HouseFreedom Co.,Ltd.
8996・Standard Market・Real Estate
Business
House Freedom Co., Ltd. is a comprehensive housing services company founded in 1995. It operates five businesses—real estate brokerage, new detached house development, construction contracting, non-life insurance agency, and real estate leasing—with 25 group-wide locations across the Kansai, Kyushu, Chubu, and Okinawa areas. Its primary customers are individual home buyers, mainly first-time home purchasers. The company has three wholly owned subsidiaries—Refosta Co., Ltd., City Home Co., Ltd., and Idem Home Co., Ltd.—each responsible for businesses tailored to regional characteristics. It listed on the Tokyo Stock Exchange Standard Market in December 2022.
Business Model
The core Real Estate Brokerage Business collects customer and property information through community-focused sales within a roughly 2.5km radius of each store, creating a synergistic structure that refers customers to the New Detached House Development Business, Construction Contracting Business, Real Estate Leasing Business, and Non-Life Insurance Agency Business. Funds for acquiring subdivision land are mainly raised through financial institution borrowings, and sales of income properties such as In-House Developed Wooden Apartments contribute to profit as a stock-type business. The company positions the ordinary profit margin on net sales as a key management indicator and is working to improve the profitability of each business.
Company Strengths
The Company operates five businesses—Real Estate Brokerage, New Detached House Development, Construction Contracting, Non-Life Insurance Agency, and Real Estate Leasing—in an integrated manner, capturing customer needs across the spectrum from home acquisition to insurance, renovation, and leasing. In FY2025 (ending December 2025), all five segments achieved revenue growth, and consolidated group sales expanded to ¥16,928 million (up 16.8% year on year).
The Real Estate Leasing Business recorded sales of ¥4,052 million (up 35.8% year on year) and segment profit of ¥887 million (profit margin of 21.9%), boasting the highest profitability of all segments. Since the full-scale launch of income property sales in 2022, the Company has continuously expanded the number of In-House Developed Wooden Apartments sold, sustaining stable profit contribution.
The Company operates 25 locations across the Kansai, Kyushu, Chubu, and Okinawa areas. In the New Detached House Development Business, newly expanding areas grew rapidly, with the Aichi area recording +20 units sold year on year (sales up 138.9%) and Hyogo Prefecture recording +15 units year on year (sales up 1,208.1%). The Company is expanding its business scale while diversifying away from dependence on specific regions.
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive fiscal years, rising from ¥11,796 million in FY2021 to ¥16,928 million in FY2025, marking a new record high. In Q1 of FY2026 (ending December 2026), revenue declined to ¥2,741 million (down 12.8% year on year), turning to a decrease, mainly due to a decline in the number of units sold in the Kansai area within the Real Estate Subdivision Sales Business. On the other hand, with the disappearance of one-time operating costs incurred in the same period of the previous year, earnings improved substantially, turning profitable with operating profit of ¥94 million, ordinary profit of ¥53 million, and quarterly net profit of ¥31 million. Regarding the market environment, continued low mortgage interest rates are supporting real estate demand, while rising land prices and construction costs are weighing on demand for detached houses. The full-year forecast remains unchanged at revenue of ¥18,000 million (up 6.3% year on year) and operating profit of ¥1,200 million (up 7.7% year on year).
Growth Strategy
Maximizing synergies across five business segments and actively acquiring land and expanding bases in areas with significant growth potential
Recovery of the number of units sold in the Kansai area (Osaka Prefecture and Hyogo Prefecture) is treated as the top priority, with continued active land acquisition in areas with significant growth potential. In the first quarter of FY2026 (ending December 2026), net sales decreased year on year due to a decline in the number of units sold, but segment profit turned positive, indicating improved profitability.
Strengthening the stock-type earnings base through an increase in the number of In-House Developed Wooden Apartments sold. In the first quarter of FY2026 (ending December 2026), sales progressed largely as planned, securing segment net sales of ¥271 million and a profit margin of 24.3%. Real estate for sale in progress increased by ¥653 million compared to the end of the previous fiscal year, reflecting ongoing inventory build-up for future sales.
Building a business portfolio that captures customers' housing needs over their lifetime by strengthening collaboration among the five business segments: Real Estate Brokerage, Real Estate Sales, Real Estate Leasing, Construction Contracting, and Others. In the first quarter of FY2026 (ending December 2026), the Real Estate Brokerage Business performed steadily, contributing to the improvement of the group's overall profit and loss. Segment names were changed to "Real Estate Sales Business" and "Other Business," as part of the reorganization of the business portfolio.
Last updated: July 17, 2026