Overview
Real Estate

KATITAS CO.,LTD

Katitas is Japan's leading renovated used single-family home retailer, operating an integrated business model that encompasses the procurement, renovation, and sale of pre-owned residential properties through 149 nationwide stores as of March 2025. The company purchases used homes primarily via direct buyout from individual sellers (98.3% of procurement), refurbishes them to a 'clean, safe, and functional' standard—including kitchen, bathroom, and flooring upgrades—and resells them at accessible price points as a 'fourth housing option' distinct from new builds, unrenovated used homes, or rentals. Leveraging cumulative sales of over 90,000 units, Katitas achieves significant scale advantages in renovation material procurement and contractor pricing, supporting above-average gross margins.

Market Cap
¥265B
US$1.68B
EV
¥292B
US$1.86B
Stock¥3,380▲+1.20%
US$1 = ¥157.05 (2026-10-22)
LTM EV/EBITDA
14.9
x
LTM EV/EBIT
15.0
x
LTM PER
19.9
x
LTM PBR
4.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+8.1%pt
1001
Oct 23, 25 – Oct 23, 26StockTOPIX
1Nov 10, 25Nitori Holdings maintains 33.96% stake
MC → EV Bridge
265BUS$1.68BMarket Cap35.5BUS$226M+ Debt7.87BUS$50.1M− Cash0.00BUS$0.00M− Inv. Sec.292BUS$1.86BEV
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Performance & Balance
Revenue 5Y (¥B)
101US$645M'22/3121US$773M'23/3127US$807M'24/3130US$825M'25/3152US$967M'26/3
EBITDA 5Y (¥B)
13.2US$83.8M'22/314.1US$89.8M'23/312.7US$81.0M'24/314.3US$91.2M'25/318.4US$117M'26/3
Net Income 5Y (¥B)
6.85US$43.6M'22/36.09US$38.8M'23/38.50US$54.1M'24/39.55US$60.8M'25/312.5US$79.4M'26/3
Capital Structure
60%
40%
EquityD/E 0.66xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
13.4US$85.4M18.5US$118M'22/38.73US$55.6M18.5US$118M'23/322.0US$140M26.5US$169M'24/318.8US$119M26.5US$169M'25/38.23US$52.4M26.5US$169M'26/3
Shareholders
Top 10 hold 71.2%
1
Nitori Holdings Co.,Ltd.
34.14%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
10.80%
3
Custody Bank of Japan, Ltd. (Trust Account)
8.66%
4
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
6.78%
5
STICHTING PENSIOENFONDS ZORG EN WELZIJN (Standing Proxy: Citibank, N.A., Tokyo Branch)
2.61%
6
THE BANK OF NEW YORK MELLON 140044 (Standing Proxy: Mizuho Bank, Ltd.)
2.55%
7
STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)
2.02%
8
STATE STREET BANK AND TRUST COMPANY 505301 (Standing Proxy: Mizuho Bank, Ltd.)
1.35%
9
NORTHERN TRUST CO.(AVFC)RE UKUC UCITS CLIENTS NON LENDING 10PCT TREATY ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
1.22%
10
STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)
1.05%
Management
11 officers
Kenshi ARAI
Representative Director, President
Apr 1993 Joined Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Sep 1997 Secretary, Office of Motohisa Furukawa, House of Representatives Feb 1999 Joined Bain & Company Japan, Inc. Aug 2004 Joined Recruit Co., Ltd. (now Recruit Holdings Co., Ltd.) Jun 2012 Joined Yasuragi Co., Ltd. (now Katitas Co., Ltd.); Representative Director, President (current) Mar 2016 Representative Director, Chairman, Replus Co., Ltd. Mar 2017 Representative Director, President, Replus Co., Ltd. Jun 2022 Representative Director, Chairman, Replus Co., Ltd. (current) Jun 2025 Outside Director, Shikomeru Food Tech Co., Ltd. (current)
1968-12-02
Kazuhito YOKOTA
Director, Head of Administration Division
Apr 1988 Joined Recruit Co., Ltd. (now Recruit Holdings Co., Ltd.) Oct 2006 Representative Director, Executive Vice President, Career Design Center Co., Ltd. Aug 2012 Joined Yasuragi Co., Ltd. (now Katitas Co., Ltd.); Head of Administration Division Mar 2016 Director, Replus Co., Ltd. (current) Jun 2017 – Apr 2020 Director, Head of Administration Division and General Affairs Department Manager, the Company Apr 2020 Director, Head of Administration Division, the Company (current)
1967-10-29
Takayuki USHIJIMA
Director
Apr 2008 Joined Wiqube Co., Ltd. May 2009 Joined Like Co., Ltd. (now Replus Co., Ltd.) Aug 2014 Director and Sales Department Manager, the same company Apr 2017 Director, Executive Vice President and Sales Planning Department Manager, the same company Jun 2017 Director, the Company Apr 2019 Director, Executive Vice President and Sales Department Manager, Replus Co., Ltd. Jun 2022 Representative Director, President and Head of Business Promotion Office, Replus Co., Ltd. Jul 2023 Head of Group Strategy Promotion Office, the Company (current) Jul 2023 Representative Director, President, Sales Department Manager and Head of Business Promotion Office, Replus Co., Ltd. Jul 2024 Representative Director, President and Sales Department Manager, Replus Co., Ltd. Apr 2026 Representative Director, President, Replus Co., Ltd. (current)
1984-01-30
Hideaki TSUKUDA
Director
Apr 1986 Joined Sanwa Bank, Ltd. (now MUFG Bank, Ltd.) Jan 1999 Joined McLagan Partners Asia Inc. Aug 2000 Joined Egon Zehnder K.K. Jan 2006 Partner, the same company Nov 2010 – Jan 2015 Representative Director, President, the same company 2015 Member, Management Committee, Egon Zehnder Headquarters (Switzerland) Sep 2018 Representative Managing Director and COO, Innovation Network Corporation of Japan (part-time) Nov 2018 Representative Director, President, Board Advisors Japan Co., Ltd. (now Board Advisors Co., Ltd.) (current) Jun 2019 Outside Director, the Company (current)
1964-01-20
Ichiro NAKAO
Director
Apr 1989 Joined Recruit Co., Ltd. (now Recruit Holdings Co., Ltd.) Oct 2006 Company Partner, Business Planning Office, the same company Apr 2007 Executive Officer, Housing Company, the same company Apr 2013 Representative Director, President, Recruit Technologies Co., Ltd. (now Recruit Co., Ltd.) Apr 2017 Deputy Director, Recruit Works Institute, Recruit Holdings Co., Ltd. Jun 2017 Outside Director, Tabikobo Co., Ltd. Jan 2019 Representative Director, Nakao Management Research Institute Co., Ltd. (current) Dec 2019 Outside Director, LIFULL Co., Ltd. (current) Sep 2020 Outside Director, Links Co., Ltd. (current) Jul 2022 Outside Director, ZUU Co., Ltd. Feb 2025 – May 2025 Director, Audit and Supervisory Committee Member, CaSy Inc. (current) METATEAM Inc., Outside Director (current) Jun 2025 Outside Director, the Company (current)
1964-05-15
Tetsuro TAKAHASHI
Audit & Supervisory Board Member
Apr 1992 Joined Recruit Co., Ltd. (now Recruit Holdings Co., Ltd.) Mar 2014 Joined the Company Jul 2014 General Manager, Information Systems Department, the Company Jan 2016 General Manager, Information Systems Department and Purchasing & Sales Support Department, the Company Jan 2017 General Manager, Business Support Department, the Company Apr 2022 General Manager, Information Systems Department, the Company Apr 2024 General Manager, Internal Audit Office, the Company Jun 2025 Audit & Supervisory Board Member, the Company (current)
1966-07-29
Toshiyuki SHIRAI
Director
Apr 1979 Joined Nitori Co., Ltd. (now Nitori Holdings Co., Ltd.) May 2001 Director, the same company May 2010 Managing Executive Officer and Director, the same company May 2014 Executive Vice President, Representative Director, Nitori Holdings Co., Ltd.; Representative Director, President, Nitori Co., Ltd. Feb 2016 Representative Director, President, Nitori Holdings Co., Ltd. (current) May 2017 Director, the Company (current) Dec 2018 Director, N Plus Co., Ltd. (current) Mar 2019 Director, Nitori Furniture Co., Ltd. (current) Feb 2020 Director, Nitori Co., Ltd. (current) Mar 2020 Director, Nitori Public Co., Ltd. (current) Jun 2023 Director, Shimachu Co., Ltd. (current) Aug 2023 Representative Director, Chairman, Home Logistics Co., Ltd. (current) Sep 2024 Representative Director, Chairman, Nitori Digital Base Co., Ltd. (current)
1955-12-21
Mie SUDO
Director
Apr 1988 Joined Hakuhodo Inc. Oct 1991 Joined Arthur Andersen (now Azsa LLC) Oct 1996 Joined Schroder PTV Partners K.K. (now MKS Partners Co., Ltd.) Nov 1997 Joined Bain & Company Apr 2006 Founded Planet Plan Inc.; Representative Director (current) Jun 2017 Director, Japan Volleyball Association Mar 2018 Outside Audit & Supervisory Board Member, ASICS Corporation Apr 2019 Project Professor, Graduate School of Policy and Media Studies, Keio University Mar 2020 Outside Director (Audit and Supervisory Committee Member), ASICS Corporation Jun 2021 Outside Director, the Company (current); Director, Japan Olympic Committee (current) Mar 2023 Outside Director, Kose Corporation (now Kose Holdings Corporation) (current) Jun 2023 Outside Director, Kanden Engineering Co., Ltd. (current); Vice President, Japan Volleyball Association (current) Mar 2024 Outside Director, ASICS Corporation (current); Director, Japan Football Association (current)
1963-08-17
Tomoko KAKUDA
Audit & Supervisory Board Member
Oct 2001 Joined Tohmatsu & Co. (now Deloitte Touche Tohmatsu LLC), Audit Division Oct 2004 Opened individual accounting practice Oct 2008 Joined Deloitte Tohmatsu Advisory Division Feb 2014 Opened Tomoko Kakuda CPA Office; Representative Certified Public Accountant (current) Aug 2017 Outside Director, Shin Corporation Jun 2018 Outside Director, Housecom Corporation Aug 2018 Founded Lumiere Inc.; Representative Director (current) Jun 2021 Outside Audit & Supervisory Board Member, the Company (current) Jun 2024 Outside Director (Audit and Supervisory Committee Member), Taiyo Yuden Co., Ltd. (current)
1971-04-09
Kanae FUKUSHIMA
Audit & Supervisory Board Member
Apr 1998 Joined the Legal Training and Research Institute of the Supreme Court of Japan Apr 2000 Appointed Assistant Judge, Tokyo District Court Aug 2004 Assistant Judge, Odawara Branch, Yokohama District and Family Court Apr 2005 Assistant Judge, Naha Family and District Court Apr 2008 Assistant Judge, Tokyo District Court Apr 2010 Judge, Tokyo District Court Apr 2012 Judge, Kobe District Court Apr 2014 Judge, Tokyo High Court Apr 2016 Instructor, Legal Training and Research Institute Apr 2019 Joined Utsunomiya, Shimizu & Yoh Law Office Jun 2022 Outside Director (Audit and Supervisory Committee Member), WOW WORLD Co., Ltd. Aug 2022 Outside Audit & Supervisory Board Member, Exis Inc. (current) Oct 2022 Outside Director (Audit and Supervisory Committee Member), WOW WORLD GROUP Co., Ltd. Jan 2023 Partner, Utsunomiya, Shimizu & Yoh Law Office (current) Jun 2023 Outside Director (Audit and Supervisory Committee Member), World Co., Ltd. (current) Dec 2023 Public Interest Member, Tokyo Labor Relations Commission (current) Jun 2024 Outside Audit & Supervisory Board Member, Solasto Corporation (current) Jun 2025 Outside Audit & Supervisory Board Member, the Company (current)
1974-03-30
Hiroshi NAGAI
Audit & Supervisory Board Member
Apr 1988 Joined Toyota Motor Corporation Apr 2001 Joined Fast Retailing Co., Ltd. Sep 2015 Joined Nitori Co., Ltd. Oct 2016 Store Manager, Yachiyo Store, Store Operations Department, the same company Jul 2018 Executive Officer, Nitori Holdings Co., Ltd.; Head of Business Planning Office, Nitori Co., Ltd. May 2021 Senior Executive Officer, Nitori Holdings Co., Ltd. May 2022 Managing Executive Officer, the same company (current) Feb 2024 Executive Director, Nitori Co., Ltd. (current) Feb 2025 Director, Shimachu Co., Ltd. (current) Jun 2026 Outside Audit & Supervisory Board Member, the Company (current)
1964-09-10
Large Shareholding Reports
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2026-06-05
5.24%
Harris Associates L.P.
2025-12-03
5.12%→3.85%
Amova Asset Management Co., Ltd.
2025-09-19
3.15%→3.07%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-25
Large Shareholding Report
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-22
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-05
Large Shareholding Report
TDnet
2026-02-06
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-03
Large Shareholding Report
EDINET
2025-11-12
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-24
Annual Securities Report
Period: Apr 2024 – Mar 2025
EDINETAmended
2025-06-24
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
TDnet
2025-02-07
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-11
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-06
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-10
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-27
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
2022-08-10
Quarterly Securities Report
EDINET
2022-06-28
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-12
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-25
Annual Securities Report
EDINET
2021-02-12
Quarterly Securities Report
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