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Overview

Real Estate

CREAL Inc.

CREAL Inc. operates an asset management platform business leveraging DX (Digital Transformation) to democratize real estate investment in Japan. The company's flagship service 'CREAL' is an online real estate fund marketplace enabling retail investors to invest from as little as JPY 10,000 in diversified properties including ESG real estate (e.g., nurseries) and residential assets. In addition, the company offers 'CREAL PRO' targeting institutional investors and ultra-high-net-worth individuals (minimum JPY 100 million), and 'CREAL PB' for affluent individual investors seeking direct real estate ownership primarily in the Tokyo metropolitan condominium market (minimum JPY 10 million).

Market Cap

¥15.3B

US$97.3M

¥11.6B

US$74.3M

Stock¥428▼-1.38%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

4.6

LTM EV/EBIT

4.7

LTM PER

9.7

LTM PBR

1.4

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-84.8%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

54%

46%

EquityD/E 0.85xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 72.2%

as of 2026-03-31 · Source: Annual Securities Report

SBI Holdings,Inc.

20.64%

Akinari TOKUYAMA (Standing Proxy: Mizuho Securities Co., Ltd.)

20.08%

JICVGI Opportunity Fund No. 1 Investment Limited Liability Partnership

7.42%

Daizo YOKOTA

5.50%

Yoshihiro KANEKO

4.42%

Kiyohito SAKURAI

4.29%

The Master Trust Bank of Japan, Ltd. (Trust Account)

3.11%

Custody Bank of Japan, Ltd. (Trust Account)

2.77%

Japan Securities Finance Co.,Ltd.

2.15%

Chuo-Nittochi Co., Ltd.

1.86%

Management

13 officers

Daizo YOKOTA

Representative Director, President

Jun 2000 Joined Andersen Consulting K.K. (currently Accenture Japan Ltd.) Sep 2005 Joined ORIX Corporation Dec 2007 Joined LaSalle Investment Management K.K. (currently LaSalle Real Estate Investment Advisors K.K.) Oct 2011 Joined Shinsei Bank, Limited (currently SBI Shinsei Bank, Limited) Apr 2014 Seconded to Japan Senior Living Partners Co., Ltd. (currently Kenedix Real Estate Investment Management Co., Ltd.); Head of Investment Management Department Apr 2017 Representative Director, President of the Company (current) May 2017 Director, Bridge-C Holdings Co., Ltd. Aug 2023 Representative Director, Real Estate Crowdfunding Association (General Incorporated Association) (current) Jul 2024 Representative Director, President, Clearal Hotels Co., Ltd. Feb 2025 Representative Director, Chairman, Usuki Securities Co., Ltd. (current)

1976-04-09

Yoshihiro KANEKO

Director, Vice President

Oct 2000 Joined Chuo Aoyama Audit Corporation Nov 2005 Joined PwC Transaction Services Co., Ltd. (currently PwC Advisory LLC) Dec 2014 Representative, Kaneko Certified Public Accountant Office Sep 2016 Director of the Company Mar 2017 Director, Vice President of the Company (current) May 2017 Director, Bridge-C Holdings Co., Ltd. Oct 2017 Representative Director, Bridge-C Holdings Co., Ltd. May 2018 Director, Audit and Supervisory Committee Member, Optimus Group Co., Ltd. Jun 2022 Director, Clearal Partners Co., Ltd. (current) Jun 2025 Director, Usuki Securities Co., Ltd. (current) Jul 2025 Director, Clearal Hotels Co., Ltd. (current)

1975-01-07

Tomoaki OTA

Director

May 2011 Joined Unitia Co., Ltd. Oct 2011 Joined I.M.J Corporation (currently Accenture Japan Ltd.) Feb 2015 Joined Recruit Technologies Co., Ltd. (currently Recruit Co., Ltd.) Jul 2018 Joined the Company Mar 2019 Director of the Company (current)

1987-07-14

Yusuke YAMANAKA

Director

Apr 2008 Joined Pacific Management Co., Ltd. Mar 2009 Transferred to Pacific Commercial Co., Ltd. Dec 2010 Transferred to Japan REIT Advisors Co., Ltd. Nov 2018 Joined the Company Jun 2020 Director of the Company (current)

1983-06-11

Akinari TOKUYAMA

Chairman of the Board, Director

Apr 2001 Joined Goldman Sachs Securities Co., Ltd. (currently Goldman Sachs Securities Co., Ltd.) Mar 2005 Joined Carlyle Japan LLC May 2011 Established the Company; Representative Director Jun 2012 Established Developer Group Pte Ltd; Director (current) Jul 2012 Retired as Director of the Company Jul 2012 Established BRIDGE-C HOLDINGS PTE. LTD.; Director (current) Jul 2019 Chairman of the Board, Director of the Company (current)

1978-03-15

Miyuki MURAKAMI

Director

Oct 2000 Joined Chuo Aoyama Audit Corporation Nov 2005 Joined PwC Transaction Services Co., Ltd. (currently PwC Advisory LLC) Nov 2006 Joined UBS Securities Co., Ltd. (currently UBS Securities Japan Co., Ltd.) Nov 2009 Joined KPMG Healthcare Japan Co., Ltd. Nov 2012 Joined Uzabase, Inc. Apr 2019 Representative Director, somebuddy Inc. (current) May 2019 Director of the Company (current) Jul 2019 Corporate Auditor, INCLUSIVE Inc. (currently INCLUSIVE Holdings Co., Ltd.) (current) Dec 2020 Director, Audit and Supervisory Committee Member, Euglena Co., Ltd. (current) Jun 2025 Director, Audit and Supervisory Committee Member, Lancers, Inc. (current)

1977-06-19

Kazunori HONDA

Full-time Corporate Auditor

Oct 2000 Joined Chuo Aoyama Audit Corporation Sep 2006 Joined Arata Audit Corporation (currently PwC Japan LLC) Oct 2007 Representative, Kazunori Honda Certified Public Accountant and Tax Accountant Office (current) Jun 2010 Joined Nakamoto International Accounting Office Jan 2019 Full-time Corporate Auditor of the Company (current) Jan 2019 Corporate Auditor, Bridge-C Estate Co., Ltd. (currently Clearal Partners Co., Ltd.) (current)

1975-09-27

Tomohiro SATO

Corporate Auditor

Oct 2002 Joined Asahi Koma Law Offices (currently Nishimura & Asahi Gaikokuho Kyodo Jigyo Law Office) Jan 2013 Partner, Nishimura & Asahi (current) Apr 2019 Corporate Auditor of the Company (current)

1978-02-12

Yasushi OKADA

Director

Apr 2009 Joined Nikko Citigroup Securities Ltd. (currently SMBC Nikko Securities Inc.) Jan 2014 Joined Morgan Stanley Business Group Co., Ltd. (seconded to Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Jan 2018 Joined Open House Co., Ltd. May 2018 Joined Kasumigaseki Capital Co., Ltd. Nov 2020 Director, Kasumigaseki Capital Co., Ltd. Feb 2022 Joined Nile Co., Ltd. Apr 2023 Joined Net Japan Co., Ltd. Feb 2025 Joined the Company; General Manager, Business Planning Department Jul 2025 Executive Officer, General Manager, Business Planning Division of the Company (current)

1983-04-16

Satoshi JOGATA

Director

Apr 1974 Joined The Mitsubishi Bank, Ltd. (currently MUFG Bank, Ltd.) May 1996 Branch Manager, Ichigaya Branch, The Mitsubishi Bank, Ltd. (currently MUFG Bank, Ltd.) Dec 1999 Seconded to Tokyo Mitsubishi Securities Co., Ltd. (currently Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.); Director Jun 2002 Branch Manager, Singapore Branch, The Tokyo-Mitsubishi Bank, Ltd. (currently MUFG Bank, Ltd.) May 2006 Executive Officer, Dentsu Technology Co., Ltd. (currently Dentsu Soken Inc.) Feb 2020 Director of the Company (current)

1951-08-20

Miyuki TANI

Director

Jul 2004 General Manager, UCJ Debt Collection Co., Ltd. Jan 2006 Representative Director, Vice President, Unified Capital Japan Co., Ltd. Nov 2008 Chief Financial Officer, Asia Pacific, Panorama Hospitality Co., Ltd. Nov 2011 Executive Director, Morgan Stanley Capital Co., Ltd. Oct 2015 Representative Director, President, Gran Hotel Operations Co., Ltd. Jun 2016 Corporate Auditor, M.S. Japan REIT Holdings Co., Ltd. Apr 2020 Director, Japan-U.S. Council Japan (public interest foundation) Apr 2024 Representative Director, Design 2 Think Co., Ltd. (current) Jun 2024 Representative Director, Peregrine Consulting Co., Ltd. (current) Jun 2024 Representative Director, ASA Platform Inc. (current) Jun 2024 Director of the Company (current) Feb 2026 Director, Audit and Supervisory Committee Member, Sara Corporation (current)

1967-11-04

Kiyoshi HIRONO

Corporate Auditor

Apr 1997 Joined Tohmatsu & Co. (currently Deloitte Touche Tohmatsu LLC) Oct 2001 Joined Gaga Communications, Inc. (currently Gaga Corporation) Feb 2005 Representative, Hirono Certified Public Accountant Office (current) Apr 2007 Representative Director, Widebrain Inc. (current) Jan 2016 Corporate Auditor, Creators Match Inc. (current) Jun 2018 Corporate Auditor, Selm Inc. (currently Director, Audit and Supervisory Committee Member) (current) Feb 2020 Corporate Auditor of the Company (current)

1974-07-19

Hanae KANZAKI

Corporate Auditor

Apr 2015 Joined Japan Airlines Co., Ltd. Jan 2022 Resigned from the same company Feb 2022 Joined Atsumi & Sakai Law Offices (current) Jun 2026 Corporate Auditor of the Company

1990-02-02

Large Shareholding Reports

Daizo Yokota

2026-07-31

7.91%→5.50%

Annual report (as of 2026-03-31): 5.50%

Yoshihiro KANEKO

2026-05-29

5.52%→3.66%

Annual report (as of 2026-03-31): 4.42%

Asset Management One Co., Ltd.

2026-05-12

6.31%→4.32%

Asset Management One Co., Ltd.

2026-02-06

7.24%→6.31%

JIC Venture Growth Investments, Ltd.

2025-12-26

7.43%

Asset Management One Co., Ltd.

2025-09-05

5.80%→7.24%

Akinari TOKUYAMA

2025-08-25

25.04%→24.01%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-14

Q1 Earnings Flash

FY ending Mar 2027

CREAL Inc.

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CREAL Inc.

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