Worth reading
22Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateKey initiatives
01Starting with CAPS, expand the business domain from finance into real estate sales.
02AI-driven digital transformation of sales activities and integration of the website and app
03Synergies with MogeCheck, a mortgage comparison service
Plan assumptionsThe way people choose and apply for mortgages will shift from using real estate companies to applying online., The calculation of mortgage market share assumes a 10% loan execution rate, based on interviews with financial institutions.
Non-financial targetsIndicator Mortgage market share / Target value Medium term: 24.0%; long term: 100.0% / Timing Medium and long term
Size of the Target MarketMarket Real estate investment market (rental housing within income-producing real estate) / Dimensions ¥83.2 trillion / Source 27 December 2024, NLI Research Institute, “The Size of Japan’s Real Estate Investment Market (2024)”, Market Income-producing real estate in Tokyo / Dimensions ¥34.4 trillion / Source Area-by-area data in the same report, Market Mortgage market / Dimensions New lending amounted to ¥22 trillion in FY2024; the number of new loans is shown in the chart. / Source “Report on the Results of the FY2025 Survey on Private Residential Mortgages”
Risks identified by the company
Rising interest rates on investment property loans
Lower yields due to rising property prices
Volatility in the buying and selling model
Changes to banks’ screening criteria
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Progress against the plan | Annual update |
| Non-financial targets | Indicator Mortgage market share / Target value Medium term: 24.0%; long term: 100.0% / Timing Medium and long term |
| Plan assumptions | The way people choose and apply for mortgages will shift from using real estate companies to applying online., The calculation of mortgage market share assumes a 10% loan execution rate, based on interviews with financial institutions. |
| Key initiatives | Starting with CAPS, expand the business domain from finance into real estate sales., AI-driven digital transformation of sales activities and integration of the website and app, Synergies with MogeCheck, a mortgage comparison service |
| Size of the Target Market | Market Real estate investment market (rental housing within income-producing real estate) / Dimensions ¥83.2 trillion / Source 27 December 2024, NLI Research Institute, “The Size of Japan’s Real Estate Investment Market (2024)”, Market Income-producing real estate in Tokyo / Dimensions ¥34.4 trillion / Source Area-by-area data in the same report, Market Mortgage market / Dimensions New lending amounted to ¥22 trillion in FY2024; the number of new loans is shown in the chart. / Source “Report on the Results of the FY2025 Survey on Private Residential Mortgages” |
| Risks identified | Rising interest rates on investment property loans, Lower yields due to rising property prices, Volatility in the buying and selling model, Changes to banks’ screening criteria |
| Publication date | 30 September 2026 |
Items this document does not state (17)
Plan periodSales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetResults under the previous planReason for revision or withdrawalDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.No reason is given for reviewing or withdrawing the business plan. Regarding specific progress, the company explains that the decline in the number of screening applications was due to lower advertising expenditure, the increase in the average cost per screening application was due to changes in billing points, and the decline in CPA was due to more efficient advertising operations and an increase in organic traffic resulting from SEO.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.