Overview
Real Estate

Hoosiers Holdings Co.,Ltd.

Hoosiers Holdings is a diversified real estate group operating across four core segments: real estate development (new condominium and detached housing sales, urban redevelopment), CCRC (senior-oriented condominium development and care services), real estate investment (asset management, private REIT/fund management, renovation condominiums), and real estate-related services (property management, hotel operations, sports club management, PPP/PFI projects). The group targets a broad domestic market spanning Hokkaido, Tohoku, Kanto, Chubu, Kansai, Kyushu, and Chugoku/Shikoku regions, with international investment platforms in Singapore, North America, and Vietnam. Its competitive strength lies in its vertically integrated model covering development, management, investment, and lifestyle services under a single holding company structure.

Market Cap
¥50.6B
US$323M
EV
¥141B
US$897M
Stock¥1,238▲+0.57%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
8.8
x
LTM EV/EBIT
9.3
x
LTM PER
6.3
x
LTM PBR
1.0
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-26.9%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
50.6BUS$323MMarket Cap124BUS$792M+ Debt34.3BUS$219M− Cash2.22BUS$14.2M− Inv. Sec.2.30BUS$14.7M+ NCI141BUS$897MEV
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Performance & Balance
Revenue 5Y (¥B)
79.5US$507M'22/379.3US$506M'23/386.4US$551M'24/392.2US$588M'25/3139US$884M'26/3
EBITDA 5Y (¥B)
8.07US$51.5M'22/39.88US$63.0M'23/310.6US$67.3M'24/310.7US$68.2M'25/315.0US$95.5M'26/3
Net Income 5Y (¥B)
3.07US$19.6M'22/34.56US$29.1M'23/34.81US$30.7M'24/35.46US$34.8M'25/37.13US$45.5M'26/3
Capital Structure
29%
71%
EquityD/E 2.43xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
35.1US$224M72.7US$463M'22/333.1US$211M85.8US$547M'23/333.8US$216M90.7US$578M'24/331.8US$203M108US$686M'25/340.2US$256M107US$682M'26/3
Shareholders
Top 10 hold 41.9%
1
Tetsuya HIROOKA
12.26%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
9.71%
3
DAIWA CM SINGAPORE LTD-NOMINEE HIROOKA TETSUYA (Standing Proxy: Daiwa Securities Co. Ltd.)
9.45%
4
Custody Bank of Japan, Ltd. (Trust Account)
2.92%
5
Custody Bank of Japan, Ltd. (Money Trust Taxable Account)
2.25%
6
TH One Co., Ltd.
1.57%
7
Yoshimune KOBAYASHI
1.19%
8
Ameyo ANDO
0.91%
9
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
0.91%
10
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
0.72%
Management
9 officers
Tetsuya HIROOKA
Director, Chairman of the Board
Apr 1987: Joined Recruit Cosmos Co., Ltd. (now Cosmos Initia Co., Ltd.) Dec 1994: Established Hoosiers Co., Ltd. (now Hoosiers Corporation), Representative Director Apr 2013: Representative Director, President of the Company May 2017: Director, Hoosiers Asia Pacific Pte. Ltd. (current) Oct 2021: Director, Hoosiers Real Estate (Thailand) Co., Ltd. (current) Apr 2022: Representative Director, Chairman and Executive Officer of the Company Jun 2025: Director, Chairman of the Board of the Company (current)
1963-06-25
Eiichi OGAWA
Representative Director, President and Executive Officer, and CEO
Apr 1988: Joined Recruit Cosmos Co., Ltd. (now Cosmos Initia Co., Ltd.) Jul 2001: Joined Hoosiers Corporation Co., Ltd. Feb 2002: Director, Hoosiers Corporation Co., Ltd. Jul 2009: Representative Director, A-One Corporation Co., Ltd. Apr 2015: Director, Hara Kosan Co., Ltd. (now REVOLUTION Co., Ltd.) Apr 2016: Director, Hoosiers Corporation Co., Ltd. Apr 2017: Representative Director, President, Hoosiers Corporation Co., Ltd. (current) Jun 2019: Director of the Company Apr 2022: Representative Director, President and Executive Officer of the Company (current)
1964-12-06
Michiya FUJII
Director, Senior Managing Executive Officer, and CFO
Apr 1990: Joined The Taiyo Kobe Mitsui Bank (now Sumitomo Mitsui Banking Corporation) Jul 2005: Head of Real Estate Finance Group, BNP Paribas Securities Japan Ltd. Oct 2006: Executive Director, UBS Securities Japan Co., Ltd. Oct 2010: General Manager, Real Estate Finance Department, Corporate Finance Division, Tokyo Star Bank, Ltd. Oct 2018: Head of Marketing and Products Division, Retail Finance Division, Tokyo Star Bank, Ltd. Apr 2019: Executive Officer, Tokyo Star Bank, Ltd. Oct 2022: Joined the Company, Executive Officer (current)
1967-08-03
Masatoshi AN
Director
Apr 1975: Joined Nikken Sekkei Ltd. Mar 2001: Executive Officer, Deputy Head of Tokyo Office, and Director of Tokyo Planning Office, Nikken Sekkei Ltd. Jan 2006: Deputy President and Representative Director, Nikken Sekkei Ltd. Jan 2014: Chairman, Nikken Sekkei Research Institute Ltd. Sep 2016: Chairman and Representative Director, MA Partners Co., Ltd. Jun 2018: Vice President, Dynaair Co., Ltd. (current) Jun 2019: Outside Director of the Company (current) Jul 2024: Chairman and Representative Director, MA Corporation Co., Ltd. (current) Director, MA Partners Co., Ltd. (current)
1949-06-16
Masashi TSUBOYAMA
Director
Apr 1988: Joined Salomon Brothers Asia Securities Co. (now Citigroup Global Markets Japan Inc.) Jul 1996: Joined UBS Securities Japan Co., Ltd. Aug 2013: Managing Director, UBS Securities Japan Co., Ltd. Sep 2016: Chairman and CEO, Representative Director, EVOLUTION JAPAN Securities Co., Ltd. May 2019: Representative Director, Capital Link Investment Co., Ltd. (now Capital Link Partners Co., Ltd.) (current) Jun 2020: Outside Director of the Company (current) Apr 2024: Fellow, Applied Capital Market Research Center, The University of Tokyo Sep 2024: Director, International House of Japan (current) Apr 2025: Project Professor, Applied Capital Market Research Center, The University of Tokyo (current)
1965-12-19
Atsuhiro IMAI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1983: Joined Kyowa Bank (now Resona Bank, Limited) Apr 2004: General Manager, Compliance Division, Resona Bank, Limited May 2013: Joined Inageya Co., Ltd. Jun 2016: Director in charge of IR and General Manager, Administration Division, Inageya Co., Ltd. Jan 2019: Joined the Company Apr 2019: General Manager, Risk Management Department and Head of Internal Audit Office of the Company May 2020: Audit & Supervisory Board Member, Hoosiers Wellness & Sports Co., Ltd. (current) Audit & Supervisory Board Member, Hoosiers REIT Advisors Co., Ltd. (now Hoosiers Capital Management Co., Ltd.) (current) Jun 2020: Audit & Supervisory Board Member, Hoosiers Living Service Co., Ltd. (now Hoosiers Well-being Partners Co., Ltd.) (current) Jun 2021: Full-time Audit & Supervisory Board Member of the Company Jun 2022: Full-time Audit and Supervisory Committee Member of the Company (current) Sep 2022: Outside Director, Intage Holdings Inc. (current) Dec 2022: Audit & Supervisory Board Member, Home Stage Co., Ltd. (current)
1960-12-04
Naoki ITO
Director (Full-time Audit and Supervisory Committee Member)
Apr 1991: Joined Kyowa Saitama Bank (now Resona Bank, Limited) Apr 2015: General Manager, Shin-Yokohama Branch, Resona Bank, Limited Apr 2017: General Manager, Sales Division No. 1, Tokyo Sales Department, Resona Bank, Limited Apr 2019: General Manager, Shin-Toshin Sales Department, Resona Bank, Limited Apr 2022: Representative Director, President, Resona Digital Hub Co., Ltd.
1968-11-10
Naoko TANIGUCHI
Director (Audit and Supervisory Committee Member)
May 1993: Registered as attorney-at-law, State of New York Jan 1994: Joined Davis Polk & Wardwell Nov 1998: Joined Merrill Lynch Japan Securities Co., Ltd. Jul 2000: Joined Morgan Stanley Japan Securities Co., Ltd. Mar 2003: Joined Lehman Brothers Japan Inc. Aug 2009: Joined GE Japan Corporation, General Counsel, Capital Division Nov 2016: Joined Fuji Heavy Industries Ltd. (now SUBARU Corporation) Jan 2017: General Counsel, Fuji Heavy Industries Ltd. Feb 2017: Councilor, Mirai RITA Foundation (now Mirai RITA Public Interest Foundation) (current) Feb 2021: Joined NEC Corporation Apr 2021: General Counsel, NEC Corporation Jun 2024: Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1965-06-25
Shinkichi MATSUO
Director (Audit and Supervisory Committee Member)
Apr 1991: Joined Mitsubishi Electric Corporation Apr 1993: Joined Yokohama City Government Oct 1995: Joined Ota Showa & Co. (now EY ShinNihon LLC) Apr 1999: Registered as Certified Public Accountant Jul 2010: Partner, ShinNihon LLC (now EY ShinNihon LLC) Jun 2018: Established NextLeap Co., Ltd., Representative Director (current) Oct 2018: Outside Audit & Supervisory Board Member, Anbis Holdings Inc. Jun 2019: Outside Audit & Supervisory Board Member, Seikagaku Corporation (current) Aug 2019: Outside Audit & Supervisory Board Member, Takara Printing Co., Ltd. (now TAKARA & COMPANY Inc.) (current) Dec 2023: Outside Director (Audit and Supervisory Committee Member), NS Group Inc. (current) Jun 2024: Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1969-01-09
Large Shareholding Reports
Tetsuya HIROOKA
2025-09-01
24.35%→24.35%
Annual report (as of 2026-03-31): 12.26%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-17
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-14
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-01
Large Shareholding Report
EDINETAmended
2025-08-26
Amended Securities Registration Statement
EDINETAmended
2025-08-26
Amended Securities Registration Statement
EDINET
2025-08-18
Securities Registration Statement
EDINET
2025-08-18
Securities Registration Statement
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-07-31
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-06-26
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-24
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-26
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-27
Annual Securities Report
EDINET
2022-02-14
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-10
Quarterly Securities Report
EDINET
2021-06-28
Annual Securities Report
EDINET
2021-02-09
Quarterly Securities Report
EDINETAmended
2021-01-28
Amended Annual Securities Report
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