FaithNetwork Co.,Ltd
3489・Standard Market・Real Estate
Business
Face Network Co., Ltd. is a real estate company that plans, develops, and sells its own investment-purpose Newly Built Whole-Building RC Condominium "GranDuo" Series and Luxury Rental Residence "THE GRANDUO" Series, primarily in Setagaya, Meguro, and Shibuya Wards (the "Johnan 3 Wards") of Tokyo. Its main customers are property owners such as affluent individuals and general business corporations, and the company employs a pull-type sales approach via financial institutions and major real estate brokerage firms. Its consolidated subsidiary Iwamoto Gumi Co., Ltd. handles construction work, and the company provides an integrated service from tenant recruitment under the leasing brokerage brand "3-Ward miraie" through to property management (PM). For FY2026 (ending March 2026), consolidated net sales reached ¥32,917 million and operating profit reached ¥5,632 million, both marking record highs.
Business Model
Through a one-stop service in which the entire process—land acquisition, planning, design, construction, leasing, sales, and property management—is completed within the company's own group, the company reduces intermediary costs while maximizing property value. The main revenue sources are the bulk sale of completed buildings (real estate products) and construction contracting (construction products), and after sales, the company continues to earn PM fees on an ongoing basis through the Real Estate Management Business. Fundraising is centered on borrowings from financial institutions, which cover land acquisition and construction costs.
Company Strengths
The company has a track record of developing over 300 properties in the 3 southern Tokyo wards and has gained a certain level of recognition among local real estate operators. This has built an environment where promising land information tends to gather, and speedy decision-making utilizing volume plans from the in-house design department is directly linked to procurement competitiveness.
By managing the entire process in-house as a group—from land acquisition to design, construction, leasing, sales, and property management—the company achieves reductions in intermediate costs and shortened development periods. Through a mechanism that feeds tenant feedback from the leasing and management departments back into the design process, the company continuously secures property quality that contributes to maintaining occupancy rates.
The company does not conduct telemarketing or door-to-door sales, instead adopting a pull-type sales approach based on referrals and intermediation from major real estate brokerage firms, trust banks, financial institutions, and existing customers. In FY2026 (ending March 2026), the company sold 22 real estate products and 4 construction products, among others, achieving revenue growth of over 10% and operating profit growth of 24.6%. During the period, there was no single customer accounting for 10% or more of revenue, reflecting progress in customer diversification.
ENVALITH's Perspective
Performance Trend
Net sales grew for five consecutive periods: ¥17,021 million in FY2022 → ¥20,968 million in FY2023 → ¥22,285 million in FY2024 → ¥29,916 million in FY2025 → ¥32,916 million in FY2026. Operating profit, after a temporary decline in FY2024 (¥2,090 million), rebounded sharply for two consecutive periods to ¥4,519 million in FY2025 and ¥5,632 million in FY2026, setting new record highs. The operating profit margin also improved, reaching 17.1% in FY2026 (versus 15.1% in the prior period), while ROE rose to 32.4% (versus 32.2% in the prior period). As an external factor, soaring prices of condominiums for sale in the Tokyo metropolitan area combined with robust rental demand have boosted demand for investment real estate, supporting the company's sales environment. On the other hand, the sharp increase in inventory (real estate for sale in process totaling ¥20,096 million) and the shift of operating cash flow into negative territory warrant close attention going forward.
Growth Strategy
Under NEXT VISION 2029, the company aims for sustainable growth through larger-scale properties, the launch of new brands, and the acquisition of affluent customers.
Continuously promote development under the "GranDuo" Series and "THE GRANDUO" Series, aiming to improve unit sales prices and profitability by increasing property scale. In FY2026 (ending March 2026), the company sold 22 real estate products and 4 construction products, achieving Real Estate Investment Support Business sales of ¥31,994 million (up 10.1% year on year).
Under the new medium-term management plan "NEXT VISION 2029," in addition to existing brands, launch a brand with a new concept to expand the product lineup. The company aims to meet the diverse needs of affluent individuals and institutional investors, expanding its customer base and diversifying its revenue sources.
Promote the acquisition of new affluent customers through strengthened partnerships with financial institutions, while implementing initiatives to enhance corporate recognition. Deepen the pull-type sales system to improve sales efficiency, achieving both containment of the SG&A ratio and high-quality customer acquisition.
Introduced progressive dividends following the change in dividend policy announced on May 15, 2026. The dividend forecast for FY2027 (ending March 2027) is ¥45.00 (payout ratio of 35.1%), an increase from the previous period. The company aims to enhance its appeal to long-term investors by strengthening shareholder returns in line with sustained profit growth.
Last updated: July 19, 2026