Kasumigaseki Capital Co.,Ltd.

Revenue expanded roughly 6.8x from ¥14,296 million in FY2021 to ¥96,501 million in FY2025. Operating profit grew approximately 14.2x over the same period, from ¥1,329 million to ¥18,933 million. In FY2025, revenue increased 46.9% year-on-year while operating profit grew 121.8%, with profit growth significantly outpacing revenue growth, confirming an improvement in the earnings structure.

In August 2025, Kasumigaseki Hotel REIT Investment Corporation, sponsored by the Company, listed on the Tokyo Stock Exchange REIT market. The Company sold 15 hotel properties it had developed to the REIT, completing the circular business model of development → sale → asset management fee income. Kasumigaseki REIT Advisors, a consolidated subsidiary, was appointed as the asset manager, establishing a stable foundation for ongoing asset management fee revenue.

Each business is rooted in an independent social need — inbound demand (hotels), the 2024 problem and fluorocarbon regulations (logistics), a super-aging society (healthcare), and the Dubai 2040 Urban Master Plan (overseas) — diversifying dependence on any specific market conditions. In May 2025, the Company also formed a long-term investment fund incorporating 8 cold/frozen storage warehouse properties.

Rolling out five brands nationwide: 'fav,' 'FAV LUX,' 'edit x seven,' 'seven x seven,' and 'BASE LAYER HOTEL.' In the cumulative nine months of the current fiscal year, three properties newly opened (Setouchi Shodoshima, Miyajima, and Fukuoka), while progress was made on five development site acquisitions, two existing hotel acquisitions, and one transition to the development phase. Incorporating rising inbound demand as an external tailwind, the differentiating factor is the company's high operational-efficiency facility planning capability, which enables profitability even at low occupancy rates.

Rolling out leased-type cold/frozen storage warehouses nationwide against the backdrop of the '2024 problem,' fluorocarbon regulations, and rising demand for frozen food. In the cumulative nine months of the current fiscal year, the second automated frozen warehouse, 'LOGI FLAG TECH Nagoya Minato I,' was completed, and a value-up fund incorporating three existing logistics facilities as portfolio assets, along with one value-up project, was formed. The company is advancing expansion into new development regions and enhancing added value through automation.

Rolling out hospice housing characterized by 'convenient locations near stations,' 'comfortable spatial design,' and 'highly functional facility planning capability,' against the backdrop of end-of-life care demand in a super-aged society. In the cumulative nine months of the current fiscal year, 'CLASWELL Kita-Urawa' (April 2026) and 'CLASWELL Suita' (May 2026) opened. The differentiated model leveraging know-how cultivated in hotel development avoids competition with existing services.

In Dubai, two property sales were executed despite heightened tensions in the Middle East. As the first step in U.S. expansion, a development site was acquired in central Miami, and work has begun on a mixed-use development project centered on hotel and residential components. In parallel with developing the Dubai investment environment for Japanese investors, the company is pursuing multi-country expansion with an eye toward entering the U.S. and other countries.

Through the public offering (4,000,000 shares) in November 2025 and the third-party allotment (691,500 shares) in December, capital stock and capital surplus were each increased by approximately ¥35,349 million. The equity ratio improved from 29.7% to 38.7%, establishing a financial foundation to support aggressive development investment on a total asset scale of ¥192,747 million. The accumulation of ¥72,363 million in real estate for sale secures the capacity for revenue recognition in future periods.