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uSonar

ユーソナー

TSE Growth ・ Ticker 431A ・ Listed

Updated

Result on listing day

+17.5%

Offer price

2,000 yen

First traded price

2,350 yen

Selling 100 shares at the first traded price would have produced a gain of 35,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-10-01 — 2025-10-06
Lottery result
2025-10-07
Listing date
2025-10-17
Cash needed to apply for one lot (100 shares)
about 200,000 yen
Offering size (at the offer price)
5.3 billion yen ・ 2,662,200 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: 創業家・政策投資銀行などに180日間、VCの三井物産企業投資に90日間
Company website
https://usonar.co.jp/

Closing prices after listing

Compared with the first traded price of 2,350 yen.

2025-10-172,850 yen+21.3%
2025-10-202,770 yen+17.9%
2025-10-212,860 yen+21.7%
2025-10-222,791 yen+18.8%
2025-10-233,295 yen+40.2%

Brokers you can apply through

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

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

What stands out

  • Built on LBC, its own database covering about 12.5 million business locations in Japan
  • Services are sold mainly on monthly subscription contracts
  • For the year to December 2026 it forecasts revenue of 8.28 billion yen and operating profit of 1.76 billion yen, both above the previous year

What could go wrong

  • Earnings come from a single business segment, database marketing
  • In the year to December 2021 it booked about 1 billion yen as a one-off loss to repair its database and ended that year in the red
  • It has paid no dividend, including since listing

About the company

Runs a cloud service that cleans up and merges the scattered customer records a company holds, using its own database of Japanese business locations.

How it makes money

Its core asset is LBC, a proprietary database covering roughly 12.5 million business locations across Japan. Its cloud service uSonar matches a client's own customer records against LBC, standardises inconsistent company names and merges duplicates — work known in Japan as nayose. It is sold on monthly subscription contracts. Two related products run on the same base: PlanSonar for corporate planning teams and mSonar, a business-card app. The company reports a single segment, database marketing.

Where growth is meant to come from

Revenue grew from 4.04 billion yen in the year to December 2022 to 7.19 billion yen in the year to December 2025, and net profit rose for three straight years. For the year to December 2026 the company forecasts revenue of 8.28 billion yen, up 15.1%, and operating profit of 1.76 billion yen, up 26.9%. First-half revenue, for January to June 2026, was 4.08 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.