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Vitabrid Japan

ビタブリッドジャパン

TSE Growth ・ Ticker 542A Listed

Result on listing day

-5.0%

Offer price

1,370 yen

First traded price

1,301 yen

Selling 100 shares at the first traded price would have produced a loss of 6,900 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2026-03-17 — 2026-03-24
Lottery result
2026-03-26
Listing date
2026-04-02
Cash needed to apply for one lot (100 shares)
about 137,000 yen
Offering size (at the offer price)
2.6 billion yen ・ 1,886,000 shares
Market capitalisation at listing
7.7 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・経営陣等に180日間

Closing prices after listing

Compared with the first traded price of 1,301 yen.

2026-04-021,279 yen-1.7%
2026-04-031,200 yen-7.8%
2026-04-061,184 yen-9.0%
2026-04-071,105 yen-15.1%
2026-04-081,110 yen-14.7%

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

  • Revenue from its main supplement, Terminalia First, passed 10 billion yen in the year to February 2026
  • Its own website accounted for 91.3% of total sales in the year to February 2025, with subscriptions at the core
  • Revenue and profit both rose in the year to February 2026, and the company forecasts further growth for February 2027

What could go wrong

  • Vector remains the parent company with the great majority of voting rights after the listing, so minority shareholders have limited influence
  • Sales are heavily concentrated in a small number of flagship products
  • New customers are won through advertising, so profit falls quickly when advertising efficiency drops. Recurring profit fell about 30% in the year to February 2025

About the company

A direct-to-consumer company that develops its own supplements and skincare products and sells them mainly through subscriptions on its own online store.

How it makes money

It develops its own products — the supplement Terminalia First, sold under Japan's foods-with-function-claims system, and the Vitabrid C skincare range built on its own patented technology — and sells them directly to consumers through its own online store. Subscriptions are the core of its revenue, and in the year to February 2025 its own site accounted for 91.3% of its total sales. It also wholesales to drugstores and sells through the large online marketplaces. Its parent is Vector, a PR company listed on the Tokyo Stock Exchange Prime market, which held 95.4% of the voting rights at the time of the listing application.

Where growth is meant to come from

Driven by Terminalia First, revenue in the year to February 2026 rose 21.2% to about 15.3 billion yen and operating profit rose 45.8% to about 1.02 billion yen. For the year to February 2027 the company forecasts revenue of 17.6 billion yen and operating profit of 1.1 billion yen, and it plans to widen its line-up with the GABA range and new products.

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.