AlbaLink's efforts to recirculate vacant homes as income-producing real estate, and its model for turning properties priced at ¥1 million or less into high-yield investments, come into focus.
Japan has roughly 9 million vacant homes, and the number continues to rise each year according to statistics from the Ministry of Internal Affairs and Communications and other sources. Yet because of the structure of brokerage fees, these properties continue to have difficulty entering the distribution market. Kawada Kenji (河田 憲二) of AlbaLink turned this market distortion into a business by using inexpensive properties with problems.
Kawada Kenji (河田 憲二) shifted the business to vacant-home acquisition and resale in 2019, listed on TOKYO PRO Market in 2023, and listed on the Tokyo Stock Exchange Growth Market in December 2025. The company operates 28 branches nationwide, and sales exceeded ¥8.1 billion in the fiscal year ended December 2025. It is advancing a business model that recirculates vacant homes that have no value in the owner-occupier market as income-producing real estate.
The business model involves purchasing vacant homes for ¥1 million or less, adding a markup to the cost, and selling them to individual investors for around ¥2 million, with the aim of generating monthly rental income of ¥50,000. Management tracks the number of inquiries, the contract rate and gross profit per property as key metrics, and places emphasis on improving the contract rate by establishing branches in regional areas.
Going forward, the company plans to increase its exit options, including by launching a private-lodging business in May 2025, and is also considering the redevelopment of closed schools and hospitals. It is expanding its branch network into all 47 prefectures and ultimately aims to reach approximately 100 branches, expanding the market through the speed and trust built from a local presence.
While pursuing the long-term mission of achieving zero vacant homes by 2100, the company will seek a balance between responding to quarterly financial results and achieving long-term growth. Over the long term, it envisions a strategy of accumulating market data and case studies and combining multiple revenue sources, including rentals and private lodging.