Asian Star Co. engages in the planning, development and sale, holding and leasing, management, and brokerage of real estate properties in Japan. The company develops and sells detached and resort houses, manages and operates rental apartments, as well as provides real estate investment advisory services. It also offers non-life insurance agency services. The company was formerly known as Yoko Toshikaihatsu Co. and changed its name to Asian Star Co. in April 2015. Asian Star Co. was founded in 1979 and is based in Yokohama, Japan.
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Financials
Ownership
Material Events
Income Statement
Balance Sheet
Cash Flow
Ratios & Growth
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Net Sales
ยฅ4.5B
ยฅ3.4B
ยฅ2.1B
ยฅ2.5B
ยฅ2.5B
Cost of Sales
ยฅ3.4B
ยฅ2.5B
ยฅ1.3B
ยฅ1.7B
ยฅ1.7B
Gross Profit
ยฅ1.1B
ยฅ847M
ยฅ821M
ยฅ821M
ยฅ814M
SG&A
ยฅ930M
ยฅ796M
ยฅ767M
ยฅ773M
ยฅ817M
Operating Income
ยฅ196M
ยฅ51M
ยฅ53M
ยฅ48M
ยฅ-3M
Non-Operating Income
ยฅ19M
ยฅ19M
ยฅ16M
ยฅ21M
ยฅ19M
Dividend Income
โ
โ
โ
โ
ยฅ0M
Interest Income
ยฅ6M
ยฅ3M
ยฅ2M
ยฅ2M
ยฅ4M
Non-Operating Expenses
ยฅ30M
ยฅ11M
ยฅ22M
ยฅ27M
ยฅ12M
Interest Expense
ยฅ16M
ยฅ6M
ยฅ8M
ยฅ12M
ยฅ7M
Ordinary Income
ยฅ185M
ยฅ60M
ยฅ48M
ยฅ43M
ยฅ4M
Pre-tax Income
ยฅ164M
ยฅ59M
ยฅ48M
ยฅ75M
ยฅ2M
Income Taxes
ยฅ42M
ยฅ26M
ยฅ7M
ยฅ19M
ยฅ23M
Current Tax
ยฅ35M
ยฅ31M
ยฅ10M
ยฅ6M
ยฅ62M
Deferred Tax
ยฅ7M
ยฅ-4M
ยฅ-3M
ยฅ13M
ยฅ-39M
Net Income (owners)
ยฅ113M
ยฅ18M
ยฅ41M
ยฅ55M
ยฅ-22M
Minority Interest
ยฅ9M
ยฅ14M
โ
โ
โ
Comprehensive Income
ยฅ132M
ยฅ75M
ยฅ60M
ยฅ88M
ยฅ18M
EBITDA
ยฅ249M
ยฅ114M
ยฅ128M
ยฅ124M
ยฅ69M
Goodwill Amort. (J-GAAP)
ยฅ32M
ยฅ32M
ยฅ30M
ยฅ28M
ยฅ24M
EPS
ยฅ4.77
ยฅ0.78
ยฅ1.94
ยฅ2.88
ยฅ-1.12
Shares Outstanding
23.7M
23.7M
23.7M
19.2M
19.2M
Shares Issued (total)
23.8M
23.8M
23.8M
19.3M
19.3M
Treasury Shares
0.1M
0.1M
0.1M
0.1M
0.1M
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Total Assets
ยฅ4.0B
ยฅ3.3B
ยฅ3.6B
ยฅ3.1B
ยฅ3.1B
Current Assets
ยฅ2.6B
ยฅ2.2B
ยฅ2.6B
ยฅ2.1B
ยฅ1.9B
Cash & Deposits
ยฅ1.2B
ยฅ1.3B
ยฅ1.3B
ยฅ853M
ยฅ430M
Trade Receivables
ยฅ265M
ยฅ84M
ยฅ69M
ยฅ62M
ยฅ80M
Non-Current Assets
ยฅ1.4B
ยฅ1.1B
ยฅ985M
ยฅ1.0B
ยฅ1.2B
PP&E
ยฅ21M
ยฅ26M
ยฅ23M
ยฅ27M
ยฅ26M
Goodwill
ยฅ168M
ยฅ202M
ยฅ210M
ยฅ224M
ยฅ221M
Intangible Assets
ยฅ174M
ยฅ213M
ยฅ217M
ยฅ244M
ยฅ252M
Investment Securities
ยฅ418M
โ
โ
โ
ยฅ73M
Deferred Tax Assets
ยฅ3M
ยฅ10M
ยฅ6M
ยฅ5M
ยฅ11M
Total Liabilities
ยฅ1.7B
ยฅ1.0B
ยฅ1.5B
ยฅ1.4B
ยฅ1.4B
Current Liabilities
ยฅ1.4B
ยฅ729M
ยฅ947M
ยฅ858M
ยฅ777M
Accounts Payable
ยฅ11M
ยฅ7M
ยฅ20M
ยฅ18M
ยฅ26M
ST Debt
ยฅ770M
ยฅ176M
ยฅ192M
ยฅ266M
ยฅ124M
Taxes Payable
ยฅ40M
ยฅ24M
ยฅ18M
ยฅ8M
ยฅ47M
Non-Current Liabilities
ยฅ298M
ยฅ315M
ยฅ506M
ยฅ570M
ยฅ653M
Total LT Borrowings
ยฅ52M
ยฅ63M
ยฅ238M
ยฅ293M
ยฅ376M
Pension Obligations
ยฅ39M
ยฅ38M
ยฅ37M
ยฅ37M
ยฅ28M
Deferred Tax Liab.
โ
ยฅ0M
ยฅ0M
ยฅ3M
ยฅ5M
Total Equity
ยฅ2.4B
ยฅ2.3B
ยฅ2.2B
ยฅ1.7B
ยฅ1.6B
Capital Stock
ยฅ1.7B
ยฅ1.7B
ยฅ2.2B
ยฅ2.0B
ยฅ2.0B
Capital Surplus
ยฅ386M
ยฅ386M
ยฅ386M
ยฅ185M
ยฅ185M
Retained Earnings
ยฅ238M
ยฅ125M
ยฅ-381M
ยฅ-422M
ยฅ-459M
Treasury Stock
ยฅ-100M
ยฅ-100M
ยฅ-100M
ยฅ-100M
ยฅ-100M
AOCI
ยฅ116M
ยฅ106M
ยฅ64M
ยฅ45M
ยฅ12M
Equity (owners)
ยฅ2.2B
ยฅ2.1B
ยฅ2.1B
ยฅ1.7B
ยฅ1.6B
Minority Interests
ยฅ4M
ยฅ63M
โ
โ
โ
Total Interest-Bearing Debt โ
ยฅ822M
ยฅ239M
ยฅ431M
ยฅ559M
ยฅ500M
Net Cash โ
ยฅ398M
ยฅ1.1B
ยฅ848M
ยฅ295M
ยฅ-70M
NCAV โ
ยฅ979M
ยฅ1.2B
ยฅ1.2B
ยฅ667M
ยฅ444M
NCAV/Share
ยฅ41
ยฅ49
ยฅ50
ยฅ35
ยฅ23
BV/Share
ยฅ94
ยฅ89
ยฅ88
ยฅ86
ยฅ84
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Operating CF
ยฅ-205M
ยฅ568M
ยฅ146M
ยฅ455M
ยฅ121M
Interest Paid
ยฅ-12M
ยฅ-6M
ยฅ-8M
ยฅ-12M
ยฅ-6M
Interest Received
ยฅ6M
ยฅ3M
ยฅ2M
ยฅ2M
ยฅ4M
D&A
ยฅ21M
ยฅ30M
ยฅ45M
ยฅ48M
ยฅ48M
Goodwill Amort.
ยฅ32M
ยฅ32M
ยฅ30M
ยฅ28M
ยฅ24M
Investing CF
ยฅ-585M
ยฅ-266M
ยฅ7M
ยฅ-73M
ยฅ-227M
CapEx
ยฅ11M
ยฅ3M
ยฅ5M
ยฅ10M
ยฅ2M
Purchase Investments
ยฅ-84M
โ
ยฅ-2M
โ
ยฅ-70M
Financing CF
ยฅ591M
ยฅ-283M
ยฅ273M
ยฅ90M
ยฅ-449M
LT Debt Repaid
ยฅ-164M
ยฅ-219M
ยฅ-55M
ยฅ-89M
ยฅ-375M
Free Cash Flow
ยฅ-215M
ยฅ565M
ยฅ141M
ยฅ445M
ยฅ120M
Net Change in Cash
ยฅ-189M
ยฅ30M
ยฅ426M
ยฅ482M
ยฅ-528M
Metric
FY 2025
EDINET โ
FY 2024
EDINET โ
FY 2023
EDINET โ
FY 2022
EDINET โ
FY 2021
EDINET โ
Return on Equity (ROE) โ
4.9%
0.8%
2.1%
3.3%
-1.3%
Return on Assets (ROA) โ
3.1%
0.5%
1.2%
1.8%
-0.7%
Gross Margin โ
24.8%
25.3%
38.6%
33.0%
32.0%
Operating Margin โ
4.3%
1.5%
2.5%
1.9%
-0.1%
Net Margin โ
2.5%
0.6%
1.9%
2.2%
-0.8%
Current Ratio โ
1.93x
3.02x
2.78x
2.44x
2.41x
Quick Ratio โ
1.93x
3.02x
2.78x
2.44x
2.41x
Revenue / Share โ
ยฅ191
ยฅ141
ยฅ90
ยฅ130
ยฅ132
BV/Share โ
ยฅ94
ยฅ89
ยฅ88
ยฅ86
ยฅ84
NCAV/Share โ
ยฅ41
ยฅ49
ยฅ50
ยฅ35
ยฅ23
EPS โ
ยฅ4.77
ยฅ0.78
ยฅ1.94
ยฅ2.88
ยฅ-1.12
DPS โ
ยฅ0.00
ยฅ0.00
ยฅ0.00
ยฅ0.00
ยฅ0.00
Payout Ratio โ
0.0%
0.0%
0.0%
0.0%
โ
FCF/Share โ
ยฅ-9.08
ยฅ23.83
ยฅ5.92
ยฅ23.16
ยฅ6.22
Market Valuation
Avg daily close price for calendar year ร most recently reported EPS / DPS
Metric
CY2023
CY2024
CY2025
Avg P/E โ
49.2ร
EPS from 2023-12
111.0ร
EPS from 2024-12
19.4ร
EPS from 2025-12
Avg Div Yield โ
0.00%
DPS from 2023-12
0.00%
DPS from 2024-12
0.00%
DPS from 2025-12
Avg Daily Close
ยฅ95
ยฅ87
ยฅ93
Growth Rates (CAGR)
Metric
3yr CAGR (FY2022โ2025)
5yr CAGR
Stock Price
-10.1%
-5.4%
Sales
+22.2%
โ
FCF/Share
โ
โ
EPS
+18.3%
โ
DPS
โ
โ
BV/Share
+2.9%
โ
NCAV/Share
+6.0%
โ
No capital allocation signals recorded for this company.
Top 10 Shareholders
Ownership DNA
Large Shareholder Reports 6
#
Shareholder
Shares (thou.)
% of Total
1
D&W INTERNATIONAL DEVELOPMENT LIMITED ๏ผๅธธไปปไปฃ็ไบบ ๆฑๆตทๆฑไบฌ่จผๅธๆ ชๅผไผ็คพ๏ผ
4,900,000
2
KGI ASIA LIMITED-CLIENT ACCOUNT
KGI ASIA LIMITED-CLIENT ACCOUNT ๏ผๅธธไปปไปฃ็ไบบ ้ฆๆธฏไธๆตท้่กๆฑไบฌๆฏๅบ๏ผ
2,868,800
3
Boom Securities (H.K.) Limited-Clients'Account ๏ผๅธธไปปไปฃ็ไบบ ใใใใฏใน ่จผๅธๆ ชๅผไผ็คพ๏ผ
1,109,500
4
ใใฆใซใคใใฆใญใงใฆใปใญใฅใชใใฃใผใบใขใธใขใชใใใใ ๏ผๅธธไปปไปฃ็ไบบ ๆฑๆตทๆฑไบฌ่จผๅธๆ ชๅผไผ็คพ๏ผ
1,026,000
5
Futu Securities International (Hong Kong) Limited ๏ผๅธธไปปไปฃ็ไบบ moomoo่จผๅธๆ ชๅผไผ็คพ๏ผ
618,500
6
BBH/DBS BANK (HONG KONG) LIMITED A/C 005 NON US ๏ผๅธธไปปไปฃ็ไบบ ๆ ชๅผไผ็คพ ไธไบไฝๅ้่ก๏ผ
497,600
7
INTERACTIVE BROKERS LLC ๏ผๅธธไปปไปฃ็ไบบ ใคใณใฟใฉใฏใใฃใใปใใญใผใซใผใบ่จผๅธๆ ชๅผไผ็คพ๏ผ
493,900
8
SBI SECURITIES Co., Ltd.
ๆ ชๅผไผ็คพ๏ผณ๏ผข๏ผฉ่จผๅธ
398,636
9
Rakuten Securities, Inc.
ๆฅฝๅคฉ่จผๅธๆ ชๅผไผ็คพๅ
ฑๆๅฃ
339,900
10
ๆ ชๅผไผ็คพ่จผๅธใธใฃใใณ
337,500
Domestic Nominees
0.0%
+0.0% vs 2024
Trust bank custodians โ GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
53.1%
-6.8% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2021
2022
2023
2024
2025
D&W INTERNATIONAL DEVELOPMENT LIMITED
NEW ENTRY
โ
โ
โ
โ
โ
20.65%
NEW
KGI ASIA LIMITED-CLIENT ACCOUNT
KGI ASIA LIMITED-CLIENT ACCOUNT
2.72%
2.72%
16.95%
15.00%
12.09%
-2.91%
Boom Securities (H.K.) Limited-Clients'Account
NEW ENTRY
โ
โ
โ
โ
โ
4.68%
NEW
ใใฆใซใคใใฆใญใงใฆใปใญใฅใชใใฃใผใบใขใธใขใชใใใใ
NEW ENTRY
โ
โ
โ
โ
โ
4.32%
NEW
Futu Securities International (Hong Kong) Limited
NEW ENTRY
โ
โ
โ
โ
โ
2.61%
NEW
BBH/DBS BANK (HONG KONG) LIMITED A/C 005 NON US
NEW ENTRY
โ
โ
โ
โ
โ
2.10%
NEW
Interactive Brokers
NEW ENTRY
โ
โ
โ
โ
โ
2.08%
NEW
SBI SECURITIES Co., Ltd.
SBI่จผๅธ
4.45%
2.71%
1.07%
2.79%
1.68%
-1.11%
Rakuten Securities, Inc.
NEW ENTRY
ๆฅฝๅคฉ่จผๅธ
1.67%
2.19%
โ
โ
1.43%
NEW
ๅผไผ็คพ่จผๅธใธใฃใใณ
NEW ENTRY
โ
1.67%
โ
โ
1.42%
NEW
KGI ASIA LIMITED-D&W INTERNATIONAL DEVELOPMENT LIMITED
KGI ASIA LIMITED-D&W INTERNATIONAL DEVELOPMENT LIMITED
last seen 2024
Exited Top 10
25.49%
25.49%
20.65%
20.65%
โ
Monex Boom Securities (H.K.)Limited-Clients' Account
Monex Boom Securities (H.K.)Limited-Clients' Account
last seen 2024
Exited Top 10
1.75%
1.75%
3.90%
4.68%
โ
RILA INTERNATIONAL INVESTMENT CO LIMITED(ๅธธ ไปปไปฃ็ไบบ ใชใผใใฃใณใฐ่จผ ๅธๆ ชๅผไผ็คพ)
last seen 2024
Exited Top 10
โ
โ
โ
4.21%
โ
CITIC SECURITIES BROKERAGE (HK) LIMITED AC CLIENT
CITIC SECURITIES BROKERAGE (HK) LIMITED AC CLIENT
last seen 2024
Exited Top 10
4.52%
4.52%
3.66%
3.66%
โ
UNITED OVERSEAS BANK NOMINEES(PRIVATE) LIMITED
UNITED OVERSEAS BANK NOMINEES(PRIVATE) LIMITED
last seen 2024
Exited Top 10
โ
โ
โ
2.95%
โ
Futu Securities International(Hong Kong)Limited
Futu Securities International(Hong Kong)Limited
last seen 2024
Exited Top 10
โ
โ
โ
2.31%
โ
BBH/DBS BANK (HONG KONG)LIMITED A/C 005 NON US
BBH/DBS BANK (HONG KONG)LIMITED A/C 005 NON US
last seen 2024
Exited Top 10
2.94%
2.94%
2.10%
2.10%
โ
ๆๅ ่ฃๅ
last seen 2024
Exited Top 10
โ
โ
โ
1.56%
โ
State Street Bank and Trust Company
State Street
last seen 2023
Exited Top 10
4.16%
4.16%
2.95%
โ
โ
JPMorgan Securities Japan Co., Ltd.
JPใขใซใฌใณ่จผๅธ
last seen 2023
Exited Top 10
โ
โ
0.95%
โ
โ
ๆฑ ๅ้
last seen 2022
Exited Top 10
1.82%
1.82%
โ
โ
โ
ๅ ่ฏ่
last seen 2023
Exited Top 10
โ
โ
0.91%
โ
โ
RILA INTERNATIONAL INVESTMENT CO LIMITED
last seen 2023
Exited Top 10
1.56%
โ
4.21%
โ
โ
Concentration (HHI)
โ
735
725
776
733
636
5 fiscal years ยท top-10 holders per year ยท >2,500 HHI = high concentration ยท entity-resolved
โ CSV
Date Shareholder Stake Event Flag Demands Source
2025-07-14
ASIAN STAR CO.
22.85%
+1.53%
change
Passive
โ
2025-07-14
ZUITING XIA
9.5%
initial_5pct
Passive
โ
2025-07-14
Pentagram Capital Management Co., Ltd.
9.5%
initial_5pct
Passive
โ
2023-08-07
ASIAN STAR CO.
21.32%
correction
Passive
โ
2023-08-01
ASIAN STAR CO.
21.32%
-4.15%
change
Passive
โ
2023-06-22
ASIAN STAR CO.
25.47%
change
Passive
โ
Date
Category
Summary
Amount
2026-03-05
๐ค Management Change
Board
The company's current auditor, Audit Corporation Mahoroba, is being replaced by Seiryลซ Audit Corporation effective March 27, 2026. The change is necessitated by Mahoroba's removal from the registered list of auditors for listed companies, making continued audit services impossible. The new auditor was selected after reviewing firms appropriately sized for the company's business scale and audit fee reasonableness.
โ
โบ
Summary
The company's current auditor, Audit Corporation Mahoroba, is being replaced by Seiryลซ Audit Corporation effective March 27, 2026. The change is necessitated by Mahoroba's removal from the registered list of auditors for listed companies, making continued audit services impossible. The new auditor was selected after reviewing firms appropriately sized for the company's business scale and audit fee reasonableness.
Counterparty: Seiryลซ Audit Corporation (ๆฐไปป); Audit Corporation Mahoroba (้ไปป)
็ฃๆปๆณไบบใพใปใใฐใฏใ2026ๅนด๏ผๆ27ๆฅ้ๅฌไบๅฎใฎ็ฌฌ47ๆๅฎๆๆ ชไธป็ทไผใฎ็ต็ตใฎๆใใใฃใฆไปปๆๆบไบใจใชใใพใใๅ็ฃๆปๆณไบบใฏใไธๅ ดไผ็คพ็ญ็ฃๆปไบบๅ็ฐฟใฎ็ป้ฒใฎๆๅฆใฎ้็ฅใๅใใๅฝ็คพใฏใใฎๆจใๅใใพใใใ
โ