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SmartHR Solutions IPO | IPO Radar Japan

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Growthlisted305A

SmartHR Solutions

スマートHRソリューションズ

SaaS · Listed 2025-03-05

Price Overview

Offer Price

¥3,200

Range: ¥2,800–¥3,300

First Day Open

¥5,100

First Day Close

¥4,800

Current Price

¥1,146

Post-IPO Returns

1st Day

—

7d

—

30d

—

90d

—

180d

—

1y

-64.2%

52W High

¥1,146

52W Low

¥1,146

Avg Volume

0

Business Description

SmartHR Solutions is Japan's leading cloud-based HR management platform serving over 60,000 companies. Automates payroll, attendance, and employee lifecycle management with Japanese labor law compliance.

Risk Factors

Intense competition in Japan HR SaaS market
High customer acquisition costs in SMB segment
Dependence on Japanese labor regulation complexity as moat

Offering Details

Lead UnderwriterGoldman Sachs

Bookbuilding2025-02-19 – 2025-02-25

Shares (Koubo)2,000,000

Shares (Uridashi)400,000

Overallotment360,000

Lock-up

Typeboth

Period180 days

Price Trigger¥4,800

Financials

Revenue (Latest)¥12M

Revenue (Prev)¥7M

Revenue Growth66.7%

Op. Margin15.0%

Net Income¥1M

Ownership

CEOShoji Miyata

Founder Ownership28.0%

VC Ownership32.0%

Employees900

Founded2015-01-01

Use of Proceeds

Product development, international expansion, enterprise sales team