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Overview

Real Estate

MIGALO HOLDINGS Inc.

Migalo Holdings operates two core business segments: DX Promotion and DX Real Estate. The DX Promotion segment offers facial recognition platform services (FreeiD) as a smart city solution, cloud integration services leveraging generative AI, and AWS-based DX system development. The DX Real Estate segment combines digital marketing, AI-driven automation, and a proprietary member database to support new condominium development/sales for investors and end-users, secondary market matching (Smart Second), real estate crowdfunding (Rimple), and property/building management services.

Market Cap

¥16.5B

US$105M

¥44.7B

US$285M

Stock¥257▼-2.65%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

14.1

LTM EV/EBIT

14.5

LTM PER

11.2

LTM PBR

1.1

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-64.8%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

MC → EV Bridge

AI Briefing

Migalo Holdings: DX-driven holding co. spanning facial recognition (FreeiD) smart city tech and full-suite DX real estate (development, crowdfunding, property management). FY26/3 revenue ¥57.5B, OP ¥3.1B (5.3% margin), continuing steady growth from FY25/3's ¥51.7B/¥2.7B. Top holder アールジェイピー at 47.91% signals concentrated control; EV ¥45.7B vs ¥17.6B market cap reflects heavy leverage (¥37.0B debt) against EBITDA LTM ¥3.2B.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

29%

71%

EquityD/E 2.42xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 58.2%

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

RJP Co., Ltd.

47.91%

Shunichi KATONO

2.76%

Mami SEO

2.73%

Takako SATO

1.30%

Tokyo Tanshi Co., Ltd.

0.89%

Mitsubishi UFJ eSmart Securities Co., Ltd.

0.67%

Yoshinao NORODA

0.60%

Takashi MURATA

0.45%

Fumitaka NAGAI

0.44%

Isao OGUCHI

0.41%

Management

8 officers

Satoshi NAKANISHI

Representative Director, President

Jun 1992 Joined Nishisuna Construction Co., Ltd. Jul 1997 Joined Oho Keikaku Co., Ltd. Oct 1998 Joined Vell Systems Co., Ltd. Feb 2004 Established Property Agent Co., Ltd.; appointed Representative Director, President (current) Dec 2004 Appointed Director, Life Space Creation Co., Ltd. Apr 2010 Appointed Director, Nihon Property Development Co., Ltd. (current) Aug 2020 Appointed Representative Director, DXYZ Co., Ltd. (current) Apr 2021 Appointed Director, Avant Co., Ltd. Nov 2021 Appointed Representative Director, TIERO Co., Ltd. (formerly Burners Co., Ltd.) (current) Oct 2023 Appointed Representative Director of the Company (current) Oct 2024 Appointed Representative Director, Best Practices Co., Ltd. (now TIERO Co., Ltd.)

1977-02-08

Takashi MURATA

Director

Feb 2006 Joined Property Agent Co., Ltd. Oct 2014 Appointed Director, Property Agent Co., Ltd. (current) Oct 2023 Appointed Director of the Company (current) Jan 2024 Appointed Representative Director, AKI Commerce Co., Ltd. (current) Appointed Representative Director, Associa Property Co., Ltd. (current)

1979-12-09

Koji IWASE

Director; General Manager, Corporate Planning Department; General Manager, Finance and Accounting Department; General Manager, General Affairs and Human Resources Department

Dec 2006 Joined Deloitte Touche Tohmatsu LLC Oct 2011 Transferred to Deloitte Tohmatsu Financial Advisory Co., Ltd. Oct 2014 Joined Property Agent Co., Ltd. Jun 2015 Appointed Director, Property Agent Co., Ltd. (current) Apr 2021 Appointed Audit & Supervisory Board Member, Avant Co., Ltd. (current) Oct 2023 Appointed Director of the Company (current) Oct 2025 Appointed Audit & Supervisory Board Member, U System Creation Co., Ltd. (current)

1983-07-21

Motohiro IKAWA

Director

Sep 1988 Joined Fuyo Housing Co., Ltd. Jan 1993 Joined City Estate Co., Ltd. Nov 1993 Joined Green Frontier Co., Ltd. Jun 1996 Joined Sanei Architectural Design Co., Ltd. Aug 1999 Established Residest Co., Ltd.; appointed Representative Director (current) Jun 2018 Appointed Director, Property Agent Co., Ltd. Oct 2023 Appointed Director of the Company (current)

1965-06-15

Keigo KURODA

Director

Apr 1995 Joined Sharp Corporation Jul 2000 Joined UBS Securities Jun 2002 Joined Lone Star Japan Acquisitions, Ltd. Sep 2007 Joined Blackstone Group Japan K.K. Oct 2013 Appointed Representative Director, CrossPath Advisors Co., Ltd. (current) Jun 2020 Appointed Director, Property Agent Co., Ltd. Oct 2023 Appointed Director of the Company (current)

1972-09-22

Ryoichi NAGASHIMA

Full-time Audit & Supervisory Board Member

Apr 1982 Joined Mitsui Oil Exploration Co., Ltd. Dec 1992 Joined Map International Co., Ltd. Dec 1994 General Manager, Administration Division, Map International Co., Ltd. Aug 2000 Joined Infoplant Co., Ltd.; General Manager, Corporate Planning Office Oct 2001 Director; General Manager, Administration Division, Infoplant Co., Ltd. Nov 2005 Executive Officer; General Manager, Finance Division Oct 2010 Joined Cross Marketing Inc.; General Manager, Business Management Department Oct 2011 Audit & Supervisory Board Member, Cross Communication Co., Ltd. Jan 2012 Joined Deep Impact Co., Ltd. Jun 2014 Appointed Audit & Supervisory Board Member, Property Agent Co., Ltd. (current) Oct 2023 Appointed Audit & Supervisory Board Member of the Company (current)

1958-07-25

Kohei NAKAGAWA

Part-time Audit & Supervisory Board Member

Apr 2001 Entered the Legal Training and Research Institute of the Supreme Court of Japan Oct 2002 Registered with the Daiichi Tokyo Bar Association Oct 2002 Joined TMI Associates Jan 2013 Partner, TMI Associates May 2014 Registered as attorney, New York State Bar Apr 2016 Visiting Associate Professor, University of Tokyo Law School Feb 2017 Established NEXAGE Law Office Jun 2017 Appointed Audit & Supervisory Board Member, Property Agent Co., Ltd. Mar 2018 Audit & Supervisory Board Member, Slogan Co., Ltd. Jan 2019 Audit & Supervisory Board Member, Foodison Inc. (current) Jun 2022 Audit & Supervisory Board Member, Arivexis Co., Ltd. (current) Oct 2023 Appointed Audit & Supervisory Board Member of the Company (current)

1977-10-02

Seichi KIM

Part-time Audit & Supervisory Board Member

Mar 2009 Joined Deloitte Touche Tohmatsu LLC Jun 2014 Joined Repryce Co., Ltd.; General Manager, Corporate Planning Office Apr 2017 Concurrently Head of IPO Preparation Office and Head of Internal Audit Office, Catitas Co., Ltd. Apr 2018 General Manager, Corporate Planning Office and Internal Audit Office, Catitas Co., Ltd.; General Manager, Administration Department and Corporate Planning Office, Repryce Co., Ltd. Sep 2020 Established I3 Co., Ltd.; appointed Representative Director, President (current) Jun 2023 Appointed Audit & Supervisory Board Member, Property Agent Co., Ltd. Oct 2023 Appointed Audit & Supervisory Board Member of the Company (current)

1987-01-13

Large Shareholding Reports

RJP Co., Ltd.

2025-10-08

52.37%→52.35%

Annual report (as of 2026-03-31): 47.91%

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-06

Q1 Earnings Flash

FY ending Mar 2027

MIGALO HOLDINGS Inc.

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MIGALO HOLDINGS Inc.

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