rYojbaba Co. Ltd.

General Information
Business:

Our focus is on health services to treat work-related stress and ailments. (Incorporated in Japan)

We provide health services through 28 osteopathic clinics and two osteopathic beauty salons to alleviate physical ailments primarily created by work-related stress, all directly operated by the company, as of May 8, 2025 (no franchised clinics or salons as of that date). Our services include acupuncture, judo therapy, massages and moxibustion.

We also provide labor and corporate consulting services to foster constructive employment relationships between companies and their employees. More specifically, we provide consulting services to labor unions as well as to companies wishing to build constructive relationships with labor unions. We provide consulting services to (i) labor unions to increase their membership rate, (ii) companies to support the practice of whistleblowing and stress checks, and (iii) both companies and labor unions to resolve disputes in a constructive manner.

We believe that work-induced stress is a serious and growing problem as profits over people dominate all sectors of contemporary business culture.

We believe that work-related stress not only affects the health and well-being of individual employees, but it also reduces employee productivity. 

Note: Ryoji Baba, our CEO and a member of our board of directors, beneficially owns a total of 8,024,000 common shares, which represents approximately 80.2% of the voting power of our outstanding common shares, directly and indirectly through Miracle Exploration Technologies Limited. Following this offering, Mr. Baba will control approximately 71.3% of the voting power of our outstanding common shares if all the common shares in this offering are sold (or 70.2% of our outstanding voting power if the underwriters’ option to purchase additional shares is exercised in full). As a result of his voting power, he will be able to control any action requiring the general approval of our shareholders, including the election of our board of directors.

Note: Net income and revenue are in U.S. dollars for the 12 months that ended Dec. 31, 2024 – the company’s Fiscal Year 2024.

(Note: D. Boral Capital is the sole book-runner of rYojbaba’s IPO, according to its F-1/A filing dated May 8, 2025. D. Boral Capital replaced Network 1 Financial and Boustead Securities, joint book-runners. Boustead Securities served as the original sole book-runner.)

(Note: rYojbaba priced its small IPO at $4.00 – the low end of its $4.00-to-$5.00 price range and sold 1.25 million shares – the number in the prospectus – to raise $5 million on Wednesday night, Aug. 13, 2025. This is a NASDAQ listing.)

(Background: rYojbaba filed its F-1 on Aug. 2, 2024, and disclosed terms for its IPO: The company is offering 1.25 million shares at a price range of $4.00 to $5.00 to raise $5.63 million ($5.625 million). This is a NASDAQ listing. (In the initial prospectus, rYojbaba said it intended to apply to list its stock on either the NYSE – American Exchange or the NASDAQ.)

Industry: Osteopathic Health Care Services & Labor Consulting
Employees: 323
Founded: 2015
Contact Information
Address 4-3-1, Ohashi, Minami-Ku Fukuoka-Shi, Fukuoka, 815-0033, Japan Telephone: +81 (92) 553-0344
Phone Number +81 (92) 553-0344
Web Address https://ryojbaba.com/
View Prospectus: rYojbaba Co. Ltd.
Financial Information
Market Cap $45.0mil
Revenues $11.58 mil (last 12 months)
Net Income $1.33 mil (last 12 months)
IPO Profile
Symbol RYOJ
Exchange NASDAQ
Shares (millions): 1.3
Price range $4.00 - $4.00
Est. $ Volume $5.0 mil
Manager / Joint Managers D. Boral Capital (ex-EF Hutton)/ Sutter Securities
CO-Managers
Expected To Trade: 8/14/2025
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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