Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-25
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 147
MetricValuePeriodScopeSource row
Revenue¥69.3bn2025-01-01 → 2025-12-31Cons.Net sales
Revenue¥64.5bn2024-01-01 → 2024-12-31Cons.Net sales
Revenue¥41.3bn2023-01-01 → 2023-12-31vCons.Net sales (5-year summary)
Revenue¥35.7bn2022-01-01 → 2022-12-31vCons.Net sales (5-year summary)
Operating income¥7.4bn2025-01-01 → 2025-12-31Cons.Operating income
Operating income¥5.7bn2024-01-01 → 2024-12-31Cons.Operating income
Ordinary income¥6.7bn2025-01-01 → 2025-12-31Cons.Ordinary income
Ordinary income¥5.1bn2024-01-01 → 2024-12-31Cons.Ordinary income
Ordinary income¥4.3bn2023-01-01 → 2023-12-31vCons.Ordinary income loss (5-year summary)
Ordinary income¥2.3bn2022-01-01 → 2022-12-31vCons.Ordinary income loss (5-year summary)
Profit before tax¥6.7bn2025-01-01 → 2025-12-31Cons.Income before income taxes
Profit before tax¥5.3bn2024-01-01 → 2024-12-31Cons.Income before income taxes
Net income (owners)¥4.6bn2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥3.4bn2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent
Net income (owners)¥2.9bn2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥1.5bn2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥4.6bn2025-01-01 → 2025-12-31Cons.Profit loss
Net income¥3.4bn2024-01-01 → 2024-12-31Cons.Profit loss
Total assets¥47.7bnat 2025-12-31Cons.Assets
Total assets¥36.4bnat 2024-12-31Cons.Assets
Total assets¥32.0bnat 2023-12-31vCons.Total assets (5-year summary)
Total assets¥32.3bnat 2022-12-31vCons.Total assets (5-year summary)
Total liabilities¥32.7bnat 2025-12-31Cons.Liabilities
Total liabilities¥24.8bnat 2024-12-31Cons.Liabilities
Net assets / equity¥15.0bnat 2025-12-31Cons.Net assets
Net assets / equity¥11.6bnat 2024-12-31Cons.Net assets
Net assets / equity¥8.9bnat 2023-12-31vCons.Net assets
Net assets / equity¥6.4bnat 2022-12-31vCons.Net assets (5-year summary)
Cash and deposits¥14.6bnat 2025-12-31Cons.Cash and deposits
Cash and deposits¥11.3bnat 2024-12-31Cons.Cash and deposits
Cash & equivalents¥14.5bnat 2025-12-31Cons.Cash and cash equivalents
Cash & equivalents¥11.3bnat 2024-12-31Cons.Cash and cash equivalents
Cash & equivalents¥8.6bnat 2023-12-31vCons.Cash and cash equivalents
Cash & equivalents¥3.5bnat 2022-12-31vCons.Cash and cash equivalents (5-year summary)
Operating cash flow−¥3.2bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥731m2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities
Operating cash flow¥10.4bn2023-01-01 → 2023-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥8.3bn2022-01-01 → 2022-12-31vCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow−¥353m2025-01-01 → 2025-12-31Cons.Net cash provided by used in investment activities
Investing cash flow¥1.6bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in investment activities
Investing cash flow−¥2.0bn2023-01-01 → 2023-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow¥5m2022-01-01 → 2022-12-31vCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow¥6.8bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities
Financing cash flow¥423m2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities
Financing cash flow−¥3.3bn2023-01-01 → 2023-12-31vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥9.3bn2022-01-01 → 2022-12-31vCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥288.032025-01-01 → 2025-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥213.282024-01-01 → 2024-12-31Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥180.382023-01-01 → 2023-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥91.782022-01-01 → 2022-12-31vCons.Basic earnings loss per share (5-year summary)
EPS (diluted)¥287.362025-01-01 → 2025-12-31Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥213.282024-01-01 → 2024-12-31Cons.Diluted earnings per share (5-year summary)
EPS (diluted)¥180.22023-01-01 → 2023-12-31vCons.Diluted earnings per share (5-year summary)
EPS (diluted)¥91.642022-01-01 → 2022-12-31vCons.Diluted earnings per share (5-year summary)
Net assets per share¥936at 2025-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥722.65at 2024-12-31Cons.Net assets per share (5-year summary)
Net assets per share¥558.32at 2023-12-31vCons.Net assets per share (5-year summary)
Net assets per share¥404.38at 2022-12-31vCons.Net assets per share (5-year summary)
Equity ratio31.3%at 2025-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio31.8%at 2024-12-31Cons.Equity to asset ratio (5-year summary)
Equity ratio27.9%at 2023-12-31vCons.Equity to asset ratio (5-year summary)
Equity ratio19.9%at 2022-12-31vCons.Equity to asset ratio (5-year summary)
ROE34.8%2025-01-01 → 2025-12-31Cons.Rate of return on equity (5-year summary)
ROE33.3%2024-01-01 → 2024-12-31Cons.Rate of return on equity (5-year summary)
ROE37.5%2023-01-01 → 2023-12-31vCons.Rate of return on equity (5-year summary)
ROE22.7%2022-01-01 → 2022-12-31vCons.Rate of return on equity (5-year summary)
Employees155at 2025-12-31Cons.Number of employees
Employees150at 2024-12-31Cons.Number of employees
Employees129at 2023-12-31vCons.Number of employees
Employees127at 2022-12-31vCons.Number of employees
Revenue¥68.8bn2025-01-01 → 2025-12-31StandaloneNet sales
Revenue¥64.2bn2024-01-01 → 2024-12-31StandaloneNet sales
Revenue¥41.1bn2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥35.5bn2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥30.7bn2021-01-01 → 2021-12-31dStandaloneNet sales (5-year summary)
Operating income¥7.8bn2025-01-01 → 2025-12-31StandaloneOperating income
Operating income¥6.0bn2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income¥7.1bn2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥5.4bn2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income¥4.2bn2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥2.3bn2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥1.5bn2021-01-01 → 2021-12-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax¥7.1bn2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥5.5bn2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income¥5.0bn2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥3.7bn2024-01-01 → 2024-12-31StandaloneProfit loss
Net income¥2.8bn2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income¥1.5bn2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income¥1.4bn2021-01-01 → 2021-12-31dStandaloneNet income loss (5-year summary)
Total assets¥48.1bnat 2025-12-31StandaloneAssets
Total assets¥36.6bnat 2024-12-31StandaloneAssets
Total assets¥32.0bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥32.3bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥21.8bnat 2021-12-31dStandaloneTotal assets (5-year summary)
Total liabilities¥32.6bnat 2025-12-31StandaloneLiabilities
Total liabilities¥24.7bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥15.6bnat 2025-12-31StandaloneNet assets
Net assets / equity¥11.8bnat 2024-12-31StandaloneNet assets
Net assets / equity¥8.9bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥6.4bnat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥5.2bnat 2021-12-31dStandaloneNet assets (5-year summary)
Cash and deposits¥14.5bnat 2025-12-31StandaloneCash and deposits
Cash and deposits¥11.2bnat 2024-12-31StandaloneCash and deposits
Cash & equivalents¥2.4bnat 2021-12-31dStandaloneCash and cash equivalents (5-year summary)
Operating cash flow−¥574m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in operating activities (5-year summary)
Investing cash flow¥366m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in investing activities (5-year summary)
Financing cash flow¥580m2021-01-01 → 2021-12-31dStandaloneNet cash provided by used in financing activities (5-year summary)
EPS (basic)¥311.552025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥229.442024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥178.332023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥91.452022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥91.062021-01-01 → 2021-12-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (diluted)¥310.822025-01-01 → 2025-12-31StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥229.442024-01-01 → 2024-12-31StandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥178.162023-01-01 → 2023-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥91.312022-01-01 → 2022-12-31vStandaloneDiluted earnings per share (5-year summary)
EPS (diluted)¥89.862021-01-01 → 2021-12-31dStandaloneDiluted earnings per share (5-year summary)
Dividend per share¥80.52025-01-01 → 2025-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥1302024-01-01 → 2024-12-31StandaloneDividend paid per share (5-year summary)
Dividend per share¥1002023-01-01 → 2023-12-31vStandaloneDividend paid per share (5-year summary)
Dividend per share¥52.52022-01-01 → 2022-12-31vStandaloneDividend paid per share (5-year summary)
Dividend per share¥352021-01-01 → 2021-12-31dStandaloneDividend paid per share (5-year summary)
Net assets per share¥973.82at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥736.89at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥556.41at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥404.51at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥330.43at 2021-12-31dStandaloneNet assets per share (5-year summary)
Equity ratio32.2%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio32.3%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio27.8%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio19.9%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio24.1%at 2021-12-31dStandaloneEquity to asset ratio (5-year summary)
ROE36.5%2025-01-01 → 2025-12-31StandaloneRate of return on equity (5-year summary)
ROE35.5%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
ROE37.1%2023-01-01 → 2023-12-31vStandaloneRate of return on equity (5-year summary)
ROE24.9%2022-01-01 → 2022-12-31vStandaloneRate of return on equity (5-year summary)
ROE30.7%2021-01-01 → 2021-12-31dStandaloneRate of return on equity (5-year summary)
Shares issued16,043,516at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued8,006,008at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued7,996,544at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued7,961,444at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued7,922,752at 2021-12-31dStandaloneTotal number of issued shares (5-year summary)
Employees132at 2025-12-31StandaloneNumber of employees
Employees134at 2024-12-31StandaloneNumber of employees
Employees129at 2023-12-31vStandaloneNumber of employees
Employees127at 2022-12-31vStandaloneNumber of employees
Employees119at 2021-12-31dStandaloneNumber of employees

Periods use the dates stated in the filing. d = earlier-year period dated by calendar; v = that date confirmed by the company's own earlier filing.

Segments · 2
SegmentItemPeriodValue
Real Estate Solutionreportable segmentemployeesat 2025-12-31155 pure
Real Estate Solutionreportable segmentemployeesat 2025-12-31132 pure

Segment names come from EDINET member IDs; not yet mapped to a common taxonomy.

All source rows · 1,318
ItemContextValueUnit
Total assets (5-year summary)Prior2YearInstant_NonConsolidatedMember32002975000JPY
Total assets (5-year summary)Prior1YearInstant_NonConsolidatedMember36563372000JPY
Total assets (5-year summary)CurrentYearInstant_NonConsolidatedMember48146969000JPY
Net assets per share (5-year summary)Prior4YearInstant_NonConsolidatedMember330.43
Net assets per share (5-year summary)Prior3YearInstant_NonConsolidatedMember404.51
Net assets per share (5-year summary)Prior2YearInstant_NonConsolidatedMember556.41
Net assets per share (5-year summary)Prior1YearInstant_NonConsolidatedMember736.89
Net assets per share (5-year summary)CurrentYearInstant_NonConsolidatedMember973.82
Dividend paid per share (5-year summary)Prior4YearDuration_NonConsolidatedMember35.00
Dividend paid per share (5-year summary)Prior3YearDuration_NonConsolidatedMember52.50
Dividend paid per share (5-year summary)Prior2YearDuration_NonConsolidatedMember100.00
Dividend paid per share (5-year summary)Prior1YearDuration_NonConsolidatedMember130.00
Dividend paid per share (5-year summary)CurrentYearDuration_NonConsolidatedMember80.50
Interim dividend paid per share (5-year summary)Prior4YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)Prior3YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)Prior2YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)Prior1YearDuration_NonConsolidatedMember-
Interim dividend paid per share (5-year summary)CurrentYearDuration_NonConsolidatedMember-
Basic earnings loss per share (5-year summary)Prior4YearDuration_NonConsolidatedMember91.06
Basic earnings loss per share (5-year summary)Prior3YearDuration_NonConsolidatedMember91.45
Basic earnings loss per share (5-year summary)Prior2YearDuration_NonConsolidatedMember178.33
Basic earnings loss per share (5-year summary)Prior1YearDuration_NonConsolidatedMember229.44
Basic earnings loss per share (5-year summary)CurrentYearDuration_NonConsolidatedMember311.55
Diluted earnings per share (5-year summary)Prior4YearDuration_NonConsolidatedMember89.86
Diluted earnings per share (5-year summary)Prior3YearDuration_NonConsolidatedMember91.31
Diluted earnings per share (5-year summary)Prior2YearDuration_NonConsolidatedMember178.16
Diluted earnings per share (5-year summary)Prior1YearDuration_NonConsolidatedMember229.44
Diluted earnings per share (5-year summary)CurrentYearDuration_NonConsolidatedMember310.82
Equity to asset ratio (5-year summary)Prior4YearInstant_NonConsolidatedMember0.241
Equity to asset ratio (5-year summary)Prior3YearInstant_NonConsolidatedMember0.199
Equity to asset ratio (5-year summary)Prior2YearInstant_NonConsolidatedMember0.278
Equity to asset ratio (5-year summary)Prior1YearInstant_NonConsolidatedMember0.323
Equity to asset ratio (5-year summary)CurrentYearInstant_NonConsolidatedMember0.322
Rate of return on equity (5-year summary)Prior4YearDuration_NonConsolidatedMember0.307
Rate of return on equity (5-year summary)Prior3YearDuration_NonConsolidatedMember0.249
Rate of return on equity (5-year summary)Prior2YearDuration_NonConsolidatedMember0.371
Rate of return on equity (5-year summary)Prior1YearDuration_NonConsolidatedMember0.355
Rate of return on equity (5-year summary)CurrentYearDuration_NonConsolidatedMember0.365
Price earnings ratio (5-year summary)Prior4YearDuration_NonConsolidatedMember4.94
Price earnings ratio (5-year summary)Prior3YearDuration_NonConsolidatedMember6.30
Price earnings ratio (5-year summary)Prior2YearDuration_NonConsolidatedMember6.16
Price earnings ratio (5-year summary)Prior1YearDuration_NonConsolidatedMember5.90
Price earnings ratio (5-year summary)CurrentYearDuration_NonConsolidatedMember6.83
Payout ratio (5-year summary)Prior4YearDuration_NonConsolidatedMember0.192
Payout ratio (5-year summary)Prior3YearDuration_NonConsolidatedMember0.287
Payout ratio (5-year summary)Prior2YearDuration_NonConsolidatedMember0.280
Payout ratio (5-year summary)Prior1YearDuration_NonConsolidatedMember0.283
Payout ratio (5-year summary)CurrentYearDuration_NonConsolidatedMember0.258
Net cash provided by used in operating activities (5-year summary)Prior4YearDuration_NonConsolidatedMember-574262000JPY
Net cash provided by used in operating activities (5-year summary)Prior3YearDuration_NonConsolidatedMember-JPY

Every row of the EDINET CSV. Item names are the XBRL element names; filed text is kept in its original Japanese. Filed text is available on Plus and Pro.

Data checks · 24 of 24 passed
balance sheet identityconsolidated 2024-12-31pass
balance sheet identityconsolidated 2025-12-31pass rounding
balance sheet identitynon_consolidated 2024-12-31pass rounding
balance sheet identitynon_consolidated 2025-12-31pass rounding
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-12-31pass
statement vs summary · net assetsconsolidated 2024-12-31pass
statement vs summary · net assetsconsolidated 2025-12-31pass
statement vs summary · net assetsnon_consolidated 2023-12-31pass
statement vs summary · net assetsnon_consolidated 2024-12-31pass
statement vs summary · net assetsnon_consolidated 2025-12-31pass
statement vs summary · net income attributable to parentconsolidated 2024-01-01/2024-12-31pass
statement vs summary · net income attributable to parentconsolidated 2025-01-01/2025-12-31pass
statement vs summary · operating cash flowconsolidated 2024-01-01/2024-12-31pass
statement vs summary · operating cash flowconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenueconsolidated 2024-01-01/2024-12-31pass
statement vs summary · revenueconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenuenon_consolidated 2024-01-01/2024-12-31pass
statement vs summary · revenuenon_consolidated 2025-01-01/2025-12-31pass
statement vs summary · total assetsconsolidated 2024-12-31pass
statement vs summary · total assetsconsolidated 2025-12-31pass
statement vs summary · total assetsnon_consolidated 2024-12-31pass
statement vs summary · total assetsnon_consolidated 2025-12-31pass