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Hulic

Hulic Co.,Ltd.

Company highlights

The largest segment by revenue is Real estate business, at 91.6% of the total.

Key figures

Period Jan 2025 to Dec 2025ConsolidatedJapanese GAAP

RevenueDisclosed ¥727.4B
Operating marginCalculated 25.7%
Net assets to total assetsCalculated 26.8%

Company profile

Securities code 3003 / EDINET code E00523 / Real Estate / Fiscal year end December 31

中央区日本橋大伝馬町7番3号/Capital stock ¥111,609 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Official website: https://www.hulic.co.jp/
Official website: gBizINFO (Ministry of Economy, Trade and Industry).

Company details
前田 隆也 Representative
52 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Jan 2025 to Dec 2025) · filed 2026-03-17

Profitability ★★★★★position among all companies 25.7%
Growth (revenue, 4-year average) ★★★★☆position among all companies 12.9%
Capital efficiency ★★★★☆position among all companies 13.0%

Business activities and revenue composition

Hulic

Revenue and profit by business segment

Period Jan 2025 to Dec 2025Source Annual securities reportsConsolidated・Disclosed

SalesProfit Real estate…Real estate business Sales 91.6% 92% Profit 98.6% 99% ホテル・旅館事業ホテル・旅館事業 Sales 7.9% 8% Profit 0.8% 1% InsuranceInsurance Sales 0.6% 1% Profit 0.5% 1%
BusinessNet sales to external customers Operating income
This yearShareLast year This yearShareMarginLast year
Real estate business ¥628.0 billion 91.6% ¥517.3 billion ¥198.1 billion 98.6% 31.5% ¥170.4 billion
ホテル・旅館事業 ¥53.9 billion 7.9% ¥48.8 billion ¥1.7 billion 0.8% 3.1% ¥1.7 billion
Insurance ¥3.9 billion 0.6% ¥3.7 billion ¥1.1 billion 0.5% 27.7% ¥1.0 billion
Total of the businesses ¥685.8 billion100.0% ¥200.9 billion 100.0%

Revenue and profit

Hulic

Period Jan 2025 to Dec 2025Source Annual securities reports

Net sales and operating revenue ¥727.4B 100% Cost of sales ¥450.6B 62% Selling, general and administrative expenses ¥90.0B 12% Operating income ¥186.8B 26%
Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Business consignment expenses ¥15.2 billion Consolidated
Salaries and allowances ¥13.8 billion Consolidated
Commission fees ¥10.3 billion Consolidated
Amortization of goodwill ¥7.0 billion Consolidated
Taxes and dues ¥6.0 billion Consolidated
Bonuses ¥2.1 billion Parent only
Provision for bonuses ¥1.3 billion Consolidated
Provision for dividend ¥1.2 billion Consolidated
Depreciation ¥0.7 billion Parent only
Retirement benefit expenses ¥0.7 billion Consolidated
Provision for directors' bonuses ¥0.5 billion Consolidated
Provision of allowance for doubtful accounts ¥8.00 million Consolidated
Profit by stage Operating income ¥186.8 billion Consolidated
Ordinary income ¥172.9 billion Consolidated
Net income ¥114.3 billion Consolidated

Hulic

Selling, general and administrative expenses

Period Jan 2025 to Dec 2025Source Annual securities reports

Business consignment expenses ¥15.2 billion (16.9%)17%Salaries and allowances ¥13.8 billion (15.4%)15%Commission fees ¥10.3 billion (11.5%)11%Amortization of goodwill ¥7.0 billion (7.8%)8%Taxes and dues ¥6.0 billion (6.6%)7%Bonuses ¥2.1 billion (2.4%)Other (not itemized) ¥35.5 billion (39.4%)39%¥90.0B
  • Business consignment expenses ¥15.2 billion
  • Salaries and allowances ¥13.8 billion
  • Commission fees ¥10.3 billion
  • Amortization of goodwill ¥7.0 billion
  • Taxes and dues ¥6.0 billion
  • Bonuses ¥2.1 billion
  • Other (not itemized) ¥35.5 billion

Performance, financial position and capital allocation

Finance
26.8% Net assets to total assets Industry median 33.5% FY ending 12/2025 · consolidated / calculated
3.3% Return on assets (ROA)
¥1,202.76 Net assets per share
¥-275.3 billion Free cash flow
¥3,506.1 billion Total assets
¥126.2 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
144.0% Cash conversion Industry median 36.4% FY ending 12/2025 · consolidated / calculated
-22.2% Increase in working capital ★☆☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
2140.6% Property, plant and equipment purchases relative to depreciation ★★★★★ position among all companies FY ending 12/2025 · consolidated / calculated
17.2% Return to shareholders ★★☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
-0.9% Extraordinary gains and losses relative to ordinary profit ★★★☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
53.2% Investment securities to net assets ★★★★★ position among all companies FY ending 12/2025 · consolidated / calculated

Long-term changes in performance

Period 2012 to 2025Disclosed

Revenue ×7.71 from 2012 to 2025

Hulic

Long-term revenue, profit and asset trends

Period 2012 to 2025Source Annual securities reportsDisclosed

Mark on the chart
727 485 242 0 2012 2014 2016 2018 2020 2022 2024 2025 Net sales and operating revenue Ordinary income 2013 Ordinary income (loss) as a share of revenue +2.7 points 2014 Operating revenue year on year +96.2%, Ordinary income (loss) as a share of revenue -7.8 points 2015 Operating revenue year on year -20.1%, Ordinary income (loss) as a share of revenue +8.9 points 2016 Operating revenue year on year +27.0% 2017 Operating revenue year on year +34.2%, Ordinary income (loss) as a share of revenue -2.5 points 2018 Ordinary income (loss) as a share of revenue +3.9 points 2019 Operating revenue year on year +24.3% 2020 Ordinary income (loss) as a share of revenue +4.5 points 2021 Operating revenue year on year +31.6%, Ordinary income (loss) as a share of revenue -3.6 points 2023 Ordinary income (loss) as a share of revenue +7.2 points 2024 Operating revenue year on year +32.5%, Ordinary income (loss) as a share of revenue -4.7 points 2025 Operating revenue year on year +23.0%, Ordinary income (loss) as a share of revenue -2.3 points 727Latest value 2025 727¥ billion 727Highest in the period shown 2025 727¥ billion 94Lowest in the period shown 2012 94¥ billion ¥ billion

Hulic

Recent performance trends

Source Annual securities reports

727 485 242 0 4 years ago 3 years ago 2 years ago Last year This year Net sales and operating revenue Ordinary income ¥ billion

Year-on-year comparison

Period 2012 to 2025Disclosed

Item20212022202320242025
Operating revenue ¥447.1B ¥523.4B ¥446.4B ¥591.6B ¥727.4B
Year on year (%) +31.6%◆ +17.1% -14.7% +32.5%◆ +23.0%◆
Ordinary income (loss) ¥109.6B ¥123.2B ¥137.4B ¥154.3B ¥172.9B
Change from prior year +14.6% +12.4% +11.5% +12.3% +12.1%
Ordinary income (loss) as a share of Operating revenue 24.5% 23.5% 30.8% 26.1% 23.8%
Change (percentage points) -3.6 points◆ -1.0 points +7.2 points◆ -4.7 points◆ -2.3 points◆

Fiscal periods marked for changes

Earlier fiscal periods (9)
  • 2013Ordinary income (loss) as a share of revenue +2.7 points
  • 2014Operating revenue year on year +96.2%, Ordinary income (loss) as a share of revenue -7.8 points
  • 2015Operating revenue year on year -20.1%, Ordinary income (loss) as a share of revenue +8.9 points
  • 2016Operating revenue year on year +27.0%
  • 2017Operating revenue year on year +34.2%, Ordinary income (loss) as a share of revenue -2.5 points
  • 2018Ordinary income (loss) as a share of revenue +3.9 points
  • 2019Operating revenue year on year +24.3%
  • 2020Ordinary income (loss) as a share of revenue +4.5 points
  • 2021Operating revenue year on year +31.6%, Ordinary income (loss) as a share of revenue -3.6 points
  • 2023Ordinary income (loss) as a share of revenue +7.2 points
  • 2024Operating revenue year on year +32.5%, Ordinary income (loss) as a share of revenue -4.7 points
  • 2025Operating revenue year on year +23.0%, Ordinary income (loss) as a share of revenue -2.3 points

Hulic

Earnings and net assets per share over time

Unit yenSource Annual securities reports

150 100 50 0 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 1,203 802 401 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

Hulic

Return on equity over time

Unit %Source Annual securities reports

13 9 4 0 4 years ago 3 years ago 2 years ago Last year This year Return on equity (ROE, %)
Consolidated indicators (15 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Operating revenue ¥447.1 billion ¥523.4 billion ¥446.4 billion ¥591.6 billion ¥727.4 billion
Ordinary income (loss) ¥109.6 billion ¥123.2 billion ¥137.4 billion ¥154.3 billion ¥172.9 billion
Net income (loss) attributable to owners of parent ¥69.6 billion ¥79.2 billion ¥94.6 billion ¥102.3 billion ¥114.3 billion
Comprehensive income ¥79.5 billion ¥80.9 billion ¥113.3 billion ¥108.2 billion ¥135.3 billion
Net assets ¥638.3 billion ¥687.2 billion ¥769.3 billion ¥856.3 billion ¥939.2 billion
Total assets ¥2,207.3 billion ¥2,320.3 billion ¥2,480.5 billion ¥3,048.9 billion ¥3,506.1 billion
Net assets per share 836.89 yen 902.7 yen 1,006.19 yen 1,093.78 yen 1,202.76 yen
Basic earnings (loss) per share 101.09 yen 104 yen 124.36 yen 134.42 yen 150.5 yen
Diluted earnings per share Could not be retrieved 103.96 yen 124.32 yen 134.42 yen 150.5 yen
Equity-to-asset ratio 28.8% 29.5% 30.8% 27.3% 26.0%
Return on equity 12.3% 11.9% 13.0% 12.8% 13.0%
Net cash provided by (used in) operating activities ¥291.7 billion ¥266.1 billion ¥270.8 billion ¥353.4 billion ¥269.2 billion
Net cash provided by (used in) investing activities ¥-286.9 billion ¥-345.3 billion ¥-298.3 billion ¥-602.0 billion ¥-544.5 billion
Net cash provided by (used in) financing activities ¥106.6 billion ¥11.4 billion ¥-28.0 billion ¥300.6 billion ¥272.3 billion
Cash and cash equivalents ¥206.1 billion ¥138.3 billion ¥82.8 billion ¥134.3 billion ¥130.7 billion
Parent only indicators (14 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Operating revenue ¥399.5 billion ¥484.6 billion ¥396.5 billion ¥513.5 billion ¥459.9 billion
Ordinary income (loss) ¥111.0 billion ¥113.7 billion ¥133.5 billion ¥150.6 billion ¥155.0 billion
Net income (loss) ¥76.2 billion ¥78.4 billion ¥91.6 billion ¥104.6 billion ¥107.6 billion
Capital stock ¥111.6 billion ¥111.6 billion ¥111.6 billion ¥111.6 billion ¥111.6 billion
Total number of issued shares (common stock) 767,907,735 shares 767,907,735 shares 767,907,735 shares 767,907,735 shares 767,907,735 shares
Net assets ¥617.9 billion ¥666.8 billion ¥742.5 billion ¥813.4 billion ¥893.8 billion
Total assets ¥2,147.5 billion ¥2,261.5 billion ¥2,395.5 billion ¥2,834.7 billion ¥3,267.4 billion
Net assets per share 808.17 yen 873.8 yen 972.66 yen 1,064.73 yen 1,173.46 yen
Dividend per share 39 yen 42 yen 50 yen 54 yen 62 yen
Interim dividend per share 19 yen 20 yen 23 yen 26 yen 28.5 yen
Basic earnings (loss) per share 110.39 yen 102.68 yen 120 yen 136.91 yen 141.24 yen
Equity-to-asset ratio 28.7% 29.4% 30.9% 28.6% 27.3%
Return on equity 13.9% 12.2% 12.9% 13.4% 12.6%
Payout ratio 35.3% 40.9% 41.6% 39.4% 43.8%

Dividend history

Source: reporting company’s key figures, annual securities reports · 14 years (2012 to 2025)Parent-onlyDisclosed

13 periods Consecutive increases (own definition) through FY ending 12/2025
14 periods Consecutive periods with dividends (site definition) through FY ending 12/2025
+14.8% Dividend growth (year on year)
+11.5% Dividend growth (5-year annual rate)
Fiscal yearAnnual dividend per share Of which interimPayout ratio (as reported, parent only) Flag
FY ending 12/2025 ¥62 ¥28.5 43.8%
FY ending 12/2024 ¥54 ¥26 39.4%
FY ending 12/2023 ¥50 ¥23 41.6%
FY ending 12/2022 ¥42 ¥20 40.9%
FY ending 12/2021 ¥39 ¥19 35.3%
FY ending 12/2020 ¥36 ¥17.5 30.4%
FY ending 12/2019 ¥31.5 ¥14 36.1%
FY ending 12/2018 ¥25.5 ¥11.5 33.0%
FY ending 12/2017 ¥21 ¥9 34.6%
FY ending 12/2016 ¥17 ¥8 42.7%
FY ending 12/2015 ¥15.5 ¥5.5 37.7%
FY ending 12/2014 ¥10.5 ¥3.5 32.5%
FY ending 12/2013 ¥6.5 ¥2.5 36.7%
FY ending 12/2012 ¥2.5 Could not be retrieved 20.5%

Hulic

Dividends per share over time

Unit yenSource Annual securities reports

62 41 21 0 4 years ago 3 years ago 2 years ago Last year This year Dividend per share yen

Shareholder composition

As of 2025-12-31Disclosed

Share ownership by holder category

277,933 Shareholders
18.95% Foreign holders (total) Industry median 3.47%
15.16% Individuals and others Industry median 48.70%

Hulic

Unit %Source Annual securities reports

  • Financial institutions27.60%
  • Securities firms4.47%
  • Other corporations33.82%
  • Foreign holders (institutions)18.92%
  • Foreign holders (individuals)0.03%
  • Individuals and others15.16%

Major shareholders

RankShareholderShareholding ratioShares held
1 日本マスタートラスト信託銀行㈱(信託口) 10.85% 83,246,500
2 明治安田生命保険(相) 6.21% 47,617,077
3 芙蓉総合リース㈱ 5.3% 40,695,306
4 安田不動産㈱ 4.01% 30,789,331
5 ㈱日本カストディ銀行(信託口) 3.74% 28,718,300
6 安田倉庫㈱ 3.7% 28,431,800
7 沖電気工業㈱ 3.34% 25,631,000
8 みずほキャピタル㈱ 3.33% 25,533,900
9 東京建物㈱ 2.65% 20,374,433
10 帝国繊維㈱ 2.21% 17,006,292

Research and development expenses and capital expenditure

Source: R&D and capital expenditure sections, annual securities reports · 2 years (2020 to 2025)Disclosed

Not disclosed Research and development
¥451.9 billion Capital expenditure 62.1% of revenue (industry median 2.2%)
Fiscal year Capital expenditure
FY ending 12/2025 ¥451.9 billion
FY ending 12/2020 ¥327.1 billion

Revenue scale in the same industry

Hulic

Source Annual securities reports of each company

Real Estate: 147 companies · revenue · largest first・each company’s latest fiscal year・Consolidated・Disclosed

Workforce information

Source: Annual Securities Report (Jan 2025 to Dec 2025)Parent-onlyDisclosed

234 Employees (parent only) Industry median 102
39.0 Average age Industry median 39.2
7.0 years Average length of service Industry median 6.3 years
¥22.95 million Average annual salary Industry median ¥7.07 million
People and organisation
208.1¥ million Sales per employee Industry median 122.0¥ million FY ending 12/2025 · consolidated / calculated
¥53.46 million Operating income per employee
63.1% Wage gap between men and women
21.5% Women in managerial positions
40.0% Share of female employees
100.0% Men taking childcare leave
Men 7.3 yrs
Women 8.1 yrs
Average length of service by gender
26 / 121 Female managers
5 / 15 Female officers
9,669 Average temporary staff

Administrative filings and published information

Workplace information filings

Filed 2026-04-23Disclosed

ItemValue
Employees 234
Average monthly overtime (statutory overtime plus work on statutory days off)
Scope: 正社員
29.9 hours
Annual paid leave taken (all employees) 81.2%
Childcare leave taken, men
Scope: 正社員
100%
Childcare leave taken, women
Scope: 正社員
100%
Share of managers who are women 21.5%
Share of board members who are women 33.3%

Greenhouse gas emissions

Reported to the government for fiscal 2023Disclosed

CategoryEmissions
特定事業所排出者70,783 t-CO2
Sites covered by the report3

Audit and disclosure information

Annual securities report, year ended 2025-12-31Disclosed

ItemValue
Audit firm EY新日本有限責任監査法人
Audit fees (this year, total) ¥0.2 billion
Non-audit fees (this year, total) ¥6.00 million
Audit fees (this year, network firms) ¥7.00 million
Going concern note Cannot be determined
Accounting standard Japanese GAAP

See the book series →

Sources and methodology

Retrieved disclosed figures

Accounts and values from the annual securities report, by section

Major management indicators (5 years) (29 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥135.3 billion Consolidated
Operating revenue ¥727.4 billion Consolidated
Net cash provided by (used in) operating activities ¥269.2 billion Consolidated
Net cash provided by (used in) investing activities ¥-544.5 billion Consolidated
Diluted earnings per share 150.5 yen Consolidated
Cash and cash equivalents ¥130.7 billion Consolidated
Net assets ¥939.2 billion Consolidated
Ordinary income (loss) ¥172.9 billion Consolidated
Total assets ¥3,506.1 billion Consolidated
Return on equity 13.0% Consolidated
Equity-to-asset ratio 26.0% Consolidated
Net income (loss) attributable to owners of parent ¥114.3 billion Consolidated
Net cash provided by (used in) financing activities ¥272.3 billion Consolidated
Basic earnings (loss) per share 150.5 yen Consolidated
Net assets per share 1,202.76 yen Consolidated
Dividend per share 62 yen Parent only
Operating revenue ¥459.9 billion Parent only
Net income (loss) ¥107.6 billion Parent only
Total number of issued shares (common stock) 767,907,735 shares Parent only
Net assets ¥893.8 billion Parent only
Ordinary income (loss) ¥155.0 billion Parent only
Total assets ¥3,267.4 billion Parent only
Return on equity 12.6% Parent only
Equity-to-asset ratio 27.3% Parent only
Capital stock ¥111.6 billion Parent only
Payout ratio 43.8% Parent only
Interim dividend per share 28.5 yen Parent only
Basic earnings (loss) per share 141.24 yen Parent only
Net assets per share 1,173.46 yen Parent only

Employees (13 items)

ItemValueConsolidated / Non-consolidated
Number of employees 3,495 people Consolidated
Number of employees 3,495 people Consolidated
Wage gap between men and women (all employees) 63.1% Parent only
Average length of service (years) 7 years Parent only
Average length of service months 6 months Parent only
Average annual salary ¥22.95 million Parent only
Average age (years) 39 years old Parent only
Average age months 9 months Parent only
Number of employees 234 people Parent only
Number of employees 234 people Parent only
Number of employees 234 people Parent only
Wage gap between men and women (regular employees) 63.7% Parent only
Wage gap between men and women (non-regular employees) 51.3% Parent only

Other disclosed items (14 items)

ItemValueConsolidated / Non-consolidated
Net sales to external customers ¥727.4 billion Consolidated
Average number of temporary employees 9,669 people Consolidated
Average number of temporary employees 9,669 people Consolidated
Number of unconsolidated subsidiaries and associates accounted for using equity method 36 companies Consolidated
Investments accounted for using equity method ¥265.2 billion Consolidated
Increase in property plant and equipment and intangible assets ¥451.9 billion Consolidated
Depreciation ¥19.9 billion Consolidated
Number of consolidated subsidiaries 52 companies Consolidated
Rate of male employees taking childcare leave (all employees) 100.0% Parent only
Average number of temporary employees 54 people Parent only
Average number of temporary employees 54 people Parent only
Average number of temporary employees 54 people Parent only
Total return on the share price index 213.1% Parent only
Ratio of female employees in managerial positions 21.5% Parent only

Shares (20 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 348,043,939 shares Consolidated
Total number of shares held treasury shares etc 3,249,200 shares Consolidated
Number of issues whose number of shares increased shares other than those not listed investment shares held for purposes other than pure investment reporting company 1 issues Consolidated
Number of issues whose number of shares decreased shares not listed investment shares held for purposes other than pure investment reporting company 1 issues Consolidated
Number of issues whose number of shares decreased shares other than those not listed investment shares held for purposes other than pure investment reporting company 3 issues Consolidated
Total acquisition cost for increased shares shares other than those not listed investment shares held for purposes other than pure investment reporting company ¥1.1 billion Consolidated
Total sale amount for decreased shares shares not listed investment shares held for purposes other than pure investment reporting company ¥0.2 billion Consolidated
Total sale amount for decreased shares shares other than those not listed investment shares held for purposes other than pure investment reporting company ¥4.3 billion Consolidated
Number of shares 767,907,735 shares Consolidated
Shareholding ratio treasury shares etc 0.4% Consolidated
Shareholding ratio 45.3% Consolidated
Number of shares held in own name treasury shares etc 3,249,200 shares Consolidated
Number of voting rights 7,633,167 units Consolidated
Carrying amount on the balance sheet ¥16.8 billion Consolidated
Carrying amount on the balance sheet ¥138.4 billion Consolidated
Book value equity securities other than those not listed investment equity securities held for pure investment reporting company ¥18.2 billion Consolidated
Number of issues 33 issues Consolidated
Number of issues 1 issues Consolidated
Number of issues 39 issues Consolidated
Total shareholder return 173.1% Parent only

Accounts unique to this company (11 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥22.1 billion Consolidated
Revenue ¥5.8 billion Consolidated
Revenue ¥0.5 billion Consolidated
Revenue ¥0.8 billion Consolidated
Revenue ¥0.2 billion Consolidated
Revenue ¥-0.5 billion Consolidated
Revenue 2.268 Parent only
Revenue ¥7.4 billion Parent only
Revenue ¥5.8 billion Parent only
Revenue ¥1.4 billion Parent only
Revenue ¥0.8 billion Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥451.9 billion Consolidated

Audit (7 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥0.1 billion Consolidated
Fees for audit and attestation services - total ¥7.00 million Consolidated
Fees for audit and attestation services - total ¥0.2 billion Consolidated
Fees for audit and attestation services - consolidated subsidiaries ¥7.00 million Consolidated
Fees for audit and attestation services - consolidated subsidiaries ¥0.1 billion Consolidated
Fees for non-audit services - reporting company ¥6.00 million Consolidated
Fees for non-audit services - total ¥6.00 million Consolidated

Balance sheet (158 items)

ItemValueConsolidated / Non-consolidated
Other ¥16.6 billion Consolidated
Other ¥71.3 billion Consolidated
Other ¥22.1 billion Consolidated
Other ¥46.1 billion Consolidated
Other ¥28.5 billion Consolidated
Other ¥41.4 billion Consolidated
Other provision ¥56.00 million Consolidated
Other provision ¥48.00 million Consolidated
Valuation difference on available-for-sale securities ¥85.2 billion Consolidated
Other, net ¥11.5 billion Consolidated
Goodwill ¥126.2 billion Consolidated
Goodwill ¥126.2 billion Consolidated
Work in process ¥0.5 billion Consolidated
Real estate for sale in process ¥46.7 billion Consolidated
Leasehold right ¥91.2 billion Consolidated
Retained earnings ¥593.9 billion Consolidated
Advances received ¥12.5 billion Consolidated
Organization expenses ¥1.00 million Consolidated
Raw materials and supplies ¥1.0 billion Consolidated
Notes receivable - trade ¥0.7 billion Consolidated
Merchandise and finished goods ¥3.5 billion Consolidated
Operational investment securities ¥78.3 billion Consolidated
Non-current liabilities ¥2,076.2 billion Consolidated
Non-current assets ¥2,817.8 billion Consolidated
Land ¥1,546.1 billion Consolidated
Guarantee deposits ¥56.4 billion Consolidated
Buildings and structures ¥359.2 billion Consolidated
Buildings and structures, net ¥277.3 billion Consolidated
Construction in progress ¥71.5 billion Consolidated
Provision for directors' bonuses ¥0.5 billion Consolidated
Investments and other assets ¥631.6 billion Consolidated
Investment securities ¥499.5 billion Consolidated
Subscription rights to shares ¥75.00 million Consolidated
Property, plant and equipment ¥1,927.4 billion Consolidated
Costs on uncompleted construction contracts ¥47.00 million Consolidated
Income taxes payable ¥32.5 billion Consolidated
Accrued expenses ¥8.2 billion Consolidated
Shareholders' equity ¥829.4 billion Consolidated
Stock issuance cost da ¥45.00 million Consolidated
Provision for stocks payment-NCL ¥4.4 billion Consolidated
Machinery, equipment and vehicles ¥28.2 billion Consolidated
Machinery, equipment and vehicles, net ¥20.9 billion Consolidated
Current liabilities ¥490.7 billion Consolidated
Current assets ¥686.5 billion Consolidated
Accumulated depreciation ¥-10.6 billion Consolidated
Accumulated depreciation ¥-81.9 billion Consolidated
Accumulated depreciation ¥-7.2 billion Consolidated
Foreign currency translation adjustment ¥-0.4 billion Consolidated
Intangible assets ¥258.8 billion Consolidated
Cash and cash equivalents ¥130.7 billion Consolidated
Cash and deposits ¥131.1 billion Consolidated
Short-term loans payable ¥3.3 billion Consolidated
Short-term bonds ¥119.7 billion Consolidated
Bonds payable ¥424.1 billion Consolidated
Bond issuance cost ¥1.6 billion Consolidated
Net assets ¥939.2 billion Consolidated
Net assets ¥939.2 billion Consolidated
Total assets ¥3,506.1 billion Consolidated
Total assets ¥3,506.1 billion Consolidated
Deferred gains or losses on hedges ¥-1.0 billion Consolidated
Deferred tax liabilities ¥107.2 billion Consolidated
Deferred tax assets ¥4.1 billion Consolidated
Deferred assets ¥1.7 billion Consolidated
Treasury stock ¥-6.2 billion Consolidated
Valuation and translation adjustments ¥83.9 billion Consolidated
Liabilities ¥2,566.9 billion Consolidated
Liabilities and net assets ¥3,506.1 billion Consolidated
Real estate for sale ¥374.3 billion Consolidated
Allowance for doubtful accounts ¥-7.00 million Consolidated
Allowance for doubtful accounts ¥-50.00 million Consolidated
Capital surplus ¥130.0 billion Consolidated
Capital stock ¥111.6 billion Consolidated
Provision for bonuses ¥1.7 billion Consolidated
Remeasurements of defined benefit plans ¥96.00 million Consolidated
Net defined benefit liability ¥5.3 billion Consolidated
Net defined benefit asset ¥0.3 billion Consolidated
Long-term loans payable ¥1,398.1 billion Consolidated
Long term guarantee deposited ¥120.4 billion Consolidated
Business commencement expenses ¥46.00 million Consolidated
Non-controlling interests ¥25.8 billion Consolidated
Current portion of bonds payable ¥60.1 billion Consolidated
Current portion of long-term loans payable ¥206.0 billion Consolidated
Other ¥0.5 billion Parent only
Other ¥49.0 billion Parent only
Other ¥0.6 billion Parent only
Other ¥74.6 billion Parent only
Other ¥3.1 billion Parent only
Investments in other securities of subsidiaries and associates ¥302.8 billion Parent only
Valuation difference on available-for-sale securities ¥85.6 billion Parent only
Other capital surplus ¥91.3 billion Parent only
Goodwill ¥0.5 billion Parent only
Software ¥0.4 billion Parent only
Lease assets, net ¥0 Parent only
Real estate for sale in process ¥57.00 million Parent only
Leasehold right ¥89.9 billion Parent only
Investments in capital ¥33.00 million Parent only
Retained earnings ¥494.1 billion Parent only
Legal retained earnings ¥0.2 billion Parent only
Advances received ¥7.8 billion Parent only
Prepaid expenses ¥2.1 billion Parent only
Merchandise ¥3.00 million Parent only
Operational investment securities ¥42.4 billion Parent only
Non-current liabilities ¥1,922.4 billion Parent only
Non-current assets ¥2,844.5 billion Parent only
Reserve for advanced depreciation of noncurrent assets ¥102.4 billion Parent only
Land ¥1,450.0 billion Parent only
Tools, furniture and fixtures ¥1.4 billion Parent only
Buildings, net ¥247.3 billion Parent only
Construction in progress ¥49.4 billion Parent only
Provision for directors' bonuses ¥0.3 billion Parent only
Investments and other assets ¥979.5 billion Parent only
Investment securities ¥284.5 billion Parent only
Lease and guarantee deposits ¥45.8 billion Parent only
Property, plant and equipment ¥1,771.1 billion Parent only
Income taxes payable ¥23.1 billion Parent only
Accrued expenses ¥5.2 billion Parent only
Accounts payable - other ¥22.2 billion Parent only
Shareholders' equity ¥809.2 billion Parent only
Provision for stocks payment-NCL ¥4.4 billion Parent only
Structures, net ¥7.6 billion Parent only
Machinery and equipment, net ¥15.3 billion Parent only
Current liabilities ¥451.2 billion Parent only
Current assets ¥421.3 billion Parent only
Intangible assets ¥93.9 billion Parent only
Cash and deposits ¥46.1 billion Parent only
Short-term bonds ¥119.7 billion Parent only
Bonds payable ¥424.0 billion Parent only
Bond issuance cost ¥1.6 billion Parent only
Net assets ¥893.8 billion Parent only
Net assets ¥893.8 billion Parent only
Total assets ¥3,267.4 billion Parent only
Deferred gains or losses on hedges ¥-1.0 billion Parent only
Deferred tax liabilities ¥90.6 billion Parent only
Deferred assets ¥1.6 billion Parent only
Retained earnings brought forward ¥391.6 billion Parent only
Treasury stock ¥-9.0 billion Parent only
Valuation and translation adjustments ¥84.6 billion Parent only
Liabilities ¥2,373.6 billion Parent only
Liabilities and net assets ¥3,267.4 billion Parent only
Real estate for sale ¥248.6 billion Parent only
Supplies ¥20.00 million Parent only
Allowance for doubtful accounts ¥-1.00 million Parent only
Allowance for doubtful accounts ¥-1.00 million Parent only
Capital surplus ¥212.5 billion Parent only
Legal capital surplus ¥121.2 billion Parent only
Capital stock ¥111.6 billion Parent only
Asset retirement obligations ¥4.0 billion Parent only
Provision for bonuses ¥0.6 billion Parent only
Vehicles, net ¥0 Parent only
Provision for retirement benefits ¥1.1 billion Parent only
Long-term loans payable ¥1,288.8 billion Parent only
Long-term prepaid expenses ¥9.9 billion Parent only
Long term guarantee deposited ¥108.9 billion Parent only
Shares of subsidiaries and associates ¥287.5 billion Parent only
Affiliated company short-term loans payable ¥10.5 billion Parent only
Deposits received ¥2.3 billion Parent only
Current portion of bonds payable ¥60.0 billion Parent only
Current portion of long-term loans payable ¥198.9 billion Parent only

Statement of income (114 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.9 billion Consolidated
Other ¥5.8 billion Consolidated
Other ¥0.1 billion Consolidated
Other ¥14.00 million Consolidated
Other comprehensive income ¥20.1 billion Consolidated
Valuation difference on available for sale securities net of tax ¥19.8 billion Consolidated
Amortization of goodwill ¥7.0 billion Consolidated
Dividends from surplus ¥-43.3 billion Consolidated
Comprehensive income ¥135.3 billion Consolidated
Interest income ¥0.6 billion Consolidated
Dividend income ¥5.2 billion Consolidated
Operating income ¥186.8 billion Consolidated
Operating income ¥186.8 billion Consolidated
Operating cost ¥450.6 billion Consolidated
Operating revenue ¥727.4 billion Consolidated
Operating revenue ¥727.4 billion Consolidated
Non-operating income ¥13.6 billion Consolidated
Non-operating expenses ¥27.5 billion Consolidated
Net cash provided by (used in) operating activities ¥269.2 billion Consolidated
Operating gross profit ¥276.8 billion Consolidated
Loss on retirement of non-current assets ¥1.6 billion Consolidated
Net income ¥114.3 billion Consolidated
Net income ¥114.3 billion Consolidated
Net income (loss) ¥115.3 billion Consolidated
Net income (loss) ¥115.3 billion Consolidated
Provision for directors' bonuses ¥0.5 billion Consolidated
Gain on sales of investment securities ¥3.8 billion Consolidated
Net cash provided by (used in) investing activities ¥-544.5 billion Consolidated
Share of profit of investments accounted for using equity method ¥1.2 billion Consolidated
Share of other comprehensive income of investments accounted for using equity method ¥-0.1 billion Consolidated
Interest expenses ¥21.8 billion Consolidated
Commission fees ¥10.3 billion Consolidated
Increases in cash and cash equivalents from newly consolidated subsidiaries ¥52.00 million Consolidated
Provision for dividend ¥1.2 billion Consolidated
Business consignment expenses ¥15.2 billion Consolidated
Income taxes - current ¥53.3 billion Consolidated
Income taxes ¥56.1 billion Consolidated
Income taxes - deferred ¥2.8 billion Consolidated
Impairment loss ¥3.6 billion Consolidated
Impairment loss ¥3.6 billion Consolidated
Foreign currency translation adjustment net of tax ¥0.7 billion Consolidated
Extraordinary income ¥4.5 billion Consolidated
Extraordinary loss ¥6.1 billion Consolidated
Effect of exchange rate change on cash and cash equivalents ¥0.1 billion Consolidated
Net increase (decrease) in cash and cash equivalents ¥-2.9 billion Consolidated
Taxes and dues ¥6.0 billion Consolidated
Income (loss) before income taxes ¥171.3 billion Consolidated
Income (loss) before income taxes ¥171.3 billion Consolidated
Ordinary income ¥172.9 billion Consolidated
Salaries and allowances ¥13.8 billion Consolidated
Deferred gains or losses on hedges net of tax ¥-0.5 billion Consolidated
Disposal of treasury stock ¥0 Consolidated
Purchase of treasury stock ¥-3.1 billion Consolidated
Comprehensive income attributable to owners of parent ¥134.4 billion Consolidated
Net cash provided by (used in) financing activities ¥272.3 billion Consolidated
Selling, general and administrative expenses ¥90.0 billion Consolidated
Provision of allowance for doubtful accounts ¥8.00 million Consolidated
Provision for bonuses ¥1.3 billion Consolidated
Remeasurements of defined benefit plans net of tax ¥0.2 billion Consolidated
Retirement benefit expenses ¥0.7 billion Consolidated
Change of scope of consolidation ¥-3.00 million Consolidated
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation ¥-0.9 billion Consolidated
Changes in equity of parent from transaction of non controlling interest ¥-7.7 billion Consolidated
Comprehensive income attributable to non-controlling interests ¥0.9 billion Consolidated
Net income (loss) attributable to non-controlling interests ¥0.9 billion Consolidated
Other ¥0.5 billion Parent only
Other ¥3.9 billion Parent only
Other ¥90.00 million Parent only
Other ¥16.00 million Parent only
Other cost ¥21.00 million Parent only
Other sales rev oa ¥7.00 million Parent only
Cost of sales - real estate ¥233.9 billion Parent only
Real estate sales ¥354.4 billion Parent only
Dividends from surplus ¥-43.3 billion Parent only
Interest income ¥1.3 billion Parent only
Dividend income ¥12.3 billion Parent only
Operating income ¥156.4 billion Parent only
Operating cost ¥276.3 billion Parent only
Operating revenue ¥459.9 billion Parent only
Non-operating income ¥21.7 billion Parent only
Non-operating expenses ¥23.1 billion Parent only
Operating gross profit ¥183.6 billion Parent only
Loss on retirement of non-current assets ¥1.7 billion Parent only
Electricali sales income-NOI ¥1.8 billion Parent only
Net income (loss) ¥107.6 billion Parent only
Net income (loss) ¥107.6 billion Parent only
Provision for directors' bonuses ¥0.3 billion Parent only
Gain on sales of investment securities ¥3.8 billion Parent only
Interest expenses ¥13.5 billion Parent only
Commission fees ¥2.3 billion Parent only
Interest on securities ¥55.00 million Parent only
Provision for dividend ¥1.2 billion Parent only
Business consignment expenses ¥5.7 billion Parent only
Income taxes - current ¥42.8 billion Parent only
Income taxes ¥46.8 billion Parent only
Income taxes - deferred ¥4.0 billion Parent only
Depreciation ¥0.7 billion Parent only
Impairment loss ¥3.3 billion Parent only
Extraordinary income ¥5.2 billion Parent only
Extraordinary loss ¥5.8 billion Parent only
Interest on bonds ¥5.7 billion Parent only
Taxes and dues ¥4.8 billion Parent only
Income (loss) before income taxes ¥154.5 billion Parent only
Ordinary income ¥155.0 billion Parent only
Salaries and allowances ¥2.7 billion Parent only
Disposal of treasury stock ¥0 Parent only
Purchase of treasury stock ¥-3.1 billion Parent only
Selling, general and administrative expenses ¥27.1 billion Parent only
Reversal of allowance for doubtful accounts ¥1.00 million Parent only
Lease business cost cos exp oa ¥42.4 billion Parent only
Lease business revenue rev oa ¥105.5 billion Parent only
Bonuses ¥2.1 billion Parent only
Provision for bonuses ¥0.6 billion Parent only
Retirement benefit expenses ¥0.2 billion Parent only

Statement of changes in equity (4 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥82.8 billion Consolidated
Net changes in items other than shareholders' equity ¥22.6 billion Consolidated
Total changes during the period ¥80.4 billion Parent only
Net changes in items other than shareholders' equity ¥19.2 billion Parent only

Statement of cash flows (47 items)

ItemValueConsolidated / Non-consolidated
Other ¥-13.2 billion Consolidated
Other ¥-14.5 billion Consolidated
Increase decrease in other provision ¥-8.00 million Consolidated
Increase (decrease) in other liabilities ¥8.3 billion Consolidated
Decrease (increase) in other assets ¥-0.4 billion Consolidated
Interest expenses paid ¥-19.8 billion Consolidated
Interest and dividends income received ¥8.0 billion Consolidated
Interest and dividend income ¥-5.7 billion Consolidated
Decrease increase in investment securities for sale ¥-57.5 billion Consolidated
Proceeds from sales of non-current assets ¥0.2 billion Consolidated
Loss (gain) on sales of fixed assets ¥-61.00 million Consolidated
Loss on retirement of non-current assets ¥1.6 billion Consolidated
Decrease increase in notes and accounts receivable trade ¥-3.2 billion Consolidated
Proceeds from withdrawal of time deposits ¥0.2 billion Consolidated
Payments into time deposits ¥-0.5 billion Consolidated
Subtotal ¥330.6 billion Consolidated
Decrease (increase) in guarantee deposits ¥-2.2 billion Consolidated
Increase decrease in provision for directors bonuses ¥0.2 billion Consolidated
Proceeds from redemption of investment securities ¥45.2 billion Consolidated
Purchase of investment securities ¥-105.6 billion Consolidated
Proceeds from sales of investment securities ¥4.5 billion Consolidated
Loss (gain) on sales of long-term investment securities ¥-3.8 billion Consolidated
Equity in earnings losses of affiliates ¥-1.2 billion Consolidated
Interest expenses ¥21.8 billion Consolidated
Purchase of property plant and equipment ¥-426.3 billion Consolidated
Increase (decrease) in provision for share awards ¥1.2 billion Consolidated
Decrease (increase) in inventories ¥164.9 billion Consolidated
Income taxes paid ¥-49.5 billion Consolidated
Depreciation ¥19.9 billion Consolidated
Purchase of intangible assets ¥-19.8 billion Consolidated
Decrease/increase in short-term loans payable ¥-165.5 billion Consolidated
Net increase decrease in short term bonds payable ¥88.8 billion Consolidated
Redemption of bonds ¥-120.0 billion Consolidated
Proceeds from issuance of bonds ¥159.1 billion Consolidated
Regarding purchase of treasury stock ¥-3.1 billion Consolidated
Proceeds from sales of treasury stock ¥0 Consolidated
Payments of loans receivable ¥-6.7 billion Consolidated
Collection of loans receivable ¥2.00 million Consolidated
Increase (decrease) in allowance for doubtful accounts ¥3.00 million Consolidated
Increase (decrease) in provision for bonuses ¥0.4 billion Consolidated
Payments for acquisition in subsidiaries resulting in change in scope of consolidation ¥-22.4 billion Consolidated
Dividends ¥-43.3 billion Consolidated
Proceeds from long term loans payable ¥654.9 billion Consolidated
Repayment of long term loans payable ¥-285.0 billion Consolidated
Proceeds from share issuance to non controlling shareholders ¥2.0 billion Consolidated
Dividends paid to non-controlling interests ¥-1.1 billion Consolidated
Increase decrease in guarantee deposits received ¥15.5 billion Consolidated
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥269.2 billion ConsolidatedDisclosed
Dividend per share 62 Parent onlyDisclosed
Number of employees 3,495 ConsolidatedDisclosed
Net assets ¥939.2 billion ConsolidatedDisclosed
Operating income ¥186.8 billion ConsolidatedDisclosed
Operating revenue ¥727.4 billion ConsolidatedDisclosed
Ordinary income ¥172.9 billion ConsolidatedDisclosed
Net income ¥114.3 billion ConsolidatedDisclosed
Total assets ¥3,506.1 billion ConsolidatedDisclosed
Operating margin 25.7%ConsolidatedCalculated
Net margin 15.7%ConsolidatedCalculated
Sales per employee 208139342 yenConsolidatedCalculated
Total asset turnover 0.21 timesConsolidatedCalculated
Net assets to total assets 26.8%ConsolidatedCalculated
How to read the figures, and caveats

Terms

  • Consolidated: the parent company together with the subsidiaries it consolidates
  • Parent-only: the single company that filed the annual securities report
  • Calculated: a disclosed figure put through the formula shown
  • Not disclosed: no such value in the filing (not treated as zero)
  • Not retrieved: a value this page could not extract, including values in the filing that could not be matched. The same item may appear in another table
  • Segment: a business division the company uses in its disclosures
  • Industry median: the middle value among companies in the same industry that disclose the item
  • ★: position when every company is lined up by value (not a judgement of the company)See the formulas
  • Source: document name, period covered, filing date and where it was obtained
  • Tables scroll sideways

Key figures

  • Operating margin 25.7% Operating income ÷ net sales  = ¥186.8 billion ÷ ¥727.4 billion
    Operating income ÷ net sales. The denominator is Operating revenue (Consolidated, Japanese GAAP).
  • Net margin 15.7% Net income ÷ net sales  = ¥114.3 billion ÷ ¥727.4 billion
    Net income ÷ net sales. The denominator is Operating revenue (Consolidated, Japanese GAAP).
  • Sales per employee 208,139,342 yen Sales or operating revenue ÷ employees  = ¥727.4 billion ÷ 3,495 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 0.21 times Sales or operating revenue ÷ total assets  = ¥727.4 billion ÷ ¥3,506.1 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 26.8% Net assets ÷ total assets  = ¥939.2 billion ÷ ¥3,506.1 billion
    Net assets ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).

Company details

  • Representative President, Representative Director, gBizINFO
  • Consolidated subsidiaries Annual Securities Report

Revenue and profit by business segment

  • Source: segment information, Annual Securities Report (Jan 2025 to Dec 2025) · Consolidated · Net sales to external customers · filed 2026-03-17
  • Share: against the total of Net sales to external customers disclosed by business (100%). Adjustments, corporate, eliminations and “other” left out as they are not businesses (so no match with company-wide Net sales to external customers). Margin: calculated against the Net sales to external customers on the same row“報告セグメント計” in the segment information of the annual securities report: ¥685.8 billion. Gap against this table’s total (the part not listed as a business, such as “other”) within 1%The account may differ from “Revenue” at the top of this page

Amounts by account

  • Totals and their component lines together; consolidated and parent-only figures mixed (right-hand column)

Selling, general and administrative expenses

  • Breakdown of selling, general and administrative expenses (costs of selling and running the company). Cost of sales not included
  • Each item: already inside the SG&A total (not added to it)

Finance

  • Net assets to total assets Net assets ÷ total assets
  • Return on assets (ROA) Net income ÷ total assets (consolidated)
  • Net assets per share Consolidated
  • Free cash flow Free cash flow: operating cash flow (cash generated by the business) plus investing cash flow (asset purchases, disposals and other investments), consolidated
  • Total assets Consolidated
  • Goodwill (the part of the acquisition price above the net assets acquired) 13% of net assets (consolidated)

Capital allocation

  • ★: position when all companies are sorted by value and cut into fifths (a position, not a rating). The five items with ★: only where both numerator and denominator are available on a consolidated basisSee the formulas
  • Cash conversion Net cash provided by (used in) operating activities ÷ operating income
  • Increase in working capital (increase in trade receivables + increase in inventories) ÷ net sales (or operating revenue)。Trade receivables up ¥3.2 billion + inventories down ¥164.9 billion, over net sales ¥727.4 billion
  • Property, plant and equipment purchases relative to depreciation Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥426.3 billion, over depreciation ¥19.9 billion
  • Return to shareholders (dividends paid + purchase of treasury stock) ÷ net cash provided by operating activities。Dividends paid ¥43.3 billion + purchase of treasury stock ¥3.1 billion, over operating cash flow ¥269.2 billion
  • Extraordinary gains and losses relative to ordinary profit (extraordinary income − extraordinary loss) ÷ ordinary income。Extraordinary income ¥4.5 billion − extraordinary loss ¥6.1 billion, over ordinary income ¥172.9 billion
  • Investment securities to net assets Investment securities ÷ net assets。Investment securities ¥499.5 billion, over net assets ¥939.2 billion

Long-term changes in performance

  • Revenue Disclosed value for 2025 ÷ disclosed value for 2012

Year-on-year comparison

  • Year on year: calculated only where the item, reporting range and accounting standard match and the periods are consecutive
  • Comparison basis not confirmed: periods with a change of accounting standard or reporting range, a moved fiscal year end, or an unconfirmed period
  • ◆: a period where revenue moved 20% or more from the prior year, profit as a share of revenue moved 2.0 percentage points or more, or profit or loss changed sign. Item used named in the table and list. Not a ranking of companies

Earnings and net assets per share over time

  • Earnings per share = net profit ÷ shares; net assets per share = net assets ÷ shares. Disclosed values from the key financial indicators of the annual securities report. No share prices used

Return on equity over time

  • Return on equity (ROE): net profit as a proportion of equity. For Japanese companies, the disclosed value in the key financial indicators of the annual securities report (decimals converted to percentages)

Dividend history

  • Payout ratio: dividends as a proportion of net profit. Dividend amounts and payout ratios: the reporting company’s parent-only disclosed values (as written in the annual securities report, not recalculated from consolidated profit). Consecutive increases: years in a row, from the latest backwards, in which the annual dividend per share rose. Consecutive years with a dividend: years in a row with an annual dividend per share above zero. Both this site’s own count (not the criteria of any published index). A year with no disclosure not read as zero; counting stops there. Range limited to the years listed above.

Share ownership by holder category

  • Source: ownership table, annual securities report. Percentages as disclosed, calculated on trading units (some companies do not total exactly 100%). Foreign holders (total): institutions and individuals combined. “Individuals and others”: a register category (not necessarily the share actually held by individuals). Industry median: the middle value among companies in Real Estate that disclose the item (industries with at least 5 companies only).

Major shareholders

  • Source: major shareholders table, annual securities report. Trust bank holdings as written (whose trust is not disclosed)

Research and development expenses and capital expenditure

  • Research and development: total in the R&D section of the annual securities report. Capital expenditure: this year’s actual spending in the capital expenditure overview (not a plan). Years: only those available in the annual securities reports on hand (one to four per company); no row for other years. Share of revenue: divided by consolidated revenue in the same annual securities report. Industry median: the middle value among companies in Real Estate that disclose the item (industries with at least 5 companies only).

Revenue scale in the same industry

  • Revenue (disclosed values) of companies in the same industry, using the same grouping as the industry pages. Only the top three and the two companies either side of this one. Bar length relative to the largest company (100). An order of size, not a ranking of quality

Workforce information

  • All four: the reporting company (parent-only), as disclosed in the employee section of the annual securities report. Employees across the consolidated group: 3,495 (a different scope, kept apart from the four above). Industry median: the middle value among companies in Real Estate that disclose the item (industries with at least 5 companies only).

People and organisation

  • Sales per employee Net sales (or operating revenue) ÷ employees
  • Operating income per employee Operating income ÷ employees
  • Wage gap between men and women Women's pay with men's pay set to 100, reporting company
  • Women in managerial positions Reporting company (parent only)
  • Share of female employees gBizINFO, covering 正社員
  • Men taking childcare leave Reporting company (parent only)
  • Average length of service by gender gBizINFO, covering 正社員
  • Female managers gBizINFO: 26 women among 121 managers
  • Female officers gBizINFO: 5 women among 15 officers
  • Average temporary staff Consolidated, average headcount other than regular employees

Workplace information filings

  • Source: processed from Shokuba-labo, the workplace information site of the Ministry of Health, Labour and Welfare. Items the company filed only Shokuba-labo

Greenhouse gas emissions

  • Source: processed from the Ministry of the Environment’s greenhouse gas calculation, reporting and disclosure system (EEGS). Companies required to report only Ministry of the Environment (EEGS)

Audit and disclosure information

  • Whether there is a going concern note (the accounting assumption that a company will continue operating), and audit information
  • Audit firm, audit fees, going concern note and accounting standard: facts written in the latest annual securities report and the audit report filed with it (not a judgement of the company). Going concern note: “note” when the note text is present, “not applicable” when the report states nothing to report, “cannot be determined” when neither appears. Note text not reproduced. Amended filings not shown (annual securities reports only)

Data sources and calculation methods

Primary source: the annual securities report of Hulic Co.,Ltd. on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 9010001008702 / Accounting standard: Japanese GAAP

  • Amounts: machine transcription of EDINET XBRL (no manual re-keying). Long narrative notes are text and not in the account list. Identifiers: machine transcription of the EDINET code list (retrieved 2026-08-22)
  • ★: position of the value calculated from disclosed figures among the 4,240 companies on this site, on a five-step scale. Not a judgement of the company. No forecasts usedThe formulas and how they are counted
  • No rank: net assets as a share of total assets, cash conversion and revenue per employee (size alone does not show quality). Industry median shown for comparison. Cash conversion of 100%: operating cash flow equal to operating profit
  • Profit-and-loss chart: only where “sales − cost of sales − SG&A = operating income” holds between disclosed values. Cost breakdown: the six largest SG&A items
  • Trend charts: key financial indicators of the annual securities report. Amounts in billions of yen (dividend per share in yen). Long-run chart joins reports filed in different years (newer report for overlapping years). Some items stop part-way after a change of accounting standard. A stock split changes the weight of one share. Consolidated and parent-only in separate tables
  • Revenue scale in the same industry: bars of revenue (disclosed values) of companies in the same industry grouping as the industry pages, largest first. Only the top three and the two companies either side of this one. Each company’s latest fiscal year. An order of size, not a ranking of quality or an investment view
  • Share prices: not published (no data source allows redistribution). No share-price-based indicators (such as the price earnings ratio) and no extension of past growth into the future
  • Average age, average length of service and average annual salary: the reporting company alone (the parent). At a holding company, a small head-office staff. Payout ratio (basic facts): dividend per share ÷ consolidated earnings per share, calculated here (the payout ratio in the annual securities report is the reporting company’s figure, on a different basis). Representative and founding date: gBizINFO (Ministry of Economy, Trade and Industry), some companies only
  • “Retrieved disclosed figures”: every value readable as a number from the annual securities report. Company-wide values only (no segment or other breakdowns)
  • Segment table: machine transcription of the segment information in the annual securities report. Business names as labelled by the company in its XBRL. No table where segment sales differ from the disclosed total by more than 1%. Adjustments, corporate, eliminations and “other” left out of the table and the share denominator, as they are not businesses
  • Breakdowns of amounts, not diagrams of how the business works. Who pays whom, and for what, is not in the disclosed figures; no lines drawn from guesswork