Overview
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LOIVE Co.,Ltd.

LOIVE operates a portfolio of women's-only boutique fitness studios in Japan under multiple brands, including hot yoga (loIve), surf fitness (Surf Fit Studio), machine Pilates (pilates K), group strength training (REDY'S GYM), and stretch circuits (NOBEE STRETCH). The company serves approximately 62,000 monthly subscription members (as of March 2025) through a direct-operated, group-lesson format with 45–60 minute classes, targeting women across all life stages (F1–F3 demographics). Its high-efficiency business model leverages small-footprint studios (65–80 tsubo), standardized operations, and multi-skilled instructors to achieve low break-even points and strong unit economics.

Market Cap
¥7.16B
US$45.7M
EV
¥10.5B
US$66.9M
Stock¥553▲+2.98%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
9.4
x
LTM EV/EBIT
17.8
x
LTM PER
21.0
x
LTM PBR
3.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-66.3%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
7.16BUS$45.7MMarket Cap4.47BUS$28.5M+ Debt1.14BUS$7.26M− Cash0.00BUS$0.00M− Inv. Sec.10.5BUS$66.9MEV
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Performance & Balance
Revenue 5Y (¥B)
8.49US$54.2M'25/311.4US$72.8M'26/3
EBITDA 5Y (¥B)
1.32US$8.42M'25/31.22US$7.77M'26/3
Net Income 5Y (¥B)
0.50US$3.19M'25/30.34US$2.19M'26/3
Capital Structure
34%
66%
EquityD/E 1.97xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
1.52US$9.70M3.39US$21.6M'25/31.16US$7.39M3.57US$22.8M'26/3
Shareholders
Top 10 hold 86.9%
1
Ayaka MAEKAWA
34.70%
2
Ayaka Co., Ltd.
24.90%
3
Akatsuki Inc.
6.80%
4
Custody Bank of Japan, Ltd. (Trust Account)
5.20%
5
Mitsubishi UFJ eSmart Securities Co., Ltd.
4.80%
6
LAVA International Co., Ltd.
3.30%
7
XTech No. 2 Investment Limited Partnership
3.10%
8
Shunsuke SATO
1.60%
9
Lotte Ventures Japan Investment Limited Partnership
1.50%
10
Takahiko SUMI
1.00%
Management
9 officers
Ayaka MAEKAWA
Representative Director, President
Apr 2008 Founded the Company; assumed office as Representative Director, President (current)
1978-12-14
Keita SHIMIZU
Director, Executive Vice President and CFO
Apr 2001 Joined Tohmatsu LLC (now Deloitte Touche Tohmatsu LLC) Jul 2006 Joined Dream Incubator Inc. Jul 2012 Joined Akindo Sushiro Co., Ltd. Jul 2013 Executive Officer, General Manager of Management Planning Division, Akindo Sushiro Co., Ltd. Jul 2015 Director and Executive Officer, Head of President's Office and in charge of Information Systems, Akindo Sushiro Co., Ltd. Feb 2016 Executive Officer in charge of Management Planning, Sushiro Global Holdings Ltd. (now FOOD & LIFE COMPANIES Ltd.) Jun 2017 Executive Officer in charge of Finance and Accounting, Sushiro Global Holdings Ltd. Oct 2019 Senior Executive Officer in charge of Finance, Accounting and Investment, Sushiro Global Holdings Ltd. Apr 2021 Executive Officer and CFO, Pan Pacific International Holdings Corporation Jul 2021 Audit & Supervisory Board Member, Don Quijote Co., Ltd. Sep 2021 Director and Executive Officer, CFO, Pan Pacific International Holdings Corporation Jan 2024 Managing Director and CFO of the Company Jan 2025 Director, Executive Vice President and CFO of the Company (current)
1978-05-02
Hiroe MOGI
Director
Sep 2007 Joined OCC Co., Ltd. Apr 2010 Director of the Company Apr 2012 Director of the Company; in charge of back office Apr 2015 Director of the Company; in charge of recruitment and general affairs Apr 2019 Director of the Company; General Manager, Human Resources Department and President's Office Apr 2021 Director of the Company; Head of Internal Audit Office and General Manager, Risk Management Department Dec 2024 Director of the Company; Head of Internal Audit Office and Head of President's Office Apr 2025 Director of the Company; Head of Internal Audit Office (current)
1974-11-15
Masaki SHIROTA
Director
Oct 1997 Joined Hikari Tsushin, Inc. Oct 2001 Joined Sony Corporation Oct 2003 Manager, Industrial Revitalization Corporation of Japan Apr 2004 Registered as Certified Public Accountant Jan 2006 General Manager, Management Administration Department, Fast Retailing Co., Ltd. Dec 2009 General Manager, Administration Division, Photo Create Co., Ltd. Sep 2013 Director, Industrial Growth Platform, Inc. Aug 2015 Executive Officer and CFO, Toreta Inc. Mar 2020 Joined the Company May 2021 Director and CFO of the Company Jan 2024 Director of the Company; General Manager, Administration Division (current)
1973-05-04
Kazuhiko ISHIKURA
Director (Note 1)
Dec 2005 Joined Azusa Audit LLC (now KPMG AZSA LLC) Jun 2014 Audit & Supervisory Board Member, Akatsuki Inc. Mar 2015 Director, 3 Minutes Inc. (now Green Lifestyle Co., Ltd.) Oct 2018 Director of the Company (current) Nov 2018 Executive Officer, Akatsuki Inc. Oct 2020 Outside Audit & Supervisory Board Member, Now Do Inc. (current) Dec 2021 Director, SDF Capital Inc. (current) Jan 2022 Representative Director, Akatsuki Ventures Inc. (current) Jun 2022 Director, Akatsuki Inc. Nov 2024 Representative, Emoote Pte. Ltd. (current) Jun 2025 Director and Vice President, Akatsuki Inc. (current) Nov 2025 Outside Director, Natee Inc. (current)
1980-07-10
Osamu KANAI
Director (Note 1)
Apr 2001 Joined NTT DOCOMO, Inc. Jul 2008 Joined Recruit Co., Ltd. Apr 2012 Joined Recruit Jobs Co., Ltd. (change of employer due to company split) Apr 2020 Executive Officer and Head of Marketing Unit, Recruit Careers Co., Ltd. and Recruit Jobs Co., Ltd. Apr 2021 Vice President, Marketing Office, Recruit Co., Ltd. Nov 2021 Director of the Company (current) Apr 2025 Established NexGen Inc.; CEO (current)
1978-09-29
Tadamichi SHIBANO
Full-time Audit & Supervisory Board Member (Note 2)
Apr 1976 Joined Mitsui & Co., Ltd. Feb 2019 Full-time Audit & Supervisory Board Member, Outsourcing Investment Co., Ltd. (now KIT Co., Ltd.) Dec 2021 Part-time Audit & Supervisory Board Member, Rakuten Bank, Ltd. (current) Apr 2022 Full-time Audit & Supervisory Board Member of the Company (current)
1952-11-07
Masako YAMAMOTO
Full-time Audit & Supervisory Board Member (Note 2)
Dec 2005 Joined ShinNihon Audit Corporation (now EY ShinNihon LLC) Jul 2009 Registered as Certified Public Accountant Apr 2016 Joined Mizuho Bank, New York Branch Oct 2018 Head, Masako Yamamoto CPA Office (current) Jun 2023 Full-time Audit & Supervisory Board Member of the Company (current)
1981-01-19
Mari FUJII
Audit & Supervisory Board Member (Note 2)
Oct 2006 Registered as attorney (Dai-Ni Tokyo Bar Association); joined Mori Hamada & Matsumoto Apr 2012 Joined Cabinet Office, Gender Equality Bureau Dec 2014 Full-time Audit & Supervisory Board Member, Trifort Inc. Jan 2019 Partner, Miura Law Office (current) Apr 2019 Vice President, Dai-Ni Tokyo Bar Association Apr 2020 Standing Director, Japan Federation of Bar Associations Aug 2022 Audit & Supervisory Board Member, MSY Co., Ltd. (current) Sep 2022 Outside Director (Audit and Supervisory Committee Member), Sunnyside Up Group Inc. (current) Dec 2022 Outside Director, Taito Corporation Jun 2023 Audit & Supervisory Board Member of the Company (current) Jul 2023 Outside Director, Johnny & Associates, Inc. (now SMILE-UP., Inc.) Director, mindful General Incorporated Association (current) May 2024
1981-12-21
Large Shareholding Reports
Ayaka MAEKAWA
2026-05-13
35.47%→34.75%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Annual report (as of 2026-03-31): 34.70%
Ayaka MAEKAWA
2026-05-13
35.47%→34.75%
Annual report (as of 2026-03-31): 34.70%
Ayaka MAEKAWA
2026-05-11
35.47%→34.75%
Annual report (as of 2026-03-31): 34.70%
Leos Capital Works Co., Ltd.
2026-03-06
4.49%→4.44%
Leos Capital Works Co., Ltd.
2025-12-22
4.49%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINETAmended
2026-05-13
Change Report
EDINET
2026-05-13
Large Shareholding Report
EDINET
2026-05-11
Large Shareholding Report
EDINET
2026-03-06
Large Shareholding Report
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-22
Large Shareholding Report
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINETAmended
2025-04-16
Amended Securities Registration Statement
EDINETAmended
2025-04-08
Amended Securities Registration Statement
EDINET
2025-03-21
Securities Registration Statement
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