Lead Real Estate (ADR)
Develops and sells urban residences, condominium projects, and extended-stay hotel properties.
Something off on this page? Send us feedback.
Profile
Sells luxury homes, condominium projects, and hotel properties after site-led development, with a smaller layer of hotel, leasing, brokerage, and property-management income. Most revenue comes from transactional real-estate sales, while founder control and project closings shape the business.
Develops and sells luxury single-family homes, whole condominium projects, and hotel properties under housing and urban-development lines including Excellence, More Excellence, EXCELSIOR, and Global Design. Development activity centers on Tokyo, Kanagawa, and Sapporo, with Japan the sole geographic reportable segment.
Operates a smaller recurring layer through ENT TERRACE apartment-style extended-stay hotels, JINRYU HOTEL long-stay lodging, residential leasing, brokerage, and property management; leasing also reaches Dallas. Site selection, planning, development, asset sales, and selected lease or management arrangements underpin the business.
Requires scarce land to be financed and acquired on commercially reasonable terms, while property and lodging operations remain subject to real-estate laws, permitting, site conditions, and disaster exposure. Founder Eiji Nagahara retains effective voting control, and whole-project closings can make revenue uneven.
Company facts
Key statistics
Year to date −26.3% · Average volume (30d) 8.2K
Analysts
No analyst consensus on record.
Earnings
Not reported.
Financial highlights
| 11 quarters | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $67.4M | $39.5M | $78.9M | $32.8M | $83.9M | $26.0M | |
| Gross profit | $10.7M | $6.2M | $11.7M | $3.9M | $18.3M | $2.7M | |
| Operating income | $4.1M | −$406.7K | $6.3M | −$3.9M | $12.6M | −$3.0M | |
| Net income | $2.5M | $421.0K | $3.5M | −$3.9M | $8.8M | −$2.9M | |
| Diluted EPS | $0.18 | $0.03 | $0.26 | −$0.29 | $0.65 | −$0.22 | |
| Gross margin | 15.8% | 15.8% | 14.8% | 11.9% | 21.9% | 10.6% | |
| Operating margin | 6.0% | -1.0% | 7.9% | -11.8% | 15.0% | -11.4% |
Revenue by product · FY25
Balance sheet, Dec 31, 2025Cash & short-term investments $6.4M · Total debt $112.5M · Total assets $158.2M · Shareholders' equity $27.9M
Dividends
Last raised to $0.0445 from $0.0164 in Jun 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2025 | Jun 30 | Oct 10 | $0.0445 | raised from $0.0164 |
| Jun 28, 2024 | Jun 28 | Oct 10 | $0.0164 |
Ownership
Shares outstanding 13.64M · Float 1.18M · 8.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Nagahara Eiji · director, 10 percent owner, officer: See remarks | 12.23M | 89.68% | Form 4 | Mar 18, 2026 |
| Smartharvest Portfolios, LLC | 34.3K | 0.25% | 13F | Apr 21, 2026 |
| Kenichi Homma · director | 9.1K | 0.07% | Form 4 | Mar 18, 2026 |
| Hidekazu Hamagishi · director | 4.5K | 0.03% | Form 4 | Mar 18, 2026 |
| Caitong International Asset Management Co., Ltd | 1 | 0.00% | 13F | May 11, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
Not reported.