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Overview

Real Estate

COSMOS INITIA Co.,Ltd.

Cosmos Initia is a diversified real estate company operating across four segments: Residential (development and sale of new condominiums under the 'INITIA' brand, active senior condominiums 'INITIA Gran', detached homes, and renovated condominiums), Solutions (development and sale of income-generating properties, sublease management, and shared office/residence operations), Hospitality (apartment hotel 'MIMARU' and outdoor resort 'ETOWA'), and Construction (office fit-out and renovation works). The company also conducts real estate development in Australia and the United States through consolidated subsidiaries, and is a member of the Daiwa House Group following a capital and business alliance established in 2013.

Market Cap

¥37.9B

US$242M

¥131B

US$833M

Stock¥1,120▼-1.58%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

12.8

LTM EV/EBIT

13.1

LTM PER

6.3

LTM PBR

0.7

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-35.5%pt

Oct 24, 25 – Oct 23, 26StockTOPIX

1Nov 10, 25Profit-taking after interim earnings

2Aug 7, 26Q1 FY2027/03 earnings announced

MC → EV Bridge

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Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

31%

69%

EquityD/E 2.25xDebt

Liquidity vs Debt 5Y (¥B)▼ Net Debt

CashInv. Sec.Debt

Shareholders

Top 10 hold 71.7%

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

DAIWA HOUSE INDUSTRY CO.,LTD.

38.20%

KYORITSU MAINTENANCE CO.,LTD.

25.02%

Hisanao MITSU

1.63%

MURAKAMI TAKATERU (Standing Proxy: Mita Securities Co., Ltd.)

1.57%

Takeshi YAMAJI

1.03%

Yoichi ENDA

0.97%

GOLDMAN SACHS BANK EUROPE SE (Standing Proxy: Goldman Sachs Japan Co., Ltd.)

0.89%

UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT (Standing Proxy: Citibank, N.A., Tokyo Branch)

0.89%

Akihiko TOKITSU

0.87%

Custody Bank of Japan, Ltd. (Trust Account)

0.67%

Management

12 officers

Ryota TAKACHI

Representative Director, President and Executive Officer

Apr 1990 Joined the Company Apr 2015 Executive Officer; Branch Manager, Western Japan Branch, Residential Division Apr 2019 Managing Executive Officer; General Manager, Solutions Division; Head of Rental Business Department, Solutions Division Jun 2019 Director Oct 2020 Representative Director, President (current); President and Executive Officer (current) Apr 2021 General Manager, Residential Division

1967-04-14

Sayuri OKAMURA

Director, Senior Managing Executive Officer; General Manager, Management Administration Division

Apr 1987 Joined the Company Apr 2014 Executive Officer Apr 2015 Deputy General Manager, Management Administration Division Apr 2017 Managing Executive Officer; General Manager, Residential Division; Head of Condominium Sales Department, Residential Division Jun 2017 Director (current) Apr 2019 Senior Managing Executive Officer (current) Apr 2021 General Manager, Management Administration Division (current) Jun 2025 Director, GOOD PLACE Co., Ltd. (current)

1964-04-26

Kazuhiko MORITA

Director, Managing Executive Officer; General Manager, Construction Division

Apr 1989 Joined the Company Feb 2016 Director, Daiwa Cosmos Construction Co., Ltd. Apr 2017 Deputy General Manager, Construction Division May 2018 Director, Ramza Urban Development Co., Ltd. (current) Apr 2022 Managing Executive Officer; General Manager, Construction Division (current) Jun 2022 Director (current)

1965-07-09

Shinya TAMASAKI

Director, Managing Executive Officer; General Manager, Planning & Development Division

Apr 1991 Joined the Company Oct 2012 Manager, Ownership Department, Rental Business Division, Real Estate Solutions Division Oct 2014 Manager, Planning & Development Section 1, Condominium Business Division, Residential Sales Division Apr 2017 Manager, Hotel Business Promotion Department, R&D Division Oct 2017 Director, Cosmos Hotel Management Co., Ltd. Apr 2019 Executive Officer; General Manager, Solutions Business Division, Solutions Division Apr 2022 Managing Executive Officer; General Manager, Planning & Development Division (current) Apr 2025 Head of Solutions and Hotel Business Unit, Planning & Development Division Jun 2025 Director (current)

1967-08-26

Hirohisa NAJIMA

Director

Apr 1983 Joined Daiwa House Industry Co., Ltd. Sep 2016 Executive Officer, Daiwa House Industry Co., Ltd.; General Manager, Consolidated Management Department, Corporate Management Division (current) Sep 2016 Audit & Supervisory Board Member, Daiwa Life Next Co., Ltd. Jun 2017 Director, the Company Apr 2020 Senior Executive Officer, Daiwa House Industry Co., Ltd. (current) Jun 2024 Outside Director, the Company (current) Apr 2025 Senior Executive Officer, Daiwa House Industry Co., Ltd.; in charge of Accounting Dec 2025 General Manager, Accounting Department, Corporate Management Division, Daiwa House Industry Co., Ltd. (current)

1961-03-15

Norio TOGASHI

Director

Sep 1983 Joined Shintaku Daiwa House Co., Ltd. Apr 2000 Joined Daiwa House Industry Co., Ltd. Jun 2012 President and Representative Director, Daiwa Homes Online Co., Ltd. Apr 2018 Executive Officer, Daiwa House Industry Co., Ltd.; General Manager, Condominium Business Promotion Division Jun 2018 Director, the Company Oct 2020 General Manager, Condominium Business Division, Daiwa House Industry Co., Ltd. Apr 2023 General Manager, Metropolitan Condominium Business Division, Tokyo Head Office, Daiwa House Industry Co., Ltd. Apr 2024 Senior Executive Officer, Daiwa House Industry Co., Ltd. (current) Director, Daiwa Life Next Co., Ltd. (current) Jun 2024 Outside Director, the Company (current) Apr 2025 General Manager, Condominium Business Division, Housing Solutions Division, Daiwa House Industry Co., Ltd. (current) Apr 2026 General Manager, Tokyo Head Office, Daiwa House Industry Co., Ltd. (current)

1963-11-20

Yoshio KOIKE

Director

Apr 1991 Joined The Taiyo Kobe Mitsui Bank, Ltd. (now Sumitomo Mitsui Banking Corporation) Apr 2017 General Manager, Roppongi Corporate Sales Department, Sumitomo Mitsui Banking Corporation Apr 2019 General Manager, Shinjuku Nishiguchi Corporate Sales Department II, Sumitomo Mitsui Banking Corporation Apr 2021 General Manager (attached), Wholesale Division, Sumitomo Mitsui Banking Corporation Apr 2022 Seconded to Kyoritsu Maintenance Co., Ltd. Apr 2023 Joined Kyoritsu Maintenance Co., Ltd.; General Manager, Corporate Planning Department Apr 2024 General Manager, Corporate Planning Division, Kyoritsu Maintenance Co., Ltd. (current) Jun 2024 Outside Director, the Company (current) Apr 2026 Executive Officer, Kyoritsu Maintenance Co., Ltd. (current)

1967-11-12

Koichi SHIMA

Director

May 1983 Joined Nihon Recruit Center Co., Ltd. (now Recruit Holdings Co., Ltd.) Jun 1997 Director, Recruit FromA Co., Ltd. (now Recruit Co., Ltd.) Apr 2003 Executive Officer (in charge of Finance, General Affairs and Legal), Recruit Co., Ltd. (now Recruit Holdings Co., Ltd.) Jan 2006 Executive Officer; General Manager, Marketing Division, Recruit Co., Ltd. Apr 2008 President and Representative Director, Recruit Media Communications Co., Ltd. (now Recruit Co., Ltd.) Jun 2010 Full-time Audit & Supervisory Board Member, Recruit Co., Ltd. Oct 2012 Full-time Audit & Supervisory Board Member, Recruit Holdings Co., Ltd. Sep 2016 Outside Audit & Supervisory Board Member, GREE, Inc. (now GREE Holdings, Inc.) Apr 2018 Outside Director (Audit and Supervisory Committee Member), GREE Holdings, Inc. (current) Outside Director, Rigua Inc. Outside Director (Audit and Supervisory Committee Member), Nihon Denkai, Ltd. May 2020 Outside Director, Kitanotatsujin Corporation (current) Jun 2020 Outside Director, the Company (current) Jun 2022 Outside Director (Audit and Supervisory Committee Member), UT Group Co., Ltd. (current)

1957-12-05

Wataru EBATA

Director

Apr 1981 Joined Mitsui & Co., Ltd. Apr 2012 General Manager, Corporate Investment Department, Financial & New Business Development Division, Mitsui & Co., Ltd. Oct 2014 Seconded to Moshi Moshi Hotline, Inc. (now Relia, Inc.) Jun 2015 Director, Moshi Moshi Hotline, Inc. (in charge of Sales Promotion, Overseas Business, Diversity and CSR) Chairman, Mengshi Rexian Information (Dalian) Co., Ltd. Director, iVisit Co., Ltd. Director, Voice Next Co., Ltd. Jun 2018 Managing Director, Relia, Inc. (in charge of International Business Division); Chairman, Inspiro Relia, Inc. and Infocom Technologies, Inc. (Philippines) Jun 2019 Joined Seven Bank, Ltd.; Chairman, Pito AxM Platform Inc. (Philippines) Jun 2023 Outside Director, the Company (current)

1958-02-04

Satoshi OOTO

Director (Full-time Audit and Supervisory Committee Member)

Apr 1988 Joined the Company Apr 2019 General Manager, Corporate Planning Department, Management Administration Division Jun 2019 Audit & Supervisory Board Member, Cosmos More Co., Ltd. (now GOOD PLACE Co., Ltd.); Audit & Supervisory Board Member, Cosmos Life Support Co., Ltd.; Audit & Supervisory Board Member, Cosmos Hotel Management Co., Ltd. Apr 2020 Executive Officer, the Company Jun 2021 Director (Full-time Audit and Supervisory Committee Member), the Company (current)

1965-03-17

Junko SHIRAKAWA

Director (Audit and Supervisory Committee Member)

Apr 1986 Joined the Company Apr 1995 Assistant Judge Apr 2005 Judge Jun 2006 Joined Kasumigaseki Law & Accounting Office Jan 2007 Partner, Kasumigaseki Law & Accounting Office Mar 2015 Opened Shin-Kasumigaseki Law Office; Partner (current) Outside Director (Audit and Supervisory Committee Member), the Company (current) Jun 2019 Outside Audit & Supervisory Board Member, AMBL Co., Ltd.

1965-01-07

Hideki ONO

Director (Audit and Supervisory Committee Member)

Oct 1986 Joined Sanwa Totsumatsu Aoki Audit Corporation (now Deloitte Touche Tohmatsu LLC) Jun 1990 Registered as Certified Public Accountant May 2000 Partner, Sanwa Totsumatsu Aoki Audit Corporation Oct 2013 Executive (in charge of Human Resources), Sanwa Totsumatsu Aoki Audit Corporation Jun 2020 General Manager, IPO Strategy Office, Sanwa Totsumatsu Aoki Audit Corporation Oct 2023 Opened Hideki Ono Certified Public Accountant Office (current) Jun 2024 Outside Audit & Supervisory Board Member, JACCS Co., Ltd. (current) Sep 2024 Independent Non-Executive Director, Bloom Audit Corporation (current) Jun 2025 Outside Director (Audit and Supervisory Committee Member), the Company (current)

1961-09-20

Large Shareholding Reports

No filings

Disclosures

No disclosures

Primary Source Filings

TDnet

2026-08-05

Q1 Earnings Flash

FY ending Mar 2027

COSMOS INITIA Co.,Ltd.

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COSMOS INITIA Co.,Ltd.

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