Overview
Construction

CEL Corporation

Sele Corporation is a niche apartment developer and property management company focused on the Greater Tokyo area (Tokyo, Kanagawa, Chiba, Saitama), targeting young residents aged 25–35 with distinctive, design-forward rental apartments. The company operates an integrated business model spanning consulting, proprietary steel-frame construction (using its original 'Sele Z' structural method with ISO9001-certified in-house manufacturing), apartment development and sales to high-net-worth individuals in prime urban sub-markets (Jōnan and Jōsei districts of Tokyo), and recurring-revenue property management services. Its competitive strengths lie in full vertical integration from land sourcing and design through construction and ongoing property management, as well as a growing stock-based income stream through its subsidiary, Sele Rent Partners Co., Ltd.

Market Cap
US$90.1M
¥14.4B
EV
-US$16.0M
¥-2.56B
StockUS$27.43(¥4,380)▲+0.00%
US$1 = ¥159.70 (2026-11-12)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
14.8
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-45.0%pt
100
Nov 13, 25 – Nov 12, 26StockTOPIX
MC → EV Bridge
US$90.1M¥14.4BMarket CapUS$0.85M¥0.14B+ DebtUS$107M¥17.0B− CashUS$0.34M¥0.05B− Inv. Sec.-US$16.0M¥-2.56BEV
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Performance & Balance
Revenue 5Y (US$)
US$115M¥18.4B'22/2US$134M¥21.4B'23/2US$145M¥23.1B'24/2US$150M¥23.9B'25/2US$126M¥20.2B'26/2
EBITDA 5Y (US$)
US$8.30M¥1.33B'22/2US$8.70M¥1.39B'23/2US$11.2M¥1.80B'24/2US$13.6M¥2.18B'25/2US$11.6M¥1.85B'26/2
Net Income 5Y (US$)
US$66.9M¥10.7B'22/2US$5.34M¥0.85B'23/2US$6.94M¥1.11B'24/2US$8.87M¥1.42B'25/2US$7.18M¥1.15B'26/2
Capital Structure
99%
EquityD/E 0.01xDebt
Liquidity vs Debt 5Y (US$)▲ Net Cash
CashInv. Sec.Debt
US$123M¥19.6BUS$7.39M¥1.18B'22/2US$89.7M¥14.3BUS$1.25M¥0.20B'23/2US$112M¥17.8BUS$1.25M¥0.20B'24/2US$116M¥18.6B'25/2US$101M¥16.2B'26/2
Business Segments
2026/02 · US$ (¥B)
49%
Lease and management business
Revenue
US$65.9M(¥10.5B)
Segment profit
US$8.09M(¥1.29B)12.3%
44%
Construction business
Revenue
US$59.4M(¥9.49B)
Segment profit
US$7.15M(¥1.14B)12.0%
6.5%
Real estate business
Revenue
US$8.68M(¥1.39B)
Segment profit
US$0.75M(¥0.12B)8.6%
Adjustments
Revenue
-US$7.59M(¥-1.21B)
Segment profit
-US$5.39M(¥-0.86B)
Shareholders
Top 10 hold 88.2%
1
J Corporation Co., Ltd.
58.37%
2
Makitec Co., Ltd.
8.73%
3
Hikari Tsushin K.K. Investment Business Limited Partnership
6.50%
4
Custody Bank of Japan, Ltd. (Trust Account E)
4.43%
5
CEL Corporation Employee Stock Ownership Association
2.81%
6
UH Partners 2 Investment Business Limited Liability Partnership
2.20%
7
Hisayo KIHIRA
1.43%
8
Ko YAMAMOTO
1.43%
9
Tomiya KAIMOTO
1.16%
10
Takaya KAIMOTO
1.16%
Management
13 officers
Takanori YAMAGUCHI
Representative Director, President and Executive Officer
Apr 1987 Joined NEC Home Electronics, Ltd. Jun 1995 Joined Nitsuseki House Industry Co., Ltd. Dec 2002 Joined the Company Dec 2005 Executive Officer, General Manager of Corporate Planning Department, the Company Sep 2007 Director, Sairi (China) Co., Ltd. Dec 2008 Director and Executive Officer, General Manager of Administration Division, the Company May 2016 Director and Managing Executive Officer, General Manager of Administration Division, the Company Jan 2020 Director, Granko (Shanghai) Business Consulting Co., Ltd. Mar 2022 Director and Managing Executive Officer, General Manager of Management Division, the Company Nov 2022 Chairman, Sere Scholarship Foundation (current) Apr 2023 Representative Director, Serelent Partners Co., Ltd. (current) May 2023 Representative Director, President and Executive Officer, Chief Operating Officer, the Company May 2024 Representative Director, President and Executive Officer, the Company (current)
1964-03-20
Masayoshi NISHIMOTO
Director, Senior Managing Executive Officer, Head of Development Company
Apr 1989 Joined Nitsuseki House Industry Co., Ltd. Dec 2002 Joined the Company Dec 2004 Executive Officer, General Manager of Sales Division, the Company Dec 2005 Executive Officer, General Manager of Second Sales Department, the Company May 2016 Director and Managing Executive Officer, General Manager of Technology Division, the Company Oct 2020 Director and Managing Executive Officer, Business Executive in Charge of Rental Housing Business, the Company May 2023 Director and Managing Executive Officer, the Company Mar 2026 Director and Managing Executive Officer, Head of Development Company, the Company May 2026 Director, Senior Managing Executive Officer, Head of Development Company, the Company (current)
1964-04-21
Kenichi SUZUKI
Director, Managing Executive Officer, Head of Chiba Plant Company
Apr 1994 Joined Nitsuseki House Industry Co., Ltd. Dec 2002 Joined the Company Jan 2009 Executive Officer, General Manager of Sales Division, Multi-Family Housing Business Department, the Company May 2014 Director and Executive Officer, General Manager of Sales Division, the Company May 2016 Director and Managing Executive Officer, General Manager of Sales Division, the Company Oct 2020 Director and Managing Executive Officer, Business Executive in Charge of Rental Development Business, the Company May 2023 Director and Managing Executive Officer, the Company Jun 2024 Director and Managing Executive Officer, Head of Renovation Company, the Company Mar 2026 Director and Managing Executive Officer, Head of Chiba Plant Company, the Company (current)
1969-09-30
Satoshi OGURI
Director, Managing Executive Officer
Sep 1995 Joined Yokoyama Katsuo Certified Public Accountant Office Feb 2007 Joined De Lead & Sere Holdings Co., Ltd. (now the Company) Jan 2011 Seconded to Sairi (China) Co., Ltd. Jan 2013 Seconded to the same company, General Manager of Service Office Business Department May 2015 General Manager of Accounting Division, Administration Division Management Department, the Company May 2016 Executive Officer, General Manager of Business Management Department, Administration Division, the Company Mar 2022 Executive Officer, in charge of Business Management, Management Division, the Company May 2023 Director and Managing Executive Officer, the Company Mar 2025 Director and Managing Executive Officer, Head of Chiba Plant Company, the Company Mar 2026 Director and Managing Executive Officer, the Company (current)
1972-08-11
Takeshi TAKEUCHI
Director, Managing Executive Officer
Apr 1992 Joined Ishikawajima-Harima Heavy Industries Co., Ltd. (now IHI Corporation) Jan 2003 Joined Yusei Audit Corporation (now Taiyo LLC) Sep 2003 Joined Shin Nihon Audit Corporation (now EY ShinNihon LLC) Jul 2006 Registered as Certified Public Accountant Jul 2024 Joined the Company as Executive Officer, General Manager of Corporate Planning Department Mar 2025 Registered as Real Estate Appraiser May 2025 Director and Managing Executive Officer, the Company (current)
1969-10-07
Mitsunari JINNAI
Director, Managing Executive Officer, Head of Asset Management Company
Mar 2000 Joined Nitsuseki House Industry Co., Ltd. Dec 2002 Joined the Company May 2019 Executive Officer, General Manager of Asset Management Sales Department, Sales Division, the Company Oct 2020 Executive Officer, General Manager of Asset Management Sales Department, Rental Housing Business, the Company May 2023 Executive Officer, Head of Asset Management Division, the Company Mar 2024 Executive Officer, Head of Asset Management Company, the Company May 2026 Director and Managing Executive Officer, Head of Asset Management Company, the Company (current)
1978-02-08
Takuhiro YUSA
Full-time Audit & Supervisory Board Member
Apr 1995 Joined Tack Creative Co., Ltd. Jun 2004 Joined the Company, General Manager of Business Management and Sales Promotion Department May 2014 Manager of Brand Promotion Office, Growth Strategy Division, the Company Mar 2016 Manager of General Affairs Group, Business Management Department, Administration Division, the Company May 2017 Manager, Internal Audit Office, the Company Mar 2018 Leader, Internal Audit Office, the Company Oct 2020 Section Manager, Risk Management Section, Risk Management Office, the Company Mar 2024 Section Manager, Internal Audit Section, Internal Audit Office, the Company May 2025 Full-time Audit & Supervisory Board Member, the Company (current)
1970-05-09
Morio WATANABE
Director
Apr 1975 Joined Asahi Kasei Corporation (now Asahi Kasei Corporation) Oct 2003 Transferred to Asahi Kasei Homes Corporation, Executive Officer Apr 2006 Managing Executive Officer, Asahi Kasei Homes Corporation Apr 2011 Representative Director, President, Asahi Kasei Real Estate Co., Ltd. Apr 2011 Director and Senior Managing Executive Officer, Asahi Kasei Homes Corporation Oct 2011 Representative Director, President, Asahi Kasei Real Estate Residence Co., Ltd. Apr 2016 Director and Chairman, Asahi Kasei Real Estate Residence Co., Ltd. Apr 2017 Advisor, Asahi Kasei Homes Corporation May 2019 Outside Director, the Company (current)
1952-12-18
Masatoshi OKUCHI
Director
Apr 1982 Joined Toda Corporation Mar 2009 General Manager, Construction Sales Department 3, Head Office, Toda Corporation Mar 2013 Head of Kobe General Sales Office, Osaka Branch, Toda Corporation Apr 2014 General Manager, Technical Sales Department, Yokohama Branch, Toda Corporation Aug 2014 Representative Director, President, Toda Brasil Ltd. Jul 2018 Director, Construction Industry Promotion Foundation (current) May 2024 Outside Director, the Company (current)
1959-04-15
Daisuke ITO
Director
Apr 1983 Joined Asahi Kasei Corporation (now Asahi Kasei Corporation) Oct 2001 Head of Product Development Office, Multi-Family Housing Sales Division, Asahi Kasei Corporation Apr 2006 General Manager of Sales Development Department, Multi-Family Housing Sales Division, Asahi Kasei Homes Corporation Apr 2008 General Manager of Technical Department, Multi-Family Housing Sales Division, the same company Apr 2011 General Manager of Design Promotion Division, the same company Apr 2017 Executive Officer, the same company Apr 2020 Representative Director, President, Asahi Kasei Design Co., Ltd. May 2026 Outside Director, the Company (current)
1959-03-19
Naomi NAKAYAMA
Director
Apr 1988 Joined Ando Corporation (now Ando Corporation) Jul 2001 Joined Light Management Consultants Japan Co., Ltd. (now ManpowerGroup K.K.) Sep 2005 Director, Quest Consulting Co., Ltd. Feb 2013 Joined Abeam Consulting Ltd., Senior Manager, Management Reform Sector Dec 2015 Joined Toshiba Corporation, Counselor, Human Resources and General Affairs Department Aug 2018 Joined Mitsubishi UFJ Research & Consulting Co., Ltd., Principal, Organization and Human Resources Business Unit, Consulting Business Division May 2025 Outside Director, Chiyoda Corporation (current) May 2026 Outside Director, the Company (current)
1965-09-08
Yasuko TERAURA
Audit & Supervisory Board Member
Apr 2000 Registered as Attorney at Law; joined TMI Associates Oct 2006 Admitted as New York State Attorney Mar 2010 Established Endeavor Law Office (current) Jun 2014 Outside Director, Koshuha Netsushoren Co., Ltd. Jun 2018 Outside Director (Audit and Supervisory Committee Member), Japan Asset Marketing Co., Ltd. Jun 2019 Outside Director, Seiko Holdings Corporation (now Seiko Group Corporation) Jun 2022 Outside Director (Audit and Supervisory Committee Member), Ryosan Co., Ltd. Jun 2022 Outside Audit & Supervisory Board Member, Overseas Transportation and Urban Development Business Support Organization (current) May 2024 Outside Audit & Supervisory Board Member, the Company (current) Jun 2025 Outside Director, BIPROGY Inc. (current) Jun 2025 Outside Director, Senko Group Holdings Co., Ltd. (current)
1970-10-16
Naomi MORI
Audit & Supervisory Board Member
Oct 1997 Joined Deloitte Tohmatsu (now Deloitte Tohmatsu LLC) Nov 1998 Joined Asahi & Co. (now Ernst & Young ShinNihon LLC) Dec 2013 Joined Sato Makoto Certified Public Accountant Office Oct 2014 Full-time Outside Audit & Supervisory Board Member, Raksul Inc. Jul 2016 Opened Naomi Mori Certified Public Accountant Office, Principal (current) Oct 2019 Outside Director (Audit and Supervisory Committee Member), Raksul Inc. Jun 2022 Outside Audit & Supervisory Board Member, Modulus Inc. (now Alivexis Inc.) (current) Dec 2022 Outside Director (Audit and Supervisory Committee Member), Atrae, Inc. (current) Mar 2026 Outside Audit & Supervisory Board Member, With One Co., Ltd. (current) May 2026 Outside Audit & Supervisory Board Member, the Company (current)
1972-05-12
Large Shareholding Reports
Makitec Co., Ltd.
2026-03-26
11.56%→8.59%
Annual report (as of 2026-08-31): 8.73%
Makitec Co., Ltd.
2026-03-25
11.54%→8.66%
Annual report (as of 2026-08-31): 8.73%
Koutsushin Co., Ltd.
2026-03-05
7.39%→7.39%
Koutsushin Co., Ltd.
2025-09-29
7.39%→7.39%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-15
Semi-Annual Securities Report
Period: Mar 2026 – Feb 2027
TDnet
2026-10-15
Q2 Earnings Flash
FY ending Feb 2027
TDnet
2026-07-15
Q1 Earnings Flash
FY ending Feb 2027
EDINETAmended
2026-06-19
Amended Annual Securities Report
Period: Mar 2025 – Feb 2026
EDINET
2026-05-22
Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2026-04-14
Full-Year Earnings Flash
FY ending Feb 2026
EDINETAmended
2026-03-26
Change Report
EDINET
2026-03-25
Large Shareholding Report
EDINET
2026-03-05
Large Shareholding Report
TDnet
2026-01-14
Q3 Earnings Flash
FY ending Feb 2026
TDnet
2025-12-19
業績予想の修正
FY ending Feb 2026
EDINET
2025-10-14
Semi-Annual Securities Report
Period: Mar 2025 – Feb 2026
TDnet
2025-10-14
業績予想の修正
FY ending Feb 2026
EDINET
2025-09-29
Large Shareholding Report
TDnet
2025-07-15
Q1 Earnings Flash
FY ending Feb 2026
EDINET
2025-05-23
Annual Securities Report
Period: Mar 2024 – Feb 2025
EDINET
2025-01-24
Securities Registration Statement
TDnet
2025-01-14
Q3 Earnings Flash
FY ending Feb 2025
EDINET
2024-10-11
Semi-Annual Securities Report
Period: Mar 2024 – Feb 2025
TDnet
2024-07-12
Q1 Earnings Flash
FY ending Feb 2025
EDINET
2024-07-12
Quarterly Securities Report
Period: Mar 2024 – May 2024
EDINET
2024-05-31
Annual Securities Report
Period: Mar 2023 – Feb 2024
EDINET
2024-01-15
Quarterly Securities Report
Period: Sep 2023 – Nov 2023
EDINET
2023-10-16
Quarterly Securities Report
Period: Jun 2023 – Aug 2023
EDINETAmended
2023-10-16
Amended Securities Registration Statement
EDINETAmended
2023-10-13
Amended Securities Registration Statement
EDINET
2023-10-12
Securities Registration Statement
EDINET
2023-07-14
Quarterly Securities Report
Period: Mar 2023 – May 2023
EDINET
2023-05-26
Annual Securities Report
Period: Mar 2022 – Feb 2023
EDINET
2023-01-16
Quarterly Securities Report
Period: Sep 2022 – Nov 2022
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