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Overview

Real Estate

The Global Ltd.

THE Global Ltd. is a Tokyo-based diversified real estate company, primarily operating in the Greater Tokyo metropolitan area, with a focus on condominium development and sales under its proprietary 'WillRose' brand series. The company's business spans five key segments: condominium development and sales, income-producing property development, third-party sales agency services, building management, and hotel development and operation (primarily in Kyoto targeting inbound demand). The group leverages integrated capabilities across land acquisition, planning, design, construction management, sales, and property management, with SBI Holdings, Inc. as its parent company.

Market Cap

¥35.9B

US$229M

¥63.6B

US$405M

Stock¥1,270▼-0.08%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

13.5

LTM EV/EBIT

13.7

LTM PER

12.1

LTM PBR

3.4

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+0.7%pt

Oct 23, 25 – Jul 27, 26StockTOPIX

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

22%

78%

EquityD/E 3.53xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 84.0%

as of 2025-12-31 · Source: Annual Securities Report

SBI Holdings,Inc.

51.95%

Japan Securities Finance Co.,Ltd.

11.42%

Asahi Kasei Homes Corporation

9.88%

SCBHK AC EFG BANK AG (Standing Proxy: MUFG Bank, Ltd.)

3.64%

Tachibana Securities Co., Ltd.

3.15%

MATSUI SECURITIES CO.,LTD.

1.43%

LGT BANK LTD (Standing Proxy: MUFG Bank, Ltd.)

0.69%

MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)

0.68%

Central Tanshi Co., Ltd.

0.62%

Nobutatsu TAKEI

0.55%

Management

7 officers

Keiji OKADA

Representative Director, President and Executive Officer

Apr 1998 Joined Kondo Sangyo Co., Ltd. Jul 2008 Joined Toshiken Corporation Jan 2012 Joined Global Elseed Co., Ltd. Oct 2015 General Manager, Development Business Division, Global Elseed Sep 2016 Director, General Manager, Development Business Division, Global Elseed May 2021 Director and Senior Managing Director, Global Elseed Aug 2021 Representative Director and President, Global Elseed Sep 2021 Director, the Company Sep 2023 Representative Director and President, the Company Oct 2023 Representative Director, President and Executive Officer, the Company (current) Sep 2024 Director, Global Jyuhan Co., Ltd. (current) Sep 2024 Director, Global Heart Co., Ltd. (current)

1975-12-15

Norio YAMANA

Director, Executive Officer

Apr 1991 Joined Sanwa Bank, Ltd. (currently MUFG Bank, Ltd.) Apr 2005 Joined ITX Co., Ltd. Jul 2008 General Manager, Planning Department, ITX Feb 2014 Joined Tsutsui Co., Ltd., General Manager, Management Planning Department Mar 2015 Joined ITX Co., Ltd., General Manager, Finance Department Jul 2017 Joined SBC Medical Group, General Manager, Financial Strategy Office Jan 2021 Joined the Company Aug 2021 General Manager, Administration Department, the Company Sep 2021 Director, General Manager, Administration Department, the Company Sep 2022 Audit & Supervisory Board Member, Global Elseed Sep 2022 Audit & Supervisory Board Member, Global Cast Co., Ltd. Sep 2022 Audit & Supervisory Board Member, Global Jyuhan Co., Ltd. (current) Sep 2022 Audit & Supervisory Board Member, Global Heart Co., Ltd. Sep 2022 Audit & Supervisory Board Member, Global Hotel Partners Co., Ltd. Sep 2023 Director, Global Heart Co., Ltd. (current) Oct 2023 Director, Executive Officer, General Manager, Management Division, the Company (current)

1967-11-13

Masato TAKAMURA

Director

Apr 1992 Joined Sanwa Bank, Ltd. (currently MUFG Bank, Ltd.) Mar 2005 Joined E*TRADE Securities Co., Ltd. (currently SBI Securities Co., Ltd.) Oct 2005 General Manager, Corporate Department, E*TRADE Securities Mar 2006 Executive Officer, General Manager, Corporate Department, E*TRADE Securities Jun 2007 Director, Executive Officer, in charge of Corporate Department, SBI E*TRADE Securities Co., Ltd. Apr 2012 Managing Director, in charge of Corporate Department, SBI Securities Co., Ltd. Mar 2013 Representative Director and President, SBI Securities Co., Ltd. (current) Jun 2013 Director, SBI Holdings, Inc. Jun 2016 Director, Senior Managing Executive Officer, SBI Holdings, Inc. Jun 2017 Director, Executive Officer, Senior Executive Vice President, SBI Holdings, Inc. Jun 2018 Director, Executive Vice President, SBI Holdings, Inc. Jun 2018 Representative Director and President, SBI Financial Services Co., Ltd. (current) Jul 2018 Director, SBI Neo Financial Services Co., Ltd. (current) Mar 2019 Director, Moneytap Co., Ltd. (currently SBI Remit Co., Ltd.) Jun 2019 Representative Director and Vice President, SBI Holdings, Inc. (current) Jun 2020 Director, Leoss Capital Works Co., Ltd. Dec 2020 Outside Director, Ascot Corporation Jan 2021 Director, the Company (current) Aug 2021 Outside Director, ALBERT Inc. Jun 2023 Director, SBI Regional Revitalization Services Co., Ltd. (current) Jun 2024 Representative Director, SBI PTS Holdings Co., Ltd. (current)

1969-02-26

Sho AKASHI

Director

Apr 1985 Joined Daiwa House Industry Co., Ltd. Apr 2011 Representative Director, Daiwa Living Co., Ltd. Apr 2011 Representative Director and President, Daiwa Estate Co., Ltd. Jan 2012 Representative Director, Daiwa Living Management Co., Ltd. Jul 2014 Representative Director and President, Daiwa Living Utilities Co., Ltd. Oct 2016 Representative Director and President, Daiwa Living Stay Co., Ltd. Sep 2019 Representative Director and President, Daiwa Living Care Co., Ltd. Mar 2021 Director, Sanyo Co., Ltd. (current) Apr 2021 Director, Bankers Holdings Co., Ltd. (current) Apr 2021 Representative Director, WiLLBE Co., Ltd. (current) Sep 2021 Outside Director, the Company Sep 2022 Chairman, Outside Director, the Company Sep 2023 Outside Director, the Company (current) Jan 2024 Chairman of the Board, Hakukan NEXT Co., Ltd. (current)

1963-02-01

Takeaki NAKANO

Director, Full-time Audit and Supervisory Committee Member

Apr 1986 Joined Daiwa House Industry Co., Ltd. Oct 2005 Joined Daiwa Living Co., Ltd. Jun 2011 General Manager, Management Planning Department, Daiwa Living Co., Ltd. Apr 2017 Executive Officer, General Manager, Management Planning Department, Daiwa Living Co., Ltd. Apr 2021 Joined SBI Securities Co., Ltd. Apr 2022 General Manager, Business Development Department, SBI Securities Co., Ltd. Sep 2022 Audit & Supervisory Board Member, Global Elseed Sep 2022 Audit & Supervisory Board Member, Global Cast Co., Ltd. Sep 2022 Audit & Supervisory Board Member, Global Jyuhan Co., Ltd. (current) Sep 2022 Audit & Supervisory Board Member, Global Heart Co., Ltd. (current) Sep 2022 Audit & Supervisory Board Member, Global Hotel Partners Co., Ltd. (current) Sep 2022 Audit & Supervisory Board Member, the Company Sep 2023 Director (Full-time Audit and Supervisory Committee Member), the Company (current)

1963-11-30

Yuichiro YAMAGAMI

Director, Audit and Supervisory Committee Member

Apr 1996 Joined Mitsubishi Electric Corporation Nov 2006 Joined Taiyo ASG Audit Corporation (currently Taiyo LLC) Jul 2010 Registered as Certified Public Accountant Jul 2019 Established Audit Corporation Premption, Senior Partner (current) Outside Audit & Supervisory Board Member, the Company Sep 2022 Outside Director (Audit and Supervisory Committee Member), the Company (current)

1973-09-06

Naoko KAMIMURA

Director, Audit and Supervisory Committee Member

Apr 1999 Registered as Attorney-at-Law Apr 1999 Joined Nagashima Ohno & Tsunematsu Sep 2003 Worked at Schulte Roth & Zabel LLP (New York) Sep 2004 Ministry of Foreign Affairs, Economic Treaties Division, International Legal Affairs Bureau Oct 2006 Returned to Nagashima Ohno & Tsunematsu Nov 2019 General Manager, Legal & Compliance Office, Innovation Network Corporation of Japan (current) Sep 2023 Outside Director (Audit and Supervisory Committee Member), the Company (current)

1973-06-18

Large Shareholding Reports

SBI Holdings, Inc.

2026-05-29

51.95%→51.95%

Asahi Kasei Homes Corporation

2026-05-28

9.88%→0.00%

Annual report (as of 2025-12-31): 9.88%

SBI Holdings, Inc.

2026-05-27

51.95%→51.95%

SBI Holdings, Inc.

2026-04-13

52.52%→51.95%

Asahi Kasei Homes Corporation

2026-04-10

9.88%→9.88%

Annual report (as of 2025-12-31): 9.88%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-05-29

Large Shareholding Report

The Global Ltd.

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The Global Ltd.

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