Japan PropTech Co.,Ltd.
4054・Growth Market・Information & Communication
Real Estate Business Support (Single Segment)
A real estate DX specialist providing SaaS-based cloud services end-to-end for the real estate industry
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative Q3 FY2026, ending June 2026) | ¥3,818 million | – (not comparable, as the prior-year period was disclosed on a consolidated basis) | ↑ |
| Operating profit (cumulative Q3 FY2026, ending June 2026) | ¥432 million | – (not comparable, as the prior-year period was disclosed on a consolidated basis) | ↑ |
| Ordinary profit (cumulative Q3 FY2026, ending June 2026) | ¥504 million | – (not comparable, as the prior-year period was disclosed on a consolidated basis) | ↑ |
| Quarterly net profit (cumulative Q3 FY2026, ending June 2026) | ¥350 million | – (not comparable, as the prior-year period was disclosed on a consolidated basis) | ↑ |
| Net sales (full-year forecast, FY2026 ending June 2026) | ¥5,800 million (+14.3% YoY) | ¥5,075 million (FY2025 (ended June 2025) actual) | ↑ |
| Operating profit (full-year forecast, FY2026 ending June 2026) | ¥1,200 million (+19.5% YoY) | ¥1,004 million (FY2025 (ended June 2025) actual) | ↑ |
| Brokerage Solutions net sales (cumulative Q3) | ¥1,479 million | – (not comparable, as the prior-year period was disclosed on a consolidated basis) | ↑ |
| Management Solutions net sales (cumulative Q3) | ¥2,267 million | – (not comparable, as the prior-year period was disclosed on a consolidated basis) | ↑ |
| Total assets (end of Q3) | ¥5,788 million | ¥5,720 million (end of FY2025, ended June 2025) | ↑ |
| Equity ratio (end of Q3) | 69.0% | 68.2% (end of FY2025, ended June 2025) | ↑ |
| Quarterly net profit per share (cumulative Q3) | ¥25.41 | – (not comparable, as the prior-year period was disclosed on a consolidated basis) | — |
| Progress rate toward full-year forecast (net sales) | 65.8% (¥3,818 million／¥5,800 million) | – | — |
| Progress rate toward full-year forecast (operating profit) | 36.1% (¥432 million／¥1,200 million) | – | — |
Business Details
Main customers are real estate management companies and brokerage firms. The company operates services along two axes: "Brokerage Solutions" (inter-agent property listing distribution, customer acquisition, and electronic contract support) and "Management Solutions" (centered on the rental management system "Chintai Kakumei"). The main revenue base is monthly subscription-type recurring revenue, achieving stable revenue accumulation through consistently low churn rates. In July 2024, the company absorbed its wholly owned subsidiary Real Net Pro through a merger and now operates as a single non-consolidated segment.
Recent Overview
Recorded net sales of ¥3,818 million and operating profit of ¥432 million for cumulative Q3; full-year forecast maintained
For the cumulative nine months of FY2026 (ending March 2026) (July 2025 to March 2026), the company recorded net sales of ¥3,818 million, operating profit of ¥432 million, ordinary profit of ¥504 million, and quarterly net profit of ¥350 million. Monthly usage fees continued to accumulate steadily in both Brokerage Solutions (¥1,479 million) and Management Solutions (¥2,267 million). The company is actively promoting version upgrade proposals for "Chintai Kakumei 11," released in August 2025. Software assets increased by ¥413 million from the end of the prior fiscal year as development investment continued. The full-year earnings forecast (net sales of ¥5,800 million, operating profit of ¥1,200 million) remains unchanged. The progress rate toward the full-year operating profit forecast stands at only 36.1%, suggesting a weighting toward the fourth quarter.
Key Products
Growth Drivers
- Expansion of MRR (monthly recurring revenue) in Brokerage Solutions: monthly usage fees for inter-agent property listing distribution, customer acquisition, and electronic contract services have steadily accumulated, reaching ¥1,479 million on a cumulative Q3 basis
- Accumulation of running revenue in Management Solutions: monthly usage fees continue to expand steadily due to a stable low churn rate, reaching ¥2,267 million on a cumulative Q3 basis
- Promotion of upsell and cross-sell to existing customers through the "Chintai Kakumei 11" version upgrade
- Continued high level of IT investment demand driven by the real estate industry's chronic labor shortage
- Full-scale emergence of demand for automation and enhancement of business processes through technological innovations such as generative AI, and acceleration of industry-wide DX
- Strengthened customer acquisition and retention through a nationwide, community-based consulting network
Risks
- The full-year progress rate for operating profit remains at only 36.1% (cumulative Q3 of ¥432 million against a full-year forecast of ¥1,200 million), reflecting a back-loaded structure requiring ¥768 million in operating profit in Q4
- A declining trend in initial sales: initial sales are sluggish in both Brokerage Solutions and Management Solutions, raising the risk of slowing running revenue growth amid increasing reliance on recurring revenue
- Continued increase in software development investment: construction-in-progress software of ¥1,138 million and software of ¥516 million are recorded on the balance sheet, presenting uncertainty over investment recovery and future impairment risk
- Potential downward pressure on the domestic economy from fluctuations in U.S. trade policy and financial/capital markets, which could affect IT investment appetite in the real estate industry
- A disclosure constraint whereby year-over-year comparative information is unavailable (due to the shift from consolidated to non-consolidated reporting), making it difficult for outside parties to verify actual changes in growth rate and profitability
- Lack of disclosed final-year figures in the medium-term management plan (FY2025-FY2027), resulting in low transparency regarding the long-term growth outlook
Last updated: September 24, 2025