Overview
Real Estate

GOLDCREST Co.,Ltd.

Gold Crest is a Tokyo-based real estate developer focused primarily on the planning, development, and sale of new condominium units in high-demand areas of the Greater Tokyo metropolitan area, operating under flagship brands such as 'Crest City,' 'Crest Form,' and 'Crest Tower.' The company also engages in real estate leasing (office buildings and apartments), property management services for its condominium portfolio, and hotel operations through wholly-owned properties. Since its founding in 1992, the company has delivered over 30,000 units, establishing a strong track record in the metropolitan condominium market.

Market Cap
¥96.5B
US$615M
EV
¥187B
US$1.19B
Stock¥2,905▲+1.50%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
12.5
x
LTM EV/EBIT
13.4
x
LTM PER
10.5
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-35.7%pt
10012
Oct 23, 25 – Oct 23, 26StockTOPIX
1Feb 6, 26Strategic Capital, Inc. changed stake (14.13%→14.67%)
2Jul 7, 26Strategic Capital, Inc. changed stake (14.67%→16.28%)
MC → EV Bridge
96.5BUS$615MMarket Cap169BUS$1.07B+ Debt63.2BUS$402M− Cash14.9BUS$94.9M− Inv. Sec.187BUS$1.19BEV
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Performance & Balance
Revenue 5Y (¥B)
34.2US$218M'22/327.5US$175M'23/324.8US$158M'24/329.3US$187M'25/330.4US$194M'26/3
EBITDA 5Y (¥B)
12.5US$79.6M'22/311.5US$73.2M'23/36.58US$41.9M'24/38.53US$54.3M'25/39.90US$63.0M'26/3
Net Income 5Y (¥B)
7.60US$48.4M'22/37.03US$44.8M'23/33.75US$23.9M'24/35.01US$31.9M'25/35.86US$37.3M'26/3
Capital Structure
45%
55%
EquityD/E 1.20xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
82.7US$527M48.9US$311M'22/374.7US$476M48.9US$311M'23/378.2US$498M50.2US$320M'24/392.7US$590M76.1US$485M'25/373.3US$467M169US$1.07B'26/3
Shareholders
Top 10 hold 87.2%
1
Mu Asset Co., Ltd.
48.44%
2
INTERTRUST TRUSTEES (CAYMAN)LIMITED SOLEL Y IN ITS CAPACITY AS TRUSTEE OF JAPAN-UP (Standing Proxy: Mizuho Bank, Ltd.)
16.25%
3
SD Support Co., Ltd.
8.12%
4
NORTHERN TRUST CO.(AVFC) RE FIDELITY FUNDS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)
4.10%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
3.71%
6
Hidetoshi YASUKAWA
3.12%
7
BNP PARIBAS SINGAPORE/2S/JASDEC/TD SECURITIES (USA) LLC/BOOK-ENTRY JGBS+CORPORATE BONDS/TAXABLE (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)
1.12%
8
Custody Bank of Japan, Ltd. (Trust Account)
0.94%
9
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
0.68%
10
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)
0.67%
Management
9 officers
Hidetoshi YASUKAWA
Representative Director, President
Jan 1992: Founded the Company; assumed office as Representative Director, President (current) (Concurrent positions at other companies) Jul 1999: Representative Director, Goldcrest Community Co., Ltd. Jun 2013: Representative Director, Family Finance Co., Ltd.
1961-06-05
Masaki ITO
Managing Director
Apr 1994: Joined the Company Nov 2003: Deputy General Manager, Planning and Development Department, the Company Jan 2013: General Manager, Administration Department, the Company Jun 2013: Director, the Company Jun 2021: Managing Director, the Company (current) (Concurrent positions at other companies) May 2013: Representative Director, Jyuhan Service Co., Ltd. Mar 2016: Representative Director, Goldcrest Housing Sales Co., Ltd. May 2016: Representative Director, Hamamatsucho Hotel Management Co., Ltd.
1971-06-08
Yusuke SHINOHARA
Director
Apr 2001: Joined the Company Apr 2009: Seconded to Success Pro Co., Ltd. Apr 2023: General Manager, Golf Business Division, Success Pro Co., Ltd. Jun 2025: Director, the Company (current)
1978-08-19
Masao TSUMURA
Director (Non-Executive)
Apr 1985: Registered as an attorney-at-law; joined Tokyo Bar Association Sep 1994: Joined Hino Kyuzaburo Law Office Sep 1994: Opened Tsumura Law Office (current) Jun 2012: Director (Non-Executive), the Company (current)
1954-05-17
Ryukichi TANAKA
Director (Non-Executive)
Apr 1974: Joined Takenaka Corporation Mar 2010: Executive Officer, General Manager, Design Division, Takenaka Corporation Mar 2012: Managing Executive Officer, Takenaka Corporation Mar 2015: Senior Managing Executive Officer, Takenaka Corporation Mar 2018: Advisor, Takenaka Corporation Jun 2022: Director (Non-Executive), the Company (current)
1950-03-13
Masanori TAKABATAKE
Director (Non-Executive)
Apr 1986: Joined Yasuda Trust & Banking Co., Ltd. (now Mizuho Trust & Banking Co., Ltd.) Apr 2008: General Manager, Real Estate Sales Division No. 5, Mizuho Trust & Banking Co., Ltd. Apr 2015: Executive Officer, General Manager, Real Estate Sales Division No. 2, Mizuho Trust & Banking Co., Ltd. Apr 2017: Managing Director, Mizuho Real Estate Sales Co., Ltd. Apr 2024: Director and Vice President, Senior Vice President Executive Officer, Mizuho Real Estate Sales Co., Ltd. Jun 2026: Director (Non-Executive), the Company (scheduled to assume office)
1962-12-24
Ei TSUDA
Full-time Audit & Supervisory Board Member
Apr 1973: Joined Penta-Ocean Construction Co., Ltd. Jun 2000: Director, Penta-Ocean Construction Co., Ltd. Apr 2002: Managing Director, Penta-Ocean Construction Co., Ltd. May 2006: Representative Director and Senior Managing Executive Officer, Penta-Ocean Construction Co., Ltd. Oct 2010: Representative Director and Executive Vice President, Penta-Ocean Construction Co., Ltd. Apr 2016: Advisor, Penta-Ocean Construction Co., Ltd. Apr 2017: Joined the Company as Advisor Jun 2017: Director, the Company Jun 2021: Full-time Audit & Supervisory Board Member, the Company (current)
1951-03-23
Jun OZEKI
Audit & Supervisory Board Member
Apr 1979: Joined Tokyo Regional Taxation Bureau Jan 1984: Joined Asahi Accounting Firm (now Azsa LLC) May 2004: Representative Partner, Asahi Accounting Firm Jul 2016: Representative, Certified Public Accountant Ozeki Accounting Office (current) Jun 2017: Outside Director (Audit and Supervisory Committee Member), Technomedica Co., Ltd. (current) Mar 2020: Outside Director (Audit and Supervisory Committee Member), UMC Electronics Co., Ltd. (current) Apr 2021: Representative Partner, Chiyoda Tax Accountants Corporation (current) Jun 2021: Audit & Supervisory Board Member, the Company (current)
1956-04-03
Hiroshi OSHIKIRI
Audit & Supervisory Board Member
Apr 1978: Joined the Metropolitan Police Department Feb 2013: Deputy Chief, Omori Police Station Mar 2014: Director, Metropolitan Police Department Life Safety Consultation Center Sep 2015: Superintendent General; retired from the Metropolitan Police Department Oct 2015: Joined Japan Securities Finance Co., Ltd. Jun 2021: Audit & Supervisory Board Member, the Company (current)
1955-07-21
Large Shareholding Reports
Strategic Capital Co., Ltd.
2026-07-07
14.67%→16.28%
Fidelity Management & Research Company LLC
2026-06-18
5.09%→3.87%
FMR LLC
2026-06-18
—
FMR LLC
2026-06-18
—
Fidelity Management & Research Company LLC
2026-06-18
5.98%→5.98%
FMR LLC
2026-06-18
—
FMR LLC
2026-06-18
—
Fidelity Management & Research Company LLC
2026-06-18
6.09%→5.98%
Fidelity Management & Research Company LLC
2026-06-18
6.23%→5.09%
Fidelity Management & Research Company LLC
2026-06-18
5.98%→6.02%
FMR LLC
2026-06-18
—
Fidelity Management & Research Company LLC
2026-06-10
6.30%→6.09%
FMR LLC
2026-06-10
—
FMR LLC
2026-03-06
5.09%→3.87%
Strategic Capital Co., Ltd.
2026-02-06
14.13%→14.67%
Strategic Capital Co., Ltd.
2025-08-05
13.10%→14.13%
Strategic Capital, Inc.
2024-12-19
12.04%→13.10%
Strategic Capital, Inc.
2024-10-16
11.03%→12.04%
Strategic Capital, Inc.
2024-09-19
10.00%→11.03%
Strategic Capital, Inc.
2024-08-13
9.00%→10.00%
Strategic Capital, Inc.
2024-04-05
8.35%→9.00%
Strategic Capital, Inc.
2023-10-16
7.29%→8.35%
Strategic Capital, Inc.
2023-09-27
6.08%→7.29%
Strategic Capital, Inc.
2023-09-07
5.05%→6.08%
Strategic Capital, Inc.
2023-08-08
5.05%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-07
Large Shareholding Report
EDINET
2026-06-18
Large Shareholding Report
EDINET
2026-06-18
Large Shareholding Report
EDINETAmended
2026-06-18
Change Report
EDINET
2026-06-18
Large Shareholding Report
EDINET
2026-06-18
Large Shareholding Report
EDINETAmended
2026-06-18
Change Report
EDINETAmended
2026-06-18
Change Report
EDINETAmended
2026-06-18
Change Report
EDINET
2026-06-18
Large Shareholding Report
EDINETAmended
2026-06-18
Change Report
EDINET
2026-06-17
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-10
Large Shareholding Report
EDINETAmended
2026-06-10
Change Report
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-02-06
Large Shareholding Report
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-08-05
Large Shareholding Report
TDnet
2025-07-28
Q1 Earnings Flash
FY ending Mar 2026
EDINETAmended
2025-07-25
Amended Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINET
2025-06-23
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-12-19
Large Shareholding Report
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Sep 2024
EDINET
2024-10-16
Large Shareholding Report
EDINET
2024-09-19
Large Shareholding Report
EDINET
2024-08-13
Large Shareholding Report
TDnet
2024-07-31
Q1 Earnings Flash
FY ending Mar 2025
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