■Summary

Clear ＜2998＞ is developing business in the online real estate investment market as a leading real estate investment crowdfunding company. The business structure is a single segment of the asset management platform business, and the real estate fund online market service “CREAL” (investment amount 0.01 million yen and up) for individual investors utilizing crowdfunding, the asset management service “CREAL PRO” targeting large-scale real estate for institutional investors and the ultra-wealthy, and “CREAL”, a medium- to long-term asset management service targeting real estate for individual investors There are 3 “PB”.

1. Summary of financial results for the 2nd quarter of the fiscal year ending March 31, 2025

Consolidated financial results for the second quarter of the fiscal year ending March 31, 2025 include net sales of 21672 million yen (up 132.2% from the same period last year), gross profit of 2651 million yen (up 52.5% from the same period), operating income of 1032 million yen (up 75.3% from the same period), ordinary profit of 973 million yen (up 71.8% from the same period), and interim net income attributable to parent company shareholders of 741 million yen (up 112.1% from the same period), and a significant increase in both sales and profit achieved. The main reason for the increase in sales was the sale of large properties in “CREAL PRO.” It has already been factored in the initial earnings forecast, but it was sold as planned in the first quarter, and sales of 10011 million yen were recorded, up 918.5% from the same period last year. Sales of 9 properties of “CREAL” progressed, and sales of “CREAL PB” increased 46.4% from the same period to 7549 million yen, and sales of “CREAL PB” increased 28.3% from the same period due to an increase in the number of sales of investment-class residences to 3918 million yen. In terms of profit, gross profit, which is the company's most important profit indicator, increased 52.5% from the same period to 2651 million yen, an increase of 10.6 points. On the cost side, labor costs and advertising costs increased, but since the amount recorded in the interim period as retail and administration expenses as a whole remained almost as planned at the beginning of the fiscal year, it led to a drastic increase in profits.

2. Earnings forecast for the fiscal year ending 2025/3

The consolidated earnings forecast for the fiscal year ending 2025/3 leaves the initial earnings forecast unchanged, with sales of 43600 million yen (up 107.2% from the previous fiscal year), gross profit of 4750 million yen (up 33.3% from the same period), operating income of 1350 million yen (up 37.7% from the same period), ordinary income of 1250 million yen (up 32.8% from the same period), and net income attributable to parent company shareholders of 850 million yen (up 31.3% from the same period). Although SG&A expenses have increased drastically, we are planning to exit the abundant pipeline accumulated by the main force “CREAL,” and we anticipate a significant increase in sales and profit. It is progressing smoothly toward achieving the full-year plan, such as selling large properties as initially planned with “CREAL PRO,” and we aim to achieve the plan by developing measures as planned even in the second half of the fiscal year.

3. growth strategy

Since “CREAL” is leading the company's overall growth, it is a policy to continue aggressive marketing and IT investment. Also, based on the situation where partnerships with SBI Holdings ＜8473＞ are becoming more active, we have set an annual GMV80 billion yen and a cumulative total of 0.18 million investors as medium-term targets (target for the fiscal year ending 2027/3). We aim to increase sales and profits for each service by making the most of the “CREAL” platform, which is a feature of the company. In the future, it will efficiently be provided and operated through the DX platform as an asset management company that responds to the investor needs of all customer groups such as investment entry groups, investment experience groups, asset formation layers, wealthy people, and institutional investors, etc., and alternative assets in general (for example, airplanes, ships, solar power generation systems, etc.) centered on real estate will be added to asset management targets to respond to needs.

As for the future product lineup related to real estate, in addition to the untokou type 1 and 2 products currently being handled, it is planned to prepare untokuwa type 3 and 4 products. Furthermore, it was decided to enter the hotel management business and “CREAL HOTELS” will be developed. In 2024/11, we announced a business alliance with TAT Co., Ltd. (hereafter, TAT) and the establishment of an equity method related company. By incorporating hotels with strong demand against the backdrop of inbound traffic, we aim to stabilize the profit base by realizing continuous asset management, such as crowdfunding for individual investors in “CREAL” and large-scale fund formation for institutional investors in “CREAL PRO.”

■Key Points

・The second quarter of the fiscal year ending March 31, 2025 achieved a significant increase in sales and profit compared to the same period last year

・For the fiscal year ending 2025/3, we plan to achieve significant growth of over 100% compared to the previous fiscal year in terms of sales and 30% or more in terms of profit at each stage

・Entered the hotel management business, began full-scale business alliances with leading companies, and pursued synergy with existing businesses

(Author: FISCO Analyst Tomokazu Murase)