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ASIAN STAR

ASIAN STAR CO.

Company highlights

The largest segment by revenue is Sales of real estate, at 63.8% of the total.

Key figures

Period Jan 2025 to Dec 2025ConsolidatedJapanese GAAP

RevenueDisclosed ¥4.5B
Operating marginCalculated 4.3%
Net assets to total assetsCalculated 58.5%

Company profile

Securities code 8946 / EDINET code E04039 / Real Estate / Fiscal year end December 31

横浜市西区高島二丁目６番３２号／Capital stock ¥1,705 million
Address, capital stock, fiscal year end and industry: the FSA’s EDINET code list.

Company details
渡邉 智彦 Representative
9 Consolidated subsidiaries

Tables scroll sideways

Disclosed data

Source: Annual Securities Report (Jan 2025 to Dec 2025) · filed 2026-03-26

Profitability ★★☆☆☆position among all companies 4.3%
Growth (revenue, 4-year average) ★★★★★position among all companies 15.6%
Capital efficiency ★★☆☆☆position among all companies 5.0%

Business activities and revenue composition

ASIAN STAR

Revenue and profit by business segment

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

SalesProfit Sales of re…Sales of real estate Sales 63.8% 64% Profit 52.6% 53% Real estate…Real estate management Sales 14.4% 14% Profit 22.9% 23% LeasingLeasing Sales 10.0% 10% Profit 5.4% 5% Real estate…Real estate intermediary Sales 7.6% 8% Profit 9.8% 10% InvestmentInvestment Sales 4.2% 4% Profit 9.3% 9%
BusinessNet sales to external customers Operating income
This yearShareLast year This yearShareMarginLast year
Sales of real estate ¥2.9 billion 63.8% ¥2.0 billion ¥0.3 billion 52.6% 11.0% ¥0.2 billion
Real estate management ¥0.7 billion 14.4% ¥0.7 billion ¥0.1 billion 22.9% 21.2% ¥0.1 billion
Leasing ¥0.5 billion 10.0% ¥0.4 billion ¥32.60 million 5.4% 7.2% ¥71.86 million
Real estate intermediary ¥0.3 billion 7.6% ¥0.3 billion ¥59.66 million 9.8% 17.3% ¥28.49 million
Investment ¥0.2 billion 4.2% Could not be retrieved ¥56.10 million 9.3% 29.4% Could not be retrieved
Total of the businesses ¥4.5 billion100.0% ¥0.6 billion 100.0%

Revenue and profit

ASIAN STAR

Period Jan 2025 to Dec 2025Source Annual securities reports

Net sales and operating revenue ¥4.5B　100% Cost of sales ¥3.4B　75% Selling, general and administrative expenses ¥0.9B　20% Operating income ¥0.2B　4%
Amounts by account
GroupAccountAmountConsolidated / Non-consolidated
Selling, general and administrative expenses Payrolls and allowances ¥0.2 billion Consolidated
Directors' compensations ¥0.2 billion Consolidated
Commission fees ¥0.1 billion Consolidated
Other ¥89.87 million Consolidated
Rent expenses ¥69.42 million Consolidated
Legal welfare expenses ¥62.87 million Consolidated
Sales commission ¥57.61 million Consolidated
Amortization of goodwill ¥31.96 million Consolidated
Taxes and dues ¥29.70 million Consolidated
Bonuses ¥28.55 million Consolidated
Advertising expenses ¥25.71 million Consolidated
Traveling and transportation expenses ¥25.06 million Consolidated
Welfare expenses ¥10.68 million Consolidated
Depreciation ¥10.02 million Consolidated
Provision of allowance for doubtful accounts ¥6.79 million Consolidated
Retirement benefit expenses ¥1.17 million Consolidated
Profit by stage Gross profit (loss) ¥1.1 billion Consolidated
Operating income ¥0.2 billion Consolidated
Ordinary income ¥0.2 billion Consolidated
Net income ¥0.1 billion Consolidated

ASIAN STAR

Selling, general and administrative expenses

Period Jan 2025 to Dec 2025Source Annual securities reports

Payrolls and allowances ¥0.2 billion (23.9%)24%Directors' compensations ¥0.2 billion (16.9%)17%Commission fees ¥0.1 billion (11.0%)11%Other ¥0.1 billion (9.7%)10%Rent expenses ¥0.1 billion (7.5%)7%Legal welfare expenses ¥0.1 billion (6.8%)7%Other (not itemized) ¥0.2 billion (24.4%)24%¥0.9B
  • Payrolls and allowances　¥0.2 billion
  • Directors' compensations　¥0.2 billion
  • Commission fees　¥0.1 billion
  • Other　¥0.1 billion
  • Rent expenses　¥0.1 billion
  • Legal welfare expenses　¥0.1 billion
  • Other (not itemized)　¥0.2 billion

Performance, financial position and capital allocation

Finance
58.5% Net assets to total assets Industry median 33.5% FY ending 12/2025 · consolidated / calculated
2.8% Return on assets (ROA)
¥98.86 Net assets per share
¥-0.8 billion Free cash flow
¥4.0 billion Total assets
¥0.2 billion Goodwill (the part of the acquisition price above the net assets acquired)
Capital allocation
-104.8% Cash conversion Industry median 36.4% FY ending 12/2025 · consolidated / calculated
7.7% Increase in working capital ★★★★★ position among all companies FY ending 12/2025 · consolidated / calculated
51.1% Property, plant and equipment purchases relative to depreciation ★★☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
-11.1% Extraordinary gains and losses relative to ordinary profit ★☆☆☆☆ position among all companies FY ending 12/2025 · consolidated / calculated
17.8% 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 ×2.85 from 2012 to 2025

ASIAN STAR

Long-term revenue, profit and asset trends

Period 2012 to 2025Source Annual securities reportsDisclosed

Mark on the chart
5 3 1 -0 2012 2014 2016 2018 2020 2022 2024 2025 Net sales and operating revenue Ordinary income 2013　Net sales year on year -33.9% 2014　Net sales year on year +105.4%, Ordinary income (loss) as a share of revenue +2.4 points 2015　Net sales year on year -45.0%, Ordinary income (loss) as a share of revenue -3.5 points 2016　Ordinary income (loss) as a share of revenue -4.8 points, Ordinary income (loss) profit to loss 2017　Net sales year on year +22.7%, Ordinary income (loss) as a share of revenue +2.1 points, Ordinary income (loss) loss to profit 2018　Net sales year on year +80.8% 2019　Net sales year on year -35.2%, Ordinary income (loss) as a share of revenue -5.6 points, Ordinary income (loss) profit to loss 2020　Ordinary income (loss) as a share of revenue -6.5 points 2021　Net sales year on year +30.3%, Ordinary income (loss) as a share of revenue +10.9 points, Ordinary income (loss) loss to profit 2024　Net sales year on year +57.7% 2025　Net sales year on year +35.5%, Ordinary income (loss) as a share of revenue +2.3 points 5Latest value 2025 5¥ billion 5Highest in the period shown 2025 5¥ billion 1Lowest in the period shown 2013 1¥ billion ¥ billion

ASIAN STAR

Recent performance trends

Source Annual securities reports

5 3 2 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
Net sales ¥2.5B ¥2.5B ¥2.1B ¥3.4B ¥4.5B
Year on year (%) +30.3%◆ -2.1% -14.6% +57.7%◆ +35.5%◆
Ordinary income (loss) ¥0.0B ¥0.0B ¥0.0B ¥0.1B ¥0.2B
Change from prior year loss to profit◆ +899.8% +11.8% +25.4% +209.4%
Ordinary income (loss) as a share of Net sales 0.2% 1.7% 2.2% 1.8% 4.1%
Change (percentage points) +10.9 points◆ +1.5 points +0.5 points -0.5 points +2.3 points◆

Fiscal periods marked for changes

Earlier fiscal periods (8)
  • 2013Net sales year on year -33.9%
  • 2014Net sales year on year +105.4%, Ordinary income (loss) as a share of revenue +2.4 points
  • 2015Net sales year on year -45.0%, Ordinary income (loss) as a share of revenue -3.5 points
  • 2016Ordinary income (loss) as a share of revenue -4.8 points, Ordinary income (loss) profit to loss
  • 2017Net sales year on year +22.7%, Ordinary income (loss) as a share of revenue +2.1 points, Ordinary income (loss) loss to profit
  • 2018Net sales year on year +80.8%
  • 2019Net sales year on year -35.2%, Ordinary income (loss) as a share of revenue -5.6 points, Ordinary income (loss) profit to loss
  • 2020Ordinary income (loss) as a share of revenue -6.5 points
  • 2021Net sales year on year +30.3%, Ordinary income (loss) as a share of revenue +10.9 points, Ordinary income (loss) loss to profit
  • 2024Net sales year on year +57.7%
  • 2025Net sales year on year +35.5%, Ordinary income (loss) as a share of revenue +2.3 points

ASIAN STAR

Earnings and net assets per share over time

Unit yenSource Annual securities reports

5 3 1 -1 4 years ago 3 years ago 2 years ago Last year This year Earnings per share yen 99 66 33 0 4 years ago 3 years ago 2 years ago Last year This year Net assets per share yen

ASIAN STAR

Return on equity over time

Unit %Source Annual securities reports

5 3 2 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
Net sales ¥2.5 billion ¥2.5 billion ¥2.1 billion ¥3.4 billion ¥4.5 billion
Ordinary income (loss) ¥4.26 million ¥42.60 million ¥47.61 million ¥59.69 million ¥0.2 billion
Net income (loss) attributable to owners of parent ¥-21.52 million ¥55.35 million ¥40.95 million ¥18.48 million ¥0.1 billion
Comprehensive income ¥17.68 million ¥88.37 million ¥60.30 million ¥75.15 million ¥0.1 billion
Net assets ¥1.6 billion ¥1.7 billion ¥2.2 billion ¥2.3 billion ¥2.4 billion
Total assets ¥3.1 billion ¥3.1 billion ¥3.6 billion ¥3.3 billion ¥4.0 billion
Net assets per share 84.86 yen 88.49 yen 91.13 yen 93.69 yen 98.86 yen
Basic earnings (loss) per share -1.12 yen 2.88 yen 1.94 yen 0.78 yen 4.77 yen
Diluted earnings per share Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved 4.76 yen
Equity-to-asset ratio 53.3% 54.4% 59.8% 66.8% 58.3%
Return on equity Could not be retrieved 3.3% 2.1% 0.8% 5.0%
Net cash provided by (used in) operating activities ¥0.1 billion ¥0.5 billion ¥0.1 billion ¥0.6 billion ¥-0.2 billion
Net cash provided by (used in) investing activities ¥-0.2 billion ¥-73.49 million ¥6.92 million ¥-0.3 billion ¥-0.6 billion
Net cash provided by (used in) financing activities ¥-0.4 billion ¥89.58 million ¥0.3 billion ¥-0.3 billion ¥0.6 billion
Cash and cash equivalents ¥0.4 billion ¥0.9 billion ¥1.3 billion ¥1.3 billion ¥1.1 billion
Parent only indicators (12 items)
Item4 years ago3 years ago2 years agoLast yearThis year
Net sales ¥1.8 billion ¥1.9 billion ¥1.6 billion ¥2.7 billion ¥3.3 billion
Ordinary income (loss) ¥20.62 million ¥-3.30 million ¥36.48 million ¥11.37 million ¥94.70 million
Net income (loss) ¥20.02 million ¥23.54 million ¥29.30 million ¥7.99 million ¥75.51 million
Capital stock ¥2.0 billion ¥2.0 billion ¥2.2 billion ¥1.7 billion ¥1.7 billion
Total number of issued shares (common stock) 19,308,200 shares 19,308,200 shares 23,808,200 shares 23,808,200 shares 23,808,200 shares
Net assets ¥1.5 billion ¥1.6 billion ¥2.0 billion ¥2.0 billion ¥2.1 billion
Total assets ¥2.6 billion ¥2.8 billion ¥3.2 billion ¥2.8 billion ¥3.4 billion
Net assets per share 79.98 yen 81.21 yen 83.92 yen 84.26 yen 87.44 yen
Basic earnings (loss) per share 1.04 yen 1.22 yen 1.39 yen 0.34 yen 3.18 yen
Diluted earnings per share Could not be retrieved Could not be retrieved Could not be retrieved Could not be retrieved 3.18 yen
Equity-to-asset ratio 58.6% 56.5% 61.8% 71.4% 60.8%
Return on equity 1.3% 1.5% 1.6% 0.4% 3.7%

Shareholder composition

As of 2025-12-31Disclosed

Share ownership by holder category

3,208 Shareholders
54.75% Foreign holders (total) Industry median 3.47%
31.68% Individuals and others Industry median 48.70%

ASIAN STAR

Unit %Source Annual securities reports

  • Financial institutions1.31%
  • Securities firms12.07%
  • Other corporations0.19%
  • Foreign holders (institutions)54.48%
  • Foreign holders (individuals)0.27%
  • Individuals and others31.68%

Major shareholders

RankShareholderShareholding ratioShares held
1 D&W INTERNATIONAL DEVELOPMENT LIMITED（常任代理人 東海東京証券株式会社） 20.65% 4,900,000
2 KGI ASIA LIMITED-CLIENT ACCOUNT（常任代理人 香港上海銀行東京支店） 12.09% 2,868,800
3 Boom Securities (H.K.) Limited-Clients'Account（常任代理人 マネックス証券株式会社） 4.68% 1,109,500
4 トウカイトウキョウセキュリティーズアジアリミテッド（常任代理人 東海東京証券株式会社） 4.32% 1,026,000
5 Futu Securities International (Hong Kong) Limited（常任代理人 moomoo証券株式会社） 2.61% 618,500
6 BBH/DBS BANK (HONG KONG) LIMITED A/C 005 NON US（常任代理人 株式会社三井住友銀行） 2.1% 497,600
7 INTERACTIVE BROKERS LLC（常任代理人 インタラクティブ・ブローカーズ証券株式会社） 2.08% 493,900
8 株式会社ＳＢＩ証券 1.68% 398,636
9 楽天証券株式会社共有口 1.43% 339,900
10 株式会社証券ジャパン 1.42% 337,500

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
¥2.00 million Capital expenditure 0.0% of revenue (industry median 2.2%)
Fiscal year Capital expenditure
FY ending 12/2025 ¥2.00 million
FY ending 12/2020 ¥0.1 billion

Revenue scale in the same industry

ASIAN STAR

Source Annual securities reports of each company

Real Estate: 147 companies · revenue · largest first・each company’s latest fiscal year・consolidated (parent-only where no consolidated figures)・Disclosed

Workforce information

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

32 Employees (parent only) Industry median 102
44.2 Average age Industry median 39.2
8.1 years Average length of service Industry median 6.3 years
¥5.13 million Average annual salary Industry median ¥7.07 million
People and organisation
59.8¥ million Sales per employee Industry median 122.0¥ million FY ending 12/2025 · consolidated / calculated
¥2.58 million Operating income per employee
114.7% Wage gap between men and women
62.5% Women in managerial positions
8 Average temporary staff

Audit and disclosure information

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

ItemValue
Audit firm 監査法人まほろば
Audit fees (this year, total) ¥19.50 million
Non-audit fees (this year, total) Not applicable
Going concern note Stated as not applicable
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) (27 items)

ItemValueConsolidated / Non-consolidated
Comprehensive income ¥0.1 billion Consolidated
Net cash provided by (used in) operating activities ¥-0.2 billion Consolidated
Net sales ¥4.5 billion Consolidated
Net cash provided by (used in) investing activities ¥-0.6 billion Consolidated
Diluted earnings per share 4.76 yen Consolidated
Cash and cash equivalents ¥1.1 billion Consolidated
Net assets ¥2.4 billion Consolidated
Ordinary income (loss) ¥0.2 billion Consolidated
Total assets ¥4.0 billion Consolidated
Return on equity 5.0% Consolidated
Equity-to-asset ratio 58.3% Consolidated
Net income (loss) attributable to owners of parent ¥0.1 billion Consolidated
Net cash provided by (used in) financing activities ¥0.6 billion Consolidated
Basic earnings (loss) per share 4.77 yen Consolidated
Net assets per share 98.86 yen Consolidated
Net sales ¥3.3 billion Parent only
Net income (loss) ¥75.51 million Parent only
Diluted earnings per share 3.18 yen Parent only
Total number of issued shares (common stock) 23,808,200 shares Parent only
Net assets ¥2.1 billion Parent only
Ordinary income (loss) ¥94.70 million Parent only
Total assets ¥3.4 billion Parent only
Return on equity 3.7% Parent only
Equity-to-asset ratio 60.8% Parent only
Capital stock ¥1.7 billion Parent only
Basic earnings (loss) per share 3.18 yen Parent only
Net assets per share 87.44 yen Parent only

Employees (11 items)

ItemValueConsolidated / Non-consolidated
Number of employees 76 people Consolidated
Number of employees 76 people Consolidated
Wage gap between men and women (all employees) 114.7% Parent only
Average length of service (years) 8.1 years Parent only
Average annual salary ¥5.13 million Parent only
Average age (years) 44.2 years old Parent only
Number of employees 32 people Parent only
Number of employees 32 people Parent only
Number of employees 32 people Parent only
Wage gap between men and women (regular employees) 121.6% Parent only
Wage gap between men and women (non-regular employees) 81.1% Parent only

Other disclosed items (11 items)

ItemValueConsolidated / Non-consolidated
Net sales to external customers ¥4.5 billion Consolidated
Average number of temporary employees 8 people Consolidated
Average number of temporary employees 8 people Consolidated
Increase in property plant and equipment and intangible assets ¥2.98 million Consolidated
Depreciation ¥21.32 million Consolidated
Number of consolidated subsidiaries 9 companies Consolidated
Average number of temporary employees 8 people Parent only
Average number of temporary employees 8 people Parent only
Average number of temporary employees 8 people Parent only
Total return on the share price index 213.2% Parent only
Ratio of female employees in managerial positions 62.5% Parent only

Shares (10 items)

ItemValueConsolidated / Non-consolidated
Number of shares held 12,590,336 shares Consolidated
Total number of shares held treasury shares etc 83,200 shares Consolidated
Number of shares 23,808,200 shares Consolidated
Shareholding ratio treasury shares etc 0.4% Consolidated
Shareholding ratio 53.1% Consolidated
Number of shares held in own name treasury shares etc 83,200 shares Consolidated
Number of voting rights 237,219 units Consolidated
Book value equity securities not listed investment equity securities held for pure investment reporting company ¥0.3 billion Consolidated
Number of issues 1 issues Consolidated
Total shareholder return 90.6% Parent only

Property and facilities (1 items)

ItemValueConsolidated / Non-consolidated
Capital expenditures ¥2.00 million Consolidated

Audit (2 items)

ItemValueConsolidated / Non-consolidated
Fees for audit and attestation services - reporting company ¥19.50 million Consolidated
Fees for audit and attestation services - total ¥19.50 million Consolidated

Balance sheet (137 items)

ItemValueConsolidated / Non-consolidated
Other ¥0.1 billion Consolidated
Other ¥55.33 million Consolidated
Other ¥0.5 billion Consolidated
Other ¥6.50 million Consolidated
Investments in other securities of subsidiaries and associates ¥12.98 million Consolidated
Goodwill ¥0.2 billion Consolidated
Goodwill ¥0.2 billion Consolidated
Lease assets ¥2.90 million Consolidated
Real estate for sale in process ¥0.1 billion Consolidated
Retained earnings ¥0.2 billion Consolidated
Advances received ¥0.1 billion Consolidated
Raw materials and supplies ¥1.45 million Consolidated
Notes and accounts receivable trade ¥0.3 billion Consolidated
Merchandise and finished goods ¥4.13 million Consolidated
Non-current liabilities ¥0.3 billion Consolidated
Non-current assets ¥1.4 billion Consolidated
Tools, furniture and fixtures ¥32.78 million Consolidated
Tools, furniture and fixtures ¥3.20 million Consolidated
Buildings and structures ¥31.08 million Consolidated
Buildings and structures, net ¥11.12 million Consolidated
Investments and other assets ¥1.2 billion Consolidated
Real estate for investment ¥0.9 billion Consolidated
Real estate for investment net ¥0.6 billion Consolidated
Investment securities ¥0.4 billion Consolidated
Notes and accounts payable - trade ¥10.94 million Consolidated
Subscription rights to shares ¥3.66 million Consolidated
Property, plant and equipment ¥21.17 million Consolidated
Income taxes payable ¥39.57 million Consolidated
Accounts payable - other ¥0.1 billion Consolidated
Shareholders' equity ¥2.2 billion Consolidated
Current liabilities ¥1.4 billion Consolidated
Current assets ¥2.6 billion Consolidated
Accumulated depreciation ¥-2.90 million Consolidated
Accumulated depreciation ¥-29.58 million Consolidated
Accumulated depreciation ¥-19.96 million Consolidated
Accumulated depreciation ¥-0.3 billion Consolidated
Accumulated depreciation ¥-16.78 million Consolidated
Foreign currency translation adjustment ¥0.1 billion Consolidated
Intangible assets ¥0.2 billion Consolidated
Cash and cash equivalents ¥1.1 billion Consolidated
Cash and deposits ¥1.2 billion Consolidated
Short-term loans payable ¥0.8 billion Consolidated
Net assets ¥2.4 billion Consolidated
Net assets ¥2.4 billion Consolidated
Total assets ¥4.0 billion Consolidated
Total assets ¥4.0 billion Consolidated
Deferred tax assets ¥2.95 million Consolidated
Treasury stock ¥-99.91 million Consolidated
Valuation and translation adjustments ¥0.1 billion Consolidated
Liabilities ¥1.7 billion Consolidated
Liabilities and net assets ¥4.0 billion Consolidated
Real estate for sale ¥0.6 billion Consolidated
Allowance for doubtful accounts ¥-1.44 million Consolidated
Allowance for doubtful accounts ¥-21.40 million Consolidated
Capital surplus ¥0.4 billion Consolidated
Capital stock ¥1.7 billion Consolidated
Vehicle and delivery equipment ¥23.62 million Consolidated
Vehicles, net ¥6.85 million Consolidated
Net defined benefit liability ¥38.95 million Consolidated
Long-term loans payable ¥52.00 million Consolidated
Long-term loans receivable ¥70.00 million Consolidated
Long term guarantee deposited ¥0.2 billion Consolidated
Loans receivable to subsidiaries and affiliates ¥6.25 million Consolidated
Non-controlling interests ¥4.28 million Consolidated
Deposits received ¥0.2 billion Consolidated
Current portion of long-term loans payable ¥6.25 million Consolidated
Other ¥22.18 million Parent only
Software ¥5.66 million Parent only
Lease assets ¥2.90 million Parent only
Real estate for sale in process ¥0.1 billion Parent only
Investments in capital ¥0.3 billion Parent only
Retained earnings ¥83.49 million Parent only
Advances received ¥0.1 billion Parent only
Prepaid expenses ¥11.65 million Parent only
Advance payments trade ¥0.2 billion Parent only
Merchandise ¥4.13 million Parent only
Non-current liabilities ¥0.1 billion Parent only
Non-current assets ¥1.5 billion Parent only
Accounts receivable - trade ¥89.04 million Parent only
Tools, furniture and fixtures ¥24.50 million Parent only
Tools, furniture and fixtures ¥2.50 million Parent only
Buildings ¥31.05 million Parent only
Buildings, net ¥11.12 million Parent only
Investments and other assets ¥1.4 billion Parent only
Real estate for investment ¥0.9 billion Parent only
Real estate for investment net ¥0.6 billion Parent only
Investment securities ¥84.00 million Parent only
Lease and guarantee deposits ¥31.59 million Parent only
Subscription rights to shares ¥3.66 million Parent only
Property, plant and equipment ¥19.85 million Parent only
Income taxes payable ¥30.90 million Parent only
Accrued consumption taxes ¥21.49 million Parent only
Accrued expenses ¥12.40 million Parent only
Accounts payable - other ¥52.80 million Parent only
Shareholders' equity ¥2.1 billion Parent only
Structures ¥0.04 million Parent only
Current liabilities ¥1.2 billion Parent only
Current assets ¥2.0 billion Parent only
Accumulated depreciation ¥-2.90 million Parent only
Accumulated depreciation ¥-22.00 million Parent only
Accumulated depreciation ¥-19.92 million Parent only
Accumulated depreciation ¥-0.3 billion Parent only
Accumulated depreciation ¥-0.04 million Parent only
Accumulated depreciation ¥-4.98 million Parent only
Intangible assets ¥5.66 million Parent only
Cash and deposits ¥0.8 billion Parent only
Short-term loans payable ¥0.7 billion Parent only
Short-term loans receivable with resale agreement ¥30.00 million Parent only
Advances paid ¥61.65 million Parent only
Net assets ¥2.1 billion Parent only
Net assets ¥2.1 billion Parent only
Total assets ¥3.4 billion Parent only
Retained earnings brought forward ¥83.49 million Parent only
Treasury stock ¥-99.91 million Parent only
Liabilities ¥1.3 billion Parent only
Liabilities and net assets ¥3.4 billion Parent only
Real estate for sale ¥0.6 billion Parent only
Supplies ¥1.45 million Parent only
Accounts payable - trade ¥6.45 million Parent only
Allowance for doubtful accounts ¥-1.44 million Parent only
Allowance for doubtful accounts ¥-19.11 million Parent only
Capital surplus ¥0.4 billion Parent only
Legal capital surplus ¥0.4 billion Parent only
Capital stock ¥1.7 billion Parent only
Provision for bonuses ¥16.98 million Parent only
Vehicle and delivery equipment ¥11.21 million Parent only
Vehicles, net ¥6.22 million Parent only
Provision for retirement benefits ¥38.95 million Parent only
Long-term accounts receivable-other ¥1.44 million Parent only
Long-term loans receivable ¥70.00 million Parent only
Long term guarantee deposited ¥94.44 million Parent only
Shares of subsidiaries and associates ¥0.4 billion Parent only
Affiliated company short-term loans payable ¥24.47 million Parent only
Loans receivable to subsidiaries and affiliates ¥52.15 million Parent only
Deposit from customer ¥12.48 million Parent only
Deposits received ¥0.2 billion Parent only
Current portion of long-term loans payable ¥1.58 million Parent only

Statement of income (106 items)

ItemValueConsolidated / Non-consolidated
Other ¥1.59 million Consolidated
Other ¥2.02 million Consolidated
Other ¥89.87 million Consolidated
Other comprehensive income ¥9.56 million Consolidated
Amortization of goodwill ¥31.96 million Consolidated
Amortization of goodwill ¥31.96 million Consolidated
Comprehensive income ¥0.1 billion Consolidated
Office work fee ¥0.10 million Consolidated
Interest income ¥6.47 million Consolidated
Operating income ¥0.2 billion Consolidated
Operating income ¥0.2 billion Consolidated
Non-operating income ¥19.01 million Consolidated
Non-operating expenses ¥30.09 million Consolidated
Net cash provided by (used in) operating activities ¥-0.2 billion Consolidated
Gain on sales of non-current assets ¥1.94 million Consolidated
Cost of sales ¥3.4 billion Consolidated
Gross profit (loss) ¥1.1 billion Consolidated
Net sales ¥4.5 billion Consolidated
Net sales ¥4.5 billion Consolidated
Loss on sale of subsidiaries ¥15.40 million Consolidated
Advertising expenses ¥25.71 million Consolidated
Net income ¥0.1 billion Consolidated
Net income ¥0.1 billion Consolidated
Net income (loss) ¥0.1 billion Consolidated
Net income (loss) ¥0.1 billion Consolidated
Directors' compensations ¥0.2 billion Consolidated
Net cash provided by (used in) investing activities ¥-0.6 billion Consolidated
Interest expenses ¥15.90 million Consolidated
Commission fees ¥9.55 million Consolidated
Commission fees ¥0.1 billion Consolidated
Traveling and transportation expenses ¥25.06 million Consolidated
Income taxes - current ¥35.03 million Consolidated
Income taxes ¥42.16 million Consolidated
Income taxes - deferred ¥7.13 million Consolidated
Legal welfare expenses ¥62.87 million Consolidated
Depreciation ¥10.02 million Consolidated
Foreign exchange losses ¥2.62 million Consolidated
Foreign currency translation adjustment net of tax ¥9.56 million Consolidated
Extraordinary income ¥1.94 million Consolidated
Extraordinary loss ¥22.42 million Consolidated
Effect of exchange rate change on cash and cash equivalents ¥8.53 million Consolidated
Net increase (decrease) in cash and cash equivalents ¥-0.2 billion Consolidated
Welfare expenses ¥10.68 million Consolidated
Taxes and dues ¥29.70 million Consolidated
Income (loss) before income taxes ¥0.2 billion Consolidated
Income (loss) before income taxes ¥0.2 billion Consolidated
Ordinary income ¥0.2 billion Consolidated
Payrolls and allowances-SGA ¥0.2 billion Consolidated
Subsidy income ¥1.65 million Consolidated
Comprehensive income attributable to owners of parent ¥0.1 billion Consolidated
Net cash provided by (used in) financing activities ¥0.6 billion Consolidated
Sales commission ¥57.61 million Consolidated
Selling, general and administrative expenses ¥0.9 billion Consolidated
Provision of allowance for doubtful accounts ¥6.79 million Consolidated
Rent expenses ¥69.42 million Consolidated
Bonuses ¥28.55 million Consolidated
Retirement benefit expenses ¥1.17 million Consolidated
Penalty income ¥0.91 million Consolidated
Consumption taxes refund ¥8.28 million Consolidated
Loss on valuation of shares of subsidiaries and associates ¥7.01 million Consolidated
Comprehensive income attributable to non-controlling interests ¥8.96 million Consolidated
Net income (loss) attributable to non-controlling interests ¥8.96 million Consolidated
Other ¥0.74 million Parent only
Other ¥5,000 Parent only
Other ¥91.17 million Parent only
Cost of sales - real estate ¥2.0 billion Parent only
Real estate sales ¥2.3 billion Parent only
Interest income ¥12.47 million Parent only
Operating income ¥96.22 million Parent only
Non-operating income ¥22.76 million Parent only
Non-operating expenses ¥24.28 million Parent only
Gain on sales of non-current assets ¥1.94 million Parent only
Cost of sales ¥2.8 billion Parent only
Gross profit (loss) ¥0.5 billion Parent only
Net sales ¥3.3 billion Parent only
Gain on sales of subsidiaries ¥9.51 million Parent only
Advertising expenses ¥24.84 million Parent only
Net income (loss) ¥75.51 million Parent only
Net income (loss) ¥75.51 million Parent only
Directors' compensations ¥61.81 million Parent only
Gain on investment rev oa ¥38.90 million Parent only
Interest expenses ¥14.72 million Parent only
Commission fees ¥9.55 million Parent only
Commission fees ¥90.08 million Parent only
Traveling and transportation expenses ¥5.25 million Parent only
Operations consignment fee ¥8.64 million Parent only
Income taxes - current ¥23.63 million Parent only
Income taxes ¥23.63 million Parent only
Legal welfare expenses ¥16.96 million Parent only
Depreciation ¥9.67 million Parent only
Extraordinary income ¥11.45 million Parent only
Extraordinary loss ¥7.01 million Parent only
Welfare expenses ¥1.61 million Parent only
Taxes and dues ¥28.00 million Parent only
Income (loss) before income taxes ¥99.14 million Parent only
Ordinary income ¥94.70 million Parent only
Payrolls and allowances-SGA ¥60.90 million Parent only
Selling, general and administrative expenses ¥0.4 billion Parent only
Provision of allowance for doubtful accounts ¥5.90 million Parent only
Rent expenses ¥26.87 million Parent only
Rent cost ¥0.3 billion Parent only
Rental income ¥0.4 billion Parent only
Bonuses ¥13.93 million Parent only
Retirement benefit expenses ¥1.17 million Parent only
Penalty income ¥0.91 million Parent only
Loss on valuation of shares of subsidiaries and associates ¥7.01 million Parent only

Statement of changes in equity (4 items)

ItemValueConsolidated / Non-consolidated
Total changes during the period ¥67.38 million Consolidated
Net changes in items other than shareholders' equity ¥-45.71 million Consolidated
Total changes during the period ¥78.99 million Parent only
Net changes in items other than shareholders' equity ¥3.49 million Parent only

Statement of cash flows (38 items)

ItemValueConsolidated / Non-consolidated
Other ¥-78.08 million Consolidated
Other ¥-5.79 million Consolidated
Amortization of goodwill ¥31.96 million Consolidated
Increase decrease in notes and accounts payable trade ¥3.73 million Consolidated
Interest expenses paid ¥-12.13 million Consolidated
Interest and dividends income received ¥6.47 million Consolidated
Increase (decrease) in advances received ¥4.93 million Consolidated
Interest and dividend income ¥-6.47 million Consolidated
Gain on sales of non-current assets ¥-1.94 million Consolidated
Decrease increase in notes and accounts receivable trade ¥-0.2 billion Consolidated
Loss (gain) on sales of shares of subsidiaries ¥15.40 million Consolidated
Payments into time deposits ¥-0.1 billion Consolidated
Subtotal ¥-0.1 billion Consolidated
Purchase of investment securities ¥-84.00 million Consolidated
Interest expenses ¥15.90 million Consolidated
Proceeds from issuance of subscription rights to shares ¥3.43 million Consolidated
Purchase of property plant and equipment ¥-10.90 million Consolidated
Proceeds from sales of property plant and equipment ¥4.21 million Consolidated
Decrease in consumption taxes payable ¥-2.87 million Consolidated
Increase (decrease) in accounts payable-other ¥41.16 million Consolidated
Decrease (increase) in inventories ¥-0.2 billion Consolidated
Income taxes paid ¥-56.35 million Consolidated
Income taxes refund ¥2.97 million Consolidated
Depreciation ¥21.32 million Consolidated
Increase in short term loans payable ¥1.0 billion Consolidated
Decrease in short term loans payable ¥-0.4 billion Consolidated
Payments of short term loans receivable ¥-90.00 million Consolidated
Collection of short-term loans receivable ¥23.68 million Consolidated
Increase (decrease) in allowance for doubtful accounts ¥6.80 million Consolidated
Increase (decrease) in net defined benefit liability ¥1.41 million Consolidated
Payments for acquisition in subsidiaries resulting in change in scope of consolidation ¥-0.3 billion Consolidated
Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation ¥11.78 million Consolidated
Proceeds from long term loans payable ¥0.1 billion Consolidated
Repayment of long term loans payable ¥-0.2 billion Consolidated
Loss on valuation of shares of subsidiaries and associates ¥7.01 million Consolidated
Proceeds from share issuance to non controlling shareholders ¥4.90 million Consolidated
Increase decrease in guarantee deposits received ¥-6.80 million Consolidated
Increase (decrease) in deposits ¥-14.51 million Consolidated

Accounts unique to this company (4 items)

ItemValueConsolidated / Non-consolidated
Revenue ¥0.4 billion Parent only
Revenue ¥0.2 billion Parent only
Revenue ¥0.3 billion Parent only
Revenue ¥0.1 billion Parent only
Basic indicators
ItemValueConsolidated / Non-consolidatedSource
Net cash provided by (used in) operating activities ¥-0.2 billion ConsolidatedDisclosed
Number of employees 76 ConsolidatedDisclosed
Net assets ¥2.4 billion ConsolidatedDisclosed
Net sales ¥4.5 billion ConsolidatedDisclosed
Operating income ¥0.2 billion ConsolidatedDisclosed
Ordinary income ¥0.2 billion ConsolidatedDisclosed
Net income ¥0.1 billion ConsolidatedDisclosed
Total assets ¥4.0 billion ConsolidatedDisclosed
Operating margin 4.3%ConsolidatedCalculated
Net margin 2.5%ConsolidatedCalculated
Sales per employee 59754197 yenConsolidatedCalculated
Total asset turnover 1.13 timesConsolidatedCalculated
Net assets to total assets 58.5%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 4.3%　Operating income ÷ net sales 　＝ ¥0.2 billion ÷ ¥4.5 billion
    Operating income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Net margin 2.5%　Net income ÷ net sales 　＝ ¥0.1 billion ÷ ¥4.5 billion
    Net income ÷ net sales. The denominator is Net sales (Consolidated, Japanese GAAP).
  • Sales per employee 59,754,197 yen　Sales or operating revenue ÷ employees 　＝ ¥4.5 billion ÷ 76 people
    Sales or operating revenue ÷ employees. The denominator is Number of employees (Consolidated, Japanese GAAP).
  • Total asset turnover 1.13 times　Sales or operating revenue ÷ total assets 　＝ ¥4.5 billion ÷ ¥4.0 billion
    Sales or operating revenue ÷ total assets. The denominator is Total assets (Consolidated, Japanese GAAP).
  • Net assets to total assets 58.5%　Net assets ÷ total assets 　＝ ¥2.4 billion ÷ ¥4.0 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 2026-03-26
  • 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: ¥4.5 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)　7% 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 ¥0.2 billion + inventories up ¥0.2 billion, over net sales ¥4.5 billion
  • Property, plant and equipment purchases relative to depreciation　Purchase of property, plant and equipment ÷ depreciation。Purchase of property, plant and equipment ¥10.90 million, over depreciation ¥21.32 million
  • Extraordinary gains and losses relative to ordinary profit　(extraordinary income − extraordinary loss) ÷ ordinary income。Extraordinary income ¥1.94 million − extraordinary loss ¥22.42 million, over ordinary income ¥0.2 billion
  • Investment securities to net assets　Investment securities ÷ net assets。Investment securities ¥0.4 billion, over net assets ¥2.4 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)

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: 76 (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)
  • Average temporary staff　Consolidated, average headcount other than regular employees

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 ASIAN STAR CO. on EDINET, the FSA’s disclosure system (free to read)
Corporate number: 3020001016255 / 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