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uridoki

ウリドキ

名証ネクスト ・ Ticker 418A ・ Listed

Updated

Result on listing day

+7.5%

Offer price

1,200 yen

First traded price

1,290 yen

Selling 100 shares at the first traded price would have produced a gain of 9,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-09-18 — 2025-09-25
Lottery result
2025-09-26
Listing date
2025-10-07
Cash needed to apply for one lot (100 shares)
about 120,000 yen
Offering size (at the offer price)
495 million yen ・ 412,400 shares
Market capitalisation at listing
2.5 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 創業者・資産管理会社などに180日間、ベンチャーキャピタル系株主に90日間(公開価格の1.5倍で解除)
Company website
https://uridoki.co.jp/

Closing prices after listing

Compared with the first traded price of 1,290 yen.

2025-10-071,331 yen+3.2%
2025-10-081,631 yen+26.4%
2025-10-091,530 yen+18.6%
2025-10-101,798 yen+39.4%
2025-10-141,714 yen+32.9%

Brokers you can apply through

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

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

What stands out

  • Carries no inventory; it simply provides the place where sellers and professional buyers meet
  • Operating revenue grew from 334 million yen in the year to November 2023 to 1.52 billion yen in the year to November 2025
  • Forecasts operating revenue of about 2.49 billion yen and net profit of about 310 million yen for the year to November 2026, raised in July 2026

What could go wrong

  • Two large customers made up 58.1% of operating revenue in the year to November 2024, so it leans heavily on a few clients
  • It depends on search engines to bring in users, so a change in search algorithms could reduce traffic and revenue
  • It has never paid a dividend and says it will keep prioritising retained earnings for now

About the company

Runs uridoki, a site that matches people who want to sell used goods with professional buyers, and uridoki plus, a media site about the reuse market.

How it makes money

It carries no inventory itself. It provides the place where sellers and professional appraisers meet, and is paid by the reuse dealers. Revenue comes from two sources: matching income charged on the number of appraisal requests, and its media site, which earns listing fees from dealers plus a success fee for each enquiry passed on. Media was about 60% of operating revenue in the year to November 2024, but by the first half of the year to November 2025 the matching side had almost caught up.

Where growth is meant to come from

The company steers by three figures: operating revenue, operating profit and operating margin. Its stated plan is to sign up more dealers in its main categories, which are watches, bags, gold and jewellery, and alcohol, and to keep improving the site. For the year to November 2026 it forecasts operating revenue of about 2.49 billion yen and net profit of about 310 million yen, both above the previous year, after raising the forecast in July 2026. It is also widening the ways it reaches sellers, through agreements with local governments and work with residential property companies.

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.