Annual report

Period2024-10-01 → 2025-09-30
Filed2025-12-19
StandardJapan GAAP
ConsolidatedYes
Data checks24 of 24 passed
Key figures · 148
MetricValuePeriodScopeSource row
Revenue¥129.8bn2024-10-01 → 2025-09-30Cons.Net sales
Revenue¥107.8bn2023-10-01 → 2024-09-30Cons.Net sales
Revenue¥71.1bn2022-10-01 → 2023-09-30vCons.Net sales (5-year summary)
Revenue¥59.2bn2021-10-01 → 2022-09-30vCons.Net sales (5-year summary)
Revenue¥14.9bn2020-10-01 → 2021-09-30dCons.Net sales (5-year summary)
Operating income¥25.4bn2024-10-01 → 2025-09-30Cons.Operating income
Operating income¥28.6bn2023-10-01 → 2024-09-30Cons.Operating income
Ordinary income¥26.5bn2024-10-01 → 2025-09-30Cons.Ordinary income
Ordinary income¥28.9bn2023-10-01 → 2024-09-30Cons.Ordinary income
Ordinary income¥18.0bn2022-10-01 → 2023-09-30vCons.Ordinary income loss (5-year summary)
Ordinary income¥12.5bn2021-10-01 → 2022-09-30vCons.Ordinary income loss (5-year summary)
Ordinary income¥5.1bn2020-10-01 → 2021-09-30dCons.Ordinary income loss (5-year summary)
Profit before tax¥26.3bn2024-10-01 → 2025-09-30Cons.Income before income taxes
Profit before tax¥29.4bn2023-10-01 → 2024-09-30Cons.Income before income taxes
Net income (owners)¥18.2bn2024-10-01 → 2025-09-30Cons.Profit loss attributable to owners of parent
Net income (owners)¥20.5bn2023-10-01 → 2024-09-30Cons.Profit loss attributable to owners of parent
Net income (owners)¥12.5bn2022-10-01 → 2023-09-30vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥8.5bn2021-10-01 → 2022-09-30vCons.Profit loss attributable to owners of parent (5-year summary)
Net income (owners)¥2.9bn2020-10-01 → 2021-09-30dCons.Profit loss attributable to owners of parent (5-year summary)
Net income¥18.1bn2024-10-01 → 2025-09-30Cons.Profit loss
Net income¥20.5bn2023-10-01 → 2024-09-30Cons.Profit loss
Total assets¥126.9bnat 2025-09-30Cons.Assets
Total assets¥230.6bnat 2024-09-30Cons.Assets
Total assets¥183.7bnat 2023-09-30vCons.Total assets (5-year summary)
Total assets¥158.1bnat 2022-09-30vCons.Total assets (5-year summary)
Total assets¥91.9bnat 2021-09-30dCons.Total assets (5-year summary)
Total liabilities¥69.7bnat 2025-09-30Cons.Liabilities
Total liabilities¥177.3bnat 2024-09-30Cons.Liabilities
Net assets / equity¥57.2bnat 2025-09-30Cons.Net assets
Net assets / equity¥53.3bnat 2024-09-30Cons.Net assets
Net assets / equity¥44.3bnat 2023-09-30vCons.Net assets
Net assets / equity¥36.2bnat 2022-09-30vCons.Net assets (5-year summary)
Net assets / equity¥29.4bnat 2021-09-30dCons.Net assets (5-year summary)
Cash and deposits¥14.3bnat 2025-09-30Cons.Cash and deposits
Cash and deposits¥17.4bnat 2024-09-30Cons.Cash and deposits
Cash & equivalents¥14.3bnat 2025-09-30Cons.Cash and cash equivalents
Cash & equivalents¥16.0bnat 2024-09-30Cons.Cash and cash equivalents
Cash & equivalents¥14.6bnat 2023-09-30vCons.Cash and cash equivalents
Cash & equivalents¥11.7bnat 2022-09-30vCons.Cash and cash equivalents (5-year summary)
Cash & equivalents¥19.4bnat 2021-09-30dCons.Cash and cash equivalents (5-year summary)
Operating cash flow¥108.2bn2024-10-01 → 2025-09-30Cons.Net cash provided by used in operating activities
Operating cash flow−¥29.3bn2023-10-01 → 2024-09-30Cons.Net cash provided by used in operating activities
Operating cash flow¥4.8bn2022-10-01 → 2023-09-30vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow−¥50.9bn2021-10-01 → 2022-09-30vCons.Net cash provided by used in operating activities (5-year summary)
Operating cash flow¥26.7bn2020-10-01 → 2021-09-30dCons.Net cash provided by used in operating activities (5-year summary)
Investing cash flow¥806m2024-10-01 → 2025-09-30Cons.Net cash provided by used in investment activities
Investing cash flow¥6.6bn2023-10-01 → 2024-09-30Cons.Net cash provided by used in investment activities
Investing cash flow−¥9.4bn2022-10-01 → 2023-09-30vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥552m2021-10-01 → 2022-09-30vCons.Net cash provided by used in investing activities (5-year summary)
Investing cash flow−¥1.1bn2020-10-01 → 2021-09-30dCons.Net cash provided by used in investing activities (5-year summary)
Financing cash flow−¥110.9bn2024-10-01 → 2025-09-30Cons.Net cash provided by used in financing activities
Financing cash flow¥24.2bn2023-10-01 → 2024-09-30Cons.Net cash provided by used in financing activities
Financing cash flow¥7.3bn2022-10-01 → 2023-09-30vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow¥43.6bn2021-10-01 → 2022-09-30vCons.Net cash provided by used in financing activities (5-year summary)
Financing cash flow−¥31.9bn2020-10-01 → 2021-09-30dCons.Net cash provided by used in financing activities (5-year summary)
EPS (basic)¥216.182024-10-01 → 2025-09-30Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥240.072023-10-01 → 2024-09-30Cons.Basic earnings loss per share (5-year summary)
EPS (basic)¥145.972022-10-01 → 2023-09-30vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥99.242021-10-01 → 2022-09-30vCons.Basic earnings loss per share (5-year summary)
EPS (basic)¥34.512020-10-01 → 2021-09-30dCons.Basic earnings loss per share (5-year summary)
Net assets per share¥681.46at 2025-09-30Cons.Net assets per share (5-year summary)
Net assets per share¥629.36at 2024-09-30Cons.Net assets per share (5-year summary)
Net assets per share¥517.45at 2023-09-30vCons.Net assets per share (5-year summary)
Net assets per share¥422.35at 2022-09-30vCons.Net assets per share (5-year summary)
Net assets per share¥342.39at 2021-09-30dCons.Net assets per share (5-year summary)
Equity ratio45.0%at 2025-09-30Cons.Equity to asset ratio (5-year summary)
Equity ratio23.1%at 2024-09-30Cons.Equity to asset ratio (5-year summary)
Equity ratio24.1%at 2023-09-30vCons.Equity to asset ratio (5-year summary)
Equity ratio22.8%at 2022-09-30vCons.Equity to asset ratio (5-year summary)
Equity ratio31.8%at 2021-09-30dCons.Equity to asset ratio (5-year summary)
ROE32.9%2024-10-01 → 2025-09-30Cons.Rate of return on equity (5-year summary)
ROE42.0%2023-10-01 → 2024-09-30Cons.Rate of return on equity (5-year summary)
ROE31.1%2022-10-01 → 2023-09-30vCons.Rate of return on equity (5-year summary)
ROE26.0%2021-10-01 → 2022-09-30vCons.Rate of return on equity (5-year summary)
ROE10.4%2020-10-01 → 2021-09-30dCons.Rate of return on equity (5-year summary)
Employees383at 2025-09-30Cons.Number of employees
Employees355at 2024-09-30Cons.Number of employees
Employees307at 2023-09-30vCons.Number of employees
Employees337at 2022-09-30vCons.Number of employees
Employees336at 2021-09-30dCons.Number of employees
Revenue¥125.1bn2024-10-01 → 2025-09-30StandaloneNet sales
Revenue¥105.2bn2023-10-01 → 2024-09-30StandaloneNet sales
Revenue¥68.5bn2022-10-01 → 2023-09-30vStandaloneNet sales (5-year summary)
Revenue¥57.3bn2021-10-01 → 2022-09-30vStandaloneNet sales (5-year summary)
Revenue¥13.0bn2020-10-01 → 2021-09-30dStandaloneNet sales (5-year summary)
Operating income¥25.9bn2024-10-01 → 2025-09-30StandaloneOperating income
Operating income¥28.8bn2023-10-01 → 2024-09-30StandaloneOperating income
Ordinary income¥26.9bn2024-10-01 → 2025-09-30StandaloneOrdinary income
Ordinary income¥29.4bn2023-10-01 → 2024-09-30StandaloneOrdinary income
Ordinary income¥18.0bn2022-10-01 → 2023-09-30vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥12.8bn2021-10-01 → 2022-09-30vStandaloneOrdinary income loss (5-year summary)
Ordinary income¥5.5bn2020-10-01 → 2021-09-30dStandaloneOrdinary income loss (5-year summary)
Profit before tax¥25.3bn2024-10-01 → 2025-09-30StandaloneIncome before income taxes
Profit before tax¥29.1bn2023-10-01 → 2024-09-30StandaloneIncome before income taxes
Net income¥18.3bn2024-10-01 → 2025-09-30StandaloneProfit loss
Net income¥20.3bn2023-10-01 → 2024-09-30StandaloneProfit loss
Net income¥12.2bn2022-10-01 → 2023-09-30vStandaloneNet income loss (5-year summary)
Net income¥9.0bn2021-10-01 → 2022-09-30vStandaloneNet income loss (5-year summary)
Net income¥3.6bn2020-10-01 → 2021-09-30dStandaloneNet income loss (5-year summary)
Total assets¥150.3bnat 2025-09-30StandaloneAssets
Total assets¥235.7bnat 2024-09-30StandaloneAssets
Total assets¥190.3bnat 2023-09-30vStandaloneTotal assets (5-year summary)
Total assets¥168.3bnat 2022-09-30vStandaloneTotal assets (5-year summary)
Total assets¥91.2bnat 2021-09-30dStandaloneTotal assets (5-year summary)
Total liabilities¥92.2bnat 2025-09-30StandaloneLiabilities
Total liabilities¥181.4bnat 2024-09-30StandaloneLiabilities
Net assets / equity¥58.2bnat 2025-09-30StandaloneNet assets
Net assets / equity¥54.2bnat 2024-09-30StandaloneNet assets
Net assets / equity¥45.3bnat 2023-09-30vStandaloneNet assets
Net assets / equity¥37.4bnat 2022-09-30vStandaloneNet assets (5-year summary)
Net assets / equity¥30.0bnat 2021-09-30dStandaloneNet assets (5-year summary)
Cash and deposits¥11.0bnat 2025-09-30StandaloneCash and deposits
Cash and deposits¥13.4bnat 2024-09-30StandaloneCash and deposits
EPS (basic)¥217.952024-10-01 → 2025-09-30StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥238.792023-10-01 → 2024-09-30StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥142.722022-10-01 → 2023-09-30vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥105.252021-10-01 → 2022-09-30vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥42.192020-10-01 → 2021-09-30dStandaloneBasic earnings loss per share (5-year summary)
Dividend per share¥130.42024-10-01 → 2025-09-30StandaloneDividend paid per share (5-year summary)
Dividend per share¥120.32023-10-01 → 2024-09-30StandaloneDividend paid per share (5-year summary)
Dividend per share¥732022-10-01 → 2023-09-30vStandaloneDividend paid per share (5-year summary)
Dividend per share¥502021-10-01 → 2022-09-30vStandaloneDividend paid per share (5-year summary)
Dividend per share¥18.52020-10-01 → 2021-09-30dStandaloneDividend paid per share (5-year summary)
Net assets per share¥694.64at 2025-09-30StandaloneNet assets per share (5-year summary)
Net assets per share¥641.56at 2024-09-30StandaloneNet assets per share (5-year summary)
Net assets per share¥530.81at 2023-09-30vStandaloneNet assets per share (5-year summary)
Net assets per share¥438.07at 2022-09-30vStandaloneNet assets per share (5-year summary)
Net assets per share¥351.39at 2021-09-30dStandaloneNet assets per share (5-year summary)
Equity ratio38.7%at 2025-09-30StandaloneEquity to asset ratio (5-year summary)
Equity ratio23.0%at 2024-09-30StandaloneEquity to asset ratio (5-year summary)
Equity ratio23.8%at 2023-09-30vStandaloneEquity to asset ratio (5-year summary)
Equity ratio22.2%at 2022-09-30vStandaloneEquity to asset ratio (5-year summary)
Equity ratio32.9%at 2021-09-30dStandaloneEquity to asset ratio (5-year summary)
ROE32.6%2024-10-01 → 2025-09-30StandaloneRate of return on equity (5-year summary)
ROE40.9%2023-10-01 → 2024-09-30StandaloneRate of return on equity (5-year summary)
ROE29.5%2022-10-01 → 2023-09-30vStandaloneRate of return on equity (5-year summary)
ROE26.7%2021-10-01 → 2022-09-30vStandaloneRate of return on equity (5-year summary)
ROE12.6%2020-10-01 → 2021-09-30dStandaloneRate of return on equity (5-year summary)
Shares issued83,803,600at 2025-09-30StandaloneTotal number of issued shares (5-year summary)
Shares issued85,403,600at 2024-09-30StandaloneTotal number of issued shares (5-year summary)
Shares issued89,073,600at 2023-09-30vStandaloneTotal number of issued shares (5-year summary)
Shares issued89,073,600at 2022-09-30vStandaloneTotal number of issued shares (5-year summary)
Shares issued89,073,600at 2021-09-30dStandaloneTotal number of issued shares (5-year summary)
Employees309at 2025-09-30StandaloneNumber of employees
Employees287at 2024-09-30StandaloneNumber of employees
Employees248at 2023-09-30vStandaloneNumber of employees
Employees241at 2022-09-30vStandaloneNumber of employees
Employees234at 2021-09-30dStandaloneNumber 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 · 20
SegmentItemPeriodValue
Operating Segments Not Included In Reportable Segments And Other Revenue Generating Business Activitiesother segmentsrevenue2024-10-01 → 2025-09-30¥417m
Operating Segments Not Included In Reportable Segments And Other Revenue Generating Business Activitiesother segmentsrevenue external2024-10-01 → 2025-09-30¥417m
Domestic Real Estate Fund Businessreportable segmentrevenue2024-10-01 → 2025-09-30¥96.0bn
Domestic Real Estate Fund Businessreportable segmentrevenue external2024-10-01 → 2025-09-30¥96.0bn
International Real Estate Fund Businessreportable segmentrevenue2024-10-01 → 2025-09-30¥3.5bn
International Real Estate Fund Businessreportable segmentrevenue external2024-10-01 → 2025-09-30¥3.5bn
Leasing Fund Businessreportable segmentrevenue2024-10-01 → 2025-09-30¥29.8bn
Leasing Fund Businessreportable segmentrevenue external2024-10-01 → 2025-09-30¥29.8bn
—segment totalrevenue2024-10-01 → 2025-09-30¥129.3bn
—segment totalrevenue external2024-10-01 → 2025-09-30¥129.3bn
Operating Segments Not Included In Reportable Segments And Other Revenue Generating Business Activitiesother segmentsrevenue2023-10-01 → 2024-09-30¥678m
Operating Segments Not Included In Reportable Segments And Other Revenue Generating Business Activitiesother segmentsrevenue external2023-10-01 → 2024-09-30¥678m
Domestic Real Estate Fund Businessreportable segmentrevenue2023-10-01 → 2024-09-30¥75.1bn
Domestic Real Estate Fund Businessreportable segmentrevenue external2023-10-01 → 2024-09-30¥75.1bn
International Real Estate Fund Businessreportable segmentrevenue2023-10-01 → 2024-09-30¥2.7bn
International Real Estate Fund Businessreportable segmentrevenue external2023-10-01 → 2024-09-30¥2.7bn
Leasing Fund Businessreportable segmentrevenue2023-10-01 → 2024-09-30¥29.3bn
Leasing Fund Businessreportable segmentrevenue external2023-10-01 → 2024-09-30¥29.3bn
—segment totalrevenue2023-10-01 → 2024-09-30¥107.1bn
—segment totalrevenue external2023-10-01 → 2024-09-30¥107.1bn

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

All source rows · 1,556
ItemContextValueUnit
Footnotes directors and corporate auditors proposal (text)FilingDateInstant_Row5MemberText · Plus
Outside directors and outside corporate auditors (text)FilingDateInstantText · Plus
Audits (text)FilingDateInstantText · Plus
Remuneration for directors and other officers (text)FilingDateInstantText · Plus
Remuneration etc paid by group to each director or other officer (text)FilingDateInstantText · Plus
Shareholdings (text)FilingDateInstantText · Plus
Regulations in accordance with which consolidated financial statements have been prepared financial informationCurrentYearDurationText · Plus
Regulations in accordance with which financial statements have been prepared financial informationCurrentYearDurationText · Plus
Description of fact that financial statements have been prepared in accordance with special provision financial informationCurrentYearDuration
Original text (Japanese) また、当社は、特例財務諸表提出会社に該当し、財務諸表等規則第127条の規定により財務諸表を作成しております。
Note on independent audit financial informationCurrentYearDurationText · Plus
Remarkable efforts to ensure fair presentation of consolidated financial statements etc financial informationCurrentYearDurationText · Plus
Consolidated balance sheet (text)CurrentYearDurationText · Plus
Consolidated statement of income (text)CurrentYearDurationText · Plus
Consolidated statement of comprehensive income (text)CurrentYearDurationText · Plus
Consolidated statement of changes in equity (text)CurrentYearDurationText · Plus
Consolidated statement of cash flows (text)CurrentYearDurationText · Plus
Notes significant accounting policies for preparation of consolidated financial statements (text)CurrentYearDurationText · Plus
Number of consolidated subsidiaries and names of major consolidated subsidiaries (text)CurrentYearDurationText · Plus
Changes in scope of consolidation (text)CurrentYearDurationText · Plus
Names of major unconsolidated subsidiaries and reasons for exclusion from scope of consolidation (text)CurrentYearDurationText · Plus
Summary of special purpose entities subject to disclosure overview and amounts of transactions with such entities and other relevant material information (text)CurrentYearDurationText · Plus
Number of unconsolidated subsidiaries and associates accounted for using equity method and names of major entities accounted for using equity method (text)CurrentYearDurationText · Plus
Names of major unconsolidated subsidiaries and associates and reasons for not being accounted for using equity method (text)CurrentYearDurationText · Plus
Disclosure about fiscal years etc of consolidated subsidiaries and associates accounted for using equity method (text)CurrentYearDurationText · Plus
Disclosure of accounting policies (text)CurrentYearDurationText · Plus
Significant accounting estimates consolidated financial statements (text)CurrentYearDurationText · Plus
Notes changes in accounting policies in accordance with changes in accounting standards etc consolidated financial statements (text)CurrentYearDurationText · Plus
Notes new accounting standards not yet applied consolidated financial statements (text)CurrentYearDurationText · Plus
Notes regarding accumulated depreciation of property plant and equipment (text)CurrentYearInstantText · Plus
Notes regarding shares and bonds etc of unconsolidated subsidiaries and associates (text)CurrentYearInstantText · Plus
Notes regarding pledged assets (text)CurrentYearInstantText · Plus
Debtors notes regarding overdraft contracts and or loan commitments (text)CurrentYearInstantText · Plus
Creditors notes regarding overdraft contracts and or loan commitments (text)CurrentYearInstantText · Plus
Notes regarding financial covenant clauses (text)CurrentYearInstantText · Plus
Notes regarding amount of revenue from contracts with customers (text)CurrentYearDurationText · Plus
Major components of selling general and administrative expenses (text)CurrentYearDurationText · Plus
Notes regarding gain on sales of property plant and equipment (text)CurrentYearDurationText · Plus
Notes regarding profit on business transfer (text)CurrentYearDurationText · Plus
Gain on termination of businessCurrentYearDurationText · Plus
Notes regarding loss on disposal of property plant and equipment (text)CurrentYearDurationText · Plus
Notes regarding impairment loss (text)CurrentYearDurationText · Plus
Notes regarding reclassification adjustments income taxes and tax effects relating to other comprehensive income (text)CurrentYearDurationText · Plus
Notes regarding issued shares and treasury shares (text)Prior1YearDurationText · Plus
Notes regarding new share subscription rights etc (text)Prior1YearDurationText · Plus
Notes regarding dividend (text)Prior1YearDurationText · Plus
Notes regarding issued shares and treasury shares (text)CurrentYearDurationText · Plus
Notes regarding new share subscription rights etc (text)CurrentYearDurationText · Plus
Notes regarding dividend (text)CurrentYearDurationText · Plus
Reconciliation of ending balance of cash and cash equivalents with account balances per balance sheet (text)CurrentYearDurationText · Plus
Notes leases consolidated financial statements (text)CurrentYearDurationText · Plus

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 2024-09-30pass
balance sheet identityconsolidated 2025-09-30pass
balance sheet identitynon_consolidated 2024-09-30pass
balance sheet identitynon_consolidated 2025-09-30pass
dei present pass
period resolution pass
statement vs summary · net assetsconsolidated 2023-09-30pass
statement vs summary · net assetsconsolidated 2024-09-30pass
statement vs summary · net assetsconsolidated 2025-09-30pass
statement vs summary · net assetsnon_consolidated 2023-09-30pass
statement vs summary · net assetsnon_consolidated 2024-09-30pass
statement vs summary · net assetsnon_consolidated 2025-09-30pass
statement vs summary · net income attributable to parentconsolidated 2023-10-01/2024-09-30pass
statement vs summary · net income attributable to parentconsolidated 2024-10-01/2025-09-30pass
statement vs summary · operating cash flowconsolidated 2023-10-01/2024-09-30pass
statement vs summary · operating cash flowconsolidated 2024-10-01/2025-09-30pass
statement vs summary · revenueconsolidated 2023-10-01/2024-09-30pass
statement vs summary · revenueconsolidated 2024-10-01/2025-09-30pass
statement vs summary · revenuenon_consolidated 2023-10-01/2024-09-30pass
statement vs summary · revenuenon_consolidated 2024-10-01/2025-09-30pass
statement vs summary · total assetsconsolidated 2024-09-30pass
statement vs summary · total assetsconsolidated 2025-09-30pass
statement vs summary · total assetsnon_consolidated 2024-09-30pass
statement vs summary · total assetsnon_consolidated 2025-09-30pass