Landix Inc.
2981・Growth Market・Real Estate
sumuzu Business
Core segment centered on real estate sales and brokerage for affluent Tokyo customers
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Revenue (Full Year FY2026, ending March 2026) | ¥23,413 million | ¥20,151 million | ↑ |
| Segment Profit (Full Year FY2026, ending March 2026) | ¥3,428 million | ¥2,612 million | ↑ |
| Segment Revenue YoY Change | +16.2% | — | ↑ |
| Segment Profit YoY Change | +31.2% | — | ↑ |
| Inventory Holding Period | 4.93 months | — | — |
| Referral/Repeat Rate | approx. 30% | approx. 30% | — |
Business Details
Provides an integrated service covering the acquisition and sale of residential land lots, real estate brokerage, matching for custom-built home construction contracting, and the development and sale of income-producing real estate. Focused primarily on the Tokyo Jonan area, the segment targets upper-mass and wealthier affluent customers. Its strengths lie in customer acquisition through proprietary media and social media, achieving an approximate 30% referral/repeat rate, and maintaining a high inventory turnover efficiency with a holding period of 4.93 months from acquisition to sale. Sales of large residential land lots and income-producing real estate drove performance, making this the core business accounting for approximately 99.5% of consolidated revenue.
Recent Overview
Sales of large-scale properties drove both revenue and profit to record highs
For the full year FY2026 (ending March 2026), sumuzu business revenue reached ¥23,413 million (up 16.2% year-on-year), and segment profit reached ¥3,428 million (up 31.2% year-on-year), both setting new record highs. In addition to stable customer acquisition through word-of-mouth referrals and repeat business from affluent customers, as well as the use of proprietary media and social media, sales of large residential land lots and income-producing real estate significantly boosted performance. The inventory holding period remained at a favorable 4.93 months, while inventory assets increased by ¥2,487 million from the previous fiscal year-end to ¥14,685 million, securing sufficient sales capacity for the next period.
Key Products
Growth Drivers
- Stable customer acquisition through continued maintenance of an approximately 30% referral/repeat rate among affluent customers
- Improved quantity and quality of new customer outreach through strengthened proprietary media and social media
- Accumulation of high-value transactions through planned sales of large residential land lots and income-producing real estate
- Business area expansion from the Tokyo Jonan area to Bunkyo, Suginami, Toshima, Nakano wards, and other areas
- Business expansion into the used condominium market and DX promotion through the consolidation of Rinne Co., Ltd. as a subsidiary
- Early development of sales personnel through active recruitment and enhanced training programs for young talent
Risks
- Impact on mortgage rates and customer purchasing intent from the Bank of Japan's policy rate hikes (raised to 0.75% in December 2025)
- Declining trend in housing starts due to soaring land prices and construction costs (including a rebound decline following the full implementation of the revised Energy Conservation Law for Buildings and revised Building Standards Act in April 2025)
- Inventory risk and financial burden from increased borrowings associated with a significant buildup in inventory assets (¥14,685 million) (interest expense of ¥222 million, up 53% year-on-year)
- Risk of damages liability arising from defect warranty obligations, legal regulations, and similar factors
- Increasing difficulty in securing capable sales personnel due to intensifying competition for talent
Last updated: June 24, 2026