2978
TSUKURUBA Inc.
株式会社ツクルバ
Real Estate · Real Estate Services
TSUKURUBA Inc. operates a real estate brokerage platform in Japan. The Cowcamo Business segment plans, develops, and runs cowcamo, a real estate brokerage platform for used residential properties and renovation, as well residential design planning, media management, and agent services. The company was founded in 2011 and is headquartered in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥8.1B
¥5.5B
¥4.2B
¥2.8B
¥1.6B
Cost of Sales
¥4.6B
¥2.7B
¥1.6B
¥922M
¥360M
Gross Profit
¥3.5B
¥2.8B
¥2.5B
¥1.8B
¥1.3B
SG&A
¥3.3B
¥2.7B
¥2.7B
¥2.6B
¥1.6B
Operating Income
¥275M
¥155M
¥-132M
¥-774M
¥-359M
Non-Operating Income
¥5M
¥4M
¥4M
¥2M
¥23M
Dividend Income
¥0M
¥0M
¥0M
¥0M
¥0M
Interest Income
¥1M
¥0M
¥0M
¥0M
¥0M
Non-Operating Expenses
¥80M
¥46M
¥22M
¥23M
¥23M
Interest Expense
¥48M
¥22M
¥7M
¥5M
¥7M
Ordinary Income
¥200M
¥114M
¥-151M
¥-795M
¥-358M
Pre-tax Income
¥161M
¥200M
¥-159M
¥-820M
¥-482M
Income Taxes
¥54M
¥-16M
¥7M
¥2M
¥1M
Current Tax
¥95M
¥16M
¥7M
¥2M
¥1M
Deferred Tax
¥-41M
¥-32M
—
—
—
Net Income (owners)
¥107M
¥216M
¥-166M
¥-822M
¥-482M
Comprehensive Income
¥109M
¥213M
—
—
—
EBITDA
¥297M
¥184M
¥-94M
¥-737M
¥-326M
EPS
¥9.38
¥18.42
¥-14.83
¥-74.37
¥-50.10
Shares Outstanding
11.4M
11.4M
11.6M
11.5M
10.1M
Shares Issued (total)
11.7M
11.7M
11.6M
11.5M
10.1M
Treasury Shares
0.3M
0.3M
—
—
—
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥6.1B
¥4.2B
¥3.1B
¥2.9B
¥3.0B
Current Assets
¥5.8B
¥4.0B
¥2.7B
¥2.6B
¥2.6B
Cash & Deposits
¥1.9B
¥1.9B
¥1.8B
¥1.7B
¥2.2B
Trade Receivables
—
¥72M
—
—
¥31M
Non-Current Assets
¥339M
¥254M
¥335M
¥317M
¥391M
PP&E
¥89M
¥75M
¥172M
¥199M
¥284M
Investment Securities
¥29M
¥32M
¥35M
¥23M
¥3M
Deferred Tax Assets
¥72M
¥32M
—
—
—
Total Liabilities
¥4.2B
¥2.4B
¥1.6B
¥2.0B
¥2.2B
Current Liabilities
¥3.5B
¥1.7B
¥803M
¥538M
¥430M
ST Debt
¥2.9B
¥1.3B
¥341M
¥131M
¥111M
Taxes Payable
¥89M
¥16M
¥5M
¥2M
¥1M
Non-Current Liabilities
¥710M
¥714M
¥749M
¥1.4B
¥1.7B
Total LT Borrowings
¥710M
¥714M
¥739M
¥711M
¥1.0B
Total Equity
¥1.9B
¥1.8B
¥1.5B
¥910M
¥880M
Capital Stock
¥15M
¥60M
¥32M
¥14M
¥31M
Capital Surplus
¥1.7B
¥1.6B
¥1.6B
¥1.7B
¥1.1B
Retained Earnings
¥157M
¥57M
¥-166M
¥-822M
¥-482M
Treasury Stock
¥-63M
¥-63M
¥-63M
¥-62M
¥-62M
AOCI
¥-3M
¥-5M
¥-3M
¥-3M
—
Equity (owners)
¥1.8B
¥1.7B
¥1.4B
¥822M
¥836M
Total Interest-Bearing Debt ⓘ
¥3.6B
¥2.0B
¥1.1B
¥841M
¥1.1B
Net Cash ⓘ
¥-1.7B
¥-64M
¥692M
¥812M
¥1.1B
NCAV ⓘ
¥1.6B
¥1.5B
¥1.2B
¥592M
¥489M
NCAV/Share
¥140
¥136
¥102
¥52
¥48
BV/Share
¥157
¥147
¥120
¥72
¥83
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-1.5B
¥-901M
¥-85M
¥-1.0B
¥-438M
Taxes Paid
—
—
¥-5M
¥-1M
¥-2M
Interest Paid
¥-54M
¥-25M
¥-10M
¥-10M
¥-10M
Interest Received
¥1M
¥0M
¥0M
¥0M
¥0M
D&A
¥22M
¥29M
¥38M
¥37M
¥33M
Investing CF
¥-76M
¥81M
¥-59M
¥-109M
¥-106M
CapEx
¥22M
¥38M
¥9M
¥86M
¥34M
Purchase Investments
—
¥-5M
¥-12M
¥-23M
—
Proceeds from Invest.
—
¥54M
—
—
—
Financing CF
¥1.5B
¥954M
¥263M
¥544M
¥1.2B
Dividends Paid
¥-7M
¥-5M
—
—
—
LT Debt Repaid
¥-1.1B
¥-413M
¥-176M
¥-288M
¥-120M
Free Cash Flow
¥-1.5B
¥-939M
¥-94M
¥-1.1B
¥-472M
Net Change in Cash
¥-50M
¥135M
¥118M
¥-590M
¥677M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
6.2%
13.0%
-13.7%
-91.9%
-54.8%
ROA
2.1%
5.9%
-5.6%
-27.8%
-15.9%
EPS
¥9.38
¥18.42
¥-14.83
¥-74.37
¥-50.10
BPS
¥94.85
¥84.00
¥60.82
¥73.67
¥64.91
FCF/Share
¥-132
¥-83
¥-8
¥-97
¥-47
NCAV/Share
¥140
¥136
¥102
¥52
¥48
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 18
Date Activist Stake Event Flag Demands Source
2026-05-08
Hiroki Murakami
27.94%
-1.12%
change
Passive
—
2026-04-22
PKSHA Technology Inc.
8.36%
correction
Passive
—
2026-04-22
PKSHA Technology Inc.
11.09%
+2.73%
change
Passive
—
2026-04-03
Hiroki Murakami
29.06%
+0.08%
change
Passive
—
2026-03-25
Masahiro Nakamura
7.2%
correction
Passive
—
2026-03-24
PKSHA Technology Inc.
8.36%
initial_5pct
Passive
—
2026-03-24
PKSHA Technology Inc.
8.36%
correction
Passive
—
2026-03-19
Masahiro Nakamura
7.2%
-7.16%
change
Passive
—
2026-02-13
Shin Takeuchi
6.13%
initial_5pct
Passive
—
2026-01-28
Masahiro Nakamura
14.36%
-0.15%
change
Passive
—
2026-01-23
Hiroki Murakami
28.98%
-0.01%
change
Passive
—
2025-09-30
Hiroki Murakami
28.99%
correction
Passive
—
2025-09-26
Hiroki Murakami
28.99%
-0.1%
change
Passive
—
2024-12-25
Masahiro Nakamura
14.51%
-1.43%
change
Passive
—
2024-12-18
Hiroki Murakami
29.09%
change
Passive
—
2024-04-05
Masahiro Nakamura
15.94%
-0.41%
change
Passive
—
2024-01-10
Masahiro Nakamura
16.35%
-1.06%
change
Passive
—
2023-09-19
Masahiro Nakamura
17.41%
change
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
村上 浩輝
2,182,000
19.17%
2
株式会社エイチ
1,167,500
10.26%
3
株式会社ワングローブキャピタル
901,500
7.92%
4
合同会社エム
885,000
7.78%
5
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(証券投資信託口)
867,800
7.63%
6
中村 真広
806,500
7.09%
7
竹内 真
478,800
4.21%
8
イーストベンチャーズ投資事業有限責任組合
350,000
3.08%
9
佐護 勝紀
250,000
2.20%
10
株式会社SBI証券
187,685
1.65%
Domestic Nominees
7.6%
+0.2% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
63.4%
-1.0% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
村上 浩輝
18.27%
18.57%
19.17%
+0.60%
式会社エイチ
10.17%
10.29%
10.26%
-0.03%
式会社ワングローブキャピタル
8.60%
7.94%
7.92%
-0.02%
同会社エム
8.46%
7.80%
7.78%
-0.02%
日本カストディ銀行
7.63%
7.45%
7.63%
+0.18%
中村 真広
10.45%
8.48%
7.09%
-1.39%
竹内 真
2.20%
3.58%
4.21%
+0.63%
イーストベンチャーズ投資事業有限責任組合
3.12%
3.08%
3.08%
佐護 勝紀
2.40%
2.20%
2.20%
式会社SBI証券
NEW ENTRY
—
—
—
1.65%
NEW
楽天証券
last seen 2024
Exited Top 10
1.84%
2.39%
—
Concentration (HHI)
ⓘ
774
735
739
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved