3469
Dualtap Co., Ltd.
株式会社デュアルタップ
Real Estate
Dualtap Co., Ltd. engages in the real estate business in Japan and internationally. The company operates through three segments: Real Estate Sales Business, Real Estate Management Business, and Overseas Real Estate Business. It plans, develops, and manages condominiums and apartments under the XEBEC brand name. The company is also involved in asset management; rental and contract management; building management; outbound support services; and non-life insurance agency business. Dualtap Co., Ltd. was incorporated in 2006 and is headquartered in Chuo, 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
¥8.4B
¥5.2B
¥8.6B
¥10.8B
¥6.1B
Cost of Sales
¥7.3B
¥4.3B
¥7.3B
¥9.6B
¥5.0B
Gross Profit
¥1.1B
¥843M
¥1.3B
¥1.1B
¥1.1B
SG&A
¥948M
¥1.1B
¥974M
¥1.1B
¥934M
Operating Income
¥166M
¥-256M
¥307M
¥50M
¥173M
Non-Operating Income
¥4M
¥22M
¥13M
¥166M
¥23M
Non-Operating Expenses
¥74M
¥98M
¥48M
¥121M
¥136M
Interest Expense
¥52M
¥69M
¥29M
¥70M
¥72M
Ordinary Income
¥96M
¥-332M
¥273M
¥95M
¥60M
Pre-tax Income
¥160M
¥-344M
¥273M
¥96M
¥60M
Income Taxes
¥42M
¥39M
¥80M
¥38M
¥48M
Current Tax
¥42M
¥15M
¥106M
¥34M
¥33M
Deferred Tax
—
¥24M
¥-26M
¥4M
¥14M
Net Income (owners)
¥117M
¥-387M
¥193M
¥58M
¥12M
Minority Interest
¥1M
¥4M
¥1M
—
—
Comprehensive Income
¥118M
¥-382M
¥195M
¥52M
¥12M
EBITDA
¥227M
¥-120M
¥367M
¥89M
¥216M
Goodwill Amort. (J-GAAP)
¥19M
¥19M
¥17M
¥13M
¥13M
EPS
¥33.20
¥-112.53
¥56.08
¥16.83
¥3.48
Shares Outstanding
4.0M
3.5M
3.4M
3.4M
3.4M
Shares Issued (total)
4.0M
3.5M
3.4M
3.4M
3.4M
Treasury Shares
0.0M
0.0M
0.0M
0.0M
0.0M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥5.5B
¥6.0B
¥5.3B
¥5.0B
¥7.4B
Current Assets
¥4.0B
¥4.5B
¥4.8B
¥4.6B
¥6.9B
Cash & Deposits
¥1.3B
¥1.0B
¥2.0B
¥855M
¥524M
Non-Current Assets
¥1.5B
¥1.5B
¥447M
¥399M
¥519M
PP&E
¥1.3B
¥1.3B
¥125M
¥124M
¥216M
Goodwill
¥52M
¥71M
¥88M
¥78M
¥91M
Intangible Assets
¥55M
¥75M
¥93M
¥81M
¥97M
Investment Securities
¥24M
¥24M
¥35M
¥32M
¥33M
Deferred Tax Assets
—
—
¥24M
—
¥2M
Total Liabilities
¥3.1B
¥4.2B
¥3.1B
¥3.0B
¥5.4B
Current Liabilities
¥1.6B
¥2.2B
¥440M
¥2.0B
¥3.2B
ST Debt
¥1.1B
¥1.8B
¥25M
¥1.6B
¥2.8B
Taxes Payable
¥44M
¥5M
¥96M
¥23M
¥10M
Non-Current Liabilities
¥1.6B
¥2.0B
¥2.6B
¥995M
¥2.2B
Total LT Borrowings
¥1.5B
¥1.9B
¥2.5B
¥887M
¥2.0B
Deferred Tax Liab.
¥1M
¥1M
—
¥2M
—
Total Equity
¥2.3B
¥1.8B
¥2.2B
¥2.0B
¥2.0B
Capital Stock
¥468M
¥224M
¥217M
¥217M
¥217M
Capital Surplus
¥402M
¥158M
¥151M
¥151M
¥151M
Retained Earnings
¥1.5B
¥1.4B
¥1.8B
¥1.7B
¥1.7B
Treasury Stock
¥-0M
¥-0M
¥-0M
¥-0M
¥-0M
AOCI
¥-6M
¥-6M
¥-6M
¥-8M
¥-2M
Equity (owners)
¥2.3B
¥1.8B
¥2.2B
¥2.0B
¥2.0B
Minority Interests
¥5M
¥4M
¥1M
—
—
Total Interest-Bearing Debt ⓘ
¥2.6B
¥3.7B
¥2.6B
¥2.5B
¥4.9B
Net Cash ⓘ
¥-1.2B
¥-2.7B
¥-569M
¥-1.7B
¥-4.3B
NCAV ⓘ
¥885M
¥279M
¥1.8B
¥1.6B
¥1.5B
NCAV/Share
¥221
¥81
¥511
¥480
¥442
BV/Share
¥586
¥516
¥641
¥597
¥592
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥1.0B
¥-825M
¥1.2B
¥2.8B
¥-4.2B
Taxes Paid
¥50M
—
—
—
—
Interest Paid
¥-52M
¥-68M
¥-30M
¥-70M
¥-71M
Interest Received
¥1M
¥0M
¥0M
¥0M
¥0M
D&A
¥42M
¥118M
¥43M
¥26M
¥30M
Goodwill Amort.
¥19M
¥19M
¥17M
¥13M
¥13M
Investing CF
¥-39M
¥-1.2B
¥-21M
¥10M
¥-42M
CapEx
¥1M
¥1.3B
—
¥0M
¥7M
Purchase Investments
—
—
¥-1M
—
¥-10M
Financing CF
¥-717M
¥1.1B
¥-32M
¥-2.5B
¥3.3B
Dividends Paid
¥-43M
¥-42M
¥-40M
¥-39M
¥-38M
Share Buybacks
¥-0M
—
—
¥-0M
¥-0M
LT Debt Repaid
¥-1.1B
¥-2.2B
¥-1.9B
¥-4.5B
¥-2.3B
Free Cash Flow
¥1.0B
¥-2.1B
¥1.2B
¥2.8B
¥-4.3B
Net Change in Cash
¥272M
¥-976M
¥1.1B
¥332M
¥-1.0B
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
5.7%
-19.4%
9.1%
2.8%
0.6%
ROA
2.0%
-6.9%
3.7%
0.9%
0.2%
EPS
¥33.20
¥-112.53
¥56.08
¥16.83
¥3.48
DPS
¥12.50
¥12.50
¥12.50
¥12.00
¥11.50
BPS
¥584.21
¥514.68
¥639.47
¥594.68
¥591.08
FCF/Share
¥256
¥-605
¥347
¥812
¥-1,240
NCAV/Share
¥221
¥81
¥511
¥480
¥442
Payout Ratio
37.7%
—
22.3%
71.3%
330.5%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 23
Date Activist Stake Event Flag Demands Source
2025-07-22
SBI SECURITIES Co.,Ltd.
3.79%
-1.88%
change
Passive
—
2025-07-04
SBI SECURITIES Co.,Ltd.
5.67%
-2.46%
change
Passive
—
2025-06-19
SBI SECURITIES Co.,Ltd.
8.13%
-1.0%
change
Passive
—
2025-06-16
SBI SECURITIES Co.,Ltd.
9.13%
-1.07%
change
Passive
—
2025-06-13
SBI SECURITIES Co.,Ltd.
10.2%
-1.41%
change
Passive
—
2025-06-09
Takahiro Usui
38.47%
-5.06%
change
Passive
—
2025-06-09
Dimension Co.,Ltd.
38.47%
-5.06%
change
Passive
—
2025-06-09
Eimi Usui
38.47%
-5.06%
change
Passive
—
2025-05-26
Takahiro Usui
45.73%
change
Passive
—
2025-05-26
Takahiro Usui
43.53%
-2.2%
change
Passive
—
2025-05-26
Dimension Co.,Ltd.
45.73%
change
Passive
—
2025-05-26
Dimension Co.,Ltd.
43.53%
-2.2%
change
Passive
—
2025-05-26
Eimi Usui
45.73%
change
Passive
—
2025-05-26
Eimi Usui
43.53%
-2.2%
change
Passive
—
2025-05-13
SBI SECURITIES Co.,Ltd.
11.61%
-0.98%
change
Passive
—
2025-04-04
SBI SECURITIES Co.,Ltd.
12.59%
-0.85%
change
Passive
—
2025-02-18
SBI SECURITIES Co.,Ltd.
13.44%
-1.0%
change
Passive
—
2024-12-27
SBI SECURITIES Co.,Ltd.
14.44%
initial_5pct
Passive
—
2024-04-12
SYLA Technologies Co., Ltd.
—
exit
Passive
—
2024-03-01
SYLA Technologies Co., Ltd.
8.26%
+1.05%
change
Passive
—
2023-10-13
SYLA Technologies Co., Ltd.
7.21%
+1.0%
change
Passive
—
2023-08-17
SYLA Technologies Co., Ltd.
6.21%
-5.35%
change
Passive
—
2023-06-07
SYLA Technologies Co., Ltd.
11.56%
change
Passive
—
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
株式会社Dimension
1,235,000
30.81%
2
臼井 貴弘
181,000
4.52%
3
三菱UFJeスマート証券株式会社
111,600
2.78%
4
野村證券株式会社
44,400
1.11%
5
臼井 英美
30,000
0.75%
6
ライト工業株式会社
30,000
0.75%
7
株式会社アセットリード
30,000
0.75%
8
株式会社クラフトコーポレーション
30,000
0.75%
9
藤村 由美
20,700
0.52%
10
飛鳥居 淳
14,200
0.35%
Domestic Nominees
0.0%
+0.0% 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
43.1%
-8.3% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
式会社Dimension
35.97%
35.73%
30.81%
-4.92%
臼井 貴弘
5.27%
5.23%
4.52%
-0.71%
三菱UFJeスマート証券
NEW ENTRY
—
—
—
2.78%
NEW
野村證券
1.59%
1.40%
1.11%
-0.29%
式会社アセットリード
—
0.86%
0.75%
-0.11%
臼井 英美
1.74%
0.86%
0.75%
-0.11%
ライト工業
—
0.86%
0.75%
-0.11%
式会社クラフトコーポレーション
—
0.86%
0.75%
-0.11%
藤村 由美
NEW ENTRY
—
—
—
0.52%
NEW
飛鳥居 淳
NEW ENTRY
—
—
—
0.35%
NEW
auカブコム証券
last seen 2024
Exited Top 10
4.71%
3.19%
—
松永 功司
last seen 2024
Exited Top 10
2.29%
1.76%
—
大久保 雅生
last seen 2024
Exited Top 10
—
0.68%
—
牧 留緋
last seen 2023
Exited Top 10
1.42%
—
—
式会社日本ワークス
last seen 2023
Exited Top 10
2.24%
—
—
式会社シーラテクノロジーズ
last seen 2023
Exited Top 10
8.79%
—
—
杉本 宏之
last seen 2023
Exited Top 10
2.76%
—
—
Concentration (HHI)
ⓘ
1447
1323
981
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved