3465
K.I. Star Real Estate Co., Ltd.
ケイアイスター不動産株式会社
Real Estate
Ki-Star Real Estate Co.,Ltd operates as a real estate company. The company is involved in the construction and sale of detached housing, custom-built housing, and land; and real estate transactions, property management, and residential land development businesses. It also engages in real estate leasing and brokerage businesses. The company was incorporated in 1990 and is headquartered in Honjo, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥342.6B
¥283.1B
¥241.9B
¥184.4B
Cost of Sales
¥300.6B
¥250.5B
¥204.2B
¥144.3B
Gross Profit
¥42.0B
¥32.6B
¥37.7B
¥40.0B
SG&A
¥24.7B
¥21.2B
¥18.5B
¥16.4B
Operating Income
¥17.3B
¥11.4B
¥19.2B
¥23.7B
Non-Operating Income
¥1.9B
¥1.3B
¥968M
¥866M
Interest Income
¥469M
¥177M
—
—
Non-Operating Expenses
¥4.1B
¥2.6B
¥1.7B
¥1.3B
Interest Expense
¥2.5B
¥1.5B
¥1.1B
¥774M
Ordinary Income
¥15.1B
¥10.1B
¥18.5B
¥23.2B
Pre-tax Income
¥15.3B
¥10.6B
¥18.4B
¥23.2B
Income Taxes
¥4.9B
¥2.7B
¥5.8B
¥7.2B
Current Tax
¥5.4B
¥3.4B
¥5.5B
¥7.5B
Deferred Tax
¥-540M
¥-717M
¥281M
¥-318M
Net Income (owners)
¥8.9B
¥6.9B
¥11.8B
¥14.7B
Minority Interest
¥1.5B
¥1.1B
¥835M
¥1.2B
Comprehensive Income
¥10.3B
¥7.8B
¥12.7B
¥16.0B
EBITDA
¥17.8B
¥11.9B
¥19.7B
¥24.2B
Goodwill Amort. (J-GAAP)
¥110M
¥113M
¥125M
¥156M
EPS
¥570.44
¥434.89
¥750.77
¥976.49
Shares Outstanding
15.7M
15.9M
15.9M
15.9M
Shares Issued (total)
15.9M
15.9M
15.9M
15.9M
Treasury Shares
0.1M
0.0M
0.0M
0.0M
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥294.6B
¥246.1B
¥199.5B
¥163.2B
Current Assets
¥276.4B
¥235.0B
¥191.5B
¥155.7B
Cash & Deposits
¥71.9B
¥56.0B
¥47.9B
¥43.0B
Non-Current Assets
¥18.1B
¥11.0B
¥7.9B
¥7.6B
PP&E
¥5.2B
¥4.5B
¥4.2B
¥4.0B
Goodwill
¥260M
¥399M
¥511M
¥637M
Intangible Assets
¥478M
¥704M
¥950M
¥1.2B
Investment Securities
¥2.7B
¥563M
¥648M
¥627M
Deferred Tax Assets
¥1.4B
¥1.2B
¥878M
¥1.2B
Total Liabilities
¥225.8B
¥184.9B
¥142.9B
¥114.2B
Current Liabilities
¥156.3B
¥139.8B
¥118.6B
¥91.7B
ST Debt
¥112.0B
¥109.4B
¥87.2B
¥60.6B
Taxes Payable
¥4.1B
¥503M
¥2.2B
¥5.5B
Non-Current Liabilities
¥69.4B
¥45.1B
¥24.3B
¥22.6B
Total LT Borrowings
¥68.4B
¥44.6B
¥24.0B
¥22.3B
Total Equity
¥68.8B
¥61.1B
¥56.5B
¥49.0B
Capital Stock
¥4.8B
¥4.8B
¥4.8B
¥4.8B
Capital Surplus
¥5.8B
¥5.7B
¥5.7B
¥5.7B
Retained Earnings
¥51.2B
¥44.4B
¥40.9B
¥33.6B
Treasury Stock
¥-1.4B
¥-349M
¥-378M
¥-78M
AOCI
¥-238M
¥-119M
¥-50M
¥-36M
Equity (owners)
¥60.4B
¥54.6B
¥51.0B
¥44.1B
Minority Interests
¥8.7B
¥6.6B
¥5.5B
¥5.0B
Total Interest-Bearing Debt ⓘ
¥180.4B
¥154.0B
¥111.2B
¥82.8B
Net Cash ⓘ
¥-108.5B
¥-97.9B
¥-63.4B
¥-39.8B
NCAV ⓘ
¥50.7B
¥50.1B
¥48.6B
¥41.5B
NCAV/Share
¥3,224
¥3,160
¥3,063
¥2,616
BV/Share
¥3,840
¥3,443
¥3,217
¥2,779
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-626M
¥-15.3B
¥-16.4B
¥-20.7B
Taxes Paid
¥-1.3B
—
—
—
Interest Paid
¥-3.7B
¥-2.5B
¥-1.6B
¥-1.2B
Interest Received
¥475M
¥181M
¥26M
¥43M
D&A
¥443M
¥473M
¥433M
¥384M
Goodwill Amort.
¥110M
¥113M
¥125M
¥156M
Investing CF
¥-7.5B
¥-4.9B
¥-2.5B
¥-3.1B
CapEx
¥416M
¥767M
¥532M
¥690M
Purchase Investments
¥-2.1B
¥-0M
¥-10M
¥-448M
Proceeds from Invest.
—
¥1M
¥5M
—
Financing CF
¥22.2B
¥27.1B
¥22.4B
¥36.6B
Dividends Paid
¥-2.0B
¥-3.3B
¥-4.6B
¥-3.2B
Share Buybacks
¥-1.0B
¥-0M
¥-300M
—
LT Debt Repaid
¥-20.2B
¥-30.3B
¥-9.8B
¥-6.5B
Free Cash Flow
¥-1.0B
¥-16.0B
¥-16.9B
¥-21.4B
Net Change in Cash
¥14.0B
¥6.9B
¥3.5B
¥12.7B
Metric
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
15.5%
13.0%
24.9%
43.0%
ROA
3.3%
3.1%
6.5%
9.0%
EPS
¥570.44
¥434.89
¥750.77
¥976.49
DPS
¥151.00
¥180.00
¥230.00
¥265.00
BPS
¥3,883.65
¥3,454.57
¥3,234.79
¥2,783.70
FCF/Share
¥-66
¥-1,012
¥-1,067
¥-1,349
NCAV/Share
¥3,224
¥3,160
¥3,063
¥2,616
Payout Ratio
26.5%
41.4%
30.6%
27.1%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 22
Date Activist Stake Event Flag Demands Source
2026-04-10
Keiji Hanawa
42.78%
change
Passive
—
2026-04-10
Keiji Hanawa
42.77%
-0.01%
change
Passive
—
2026-01-08
Keiji Hanawa
41.8%
change
Passive
—
2026-01-08
Keiji Hanawa
41.8%
change
Passive
—
2025-12-25
Keiji Hanawa
41.8%
change
Passive
—
2025-09-25
Keiji Hanawa
41.8%
+0.15%
change
Passive
—
2025-04-04
Nomura Securities Co.,Ltd.
3.7%
-2.87%
change
Passive
—
2025-01-09
Nomura Securities Co.,Ltd.
6.57%
-0.38%
change
Passive
—
2024-12-23
Keiji Hanawa
41.65%
change
Passive
—
2024-12-05
Nomura Securities Co.,Ltd.
6.95%
-1.73%
change
Passive
—
2024-11-21
Nomura Securities Co.,Ltd.
8.68%
+0.06%
change
Passive
—
2024-10-18
Nomura Securities Co.,Ltd.
8.62%
-0.12%
change
Passive
—
2024-10-04
Nomura Securities Co.,Ltd.
8.74%
-0.01%
change
Passive
—
2024-09-19
Nomura Securities Co.,Ltd.
8.75%
+1.08%
change
Passive
—
2024-08-21
Nomura Securities Co.,Ltd.
7.67%
+1.08%
change
Passive
—
2024-08-05
Nomura Securities Co.,Ltd.
6.59%
-0.35%
change
Passive
—
2024-07-03
Nomura Securities Co.,Ltd.
6.94%
+0.1%
change
Passive
—
2024-06-19
Nomura Securities Co.,Ltd.
6.84%
+1.39%
change
Passive
—
2024-05-08
Nomura Securities Co.,Ltd.
5.45%
initial_5pct
Passive
—
2023-12-20
AllianceBernstein L.P.
3.74%
change
Passive
—
2023-10-06
Asset Management One Co., Ltd.
3.74%
-1.38%
change
Passive
—
2023-09-07
Asset Management One Co., Ltd.
5.12%
change
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 2
#
Shareholder
Shares (thou.)
% of Total
1
株式会社フラワーリング
5,426
34.51%
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(信託口)
1,244
7.92%
3
塙 圭二
1,180
7.51%
4
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
821
5.22%
5
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN(CASHPB) (常任代理人 野村證券株式会社)
436
2.78%
6
UBS AG LONDON A/C IPB SEGREGATED CLIENT ACCOUNT (常任代理人 シティバンク、エヌ・エイ東京支店)
355
2.26%
7
MSIP CLIENT SECURITIES (常任代理人 モルガン・スタンレーMUFG証券株式会社)
208
1.33%
8
株式会社足利銀行
206
1.31%
9
BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC) (常任代理人 株式会社三菱UFJ銀行)
171
1.09%
10
ケイアイスター不動産従業員持株会
166
1.06%
Domestic Nominees
13.1%
+4.3% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
-0.8% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
51.9%
+4.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
式会社フラワーリング
21.59%
21.59%
34.51%
+12.92%
日本マスタートラスト信託銀行
8.72%
5.82%
7.92%
+2.10%
塙 圭二
20.05%
20.05%
7.51%
-12.54%
日本カストディ銀行
4.82%
3.04%
5.22%
+2.18%
NOMURA PB NOMINEES LIMITED OMNIBUS-MARGIN(CASHPB)
NEW ENTRY
—
—
—
2.78%
NEW
UBS
NEW ENTRY
—
—
—
2.26%
NEW
MSIP CLIENT SECURITIES
—
1.31%
1.33%
+0.02%
式会社足利銀行
1.29%
1.29%
1.31%
+0.02%
BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC)
NEW ENTRY
—
—
—
1.09%
NEW
ケイアイスター不動産従業員持株会
0.89%
0.98%
1.06%
+0.08%
JPモルガン証券
last seen 2024
Exited Top 10
—
1.03%
—
BNY Mellon
last seen 2024
Exited Top 10
2.04%
0.81%
—
りそな銀行
last seen 2024
Exited Top 10
0.80%
0.80%
—
JP Morgan
last seen 2023
Exited Top 10
2.04%
—
—
State Street
last seen 2023
Exited Top 10
1.15%
—
—
Concentration (HHI)
ⓘ
980
918
1356
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥326M
-16% since 2023
Holdings
2
Trend
Stable
vs 2023
Held Company
FY2025
¥326M total
FY2023
¥389M total
Book Val ¥M
Shares
Book Val ¥M
Shares
株式会社Robot Home
302
1,710,000
378
1,710,000
M
譬ェ蠑丈シ夂、セ繧√�カ縺阪ヵ繧」繝翫Φ繧キ繝」繝ォ繧ー繝ォ繝シ繝�
株式会社めぶきフィナンシャルグループ
24
33,930
11
33,930
Portfolio total
326
389
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding