Lead Real Estate (ADR) (LRE)
Develops and sells urban residences, condominium projects, and extended-stay hotel properties.
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Sells luxury homes, condominium projects, and hotel properties after site-led development, with a smaller layer of hotel, leasing, brokerage, and property-management income. Most revenue comes from transactional real-estate sales, while founder control and project closings shape the business.
Develops and sells luxury single-family homes, whole condominium projects, and hotel properties under housing and urban-development lines including Excellence, More Excellence, EXCELSIOR, and Global Design. Development activity centers on Tokyo, Kanagawa, and Sapporo, with Japan the sole geographic reportable segment.
Operates a smaller recurring layer through ENT TERRACE apartment-style extended-stay hotels, JINRYU HOTEL long-stay lodging, residential leasing, brokerage, and property management; leasing also reaches Dallas. Site selection, planning, development, asset sales, and selected lease or management arrangements underpin the business.
Requires scarce land to be financed and acquired on commercially reasonable terms, while property and lodging operations remain subject to real-estate laws, permitting, site conditions, and disaster exposure. Founder Eiji Nagahara retains effective voting control, and whole-project closings can make revenue uneven.
Company facts
No analyst consensus on record.
Not reported.
Balance sheet, Dec 31, 2025Cash & short-term investments $6.5M · Total debt $114.3M · Total assets $160.8M · Shareholders' equity $28.4M
- Revenue
- $26.4M
- Operating income
- −$3.0M
- Net income
- −$3.0M
Reported in JPY, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | 0.61% | 83.0K ADS | |
|---|---|---|---|
| 3 holders · as of Jun 30, 2026 | |||
| Insiders | 89.78% | 12.25M ADS | |
| 3 holders · as of Mar 18, 2026 | |||
| Other | 9.61% | 1.31M ADS | |
| remainder | |||
13.64M ADS as of Sep 9, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Nagahara EijiInsiderdirector, 10 percent owner, officer: See remarks | 89.68% | 12.23M ordinary | filed Mar 18, 2026 |
Arbiter Partners Capital Management LLCInstitution | 0.47% | 64,752 ADS | as of Jun 30, 2026 |
Smartharvest Portfolios, LLCInstitution | 0.13% | 18,250 ADS | as of Jun 30, 2026 |
Kenichi HommaInsiderdirector | 0.07% | 9,091 ordinary | filed Mar 18, 2026 |
Hidekazu HamagishiInsiderdirector | 0.03% | 4,546 ordinary | filed Mar 18, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
Not reported.