(ベンチャーキャピタルは90日間・公開価格の1.5倍で解除)
Company website
https://ht-itc.jp/

Closing prices after listing

Compared with the first traded price of 2,980 yen.

2025-12-192,810 yen-5.7%
2025-12-222,436 yen-18.3%
2025-12-232,542 yen-14.7%
2025-12-242,541 yen-14.7%
2025-12-252,489 yen-16.5%

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The lead underwriter is SBI Securities, which receives the largest allocation.

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

What stands out

  • Work flows in through the networks of the Tsuji Hongo tax accounting group and Itochu
  • Revenue for the year to September 2025 rose 64.5% to 2.12 billion yen
  • The operating margin improved to 15.1% in the year to September 2025, from 8.5% a year earlier

What could go wrong

  • Hongo holdings, the parent company, remains the largest shareholder, so management decisions can be swayed by the parent
  • Listing costs and spending on staff and offices came first in the year to September 2026, and profit fell year on year over the first nine months
  • The company has never paid a dividend and says it will keep earnings inside the business for now

About the company

An IT consulting firm that helps accounting practices and mid-sized Japanese companies digitise back-office work such as bookkeeping and payroll.

How it makes money

It works in three areas: consulting, where specialists map a client's workflow and propose improvements; technology, where it implements cloud accounting software and builds systems; and operations, where it takes over bookkeeping, payroll and similar tasks. Technology accounts for more than half of revenue. The company belongs to the Tsuji Hongo tax accounting group, one of the largest in Japan, and has a capital and business alliance with Itochu, which is also a shareholder, so much of its work comes through those networks. Revenue for the year to September 2025 was 2.12 billion yen, up 64.5% from the previous year.

Where growth is meant to come from

For the year to September 2026 the company is guiding for revenue of 2.91 billion yen, up 37.2%, and operating profit of 430 million yen, up 33.8%. More security consulting work and cooperation with Itochu are lifting sales, but listing-related costs and spending on staff and a new office came first, so in the nine months to June 2026 revenue rose while operating profit fell short of the same period a year earlier.

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.