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YAMACHUU

山忠

名証メイン ・ Ticker 391A ・ Listed

Updated

Result on listing day

+0.0%

Offer price

2,600 yen

First traded price

2,600 yen

Selling 100 shares at the first traded price would have produced a gain of 0 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2025-07-11 — 2025-07-17
Lottery result
2025-07-18
Listing date
2025-07-29
Cash needed to apply for one lot (100 shares)
about 260,000 yen
Offering size (at the offer price)
494 million yen ・ 190,000 shares
Market capitalisation at listing
3.2 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 代表取締役ら上位株主に180日間、一部の取締役に90日間(オーバーアロットメントの設定なし)

Closing prices after listing

Compared with the first traded price of 2,600 yen.

2025-07-292,532 yen-2.6%
2025-07-302,483 yen-4.5%
2025-07-312,490 yen-4.2%
2025-08-012,489 yen-4.3%
2025-08-042,496 yen-4.0%

Brokers you can apply through

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

アイザワ証券SBI証券SMBC日興証券東海東京証券岡三証券安藤証券楽天証券松井証券岩井コスモ証券水戸証券丸三証券マネックス証券極東証券あかつき証券

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

What stands out

  • Revenue of 5.5 billion yen and operating profit of 857 million yen in the year to April 2026, with operating profit up 24.2%
  • Equity ratio improved from 34.9% at the end of April 2025 to 38.7% at the end of April 2026
  • Annual dividend of 88 yen a share for the year to April 2026, which included a commemorative listing dividend, with 78 yen forecast for the year to April 2027

What could go wrong

  • It is listed only on the Main Market of the Nagoya Stock Exchange, where trading is thin and it can be hard to deal at the price you want
  • Property development takes time from buying the land to selling the finished building, which leaves it exposed to interest rates and to the property market
  • Net profit fell 33.0% in the year to April 2026, and the company forecasts a further 6.6% decline for the year to April 2027

About the company

A property company based in Aichi Prefecture that plans and sells city centre apartments to individual investors, and also manages those buildings and runs its own business hotels.

How it makes money

It works through three segments. Development plans, builds and sells condominiums, mostly studio units under the Partir and Progresso brands, as well as commercial buildings under the Astrale brand. Stock covers management and leasing of buildings after they are sold, along with rental storage and meeting rooms. Hotel runs the Just Inn business hotel chain. Development brings profit in lumps while management, leasing and the hotels provide steadier monthly income, and the main buyers of the apartments are individuals purchasing a unit to build up assets.

Where growth is meant to come from

Its Just Inn business hotels comprise three properties with 497 rooms in total, at Nagoya Station, the Shinkansen exit of Toyohashi Station and in front of Matsusaka Station, and in July 2026 the company announced the start of a fourth project, tentatively named Just Inn Premium Nagoya Station Shinkansen Exit. In September 2026 it also published a medium term plan covering the years to April 2027 through April 2029. For the year to April 2027 the company forecasts revenue of 6.09 billion yen, up 10.7%, and net profit of 511 million yen, down 6.6%.

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.