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Wellness Communications

ウェルネス・コミュニケーションズ

TSE Growth ・ Ticker 366A ・ Listed

Updated

Result on listing day

+33.1%

Offer price

2,480 yen

First traded price

3,300 yen

Selling 100 shares at the first traded price would have produced a gain of 82,000 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-06-05 — 2025-06-11
Lottery result
2025-06-12
Listing date
2025-06-23
Cash needed to apply for one lot (100 shares)
about 248,000 yen
Offering size (at the offer price)
4.3 billion yen ・ 1,724,500 shares
Market capitalisation at listing
15 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 上位株主に90日間または180日間
Company website
https://wellcoms.jp/

Closing prices after listing

Compared with the first traded price of 3,300 yen.

2025-06-233,660 yen+10.9%
2025-06-243,705 yen+12.3%
2025-06-253,400 yen+3.0%
2025-06-263,345 yen+1.4%
2025-06-272,995 yen-9.2%

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

  • Health checkups are legally required of Japanese employers, and customer retention across its two main businesses averaged 99.6% (as of March 2025)
  • Revenue has kept rising, from 13.27 billion yen (year to March 2024) to 14.06 billion yen (2025) and 14.78 billion yen (2026)
  • Nearly 20 years focused on health checkup services, mainly for large companies with 1,000 to 50,000 employees

What could go wrong

  • It handles large amounts of sensitive personal health data, so a data leak would have a serious impact
  • About 90% of revenue comes from health checkup services, where demand is stable but unlikely to grow sharply
  • At listing, SOMPO Holdings and LHP Holdings, L.P. were the largest shareholders, and how they handle their stakes could affect supply and demand for the shares

About the company

Handles companies' employee health checkups from booking and payment to digitizing results, and also offers Growbase, a cloud service for managing employee health data.

How it makes money

Its main business, accounting for about 90% of revenue, is a network health checkup service. Working with 2,164 partner medical institutions nationwide (as of March 2025), it takes on booking, payment and data entry of results for companies and health insurance societies, charging an annual fee per examinee. It also sells Growbase, a cloud service that brings together checkup results and stress check data, priced monthly by the number of employee IDs. Its customers are mainly large companies with 1,000 to 50,000 employees.

Where growth is meant to come from

In February 2026 it acquired 67.6% of Ashita no Team, which helps small and mid-sized companies design and run staff evaluation systems, making it a subsidiary so it can support companies on both health and HR. The company forecasts net income of 1.15 billion yen for the year to March 2027, up from 0.82 billion yen in the year to March 2026.

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.