Type III and Type IV Specified Joint Real Estate Venture Licenses and Use of External SPCs
First written in FY2024. 15 of 22 entries say "Advanced", first in FY2026. Latest entry: 2026-10-22.
No other company in this theme has enough history to compare yet.
- FY2026AdvancedAnnual report
「Following the acquisition of licenses for Type 3 and Type 4 real estate specified joint enterprises, the company became able to operate funds off balance sheet using special-purpose companies (SPCs), making it possible to streamline the balance sheet alongside business expansion, as originally intended.」
Following the acquisition of the Type 3 and Type 4 licenses, the use of SPCs led to actual fund operations and off-balance-sheet treatment, producing balance-sheet streamlining effects. - FY2026-H1AchievedAnnual report
「In June 2025, the company obtained the licenses relating to Article 2, paragraph 4, items 3 and 4 of the Act on Specified Joint Real Estate Ventures, including electronic transaction services, enabling fund operations using SPCs. Because approximately 2 months were required to prepare for the launch of the service, GMV(*) for the interim period declined slightly year on year, but operations for the first project successfully commenced in September 2025.」
The licenses for Type 3 and Type 4 operators that had been under application were obtained in June 2025, enabling fund operations using SPCs. Operations for the first project also commenced in September 2025. - FY2024First statedAnnual report
「The company has applied to the Financial Services Agency and the Ministry of Land, Infrastructure, Transport and Tourism for licenses as a Type 3 and Type 4 operator under the Act on Specified Joint Real Estate Ventures. Obtaining these licenses will enable the formation of crowdfunding projects using external SPCs.」
The company is applying for licenses as a Type 3 and Type 4 operator and, after obtaining them, aims to form projects using external SPCs, move properties off balance sheet, attract financial institutions and institutional investors, and form larger projects.