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Overview

Real Estate

B-Lot Company Limited

B-Lot Co., Ltd. is a vertically integrated real estate firm operating across three core segments: real estate investment and development, real estate consulting, and real estate management. The company specializes in acquiring undervalued commercial and residential properties—including office and retail buildings—and enhancing their asset value through renovation, repositioning, and redevelopment, before selling to real estate funds, high-net-worth individuals, and institutional investors. Its competitive strengths lie in deep expertise in commercial real estate, an extensive network of wealthy individual and institutional clients, and a synergistic business model that leverages proprietary deal flow and asset management capabilities across all segments.

Market Cap

¥26.4B

US$168M

¥85.0B

US$542M

Stock¥1,399▲+0.29%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

10.1

LTM EV/EBIT

10.5

LTM PER

5.6

LTM PBR

1.2

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-41.4%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

23%

77%

EquityD/E 3.36xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 44.2%

as of 2026-06-30 · Source: Annual Securities Report

Masahiro MOCHIZUKI

12.08%

M&M LLC

8.70%

Silk Capital Co., Ltd.

5.32%

Makoto MIYAUCHI

5.30%

Fumie MOCHIZUKI

2.80%

SBI SECURITIES Co., Ltd.

2.19%

Hideshi KUMAOKA

2.12%

Kentaro EZAKI

2.07%

Rakuten Securities, Inc.

1.87%

Custody Bank of Japan, Ltd.

1.78%

Management

8 officers

Makoto MIYAUCHI

Representative Director, Chairman

Jul 1995 Joined Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Dec 2000 Seconded to Sanwa Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Feb 2006 Joined Sun Frontier Fudousan Co., Ltd. Jun 2006 Director and General Manager of Investment Planning Department, Sun Frontier Fudousan Co., Ltd. Oct 2008 Established the Company; assumed office as Representative Director, President Mar 2022 Assumed office as Representative Director, Chairman (current)

1969-02-21

Masahiro MOCHIZUKI

Representative Director, President, Head of Real Estate Investment and Development Division

Apr 1997 Joined Toshi Kagaku Engineering Co., Ltd. Feb 1999 Joined Sun Frontier Co., Ltd. (now Sun Frontier Fudousan Co., Ltd.) Jun 2004 Director and General Manager of Replanning Business Division, Sun Frontier Co., Ltd. Jun 2006 Managing Director and Head of Asset Management Division, Sun Frontier Fudousan Co., Ltd. Jan 2009 Joined the Company; assumed office as Representative Director, Executive Vice President and General Manager of Real Estate Investment and Development Department Mar 2013 Assumed office as Director, Executive Vice President and Head of Real Estate Investment and Development Division Mar 2022 Assumed office as Director, President and Head of Real Estate Investment and Development Division Mar 2025 Assumed office as Representative Director, President and Head of Real Estate Investment and Development Division (current)

1972-10-26

Kentaro EZAKI

Managing Director, Head of Real Estate Management Division and Head of Fukuoka Branch

Apr 1989 Joined Kyushu Giken Kaihatsu Co., Ltd. Jan 1992 Joined Nihon Housing Co., Ltd. Jun 1993 Joined Kurokishi Building Co., Ltd. (now Dix Kuroki Co., Ltd.) Sep 1996 Assumed office as Director of the same company Jun 2008 Assumed office as Senior Managing Director and Head of Sales Division of the same company Sep 2013 Joined the Company; assumed office as Executive Officer and Head of Fukuoka Branch Mar 2018 Assumed office as Director and Head of Fukuoka Branch Mar 2024 Assumed office as Managing Director and Head of Fukuoka Branch Mar 2026 Assumed office as Managing Director, Head of Real Estate Management Division and Head of Fukuoka Branch (scheduled)

1969-01-03

Fumie MOCHIZUKI

Managing Director, Head of Administration Division and General Manager of Compliance Department

Apr 2002 Joined Sun Frontier Fudousan Co., Ltd. Oct 2008 Joined the Company Mar 2013 Assumed office as Executive Officer, General Manager of Corporate Planning Office and General Manager of Compliance Office Sep 2016 Assumed office as Executive Officer, General Manager of Administration Department and General Manager of Compliance Office Mar 2018 Assumed office as Director, Head of Administration Division and General Manager of Compliance Office Mar 2026 Assumed office as Managing Director, Head of Administration Division and General Manager of Compliance Department (scheduled)

1980-02-16

Yuji SAKOU

Director, Head of Real Estate Consulting Division

Apr 2006 Joined Recruit Cosmos Co., Ltd. (now Cosmos Initia Co., Ltd.) Jun 2013 Joined the Company Mar 2018 Assumed office as Executive Officer and General Manager of Real Estate Consulting Department, Real Estate Consulting Division Sep 2018 Assumed office as Executive Officer, General Manager of Real Estate Consulting Department, Real Estate Consulting Division, and Head of Osaka Branch Apr 2020 Assumed office as Executive Officer, Head of Real Estate Solutions Division, General Manager of Consulting Department, Real Estate Consulting Division, and Head of Osaka Branch Mar 2022 Assumed office as Director, Head of Real Estate Solutions Division, Deputy Head of Real Estate Consulting Division, and Head of Osaka Branch Mar 2024 Assumed office as Director, Head of Real Estate Consulting Division (current)

1983-06-19

Mamoru KOJIMA

Director, Audit and Supervisory Committee Member

Oct 1993 Joined Chuo Audit Corporation (now PwC Japan LLC) Apr 1997 Registered as Certified Public Accountant Aug 2000 Joined Fuji Accounting Office Audit Corporation (now Moore Mirai Audit Corporation) Aug 2003 Joined PwC Advisory Co., Ltd. Dec 2008 Registered as attorney (Tokyo Bar Association) Jan 2009 Joined Okuno & Partners Apr 2015 Representative, Kojima Law & Accounting Office (now Trident Law Corporation) (current) Dec 2015 Outside Audit & Supervisory Board Member, Septeni Holdings Co., Ltd. (current) Mar 2020 Outside Audit & Supervisory Board Member, SECURE Co., Ltd. (current) Mar 2020 Assumed office as Director, Audit and Supervisory Committee Member of the Company (current)

1970-02-16

Tomohiko KIKKO

Director, Audit and Supervisory Committee Member

Dec 2009 Registered as attorney (Daiichi Tokyo Bar Association) Dec 2009 Joined Hori Sogo Law Office Jun 2016 Seconded to Dentons Rodyk & Davidson LLP (Singapore) May 2017 Outside Audit & Supervisory Board Member, Terrasky Co., Ltd. (current) Mar 2019 Audit & Supervisory Board Member, Terrasky Ventures Inc. (current) Aug 2019 Representative, Crossbridge Law Office (current) Mar 2020 Assumed office as Director, Audit and Supervisory Committee Member of the Company (current) Feb 2021 Outside Audit & Supervisory Board Member, CaSy Inc.

1980-11-25

Mika KUWAHARA

Director, Audit and Supervisory Committee Member

Dec 2008 Joined Shin Nihon & Co., Ltd. (now EY Shin Nihon LLC) Aug 2012 Registered as Certified Public Accountant Apr 2022 Joined Nomura Securities Co., Ltd. Nov 2025 Joined Lark Co., Ltd. (current) Mar 2026 Scheduled to assume office as Director, Audit and Supervisory Committee Member of the Company

1982-06-04

Large Shareholding Reports

Masahiro Mochizuki

2026-09-16

11.36%→5.86%

Annual report (as of 2026-06-30): 12.08%

Masahiro MOCHIZUKI

2026-07-13

10.39%→11.36%

Correction filing (name/detail fix only) — ratio carried over from the original filing

Annual report (as of 2026-06-30): 12.08%

Masahiro MOCHIZUKI

2026-07-10

10.39%→11.36%

Annual report (as of 2026-06-30): 12.08%

M&M LLC

2025-11-19

8.18%→8.18%

Annual report (as of 2026-06-30): 8.70%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-09-16

Large Shareholding Report

B-Lot Company Limited

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B-Lot Company Limited

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