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WOLVES HAND

TSE Growth ・ Ticker 194A ・ Listed

Updated

Result on listing day

+13.6%

Offer price

770 yen

First traded price

875 yen

Selling 100 shares at the first traded price would have produced a gain of 10,500 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-06-05 — 2024-06-11
Lottery result
To be announced
Listing date
2024-06-20
Cash needed to apply for one lot (100 shares)
about 77,000 yen
Offering size (at the offer price)
809 million yen ・ 1,050,000 shares
Market capitalisation at listing
6.1 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 代表取締役など主要株主に180日間のロックアップが付されており、投資ファンド等には公開価格の1.5倍以上で解除される条項があります。
Company website
https://wolveshand.jp/

Brokers you can apply through

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

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

What stands out

  • Revenue of 6.16 billion yen in the year to June 2026 (up 12.7%) and operating profit of 1.13 billion yen (up 23.9%), with both rising
  • As of the end of June 2026 it had 115 veterinarians and ran 39 hospitals
  • Plans its first-ever dividend (26 yen a share for the year) for the year to June 2027, according to the company's forecast

What could go wrong

  • Competition to hire veterinarians is intense, and growth could suffer if hiring falls short of plan
  • Hospitals added through acquisitions may not be integrated as smoothly as expected
  • Net profit for the year to June 2026 includes a one-off gain from an acquisition (a negative goodwill gain of 227 million yen), and the company forecasts net profit growth of only 7.0% for the year to June 2027

About the company

Runs a network of veterinary hospitals, mainly in the Kansai and Kanto regions, covering everything from everyday pet care to advanced treatment using CT and MRI.

How it makes money

Most revenue comes from fees for treating animals at its hospitals. As of the end of June 2026 it ran 39 hospitals in 10 prefectures including Osaka, Tokyo, Fukuoka and Hokkaido, made up of 12 center hospitals equipped with CT, MRI and other advanced machines and 27 satellite hospitals that handle everyday care. It also runs pet grooming salons, develops software for veterinary hospitals, and makes and sells medical equipment.

Where growth is meant to come from

The company plans to add hospitals by acquiring small veterinary clinics and opening its own. For the year to June 2027 it forecasts revenue of 7.54 billion yen (up 22.4%) and operating profit of 1.57 billion yen (up 39.3%); the forecast does not include any new acquisitions or openings.

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.