3299
MUGEN ESTATE Co.,Ltd.
株式会社ムゲンエステート
Real Estate · Real Estate - Development
MUGEN ESTATE Co.,Ltd. purchases and resells pre-owned properties in Japan. The company's property portfolio includes investment type properties, such as condominiums and office blocks and residential type properties, including detached houses for families. It engages in the development, leasing, and selling of real estate properties and interior and exterior construction business that includes renovate and refurbish stores, offices, office buildings, rental apartment complexes, and residential properties. The company was incorporated in 1990 and is headquartered in Chiyoda, 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
¥68.3B
¥62.2B
¥51.6B
¥31.2B
¥34.0B
Cost of Sales
¥48.9B
¥45.6B
¥40.2B
¥24.1B
¥28.2B
Gross Profit
¥19.3B
¥16.6B
¥11.4B
¥7.2B
¥5.8B
SG&A
¥8.3B
¥6.9B
¥5.5B
¥4.2B
¥3.4B
Operating Income
¥11.0B
¥9.6B
¥5.9B
¥3.0B
¥2.3B
Non-Operating Income
¥132M
¥86M
¥131M
¥63M
¥35M
Non-Operating Expenses
¥1.2B
¥851M
¥825M
¥731M
¥606M
Interest Expense
¥945M
¥751M
¥724M
¥655M
¥519M
Ordinary Income
¥10.0B
¥8.9B
¥5.2B
¥2.3B
¥1.8B
Pre-tax Income
¥9.9B
¥8.9B
¥5.2B
¥2.3B
¥1.8B
Income Taxes
¥3.3B
¥2.8B
¥1.6B
¥713M
¥500M
Current Tax
¥3.3B
¥2.8B
¥1.7B
¥767M
¥511M
Deferred Tax
¥-29M
¥-12M
¥-147M
¥-54M
¥-11M
Net Income (owners)
¥6.7B
¥6.1B
¥3.7B
¥1.6B
¥1.3B
Comprehensive Income
¥6.7B
¥6.1B
¥3.7B
¥1.6B
¥1.3B
EBITDA
¥12.1B
¥10.4B
¥6.7B
¥3.6B
¥3.0B
EPS
¥285.15
¥259.51
¥155.27
¥66.56
¥53.25
Shares Outstanding
23.5M
23.3M
23.6M
23.5M
23.8M
Shares Issued (total)
24.4M
24.4M
24.4M
24.4M
24.4M
Treasury Shares
0.9M
1.1M
0.8M
0.9M
0.6M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥106.7B
¥87.5B
¥80.4B
¥77.4B
¥62.8B
Current Assets
¥98.4B
¥83.7B
¥74.2B
¥70.2B
¥54.4B
Cash & Deposits
¥20.7B
¥22.0B
¥20.4B
¥17.8B
¥17.6B
Trade Receivables
¥88M
¥63M
¥35M
¥23M
¥19M
Non-Current Assets
¥8.3B
¥3.7B
¥6.1B
¥7.2B
¥8.3B
PP&E
¥5.9B
¥2.8B
¥5.2B
¥6.4B
¥7.6B
Intangible Assets
¥113M
¥79M
¥81M
¥84M
¥85M
Investment Securities
¥1.2B
¥0M
¥7M
¥21M
¥21M
Deferred Tax Assets
¥483M
¥481M
¥454M
¥306M
¥252M
Total Liabilities
¥70.9B
¥55.4B
¥52.5B
¥52.8B
¥39.2B
Current Liabilities
¥30.0B
¥22.3B
¥19.5B
¥18.5B
¥12.2B
ST Debt
¥20.5B
¥13.0B
¥14.6B
¥12.5B
¥9.7B
Taxes Payable
¥2.0B
¥2.0B
¥1.4B
¥622M
¥287M
Non-Current Liabilities
¥40.9B
¥33.1B
¥33.0B
¥34.3B
¥27.1B
Total LT Borrowings
¥39.5B
¥31.8B
¥32.0B
¥33.7B
¥26.4B
Pension Obligations
¥376M
¥388M
¥308M
¥115M
¥109M
Total Equity
¥35.8B
¥32.1B
¥27.8B
¥24.6B
¥23.5B
Capital Stock
¥2.6B
¥2.6B
¥2.6B
¥2.6B
¥2.6B
Capital Surplus
¥2.9B
¥2.6B
¥2.5B
¥2.5B
¥2.5B
Retained Earnings
¥31.0B
¥27.8B
¥23.2B
¥20.0B
¥18.8B
Treasury Stock
¥-747M
¥-919M
¥-483M
¥-543M
¥-401M
AOCI
¥27M
¥-34M
—
—
—
Equity (owners)
¥35.7B
¥32.0B
¥27.8B
¥24.5B
¥23.5B
Total Interest-Bearing Debt ⓘ
¥60.0B
¥44.8B
¥46.6B
¥46.2B
¥36.1B
Net Cash ⓘ
¥-39.3B
¥-22.8B
¥-26.2B
¥-28.5B
¥-18.6B
NCAV ⓘ
¥27.5B
¥28.3B
¥21.7B
¥17.3B
¥15.2B
NCAV/Share
¥1,169
¥1,216
¥920
¥739
¥638
BV/Share
¥1,519
¥1,376
¥1,178
¥1,045
¥986
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-6.8B
¥2.6B
¥5.4B
¥-11.5B
¥3.3B
Interest Paid
¥-972M
¥-750M
¥-723M
¥-649M
¥-534M
Interest Received
¥28M
¥3M
¥1M
¥1M
¥1M
D&A
¥1.0B
¥807M
¥717M
¥664M
¥636M
Investing CF
¥-5.0B
¥-312M
¥-498M
¥-157M
¥-1.2B
CapEx
¥3.8B
¥176M
¥510M
¥145M
¥1.2B
Purchase Investments
¥-1.2B
—
—
—
¥-21M
Financing CF
¥10.4B
¥-825M
¥-2.2B
¥11.8B
¥-621M
Dividends Paid
¥-3.5B
¥-1.5B
¥-469M
¥-356M
¥-239M
Share Buybacks
¥0M
¥-500M
—
¥-198M
¥-101M
LT Debt Repaid
¥-26.2B
¥-24.1B
¥-22.4B
¥-14.4B
¥-20.3B
Free Cash Flow
¥-10.6B
¥2.4B
¥4.9B
¥-11.6B
¥2.1B
Net Change in Cash
¥-1.3B
¥1.5B
¥2.7B
¥199M
¥1.5B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
19.7%
20.4%
14.0%
6.5%
5.6%
ROA
6.9%
7.3%
4.6%
2.2%
2.0%
EPS
¥285.15
¥259.51
¥155.27
¥66.56
¥53.25
DPS
¥114.00
¥104.00
¥63.00
¥20.00
¥15.00
BPS
¥1,520.53
¥1,374.55
¥1,177.77
¥1,044.67
¥986.47
FCF/Share
¥-451
¥104
¥206
¥-496
¥90
NCAV/Share
¥1,169
¥1,216
¥920
¥739
¥638
Payout Ratio
40.0%
40.1%
40.6%
30.0%
28.2%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 7
Date Activist Stake Event Flag Demands Source
2026-05-13
Fujita Shinichi
20.66%
+5.81%
change
Passive
—
2026-05-13
Shoda Keiji
8.03%
change
Passive
—
2025-08-29
SUSUMU FUJITA
32.95%
+0.09%
change
Passive
—
2025-08-29
Fujita Shinichi
14.85%
+0.15%
change
Passive
—
2024-08-28
SUSUMU FUJITA
32.86%
change
Passive
—
2024-02-28
Fujita Shinichi
14.7%
change
Passive
—
2024-02-28
Fujita Shinichi
14.7%
correction
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
藤田 進
4,083,000
17.39%
2
株式会社ドリームカムトゥルー
2,100,000
8.94%
3
株式会社夢現企画
1,460,000
6.22%
4
藤田 進一
1,420,900
6.05%
5
株式会社セラネス
1,300,000
5.54%
6
藤田 由香
700,000
2.98%
7
庄田 桂二
694,000
2.96%
8
庄田 優子
655,000
2.79%
9
合同会社サライ
500,000
2.13%
10
大久保 明
249,000
1.06%
Domestic Nominees
0.0%
-2.9% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
-1.2% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
56.1%
+0.7% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
藤田 進
19.35%
19.63%
17.39%
-2.24%
式会社ドリームカムトゥルー
NEW ENTRY
—
—
—
8.94%
NEW
式会社夢現企画
NEW ENTRY
—
—
—
6.22%
NEW
藤田 進一
8.85%
7.32%
6.05%
-1.27%
式会社セラネス
NEW ENTRY
—
—
—
5.54%
NEW
藤田 由香
2.97%
3.01%
2.98%
-0.03%
庄田 桂二
2.87%
2.94%
2.96%
+0.02%
庄田 優子
2.78%
2.81%
2.79%
-0.02%
同会社サライ
NEW ENTRY
—
—
—
2.13%
NEW
大久保 明
NEW ENTRY
—
—
—
1.06%
NEW
㈱ドリームカムトゥルー
last seen 2024
Exited Top 10
7.21%
9.03%
—
㈱セラネス
last seen 2024
Exited Top 10
4.24%
5.59%
—
㈱夢現企画
last seen 2024
Exited Top 10
3.23%
4.99%
—
Japan Custody Bank
日本カストディ銀行
last seen 2024
Exited Top 10
—
2.85%
—
BNY Mellon
last seen 2024
Exited Top 10
—
1.25%
—
藤田 百合子
last seen 2023
Exited Top 10
2.97%
—
—
日本マスタートラスト信託銀行
last seen 2023
Exited Top 10
3.45%
—
—
Concentration (HHI)
ⓘ
579
612
519
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved