Overview
Real Estate

A.D.Works Group Co.,Ltd.

AD Works Group operates two core businesses: (1) income-producing real estate sales, which involves sourcing whole-building properties through proprietary channels, executing value-add improvements such as renovation, tenant replacement, and use conversion, and selling to high-net-worth individuals, corporate investors, and institutional buyers via fractional real estate products (minimum JPY 5 million) and floor-by-floor office unit products; and (2) a stock-type fee business, comprising property management, rental income from owned assets, asset management consulting, real estate appraisal, and due diligence services. The group operates both domestically in Japan and in the United States, leveraging its proven domestic business model to expand its income-producing real estate portfolio internationally.

Market Cap
¥19.4B
US$123M
EV
¥68.0B
US$434M
Stock¥391▲+0.51%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
14.2
x
LTM EV/EBIT
15.0
x
LTM PER
4.8
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-35.6%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 17, 25Disappointing Q2 earnings
2Dec 19, 25Profit-taking selling
MC → EV Bridge
19.4BUS$123MMarket Cap58.8BUS$375M+ Debt9.74BUS$62.1M− Cash0.42BUS$2.66M− Inv. Sec.68.0BUS$434MEV
AI Briefing
Generating insights…
Performance & Balance
Revenue 5Y (¥B)
25.0US$159M'21/1227.9US$178M'22/1241.3US$264M'23/1249.9US$318M'24/1267.5US$431M'25/12
EBITDA 5Y (¥B)
1.04US$6.65M'21/121.49US$9.53M'22/122.57US$16.4M'23/123.38US$21.5M'24/125.19US$33.1M'25/12
Net Income 5Y (¥B)
0.31US$1.99M'21/120.53US$3.36M'22/121.42US$9.05M'23/121.61US$10.3M'24/123.32US$21.1M'25/12
Capital Structure
28%
72%
EquityD/E 2.63xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
8.80US$56.1M23.1US$147M'21/128.20US$52.3M32.5US$207M'22/1210.5US$66.8M34.8US$222M'23/1210.6US$67.7M35.7US$227M'24/1212.4US$79.1M45.8US$292M'25/12
Shareholders
Top 10 hold 33.3%
1
Hideo TANAKA
10.80%
2
MURAKAMI TAKATERU (Standing Proxy: Mita Securities Co., Ltd.)
8.83%
3
Liberty House Ltd.
3.94%
4
MI2 Co., Ltd.
2.61%
5
Tachibana Securities Co., Ltd.
1.70%
6
BOFAS INC SEGREGATION ACCOUNT (Standing Proxy: BofA Securities Japan Co., Ltd.)
1.59%
7
Nihon Master Trust Bank, Ltd. (Officer Stock Compensation Trust Account No. 76735)
1.13%
8
JP MORGAN CHASE BANK 380802 (Standing Proxy: Mizuho Bank, Ltd.)
1.00%
9
UBS AG LONDON ASIA EQUITIES (Standing Proxy: Citibank, N.A., Tokyo Branch)
0.83%
10
Kazufumi IMAI
0.82%
Management
10 officers
Hideo TANAKA
Representative Director, President and CEO
Apr 1973 Joined Seibu Fudosan Co., Ltd. Jul 1991 Opened Tanaka Fudosan Office Oct 1992 Joined House Port Seiyo Co., Ltd. (now Mizuho Real Estate Sales Co., Ltd.) Mar 1993 Director, Aoki Dyeing Works Co., Ltd. (now A.D. Works Co., Ltd.) Feb 1995 Representative Director, President, A.D. Works Co., Ltd. Feb 2011 Representative Director, President, A.D. Remodeling Co., Ltd. (now A.D. Partners Co., Ltd.) Jun 2011 Representative Director, Chairman and President, A.D. Estate Co., Ltd. (now Sumikawa ADD Co., Ltd.) May 2013 Representative Director, Chairman, A.D. Remodeling Co., Ltd. (now A.D. Partners Co., Ltd.) May 2013 Representative Director, President, A.D. Estate Co., Ltd. (now Sumikawa ADD Co., Ltd.) Oct 2013 President and CEO, ADW Management USA, Inc. Feb 2015 President, A.D. Works USA, Inc. Jan 2016 Director and Chairman, A.D. Works USA, Inc. Jan 2016 Director and Chairman, ADW Management USA, Inc. Feb 2017 Representative Director, Chairman, A.D. Design Build Co., Ltd. (now Sumikawa ADD Co., Ltd.) Apr 2020 Representative Director, President and CEO, the Company (current) Jan 2024 Representative Director, Chairman, A.D. Works Co., Ltd. (current)
1950-02-07
Toshiya SUZUKI
Senior Managing Director
Apr 1989 Joined Recruit Cosmos Co., Ltd. (now Cosmos Initia Co., Ltd.) Jan 2008 General Manager, Corporate Sales Department, AM Business Division, Cosmos Initia Nov 2009 General Manager, Brokerage Business Division, Cosmos Initia Oct 2013 General Manager, Solutions Business Division and General Manager, Investment Real Estate Planning and Development Department, Cosmos Initia Oct 2014 General Manager, Ownership Department, Leasing Business Division, Cosmos Initia Oct 2015 Executive Officer, General Manager, Business Planning Office, A.D. Works Co., Ltd. Jun 2018 Director, Executive Officer, General Manager, Business Planning Division, A.D. Works Apr 2019 Director, Executive Officer, General Manager, Investment Real Estate Business Division, A.D. Works Jun 2019 Director, Senior Executive Officer, General Manager, Investment Real Estate Business Division, A.D. Works Apr 2020 Director, Senior Executive Officer, General Manager, Investment Real Estate Business Division, A.D. Works; Director, Senior Executive Officer, the Company Jan 2021 Director, the Company Jan 2021 Director, Managing Executive Officer, General Manager, Investment Real Estate Business Division, A.D. Works Sep 2021 Director, JMR Asset Management Co., Ltd. (current) Mar 2023 Senior Managing Director, the Company (current) Mar 2023 Director, Senior Managing Executive Officer, General Manager, Investment Real Estate Business Division, A.D. Works; Director, A.D. Partners Co., Ltd. Jan 2024 Representative Director, President, A.D. Works Co., Ltd. (current) Mar 2025 Representative Director, Chairman, A.D. Partners Co., Ltd. (current) Jan 2026 Director and Chairman, A.D. Works USA, Inc. (current) Jan 2026 Director and Chairman, ADW Management USA, Inc. (current)
1964-11-09
Hideo GOTO
Senior Managing Director and CFO
Apr 1987 Joined Sumitomo Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Apr 2015 Executive Officer, General Manager, Investment Banking Division, Sumitomo Mitsui Banking Corporation Apr 2017 Executive Officer, General Manager, Wholesale Planning Department, Sumitomo Mitsui Financial Group, Inc. Apr 2018 Managing Executive Officer, SMBC Trust Bank Ltd. Dec 2019 Director and Managing Executive Officer, SMBC Trust Bank Ltd.; Managing Executive Officer, Sumitomo Mitsui Financial Group, Inc. Jun 2021 Outside Director (Audit and Supervisory Committee Member), SMBC Nikko Securities Inc. Mar 2024 Outside Director, Tachikawa Blind Manufacturing Co., Ltd. (current) Mar 2025 Senior Managing Director and CFO, the Company (current) Mar 2025 Representative Director, Chairman, Angel Torch Co., Ltd. (current) Jan 2026 Director and Senior Executive Officer, A.D. Works Co., Ltd. (current) Jan 2026 Representative Director, President, JMR Asset Management Co., Ltd. (current)
1963-05-30
Haruyasu YAMASHITA
Director
Apr 1989 Joined Sumitomo Realty & Development Co., Ltd. Oct 2001 Joined Japan GMAC Commercial Mortgage K.K. Jul 2005 Executive Director, Lending Division, Unified Partners Co., Ltd. Jun 2010 Business Development Executive, AMP Capital Investors Japan K.K. Jan 2013 Director, Real Estate Finance Department, Tokyo Star Bank, Limited Aug 2016 Finance & Accounting Director, A.D. Works Co., Ltd. Apr 2020 Group Managing Officer, Finance Department, the Company Mar 2021 Executive Officer, General Manager, Finance Department, the Company Mar 2024 Director, the Company (current) Mar 2024 Director, Managing Executive Officer, A.D. Works Co., Ltd. Jan 2026 Director, Senior Executive Officer, A.D. Works Co., Ltd. (current)
1967-01-03
Taizo MUROTANI
Director
Apr 2002 Joined NTT Facilities, Inc. Aug 2005 Joined SBI Partners Co., Ltd. Mar 2006 Joined SBI Holdings, Inc. Jan 2017 Joined A.D. Works Co., Ltd. Oct 2017 General Manager, Arisuto Business Department, Business Planning Division, A.D. Works Apr 2019 General Manager, Asset Management Department, Investment Real Estate Business Division, A.D. Works Apr 2020 Executive Officer, Deputy General Manager, Investment Real Estate Business Division, A.D. Works Jan 2021 Director, Executive Officer, General Manager, Asset Management Business Division, A.D. Works Mar 2024 Director, the Company (current) Jan 2025 Director, Managing Executive Officer, A.D. Works Co., Ltd. Jan 2026 Director, Senior Executive Officer, A.D. Works Co., Ltd. (current)
1976-07-04
Naoya ISHIDA
Director
Apr 1985 Joined Sumitomo Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Apr 2008 General Manager, Dojima Corporate Sales Department II, Sumitomo Mitsui Banking Corporation Oct 2010 General Manager, Corporate Business Planning Department, Sumitomo Mitsui Banking Corporation Apr 2012 General Manager, Tokyo Central Corporate Sales Department II, Sumitomo Mitsui Banking Corporation Oct 2013 Managing Director, SMBC Trust Bank Ltd. Apr 2016 Senior Managing Director and Senior Managing Executive Officer, SMBC Trust Bank Ltd. Apr 2017 Managing Executive Officer, Sumitomo Mitsui Financial Group, Inc. Apr 2024 Advisor, SMBC Trust Bank Ltd. Jul 2025 Advisor, the Company Mar 2026 Director, the Company (current)
1962-07-14
Hisashi TANAAMI
Director, Audit and Supervisory Committee Member
Apr 1978 Joined Chiyoda Life Insurance Company (now Gibraltar Life Insurance Co., Ltd.) Feb 2001 Joined Matsui Securities Co., Ltd. Jun 2002 Director, Matsui Securities Co., Ltd. Feb 2004 Managing Director, Matsui Securities Co., Ltd. Jun 2005 Corporate Auditor, Monex Beans Securities Co., Ltd. (now Monex Securities Co., Ltd.); Full-time Corporate Auditor, Monex Beans Holdings, Inc. (now Monex Group, Inc.) Jun 2007 Director, Monex Securities Co., Ltd.; Director, Monex Group, Inc. Apr 2008 Part-time Lecturer, Hosei University Feb 2011 Representative Director and Vice President, Monex Securities Co., Ltd. Jun 2013 Executive Officer, Monex Group, Inc. Apr 2017 Director and Vice Chairman, Monex Securities Co., Ltd. Dec 2019 Corporate Auditor, Catalyst Investment Advisors Co., Ltd. (current) Jan 2020 Outside Director (Audit and Supervisory Committee Member), Tobila Systems Inc. (current) Apr 2020 Outside Director (Audit and Supervisory Committee Member), the Company (current) Jun 2021 Part-time Director, International Human Resources Development Organization (current) Jun 2023 Corporate Auditor, Monex Asset Management Co., Ltd. (current)
1954-09-11
Sachiko AWAI
Director, Audit and Supervisory Committee Member
Jul 1984 Joined U.S. Meat Export Federation, Japan Office Jan 1991 Joined Estee Lauder K.K. (now ELC Japan K.K.) Mar 1997 Joined L'Oreal Japan K.K. Nov 2004 Joined Guerlain K.K. (LVJ Group) May 2012 Joined fitfit Co., Ltd. May 2013 Representative Director, President, La Prairie Japan K.K. Jan 2019 General Manager, INCOCO Business Division, Newport Co., Ltd.; Part-time Advisor, Natural Water Business Division, Harves Co., Ltd. Jun 2019 Outside Director (Audit and Supervisory Committee Member), A.D. Works Co., Ltd. Apr 2020 Outside Director (Audit and Supervisory Committee Member), the Company (current) Jun 2020 Outside Director, Infocom Corporation Mar 2022 Outside Director (Audit and Supervisory Committee Member), BP Castrol K.K. (current) Jun 2023 Outside Director, H.U. Group Holdings, Inc. (current)
1957-05-21
Hiroyuki SOMEKAWA
Director, Audit and Supervisory Committee Member
Apr 1981 Joined Asahi Mutual Life Insurance Company Apr 1992 Assistant Manager, Real Estate General Affairs Section, Real Estate Department, Asahi Mutual Life Insurance Company Apr 1995 Counselor, Business Promotion Office, Operations Department, Asahi Mutual Life Insurance Company Apr 1996 Head, Secretarial Office, Secretariat Department, Asahi Mutual Life Insurance Company Apr 2009 Deputy General Manager in charge of Personnel, General Affairs and Human Resources Division, Asahi Mutual Life Insurance Company Apr 2012 General Manager, Internal Audit Department, Asahi Mutual Life Insurance Company Jul 2015 Full-time Corporate Auditor, Asahi Mutual Life Insurance Company Jan 2022 Corporate Auditor, A.D. Works Co., Ltd. (current) Mar 2024 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1958-07-29
Sawako UENO
Director, Audit and Supervisory Committee Member
Apr 1988 Joined Dai-Ichi Kangyo Bank, Ltd. (now Mizuho Bank, Ltd.) Oct 1996 Joined Ota Showa & Co. (now EY ShinNihon LLC) Oct 2008 Partner, Ota Showa & Co. Sep 2017 Joined Deloitte Tohmatsu LLC; Partner Sep 2020 Director, Deloitte Tohmatsu LLC Jan 2021 Senior Securities Inspector, Securities Transaction Surveillance Division, Securities and Exchange Surveillance Commission, Financial Services Agency Apr 2023 Established Sawako Ueno Certified Public Accountant Office; Head Jun 2023 Outside Corporate Auditor, Morinaga & Co., Ltd. (current) Jun 2023 Outside Corporate Auditor, Airport Facilities Co., Ltd. (current) Mar 2024 Outside Director (Audit Committee Member), Sumida Corporation (current) Nov 2025 Representative Director, Japan Integrity Co., Ltd. (current) Mar 2026 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1964-08-12
Large Shareholding Reports
Takaki Murakami
2026-09-08
9.18%→9.51%
Taketeru MURAKAMI
2026-07-10
8.17%→9.18%
Taketeru MURAKAMI
2026-06-10
7.23%→8.17%
Taketeru MURAKAMI
2026-05-27
6.50%→7.23%
Taketeru MURAKAMI
2026-05-25
6.05%→6.50%
Taketeru MURAKAMI
2026-05-22
4.67%→6.05%
Taketeru MURAKAMI
2026-05-20
4.67%
Hideo TANAKA
2025-12-26
10.44%→10.66%
Annual report (as of 2026-06-30): 10.80%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-08
Large Shareholding Report
TDnet
2026-08-06
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-08-06
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
EDINET
2026-07-10
Large Shareholding Report
EDINET
2026-06-10
Large Shareholding Report
EDINET
2026-05-27
Large Shareholding Report
EDINET
2026-05-25
Large Shareholding Report
EDINET
2026-05-22
Large Shareholding Report
EDINET
2026-05-20
Large Shareholding Report
TDnet
2026-05-14
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-19
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2025-12-26
Large Shareholding Report
TDnet
2025-11-13
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-07
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-14
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-26
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-08
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-03-27
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-09
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-28
Annual Securities Report
Period: Jan 2022 – Dec 2022
EDINET
2022-11-10
Quarterly Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-03-25
Annual Securities Report
EDINETAmended
2021-11-26
Amended Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
Ask AI
I have this company's financials, ownership, and management on hand. Ask me anything from an M&A perspective.
End of Preview

Try the full product

Free demo (no time limit, up to 10 companies). Explore Comps, DCF, LBO, WACC on every screen. Excel export is on the paid plan.

Free Demo (No Time Limit, 10 Companies) →