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Overview

Real Estate

Tokyu Fudosan Holdings Corporation

Tokyu Fudosan Holdings Corporation is a comprehensive real estate group operating across four business segments: Urban Development (office buildings, commercial facilities, and residential development/leasing), Strategic Investment (renewable energy facilities, logistics facilities, and real estate fund/REIT management), Management & Operations (condominium/building management, resort hotels, golf courses, ski resorts, and senior housing), and Real Estate Distribution (brokerage, sales agency, and rental housing management). The group leverages its integrated platform spanning asset-heavy development and human capital-driven services to capture value across the full real estate lifecycle. Key subsidiaries include Tokyu Land Corporation, Tokyu Community Corporation, Tokyu Livable Inc., and Renewable Japan Co., Ltd., with international operations in Indonesia and the United States.

Market Cap

¥881B

US$5.61B

¥2,207B

US$14.1B

Stock¥1,235▲+2.49%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

9.1

LTM EV/EBIT

12.7

LTM PER

9.6

LTM PBR

1.0

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-24.3%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Nov 10, 25Strong H1 FY3/2026 results (net profit 2.1x YoY), FY guidance revised upward

MC → EV Bridge

AI Briefing

Generating insights…

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

32%

68%

EquityD/E 2.10xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 47.7%

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

TOKYU CORPORATION

15.90%

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

14.07%

Custody Bank of Japan, Ltd. (Trust Account)

7.19%

Tokyu Fudosan Holdings Corporation Employee Stock Ownership Association

1.96%

The Dai-ichi Life Insurance Company, Limited (Standing Proxy: Custody Bank of Japan, Ltd.)

1.71%

Sumitomo Mitsui Trust Bank, Limited (Standing Proxy: Custody Bank of Japan, Ltd.)

1.69%

STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)

1.60%

Custody Bank of Japan, Ltd. (Trust Account 4)

1.23%

JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)

1.22%

BNY MELLON AS AGENT EGTC CLIENTS NON TREATY JASDEC (Standing Proxy: MUFG Bank, Ltd.)

1.16%

Management

17 officers

Hironori NISHIKAWA

Chairman and Representative Director

Apr 1982 Joined Tokyu Land Corporation Oct 2013 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2014 Director, Tokyu Land Corporation Apr 2015 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2016 Managing Executive Officer, Tokyu Fudosan Holdings Corporation Jun 2016 Director, Managing Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2017 Director, Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2017 Representative Director, Tokyu Land Corporation Apr 2020 Representative Director, Tokyu Land Corporation Apr 2021 Representative Director, President and Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2026 Chairman, Director, Tokyu Land Corporation Apr 2026 Chairman and Representative Director, Tokyu Fudosan Holdings Corporation (current)

1958-11-12

Hiroaki HOSHINO

Representative Director, President and Executive Officer

Apr 1989 Joined Tokyu Land Corporation Apr 2018 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2020 Director, Tokyu Land Corporation Jun 2022 Director, Tokyu Fudosan Holdings Corporation Apr 2023 Director, Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2025 Representative Director, President, Tokyu Land Corporation Apr 2026 Representative Director, Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2026 Representative Director, President and Executive Officer, Tokyu Fudosan Holdings Corporation (current) Apr 2026 Chairman, Director, Tokyu Land Corporation (current)

1965-09-28

Shunichi KOBAYASHI

Director, Executive Officer

Apr 1988 Joined Tokyu Livable, Inc. Apr 2019 Director, Tokyu Livable, Inc. Apr 2025 Representative Director, President, Tokyu Livable, Inc. (current) Apr 2025 Executive Officer, Tokyu Fudosan Holdings Corporation Jun 2025 Director, Executive Officer, Tokyu Fudosan Holdings Corporation (current)

1964-07-18

Kei IKEUCHI

Director, Executive Officer

Apr 1989 Joined Tokyu Land Corporation Apr 2019 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2020 Director, Tokyu Land Corporation Apr 2022 Executive Officer, Tokyu Fudosan Holdings Corporation Jun 2025 Director, Executive Officer, Tokyu Fudosan Holdings Corporation (current) Apr 2026 Representative Director, President, Rien Energy Co., Ltd. (current)

1965-02-15

Tomoyuki HAYAKAWA

Director, Executive Officer

Apr 1987 Joined Tokyu Land Corporation Apr 2019 Director, Tokyu Community Corp. Apr 2019 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2026 Representative Director, President, Tokyu Community Corp. (current) Apr 2026 Executive Officer, Tokyu Fudosan Holdings Corporation Jun 2026 Director, Executive Officer, Tokyu Fudosan Holdings Corporation (current)

1965-03-10

Tatsuaki TANAKA

Director, Executive Officer

Apr 1990 Joined Tokyu Land Corporation Apr 2017 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2020 Director, Tokyu Land Corporation Apr 2022 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2026 Representative Director, President, Tokyu Land Corporation (current) Jun 2026 Director, Executive Officer, Tokyu Fudosan Holdings Corporation (current)

1967-05-15

Shigeru HASHIMOTO

Director, Executive Officer

Apr 1993 Joined Tokyu Land Corporation Apr 2022 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2023 Director, Tokyu Housing Lease Co., Ltd. Apr 2024 Representative Director, President, Tokyu Housing Lease Co., Ltd. Apr 2024 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2026 Jun 2026 Director, Tokyu Land Corporation (current) Director, Executive Officer, Tokyu Fudosan Holdings Corporation (current)

1969-12-27

Makoto KAIYAMI

Outside Director

Apr 1978 Appointed Judge Apr 2000 Presiding Judge, Tokyo District Court Jul 2007 Senior Deputy Director-General, Litigation Bureau, Ministry of Justice Nov 2012 Presiding Judge, Tokyo High Court Jul 2014 Presiding Judge, Tokyo Family Court Jun 2015 Chief Judge, Tokyo District Court Feb 2017 Registered as Attorney-at-Law Jun 2017 Outside Director, FUJIFILM Holdings Corporation Jun 2018 Outside Corporate Auditor, SEIREN Co., Ltd. (current) Jun 2018 Outside Director, Tokyu Fudosan Holdings Corporation (current) Sep 2018 Jun 2020 Affiliated with Otemachi Law Office Outside Director, Japan Post Holdings Co., Ltd. (current)

1951-10-05

Tsugihiko HOSHINO

Outside Director

Apr 1983 Joined Ministry of Finance Jun 2000 Counselor, Embassy of Japan in the United Kingdom, Ministry of Foreign Affairs Jul 2011 Deputy Director-General, Secretariat, Ministry of Finance Jul 2015 Deputy Commissioner, National Tax Agency Jun 2016 Director-General, Tax Bureau, Ministry of Finance Jul 2019 Commissioner, National Tax Agency Dec 2020 Advisor, TMI Associates (current) Jun 2021 Outside Director, Tokyu Fudosan Holdings Corporation (current) Jun 2021 Jun 2023 Vice Chairman, Director, The General Insurance Association of Japan (current) Outside Director, Aisin Corporation (current)

1959-11-06

Yumiko SADATSUKA

Outside Director

Apr 1984 Joined Ministry of Labour (current Ministry of Health, Labour and Welfare) May 2014 Deputy Director, Cabinet Secretariat Personnel Bureau Jun 2016 Director-General, Social and Environmental Bureau, Ministry of Health, Labour and Welfare Jul 2018 Chief Secretary, Ministry of Health, Labour and Welfare Jul 2019 Jun 2021 Director-General for Human Resources Development, Ministry of Health, Labour and Welfare Outside Director, Tokyu Fudosan Holdings Corporation (current) Jun 2021 Jun 2023 Outside Director, Shimizu Corporation Representative Director, Chairman, 21st Century Job Club Foundation (current) Jun 2025 Outside Director, Sojitz Corporation (current)

1962-03-19

Akiko UNO

Outside Director

Apr 1983 Joined Shiseido Company, Limited Jan 2016 Customer Center Manager, Shiseido Japan Co., Ltd. Jan 2019 Deputy General Manager, Secretariat and External Affairs Department, Shiseido Company, Limited Mar 2019 Full-time Corporate Auditor, Shiseido Company, Limited Jun 2022 Jun 2024 Aug 2024 Outside Director, Hokuriku Electric Power Company Outside Director, Tokyu Fudosan Holdings Corporation (current) Outside Director, Ohba Co., Ltd. (current) Jun 2025 Outside Director, Kampo Life Insurance Company, Japan Post Insurance (current)

1960-10-14

Kazumi NAKADE (formerly MAEDA)

Outside Director

May 1998 Joined Hyatt Japan K.K. Aug 2016 Regional Vice President, Human Resources and General Affairs, Hyatt Japan K.K. Apr 2018 Director, Hyatt Japan K.K. Jun 2023 Outside Director, Takara Standard Co., Ltd. (current) Jun 2024 Jun 2025 Outside Director, Tokyu Land Corporation Outside Director, Tokyu Fudosan Holdings Corporation (current)

1965-09-22

Masaoki KANEMATSU

Standing Corporate Auditor

Apr 1988 Joined Tokyu Land Corporation Apr 2014 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2023 Standing Corporate Auditor, Tokyu Land Corporation (current) Apr 2023 Corporate Auditor, Tokyu Community Corp. (current) Jun 2023 Apr 2024 Apr 2026 Standing Corporate Auditor, Tokyu Fudosan Holdings Corporation (current) Corporate Auditor, Gakusei Joho Center Co., Ltd. (current) Corporate Auditor, Rien Energy Co., Ltd. (current)

1964-04-05

Akiko HOSHINA (formerly ENOKIDO)

Standing Corporate Auditor

Apr 1989 Joined Tokyu Land Corporation Apr 2021 Director, Tokyu Land Corporation Apr 2022 Executive Officer, Tokyu Fudosan Holdings Corporation Apr 2024 Standing Corporate Auditor, Tokyu Land Corporation (current) Apr 2024 Corporate Auditor, Tokyu Livable, Inc. (current) Apr 2024 Corporate Auditor, Tokyu Housing Lease Co., Ltd. (current) Jun 2024 Standing Corporate Auditor, Tokyu Fudosan Holdings Corporation (current)

1965-10-09

Takahiro NAKAZAWA

Outside Corporate Auditor

Oct 1981 Joined Price Waterhouse Certified Public Accountants Joint Office Jun 1983 Joined Aoyama Audit Corporation Mar 1985 Registered as Certified Public Accountant Jul 2001 Senior Partner, Chuo Aoyama Audit Corporation Sep 2006 Senior Partner, Arata Audit Corporation (now PwC Japan LLC) Mar 2020 Jun 2021 Outside Corporate Auditor, Kao Corporation Corporate Auditor, Tokyu Fudosan Holdings Corporation (current)

1958-05-30

Yoshiko YOSHIDA

Outside Corporate Auditor

Apr 1987 Registered as Attorney-at-Law Aug 1996 Joined Nihon Oracle K.K. Jun 2007 Joined Johnson & Johnson K.K. Jul 2012 Joined Nippon Steel Solutions Corporation (now NS Solutions Corporation) General Manager, Legal and Intellectual Property Department, NS Solutions Corporation Apr 2015 Executive Officer, General Manager, Legal and Intellectual Property Department, NS Solutions Corporation Apr 2019 Senior Executive Officer, General Manager, Legal and Intellectual Property Department; Deputy General Manager, Human Resources Division (Work Style Reform), NS Solutions Corporation Apr 2024 Apr 2025 Fellow, NS Solutions Corporation Advisor, NS Solutions Corporation Jun 2025 Apr 2026 Corporate Auditor, Tokyu Fudosan Holdings Corporation (current) Affiliated with Ajioka Law Office (current)

1960-04-06

Motoyuki II

Outside Director

Apr 1983 Joined Nippon Telegraph and Telephone Public Corporation (now NTT, Inc.) Jun 2015 Managing Director, East Japan Telegraph and Telephone Corporation (now NTT East Japan) Jun 2016 Senior Executive Vice President, East Japan Telegraph and Telephone Corporation Jun 2018 Senior Executive Vice President, Nippon Telegraph and Telephone Corporation (now NTT, Inc.) Jun 2020 Senior Executive Vice President, NTT DOCOMO, INC. Dec 2020 Jun 2025 Jun 2025 Mar 2026 Jun 2026 President and Representative Director, NTT DOCOMO, INC. Outside Director (Audit and Supervisory Committee Member), Nippon Yusen Kabushiki Kaisha (current) Outside Director, Tokyu Fudosan Holdings Corporation Representative Director, Chairman, The Telecommunication Association Director, Tokyu Fudosan Holdings Corporation (current)

1958-11-17

Large Shareholding Reports

Asset Management One Co., Ltd.

2026-06-05

4.36%→3.66%

Sumitomo Mitsui Trust Asset Management Co., Ltd.

2025-09-19

2.64%→2.48%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-06

Q1 Earnings Flash

FY ending Mar 2027

Tokyu Fudosan Holdings Corporation

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Tokyu Fudosan Holdings Corporation

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