Overview
Real Estate

KOSE R.E. Co.,Ltd.

Kosei Real Estate Co., Ltd. is a Fukuoka-based condominium developer and real estate company engaged in the planning, development, and sale of its flagship 'Gran Fore' series of high-quality condominiums. The company operates across two primary sales segments: family condominiums targeting the Fukuoka metropolitan area, the Tokyo metropolitan area, and major cities in Kyushu, and investment-type condominiums targeting high-rental-demand areas in central Fukuoka. Complementary businesses include rental property management services for previously sold investment condominiums and building maintenance services provided through its subsidiary, R Maintenance Co., Ltd.

Market Cap
¥6.98B
US$44.5M
EV
¥12.5B
US$79.8M
Stock¥687▼-0.87%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
16.4
x
LTM EV/EBIT
17.7
x
LTM PER
10.6
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-23.2%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
6.98BUS$44.5MMarket Cap7.80BUS$49.7M+ Debt2.26BUS$14.4M− Cash0.00BUS$0.00M− Inv. Sec.12.5BUS$79.8MEV
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Performance & Balance
Revenue 5Y (¥B)
11.3US$72.0M'22/111.0US$70.1M'23/110.2US$64.8M'24/17.65US$48.8M'25/110.0US$64.1M'26/1
EBITDA 5Y (¥B)
1.18US$7.53M'22/11.65US$10.5M'23/11.64US$10.4M'24/10.35US$2.26M'25/10.80US$5.12M'26/1
Net Income 5Y (¥B)
0.88US$5.61M'22/11.26US$8.03M'23/11.26US$8.05M'24/10.34US$2.17M'25/10.70US$4.43M'26/1
Capital Structure
57%
43%
EquityD/E 0.75xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
6.52US$41.6M7.33US$46.7M'22/16.18US$39.4M4.31US$27.5M'23/15.64US$36.0M3.03US$19.3M'24/15.35US$34.1M5.15US$32.9M'25/14.88US$31.1M7.27US$46.4M'26/1
Shareholders
Top 10 hold 53.9%
1
Toshikazu MOROFUJI
24.65%
2
TMI Trust Co., Ltd.
20.68%
3
Grand Forre Association
2.89%
4
Gojinsha Keikaku Kenkyusho Co., Ltd.
1.18%
5
Asahi Komuten Co., Ltd.
0.95%
6
KOSE R.E. Co.,Ltd. Officers' Stock Ownership Association
0.88%
7
Kyushu Kensetsu Co., Ltd.
0.79%
8
Sanko Co., Ltd.
0.63%
9
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN (CASHPB; Standing Proxy: Nomura Securities Co., Ltd.)
0.63%
10
Well Holdings Co., Ltd.
0.59%
Management
8 officers
Toshikazu MOROFUJI
Director, President (Representative Director)
Jun 1980 Joined Daia Kensetsu Co., Ltd. Jan 1982 Joined Sumai Co., Ltd. Sep 1985 Director, Sumai Co., Ltd. Sep 1987 Senior Managing Director, Sumai Co., Ltd. Aug 1992 Representative Director, President, the Company (current) Apr 2010 Chairman, Kyushu Housing Industry Association (formerly Kyushu Housing Construction Industry Association, incorporated association) Feb 2018 Director, General Manager, Business Division, the Company
1955-06-24
Ken YAMAMOTO
Senior Managing Director, Head of Sales Division and General Manager, Asset Management Sales Department
Apr 1989 Joined Dyna Co., Ltd. Aug 1996 Representative Director, President, Clover Home Co., Ltd. Aug 2003 Joined the Company Apr 2011 General Manager, Sales Department, the Company Apr 2012 Director, General Manager, Asset Management Sales Department, the Company Apr 2019 Managing Director, General Manager, Asset Management Sales Department, the Company Feb 2021 Managing Director, General Manager, Residential Sales Department, the Company Feb 2023 Senior Managing Director, Head of Sales Division and General Manager, Asset Management Sales Department, the Company (current)
1961-10-04
Takayuki NISHIKAWA
Director, General Manager, Residential Sales Department
Jul 1990 Joined Sumai Co., Ltd. Apr 1999 Joined the Company Apr 2011 Deputy General Manager, Sales Department, the Company (in charge of family condominiums) Apr 2012 Director, General Manager, Residential Sales Department, the Company Apr 2019 Managing Director, General Manager, Residential Sales Department, the Company Feb 2021 Managing Director, General Manager, Asset Management Sales Department, the Company Feb 2023 Director, General Manager, Residential Sales Department, the Company (current) Apr 2026 Managing Director, General Manager, Residential Sales Department, the Company (scheduled)
1969-01-06
Masatake KOKUBU
Director, General Manager, Business Division
Apr 1988 Joined Jusou Co., Ltd. Nov 1996 Joined Daia Kensetsu Co., Ltd. Feb 2006 Joined the Company Feb 2013 Deputy General Manager, Business Division, the Company Apr 2015 Director, General Manager, Business Division, the Company Feb 2018 Director, General Manager, Administration Department, the Company Feb 2019 Director, General Manager, Business Division, the Company (current) Apr 2026 Managing Director, General Manager, Business Division, the Company (scheduled)
1965-06-26
Kazuhito DOBASHI
Director, General Manager, Administration Department
Apr 1986 Joined The Fukuoka Bank, Ltd. Apr 2018 Deputy General Manager, Administration Department, the Company (seconded) Feb 2019 General Manager, Administration Department, the Company (seconded) Apr 2019 Joined the Company Apr 2019 Director, General Manager, Administration Department, the Company (current) Apr 2026 Managing Director, General Manager, Administration Department, the Company (scheduled)
1963-06-27
Morio IDE
Director (Audit and Supervisory Committee Member)
Oct 1979 Joined Tohmatsu Audit Corporation Aug 2006 Joined Sanwa Tax Accountant Corporation Nov 2006 Senior Partner (Representative Member), Sanwa Tax Accountant Corporation (current) Apr 2007 Audit & Supervisory Board Member, the Company Apr 2015 Full-time Audit & Supervisory Board Member, the Company May 2015 Director (Audit and Supervisory Committee Member), the Company (current)
1950-05-22
Kenji YANAGISAWA
Director (Audit and Supervisory Committee Member)
Apr 1996 Registered with the Fukuoka Bar Association Apr 1996 Affiliated with Harukawa Law Office May 2002 Representative, Yanagisawa Law Office (current) Apr 2015 Audit & Supervisory Board Member, the Company May 2015 Director (Audit and Supervisory Committee Member), the Company (current)
1971-06-10
Yasuro MORIKAWA
Director (Audit and Supervisory Committee Member)
Apr 1981 Joined The Fukuoka Bank, Ltd. Apr 2010 Executive Officer, General Manager, Management Planning Department, The Fukuoka Bank Jul 2011 Executive Officer, General Manager, Management Planning Department and General Manager, Quality Control Division, The Fukuoka Bank Apr 2012 Director, Managing Executive Officer, The Fukuoka Bank Apr 2012 Executive Officer, Fukuoka Financial Group, Inc. Jun 2014 Director, Executive Officer, Fukuoka Financial Group, Inc. Apr 2016 Director, Senior Managing Executive Officer, The Fukuoka Bank Apr 2017 Deputy President, Director, Shinwa Bank, Ltd. Apr 2019 Representative Director, Deputy President, The Fukuoka Bank Apr 2019 Non-executive Director, Shinwa Bank, Ltd. Oct 2020 Non-executive Director, Juhachi Shinwa Bank, Ltd. Apr 2021 Advisor, The Fukuoka Bank (current) Apr 2021 Director (Audit and Supervisory Committee Member), the Company (current) Nov 2021 Director (Audit and Supervisory Committee Member), Minna no Ginko Co., Ltd.
1958-02-04
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-11
Semi-Annual Securities Report
Period: Feb 2026 – Jan 2027
TDnet
2026-09-10
Q2 Earnings Flash
FY ending Jan 2027
TDnet
2026-06-08
Q1 Earnings Flash
FY ending Jan 2027
EDINET
2026-04-09
Annual Securities Report
Period: Feb 2025 – Jan 2026
TDnet
2025-12-08
Q3 Earnings Flash
FY ending Jan 2026
EDINET
2025-09-09
Semi-Annual Securities Report
Period: Feb 2025 – Jan 2026
TDnet
2025-06-09
Q1 Earnings Flash
FY ending Jan 2026
EDINET
2025-04-25
Annual Securities Report
Period: Feb 2024 – Jan 2025
TDnet
2024-12-09
Q3 Earnings Flash
FY ending Jan 2025
EDINET
2024-09-13
Semi-Annual Securities Report
Period: Feb 2024 – Jan 2025
EDINET
2024-06-11
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
TDnet
2024-06-10
Q1 Earnings Flash
FY ending Jan 2025
EDINET
2024-04-26
Annual Securities Report
Period: Feb 2023 – Jan 2024
EDINET
2023-12-12
Quarterly Securities Report
Period: Aug 2023 – Oct 2023
EDINET
2023-09-12
Quarterly Securities Report
Period: May 2023 – Jul 2023
EDINET
2023-06-12
Quarterly Securities Report
Period: Feb 2023 – Apr 2023
EDINET
2023-04-28
Annual Securities Report
Period: Feb 2022 – Jan 2023
EDINET
2022-12-12
Quarterly Securities Report
EDINET
2022-09-12
Quarterly Securities Report
EDINET
2022-06-10
Quarterly Securities Report
EDINET
2022-04-28
Annual Securities Report
EDINET
2021-12-10
Quarterly Securities Report
EDINET
2021-09-10
Quarterly Securities Report
EDINET
2021-06-10
Quarterly Securities Report
EDINET
2021-04-28
Annual Securities Report
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