Overview
Real Estate

ESLEAD CORPORATION

S-LEAD is a comprehensive real estate company headquartered in Osaka, primarily engaged in the development and sale of condominium units under the 'S-LEAD' brand across the Kansai, Kyushu, and Tokai regions. The company offers an integrated suite of real estate services including condominium and detached housing sales, property management, rental management, real estate brokerage and resale, construction and renovation, and hotel operations. As a subsidiary of Mori Trust Co., Ltd., S-LEAD leverages its parent group's resources to expand its business scope, including real estate securitization, digital marketing, electricity supply, and building maintenance services.

Market Cap
¥78.2B
US$499M
EV
¥244B
US$1.56B
Stock¥5,070▲+0.80%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
12.0
x
LTM EV/EBIT
12.4
x
LTM PER
6.8
x
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-34.6%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
78.2BUS$499MMarket Cap187BUS$1.20B+ Debt21.1BUS$134M− Cash0.69BUS$4.38M− Inv. Sec.244BUS$1.56BEV
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Performance & Balance
Revenue 5Y (¥B)
74.6US$476M'22/379.9US$510M'23/380.3US$512M'24/394.8US$604M'25/3117US$746M'26/3
EBITDA 5Y (¥B)
8.98US$57.3M'22/39.86US$62.9M'23/312.1US$77.4M'24/315.1US$96.1M'25/319.1US$122M'26/3
Net Income 5Y (¥B)
5.43US$34.6M'22/36.15US$39.2M'23/37.52US$47.9M'24/39.33US$59.5M'25/311.2US$71.2M'26/3
Capital Structure
31%
69%
EquityD/E 2.26xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
28.1US$179M44.6US$285M'22/327.0US$172M61.9US$394M'23/316.8US$107M86.6US$552M'24/331.7US$202M141US$898M'25/318.0US$115M171US$1.09B'26/3
Shareholders
Top 10 hold 64.7%
1
Mori Trust Co., Ltd.
53.72%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.21%
3
Sugio ARAMAKI
2.01%
4
SMBC Nikko Securities Inc.
1.36%
5
Custody Bank of Japan, Ltd. (Trust Account)
0.78%
6
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
0.43%
7
JP MORGAN CHASE BANK 385642 (Standing Proxy: Mizuho Bank, Ltd.)
0.31%
8
DFA INTL SMALL CAP VALUE PORTFOLIO (Standing Proxy: Citibank, N.A., Tokyo Branch)
0.29%
9
JPMorgan Securities Japan Co., Ltd.
0.28%
10
Hideo MASUOKA
0.27%
Management
14 officers
Sugio ARAMAKI
Representative Director, President
Apr 1979 Joined Daikyo Kanko Co., Ltd. (currently Daikyo Incorporated) May 1992 Established the Company; Representative Director, President (current)
1956-08-29
Koji TOI
Senior Managing Director, General Manager of Business Division
Mar 1997 Joined the Company Apr 2015 General Manager, Business Division No. 1 Department Apr 2016 General Manager, Business Division Jun 2016 Director, General Manager of Business Division Jun 2019 Managing Director, General Manager of Business Division Jun 2023 Senior Managing Director, General Manager of Business Division (current)
1973-03-30
Takeo OBA
Senior Managing Director, General Manager of Sales Division
Mar 1997 Joined the Company Apr 2008 General Manager, Sales Division No. 4 Department Jun 2012 Director, General Manager of Sales Division No. 4 Department Apr 2017 Director, General Manager of Sales Division Jun 2017 Managing Director, General Manager of Sales Division Jun 2019 Senior Managing Director, General Manager of Sales Division (current)
1973-07-21
Masaaki FUJINO
Senior Managing Director
Apr 1982 Joined Osaka Gas Co., Ltd. Apr 2019 Representative Director, President, Soden Co., Ltd. Apr 2021 Representative Director, President, S-Lead Building Management Co., Ltd. (current) Jun 2022 Director of the Company Jun 2024 Managing Director of the Company Jun 2026 Senior Managing Director of the Company (current)
1963-06-05
Masanori MAIKUMA
Managing Director, Deputy General Manager of Business Division
Apr 1989 Joined Daiwa House Industry Co., Ltd. Jan 1996 Joined Nihon Lease Co., Ltd. Feb 1999 Joined I.D. System Co., Ltd. Feb 2000 Joined Daikyo Incorporated Feb 2002 Joined Central Sogo Development Co., Ltd. May 2012 Joined the Company May 2013 Joined Wada Kosan Co., Ltd. Nov 2015 Joined the Company Apr 2016 General Manager, Business Department Oct 2018 General Manager, Business Department and Manager, Nagoya Branch Jun 2019 Director, Deputy General Manager of Business Division and Manager, Nagoya Branch Jun 2023 Managing Director, Deputy General Manager of Business Division and Manager, Nagoya Branch Apr 2024 Managing Director, Deputy General Manager of Business Division (current)
1966-02-12
Daisuke OGURA
Director, Deputy General Manager of Sales Division
Mar 1997 Joined the Company Apr 2016 General Manager, Sales Division No. 4 Department Jun 2019 Director, Deputy General Manager of Sales Division (current)
1974-04-28
Motoki OSHIRO
Director, Deputy General Manager of Sales Division
Apr 2005 Joined the Company Apr 2016 General Manager, Sales Division No. 5 Department Jun 2019 Director, Deputy General Manager of Sales Division (current)
1981-10-07
Isao NAGURA
Director, Deputy General Manager of Business Division
Apr 1990 Joined Sumitomo Bank, Ltd. (currently Sumitomo Mitsui Banking Corporation) May 2020 Seconded to the Company Apr 2021 Joined the Company; General Manager, Business Department Jun 2021 Director, Deputy General Manager of Business Division (current)
1966-07-08
Hitoshi YONEZU
Director, Audit and Supervisory Committee Member
Jul 1994 Joined Chuo Romu Office as Office Manager Apr 2003 Left Chuo Romu Office Oct 2004 Director, Y's Consultants Co., Ltd. (current) Sep 2008 Registered as Certified Tax Accountant; opened Yonezu Tax Accounting Office, Principal (current) Jun 2016 Director, Audit and Supervisory Committee Member of the Company (current)
1957-08-13
Tomoyuki HANDA
Director
Apr 1988 Joined Mori Building Co., Ltd. May 2010 General Manager, Sales Department No. 1, Building Sales Division, Mori Trust Co., Ltd. Apr 2012 Head of Osaka Branch, Mori Trust Co., Ltd. Jun 2012 Director of the Company (current) Jul 2013 Executive Officer, Head of Osaka Branch, Mori Trust Co., Ltd. Jul 2019 Managing Executive Officer, Mori Trust Co., Ltd. (current)
1965-10-20
Kaori OISHI
Director
Oct 2001 Registered as Attorney-at-Law Oct 2001 Joined Kitahama Law Office (currently Kitahama Law Office, Foreign Law Joint Enterprise) Jan 2013 Partner, Kitahama Law Office (current) Jun 2017 Outside Director, PALTAC Corporation (current) Jun 2020 Outside Director, Audit and Supervisory Committee Member, Towa Pharmaceutical Co., Ltd. (current) Jun 2024 Director of the Company (current)
1977-04-21
Munetaka ISHIKAWA
Director, Audit and Supervisory Committee Member
Oct 1999 Joined Ota Showa & Co. (currently EY ShinNihon LLC) Feb 2007 Joined Tohmatsu Audit Corporation (currently Deloitte Touche Tohmatsu LLC) Oct 2011 Joined S.T.M. Research Tax Corporation Mar 2021 Partner, S.T.M. Research Tax Corporation (current) Mar 2021 Head of Ishikawa Certified Public Accountant Office (current) Jun 2022 Director, Audit and Supervisory Committee Member of the Company (current)
1972-08-09
Kazuyoshi HIROSE
Director, Audit and Supervisory Committee Member
Oct 2004 Registered as Attorney-at-Law Oct 2004 Joined Kansai Law & Patent Office (currently Kansai Law & Patent Office Attorney Corporation) Apr 2016 Co-Representative, Umeda Chuo Law Office (current) Jun 2025 Director, Audit and Supervisory Committee Member of the Company (current)
1973-03-05
Naoko SHIBATA
Director, Audit and Supervisory Committee Member
Oct 1995 Joined Tohmatsu Audit Corporation (currently Deloitte Touche Tohmatsu LLC) Apr 1998 Registered as Certified Public Accountant Oct 2010 Joined Yusei Audit Corporation (currently Taiyo LLC) Feb 2014 Member, Yusei Audit Corporation Jun 2015 Outside Director, Nakayamafuku Co., Ltd. (current) Mar 2016 Representative Partner, Yusei Audit Corporation Jul 2018 Partner, Taiyo LLC Sep 2024 Left Taiyo LLC Oct 2024 Established Naoko Shibata Certified Public Accountant Office; Representative (current) May 2025 Outside Audit & Supervisory Board Member, Rorze Corporation (current) Jun 2025 Director, Audit and Supervisory Committee Member of the Company (current)
1970-11-06
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-31
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-01-30
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-07
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-31
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-31
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-08
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-26
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-28
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-04
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-30
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-11
Quarterly Securities Report
EDINET
2022-08-05
Quarterly Securities Report
EDINET
2022-06-30
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINETAmended
2021-07-02
Amended Annual Securities Report
EDINET
2021-06-30
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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