8934
Sun Frontier Fudousan Co.,Ltd.
サンフロンティア不動産株式会社
Real Estate · Real Estate Services
Sun Frontier Fudousan Co., Ltd. provides real estate revitalization services to building owners, asset holders, and wealthy individuals in Japan. It operates through Real Estate Revitalization Business, Real Estate Service Business, Hotel and Tourism Business, and Other Business segments. The company offers replanning; property management, leasing management, asset consulting, effective land use, and consulting services; hotel development, regional revitalization, and tourism business; and overseas, and construction business. It engages in development, sale, management, and brokerage of residential properties; and renovation planning, repair, and reform of commercial buildings, interior finishing works, and telecommunications works. Sun Frontier Fudousan Co., Ltd. was incorporated in 1999 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
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥116.1B
¥103.2B
¥79.9B
¥82.8B
¥71.3B
Cost of Sales
¥78.0B
¥70.9B
¥53.5B
¥60.0B
¥51.9B
Gross Profit
¥38.1B
¥32.2B
¥26.4B
¥22.8B
¥19.3B
SG&A
¥12.8B
¥10.9B
¥8.8B
¥7.9B
¥7.2B
Operating Income
¥25.4B
¥21.3B
¥17.6B
¥14.9B
¥12.1B
Non-Operating Income
¥303M
¥201M
¥399M
¥406M
¥614M
Dividend Income
—
—
—
—
¥0M
Interest Income
—
—
—
—
¥35M
Non-Operating Expenses
—
¥1.0B
¥625M
¥589M
¥526M
Interest Expense
—
¥905M
¥539M
¥477M
¥446M
Ordinary Income
¥23.3B
¥20.4B
¥17.4B
¥14.7B
¥12.2B
Pre-tax Income
¥23.2B
¥20.6B
¥17.3B
¥14.7B
¥12.1B
Income Taxes
¥6.9B
¥6.4B
¥5.3B
¥3.0B
¥4.7B
Current Tax
—
¥6.7B
¥4.8B
¥3.9B
¥4.8B
Deferred Tax
—
¥-307M
¥464M
¥-852M
¥-85M
Net Income (owners)
¥16.0B
¥14.2B
¥11.9B
¥11.6B
¥7.4B
Minority Interest
—
¥-13M
¥106M
¥108M
¥-6M
Comprehensive Income
—
¥14.8B
¥12.4B
¥12.0B
¥7.7B
EBITDA
¥28.8B
¥24.1B
¥19.8B
¥16.9B
¥13.8B
Goodwill Amort. (J-GAAP)
—
¥254M
¥75M
¥64M
¥78M
EPS
¥327.76
¥291.58
¥245.50
¥238.98
¥152.26
Shares Outstanding
—
48.7M
48.7M
48.6M
48.8M
Shares Issued (total)
—
48.8M
48.8M
48.8M
48.8M
Treasury Shares
—
0.0M
0.1M
0.1M
0.0M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥264.5B
¥218.2B
¥188.7B
¥152.5B
¥136.5B
Current Assets
¥225.7B
¥183.7B
¥159.5B
¥125.9B
¥110.9B
Cash & Deposits
¥39.3B
¥44.9B
¥47.9B
¥42.0B
¥30.1B
Trade Receivables
—
¥2.1B
¥2.1B
¥1.6B
¥945M
Non-Current Assets
¥38.8B
¥34.5B
¥29.1B
¥26.6B
¥25.6B
PP&E
¥26.2B
¥24.3B
¥22.3B
¥20.4B
¥18.8B
Goodwill
—
¥923M
¥579M
¥343M
¥408M
Intangible Assets
—
¥2.3B
¥1.2B
¥815M
¥572M
Deferred Tax Assets
—
¥2.0B
¥1.6B
¥2.0B
¥1.0B
Total Liabilities
¥144.1B
¥112.3B
¥94.2B
¥68.6B
¥62.1B
Current Liabilities
¥30.7B
¥26.7B
¥24.8B
¥16.4B
¥16.2B
ST Debt
¥10.4B
¥10.2B
¥12.3B
¥5.5B
¥6.9B
Taxes Payable
—
¥5.0B
¥3.0B
¥1.7B
¥3.5B
Non-Current Liabilities
¥113.4B
¥85.6B
¥69.5B
¥52.2B
¥45.8B
Total LT Borrowings
¥107.7B
¥82.2B
¥67.3B
¥50.2B
¥44.2B
Pension Obligations
—
¥1M
¥1M
¥5M
¥6M
Total Equity
¥120.4B
¥105.9B
¥94.4B
¥84.0B
¥74.5B
Capital Stock
—
¥12.0B
¥12.0B
¥12.0B
¥12.0B
Capital Surplus
—
¥6.5B
¥6.4B
¥6.4B
¥6.4B
Retained Earnings
¥95.3B
¥82.7B
¥71.7B
¥62.3B
¥52.9B
Treasury Stock
—
¥-202M
¥-233M
¥-270M
¥-67M
AOCI
—
¥1.2B
¥629M
¥271M
¥22M
Equity (owners)
¥118.2B
¥100.9B
¥89.9B
¥80.4B
¥71.3B
Minority Interests
—
¥3.7B
¥3.9B
¥3.2B
¥3.1B
Total Interest-Bearing Debt ⓘ
¥118.0B
¥92.5B
¥79.5B
¥55.7B
¥51.1B
Net Cash ⓘ
¥-78.8B
¥-47.5B
¥-31.7B
¥-13.6B
¥-21.0B
NCAV ⓘ
¥81.6B
¥71.4B
¥65.3B
¥57.3B
¥48.9B
NCAV/Share
—
¥1,466
¥1,341
¥1,179
¥1,002
BV/Share
—
¥2,072
¥1,847
¥1,653
¥1,462
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥-18.7B
¥-4.2B
¥-11.0B
¥16.5B
¥17.4B
Taxes Paid
—
¥-5.1B
¥-3.5B
¥-5.7B
¥-2.5B
Interest Paid
—
¥-893M
¥-536M
¥-490M
¥-447M
Interest Received
—
¥61M
¥71M
¥55M
¥35M
D&A
¥3.5B
¥2.6B
¥2.1B
¥2.0B
¥1.6B
Goodwill Amort.
—
¥254M
¥75M
¥64M
¥78M
Investing CF
¥-10.2B
¥-8.8B
¥-4.3B
¥-6.7B
¥-9.4B
CapEx
¥5.8B
¥4.0B
¥2.5B
¥7.5B
¥8.5B
Financing CF
¥22.8B
¥9.5B
¥21.0B
¥2.0B
¥449M
Dividends Paid
—
¥-3.2B
¥-2.5B
¥-2.2B
¥-3.1B
Share Buybacks
—
—
¥0M
¥-239M
—
LT Debt Repaid
—
¥-23.7B
¥-19.0B
¥-18.7B
¥-20.7B
Free Cash Flow
¥-24.5B
¥-8.3B
¥-13.5B
¥9.0B
¥9.0B
Net Change in Cash
—
¥-3.1B
¥6.0B
¥12.0B
¥8.6B
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
14.1%
14.7%
13.9%
15.3%
10.8%
ROA
6.6%
7.0%
7.0%
8.0%
5.4%
EPS
¥327.76
¥291.58
¥245.50
¥238.98
¥152.26
DPS
¥38.00
¥66.00
¥58.00
¥48.00
¥44.00
BPS
¥2,316.75
¥2,102.79
¥1,864.36
¥1,663.33
¥1,463.74
FCF/Share
—
¥-169
¥-276
¥185
¥184
NCAV/Share
—
¥1,466
¥1,341
¥1,179
¥1,002
Payout Ratio
11.6%
22.6%
23.6%
20.1%
28.9%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 12
Date Activist Stake Event Flag Demands Source
2026-05-18
AAGS Investment, Inc.
5.65%
-0.53%
change
Passive
—
2026-04-17
ITOCHU Corporation and SI Corporation
21.18%
increase
Passive
—
2026-04-16
ITOCHU Corporation and SI Corporation
21.18%
increase
Passive
—
2026-04-16
AAGS Investment, Inc.
6.18%
-5.48%
change
Passive
—
2026-04-08
ITOCHU Corporation
9.58%
initial_5pct
Passive
—
2026-03-11
AAGS Investment, Inc.
11.66%
change
Passive
—
2026-03-04
AAGS Investment, Inc.
11.66%
change
Passive
—
2025-12-05
Tomoaki Horiguchi
43.91%
-0.02%
correction
Passive
—
2025-12-05
Tomoaki Horiguchi
43.93%
change
Passive
—
2025-12-05
Tomoaki Horiguchi
43.93%
correction
Passive
—
2023-12-11
Tomoaki Horiguchi
43.89%
change
Passive
—
2023-10-16
AAGS Investment, Inc.
11.66%
initial_5pct
Passive
—
Capital Allocation Signals 1
Date
Type
Amount
Summary
2026-05-19
18:00
Div Increase
¥2.0B ¥38.0/sh
+15%
Sun Frontier Real Estate announced a dividend increase to ¥38.00 per share (¥1.968 billion total) for fiscal year ending…
Summary
Sun Frontier Real Estate announced a dividend increase to ¥38.00 per share (¥1.968 billion total) for fiscal year ending March 31, 2026, representing a 15.15% increase from the prior year's ¥33.00 per share. The dividend maintains the prior forecast announced on May 11, 2026, and reflects the company's commitment to stable long-term shareholder returns while preserving investment capital for future growth and financial strength.
Deadline: 2026-06-24
YoY: +15%
Source (JP)
1株当たり配当金は38円00銭、配当額の総額は1,968百万円。前期実績(2025年3月期)33円00銭、1,607百万円。
Top 10 Shareholders
Ownership DNA
#
Shareholder
Shares (thou.)
% of Total
1
株式会社報恩
18,507,500
37.99%
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)
4,602,500
9.45%
3
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託口)
2,578,100
5.29%
4
堀口智顕
2,483,074
5.10%
5
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部)
615,537
1.26%
6
BNY Mellon (Nominee)
THE BANK OF NEW YORK MELLON 140044(常任代理人 株式会社みずほ銀行決済営業部)
608,157
1.25%
7
DFA INTL SMALL CAP VALUE PORTFOLIO(常任代理人 シティバンク、エヌ・エイ東京支店)
489,000
1.00%
8
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505103(常任代理人 株式会社みずほ銀行決済営業部)
430,037
0.88%
9
堀口恵子
416,500
0.86%
10
サンフロンティア社員持株会
415,200
0.85%
Domestic Nominees
14.7%
+3.3% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
3.4%
+0.8% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
45.8%
-0.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
式会社報恩
36.91%
38.02%
37.99%
-0.03%
日本マスタートラスト信託銀行
8.46%
7.24%
9.45%
+2.21%
日本カストディ銀行
3.51%
4.18%
5.29%
+1.11%
堀口智顕
6.21%
5.09%
5.10%
+0.01%
State Street
↑
—
0.73%
2.14%
+1.41%
BNY Mellon
1.53%
1.83%
1.25%
-0.58%
DFA INTL SMALL CAP VALUE PORTFOLIO
0.87%
0.98%
1.00%
+0.02%
堀口恵子
0.86%
0.86%
0.86%
サンフロンティア社員持株会
—
0.85%
0.85%
JPモルガン証券
last seen 2024
Exited Top 10
1.13%
0.77%
—
エスカワゴエ
last seen 2023
Exited Top 10
3.21%
—
—
Morgan Stanley
last seen 2023
Exited Top 10
1.21%
—
—
Concentration (HHI)
ⓘ
1502
1548
1595
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved