3252
JINUSHI Co.,Ltd.
地主株式会社
Real Estate
JINUSHI Co.,Ltd. engages in the real estate investment business in Japan. The company operates in three segments: Real Estate Investment Business; Real Estate Leasing; and Asset Management Business. The company purchases and sells land, as well as sells real estate financial products. It also engages in long-term leasing; subleasing of land; and asset and operation management. The company was formerly known as Nippon Commercial Development Co., Ltd. JINUSHI Co.,Ltd. was incorporated in 2000 and is headquartered in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
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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
¥76.3B
¥57.1B
¥31.6B
¥49.9B
¥56.2B
Cost of Sales
¥62.3B
¥43.7B
¥21.1B
¥39.0B
¥46.9B
Gross Profit
¥14.0B
¥13.4B
¥10.5B
¥10.9B
¥9.3B
SG&A
¥5.4B
¥4.7B
¥4.3B
¥4.4B
¥3.8B
Operating Income
¥8.6B
¥8.7B
¥6.2B
¥6.4B
¥5.5B
Non-Operating Income
¥101M
¥509M
¥227M
¥435M
¥285M
Dividend Income
¥10M
¥8M
¥8M
¥8M
¥0M
Interest Income
¥26M
¥10M
¥7M
¥9M
¥0M
Non-Operating Expenses
¥1.5B
¥921M
¥663M
¥903M
¥758M
Interest Expense
¥1.1B
¥655M
¥445M
¥598M
¥457M
Ordinary Income
¥7.2B
¥8.3B
¥5.7B
¥5.9B
¥5.0B
Pre-tax Income
¥10.3B
¥8.2B
¥7.2B
¥4.6B
¥4.9B
Income Taxes
¥2.8B
¥2.1B
¥2.4B
¥967M
¥1.8B
Current Tax
¥3.1B
¥2.4B
¥2.3B
¥1.4B
¥4.0B
Deferred Tax
¥-321M
¥-315M
¥162M
¥-456M
¥-2.2B
Net Income (owners)
¥7.4B
¥6.1B
¥4.7B
¥3.6B
¥3.1B
Minority Interest
¥80M
¥7M
¥26M
¥3M
—
Comprehensive Income
¥7.0B
¥6.3B
¥5.0B
¥4.0B
¥3.4B
EBITDA
¥8.9B
¥8.9B
¥6.4B
¥6.6B
¥5.6B
Goodwill Amort. (J-GAAP)
—
—
—
¥28M
¥56M
EPS
¥357.07
¥334.89
¥267.76
¥199.16
¥170.90
Shares Outstanding
20.7M
20.5M
16.4M
18.3M
18.3M
Shares Issued (total)
21.6M
21.6M
18.3M
18.3M
18.3M
Treasury Shares
0.9M
1.0M
1.8M
0.0M
0.0M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥146.4B
¥115.4B
¥101.5B
¥72.2B
¥86.3B
Current Assets
¥109.1B
¥95.4B
¥84.0B
¥52.9B
¥60.0B
Cash & Deposits
¥27.6B
¥23.7B
¥23.1B
¥23.1B
¥17.3B
Non-Current Assets
¥37.2B
¥20.0B
¥17.5B
¥19.3B
¥26.3B
PP&E
¥31.6B
¥15.1B
¥14.9B
¥16.8B
¥17.5B
Goodwill
—
—
—
—
¥169M
Intangible Assets
¥46M
¥41M
¥49M
¥116M
¥225M
Investment Securities
¥3.5B
¥3.2B
¥343M
¥319M
¥581M
Deferred Tax Assets
¥358M
¥211M
—
—
—
Total Liabilities
¥94.4B
¥70.6B
¥70.0B
¥41.2B
¥58.6B
Current Liabilities
¥8.6B
¥7.8B
¥7.5B
¥4.6B
¥14.0B
ST Debt
¥2.5B
¥2.6B
¥2.3B
¥1.8B
¥7.0B
Taxes Payable
¥2.1B
¥1.5B
¥2.2B
¥232M
¥3.8B
Non-Current Liabilities
¥85.8B
¥62.8B
¥62.5B
¥36.6B
¥44.6B
Total LT Borrowings
¥74.2B
¥60.2B
¥60.3B
¥35.2B
¥42.7B
Deferred Tax Liab.
¥159M
¥324M
¥587M
¥398M
¥1.0B
Total Equity
¥51.9B
¥44.8B
¥31.5B
¥31.0B
¥27.8B
Capital Stock
¥6.5B
¥6.5B
¥3.0B
¥3.0B
¥3.0B
Capital Surplus
¥8.3B
¥8.2B
¥4.7B
¥4.7B
¥4.7B
Retained Earnings
¥36.7B
¥31.2B
¥26.7B
¥23.0B
¥20.3B
Treasury Stock
¥-1.7B
¥-2.0B
¥-3.5B
¥0M
¥0M
AOCI
¥181M
¥606M
¥424M
¥169M
¥-227M
Equity (owners)
¥49.7B
¥44.0B
¥30.9B
¥30.7B
¥28.0B
Minority Interests
¥2.0B
¥233M
¥136M
¥54M
—
Total Interest-Bearing Debt ⓘ
¥76.8B
¥62.8B
¥62.7B
¥37.1B
¥49.7B
Net Cash ⓘ
¥-49.2B
¥-39.1B
¥-39.6B
¥-13.9B
¥-32.5B
NCAV ⓘ
¥14.7B
¥24.8B
¥14.0B
¥11.7B
¥1.4B
NCAV/Share
¥710
¥1,208
¥854
¥637
¥79
BV/Share
¥2,405
¥2,140
¥1,882
¥1,681
¥1,532
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-3.3B
¥-4.3B
¥-25.2B
¥20.0B
¥11.4B
Taxes Paid
¥-2.6B
¥-3.2B
¥373M
—
—
Interest Paid
¥-1.1B
¥-660M
¥-447M
¥-631M
¥-473M
Interest Received
¥68M
¥18M
¥16M
¥59M
¥12M
D&A
¥310M
¥211M
¥206M
¥120M
¥92M
Goodwill Amort.
—
—
—
¥28M
¥56M
Investing CF
¥-15.4B
¥-2.1B
¥3.7B
¥-156M
¥-17.5B
CapEx
¥24.3B
¥396M
¥663M
¥379M
¥13.4B
Purchase Investments
¥-428M
¥-1.7B
—
—
¥-303M
Proceeds from Invest.
—
—
¥22M
—
—
Financing CF
¥22.5B
¥6.9B
¥21.1B
¥-14.0B
¥2.4B
Dividends Paid
¥-1.9B
¥-1.6B
¥-1.0B
¥-913M
¥-458M
Share Buybacks
—
¥0M
¥-3.5B
—
—
LT Debt Repaid
¥-76.8B
¥-43.5B
¥-21.7B
¥-43.3B
¥-35.1B
Free Cash Flow
¥-27.7B
¥-4.7B
¥-25.9B
¥19.6B
¥-2.0B
Net Change in Cash
¥3.8B
¥744M
¥-392M
¥6.0B
¥-3.7B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
15.6%
16.0%
15.1%
12.4%
11.9%
ROA
5.6%
5.6%
5.4%
4.6%
3.6%
EPS
¥357.07
¥334.89
¥267.76
¥199.16
¥170.90
DPS
¥110.00
¥85.00
¥55.00
¥55.00
¥25.00
BPS
¥2,509.89
¥2,181.23
¥1,915.86
¥1,690.17
¥1,519.30
FCF/Share
¥-1,338
¥-230
¥-1,574
¥1,073
¥-109
NCAV/Share
¥710
¥1,208
¥854
¥637
¥79
Payout Ratio
30.8%
25.4%
20.5%
27.6%
14.6%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 13
Date Activist Stake Event Flag Demands Source
2026-04-06
Nomura Asset Management Co., Ltd.
4.46%
change
Passive
—
2026-01-08
Nomura Securities Co.,Ltd.
5.67%
initial_5pct
Passive
—
2024-08-08
Tetsuya Matsuoka
20.79%
correction
Passive
—
2024-07-26
Tetsuya Matsuoka
20.79%
change
Passive
—
2023-11-15
Tetsuya Matsuoka
20.79%
change
Passive
—
2023-11-02
Tetsuya Matsuoka
33.11%
+2.0%
correction
Passive
—
2023-11-02
Tetsuya Matsuoka
32.11%
+1.0%
correction
Passive
—
2023-11-02
Tetsuya Matsuoka
31.11%
correction
Passive
—
2023-11-02
Tetsuya Matsuoka
20.79%
-10.32%
correction
Passive
—
2023-08-17
Tetsuya Matsuoka
33.11%
+2.0%
change
Passive
—
2023-08-17
Tetsuya Matsuoka
32.11%
+1.0%
change
Passive
—
2023-08-17
Tetsuya Matsuoka
31.11%
change
Passive
—
2023-08-17
Tetsuya Matsuoka
20.79%
-10.32%
initial_5pct
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 3
#
Shareholder
Shares (thou.)
% of Total
1
松岡 哲也
2,887,300
13.96%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社 (その他信託口)
1,360,900
6.58%
3
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行 (投資信託口)
1,008,600
4.87%
4
合同会社松岡
915,000
4.42%
5
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行株式会社 (投資信託口)
869,400
4.20%
6
野村證券株式会社
576,350
2.78%
7
株式会社SBI証券
517,854
2.50%
8
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC) (常任代理人 株式会社三菱UFJ銀行)
469,776
2.27%
9
西羅 弘文
396,824
1.91%
10
入江 賢治
232,100
1.12%
Domestic Nominees
15.7%
-7.5% 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
29.0%
+4.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
松岡 哲也
17.55%
14.05%
13.96%
-0.09%
日本マスタートラスト信託銀行
7.45%
13.30%
10.78%
-2.52%
日本カストディ銀行
4.64%
9.88%
4.87%
-5.01%
同会社松岡
5.56%
4.45%
4.42%
-0.03%
野村證券
NEW ENTRY
—
—
—
2.78%
NEW
式会社SBI証券
NEW ENTRY
—
—
—
2.50%
NEW
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC)
NEW ENTRY
—
—
—
2.27%
NEW
西羅 弘文
2.23%
1.83%
1.91%
+0.08%
入江 賢治
1.41%
1.13%
1.12%
-0.01%
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN(CASHPB)
last seen 2024
Exited Top 10
—
1.17%
—
永岡 幸憲
last seen 2024
Exited Top 10
1.21%
0.97%
—
式会社ニチレイ
last seen 2024
Exited Top 10
0.94%
0.75%
—
BNP PARIBAS FINANCIAL MARKETS
last seen 2023
Exited Top 10
0.73%
—
—
Concentration (HHI)
ⓘ
426
499
378
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥639M
+105% since 2023
Holdings
3
+1 new
Trend
Stable
vs 2023
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding