SUNNEXTA GROUP Inc.
8945・Standard Market・Real Estate
Business
SunNext Tag Group is a corporate group under a holding company structure that provides housing-related outsourcing services, built on two core pillars: the "Company Housing Management Business," which handles company housing administration outsourcing for corporations, and the "Condominium Management Business," which handles condominium management and repair construction. The group consists of four consolidated subsidiaries (Nihon Shataku Service, Classite, Classite Fudosan, and Three S), and operates "Nihon Shataku Net," a franchise network under contract with real estate companies nationwide for company housing management. Its main customers are the HR and general affairs departments of large and mid-sized companies, as well as condominium management associations. In its Incubation Business, the company is nurturing a DX support service for housing management operators. Founded in 1998, the company is listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
The Company Housing Management Business is a stock-based business in which revenue accumulates according to the number of contracts entrusted by client companies; the number of contracted units at the end of FY2025 (ending June 2025) was 313,126. The Condominium Management Business is founded on management fee income (based on the number of managed buildings and units) derived from management entrustment agreements with management associations, and builds on this by incorporating ancillary income from repair construction, private unit services, and the like. Combined, the two businesses recorded net sales of ¥8,695 million and operating profit of ¥742 million (operating margin of 8.5%).
Company Strengths
The Company Housing Management Business achieved an operating margin of 27.1% in FY2025 (ended June 2025) (operating profit of ¥1,183 million). The number of managed properties reached 313,126 as of the end of FY2025 (ended June 2025), marking the highest level in the past five years. The structure in which stock-type revenue, such as commission income and cost reduction service income, accumulates steadily underpins this high profitability.
Nihon Shataku Service operates "Nihon Shataku Net," which has established franchise agreements with real estate companies nationwide. The nationwide infrastructure, combined with its company housing brokerage management system and operational systems, has been built up over more than 25 years since the company's founding in 1998, making it difficult for new entrants to replicate in a short period of time.
Operating profit in the Condominium Management Business was ¥350 million in FY2025 (ended June 2025) (up 140.9% year on year). Repair construction sales increased 111.9% year on year, while other income (including private unit services) surged 166.9% year on year, reflecting rapid expansion of ancillary revenue. The number of managed units also continued to increase, reaching 24,767 units (as of the end of June 2025), establishing a structure in which high value-added revenue is layered on top of the stock-type business foundation.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal years has remained in a range of ¥8,347 million to ¥8,697 million, with no major fluctuation. Operating profit, on the other hand, peaked at ¥882 million in FY2022, declined to ¥654 million in FY2024, and then turned to a recovery trend with ¥743 million in FY2025. In the cumulative nine months of Q3 FY2026 (ending June 2026), revenue reached ¥6,496 million (up 4.0% year-on-year) and operating profit reached ¥626 million (up 65.9% year-on-year), representing a substantial improvement. The main drivers were an increase in recurring stock revenue from the Company Housing Management Business and containment of selling, general and administrative expenses. In terms of the external environment, growing outsourcing demand due to labor shortages and increasing repair construction needs in condominium management have served as tailwinds. Full-year guidance has been revised to revenue of ¥8,900 million, operating profit of ¥760 million, and net profit of ¥570 million (up 148.4% year-on-year).
Growth Strategy
Aiming for net sales of ¥10,000 million, operating profit of ¥1,000 million, and ROE of 10% or higher in FY2028 (ending June 2028), centered on the themes of "recovery" and "investment"
The company aims to capture demand for system revision consultation, primarily from large corporations, and continuously build up new orders as well as additional orders from existing clients. For the cumulative nine months of FY2026 (ending June 2026), net sales reached ¥3,382 million (up 6.3% year on year) and operating profit reached ¥916 million (up 19.2% year on year), tracking above plan, confirming steady accumulation of recurring (stock) revenue.
The wholly owned subsidiary Taslink Co., Ltd. will take over the company housing administration outsourcing service business of Tokyo Tatemono Real Estate Sales Co., Ltd. through a company split (absorption-type). The effective date is scheduled for July 1, 2026. This is an external growth initiative directly linked to expanding the number of outsourced contracts and recurring (stock) revenue in the Company Housing Management Business, and it constitutes a key pillar for achieving the medium-term management plan targets.
The company aims to improve the profit margin of the Condominium Management Business by promoting price pass-through on management contract fees and reducing outsourcing costs. For the cumulative nine months of FY2026 (ending June 2026), segment profit reached ¥315 million (up 51.3% year on year), a substantial improvement, demonstrating that the effects of these measures are showing up in the numbers.
The company is focusing on developing the "Management Support Business," a support service for operators that manage housing. For the cumulative nine months of FY2026 (ending June 2026), net sales were ¥133 million (down 6.0% year on year) and operating loss was ¥20 million, with losses continuing; achieving profitability remains a challenge going forward.
As part of the "investment for the future" under the medium-term management plan, the company is promoting the rebuilding of the group's foundational systems. System development costs decreased in the cumulative nine months of FY2026 (ending June 2026), contributing to improved profit in the Company Housing Management Business. The aim is to improve operational efficiency and service quality over the medium to long term.
Last updated: July 17, 2026