Loadstar Capital Kk · TSE:3482

Loadstar Capital Kk — FY2025 Earnings Presentation

54 slides from Loadstar Capital Kk's earnings presentation, February 2026

Slide 1: FY2025 Financial Results
FY2025 Financial Results (Fiscal Year Ended December 31, 2025) Loadstar Capital K.K. TSE: 3482 February, 2026
Slide 3: Table of Contents
Table of C ontents 01 Highlights of FY2025 P. 3 02 Business Overview by Segment P. 12 03 Business Plan for FY 2026 P. 21 04 M&A Overview P. 24 05 Medium-Term Management Plan (FY2025-2027) P. 30 06 Our Strengths and Characteristics P. 41 07 Company Profile P. 47 08 Real Estate Market Materials P. 51
Slide 5: Highlights of FY2025
Highlights of FY2025 ⚫ Achieved 13 consecutive fiscal years of revenue and profit growth since the company's founding, and plans to increase dividends to 86 yen per share, exceeding the initial plan. ⚫ The real estate balance has also been increasing, and the Medium-Term Management Plan, with the fi
Slide 6: Topics of FY2025
Topics of FY2025 1 First ever M&A Through the acquisition of Hash DasH Holdings Co., Ltd. (hereinafter 'HHD') as a subsidiary, Loadstar Group acquired an operational structure for Type I Financial Instruments Business and a blockchain infrastructure. This enables the company to consistently provide
Slide 7: Consolidated Sales and Consolidated Profit before Income Taxes
Consolidated Sales and Consolidated Profit before Income Taxes ⚫ Consolidated net sales reached a record high of 44.6 billion yen (up 30% year-on-year), significantly exceeding the previous year's figures. Consolidated profit before income taxes also hit a record high of 11.6 billion yen (up 16% yea
Slide 8: Cost Controls and Human Capital Investment
Cost Controls and Human Capital Investment ⚫ Although expenses related to HIRAMATSU HOTELS increased, the total cost ratio was kept at the usual level through appropriate cost control. ⚫ We prioritize human capital investment and strive to provide appropriate compensation based on performance and a
Slide 9: Consolidated Statements of Income
Consolidated Statements of Income ⚫ Progress was generally in line with the plan, and planned profit was achieved as scheduled. ⚫ Along with the continuous increase in revenue and profits since the company's founding, EBITDA and EPS have also been steadily increasing. EBIT DA = Operating profit + De
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet ⚫ The real estate balance, which will serve as the future management foundation, has exceeded 90 billion yen, and we have secured sufficient cash on hand in preparation for flexible further increases. ⚫ The unrealized gains, which are the difference between the book value
Slide 11: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows ⚫ Although CF from operating activities is negative due to an increase in real estate inventory, financial institutions are showing a positive lending attitude. As a result of appropriate cash management, cash flow remains stable. ⚫ In the crowdfunding business,
Slide 12: Return to Shareholders
Return to Shareholders Basic Policy Loadstar strives to improve corporate value and shareholder profit by expanding business performance. Dividend Policy Loadstar aims to provide stable and continuous returns to shareholders, with a target dividend payout ratio of 18% or higher. The dividend per sha
Slide 14: Real Estate Investments
Real Estate Investments Mission Real Estate X Tech to Open Up a New Market 1. Real Estate Investments 2. Real Estate Tech Corporate Funding Asset Management Crowdfunding Business Business Business Investment in real estate using internal Management of investment real estate on Japan’s first real est
Slide 15: Corporate Funding Business Results (Real Estate Investment)
Corporate Funding Business Results (Real Estate Investment) ⚫ 9 properties were sold, and net sales increased by 22% year-on-year to 34.2 billion yen, the highest ever. ⚫ Anticipating the trend of returning to offices, we actively pursued acquisitions focused on office properties from the beginning
Slide 16: Corporate Funding Business Results (Real Estate Leasing)
Corporate Funding Business Results (Real Estate Leasing) ⚫ In addition to the return to office work, rent levels are rising due to limited new supply of medium-sized offices, and demands from travelers to Japan continues to be strong following last year. As a result, rental income from offices and h
Slide 17: Corporate Funding Business Results (Hotel Operations)
Corporate Funding Business Results (Hotel Operations) ⚫ Net sales from hotel operations were 4.26 billion yen, and operating costs were 4.24 billion yen (of which depreciation was approximately 0.6 billion yen). ⚫ Although competition is intensifying, and the impact of rising labor costs and prices
Slide 18: Corporate Funding Business Results
Corporate Funding Business Results ⚫ Leveraging good relationships with financial institutions, the company actively acquired medium-sized offices in Tokyo, increasing real estate inventory and unrealized gains. The average acquisition amount per property has also increased. ⚫ In a market where vaca
Slide 19: Asset Management Business Results
Asset Management Business Results ⚫ Successfully sold a large-scale property, resulting in significant incentive fee being recorded. Net sales increased by 48% year-on-year, reaching a record high of 1.7 billion yen. ⚫ Although AUM decreased to 110 billion yen, there are new contracted transactions,
Slide 20: Real Estate Tech
Real Estate Tech Mission Real Estate X Tech to Open Up a New Market 1. Real Estate Investments 2. Real Estate Tech Corporate Funding Asset Management Crowdfunding Business Business Business Investment in real estate using internal Management of investment real estate on Japan’s first real estate fun
Slide 21: Crowdfunding Business Results
Crowdfunding Business Results ⚫ With the strong real estate market conditions, net sales increased by 26% year-on-year to 0.8 billion yen, the highest ever. ⚫ Operating loans related to the crowdfunding business maintained the same level as the previous year at 9.2 billion yen. ⚫ In addition to intr
Slide 23: Business Plan for FY2026
Business Plan for FY2026 ⚫ Planning for a 26% increase in sales, 16% increase in pre-tax profit, and the 14th consecutive fiscal year of revenue and profit growth. Also planning a dividend of 98 yen per share, aiming for the 9th consecutive year of dividend increase. ⚫ Given the strong demand for of
Slide 24: Real Estate Market Outlook and Segment-Specific Business Strategies
Real Estate Market Outlook and Segment-Specific Business Strategies Real Estate Market Outlook Business Strategies Corporate Funding Business ⚫ The trend of returning to offices continues, with vacancy • We will accelerate the acquisition of properties, primarily focusing on rates declining and rent
Slide 26: M&A Overview
M&A Overview We have made Hash DasH Holdings Co., Ltd. (hereinafter HHD) a subsidiary. HHD develops and owns a security token platform (blockchain infrastructure) and has a securities company specialized in security tokens (ST) within its group. Company to be Acquired Hash DasH Holdings Co., Ltd. 10
Slide 27: Establishing Competitive Advantage through M&A
Establishing Competitive Advantage through M&A ⚫ Through mutual complementation between Loadstar Group and HHD Group, all resources necessary for promoting the ST business have been internalized. ⚫ We plan to establish a competitive advantage over competitors and strongly expand this business. Compa
Slide 28: Positioning in Loadstar Group's Business Strategy
Positioning in Loadstar Group's Business Strategy ⚫ As a long-term goal, the company aims to “open up the real estate sector to individuals,” and the ST platform is expected to expand the base of individual investors. ⚫ Establish a unique position in the rapidly expanding real estate ST market. Open
Slide 29: Security Token Market
Security Token Market ⚫ The market is expanding, with approximately 577.3 billion yen in outstanding ST projects and a cumulative ST issuance of about 293.6 billion yen planned by the end of 2025. ⚫ The amount of newly issued STs from January to October 2025 was 144.9 billion yen, significantly exce
Slide 30: Definitions
Definitions Security Tokens (ST) are considered to be representations of rights typically displayed on securities such as stock certificates or corporate bonds, but in the form Security Tokens (ST) of property values (often expressed as 'tokens') that can be transferred using electronic information
Slide 32: Basic Policy
Basic Policy Lead real estate investment through the fusion of Basic Policy advanced expertise and IT, and become one-of-a-kind independent company. Environmental Response Policy Business Strategy Awareness Population decline and urban areas Accumulation of real estate balance and AUM Concentrated i
Slide 33: Progress of Management Indicators
Progress of Management Indicators ⚫ To achieve the target sales and pre-tax profit for 2027, we plan to steadily produce results in 2025 and expect further growth in 2026. ⚫ We aim for an ROE of 25% or higher. Although it may decrease slightly due to an increase in equity capital from profit expansi
Slide 34: Business Strategy
Business Strategy Corporate Funding Business (Real Estate Investment/Leasing) Expansion of Real Estate Stock ■Business Development■ • While expanding investment in offices, which are attracting renewed attention due to rapidly Appraisal Value improving vacancy rates and rents, Loadstar is also looki
Slide 35: Business Strategy
Business Strategy Asset Management Business Crowdfunding Business Establishing a position as an independent Opening up real estate investment mid-sized asset management company opportunities to individuals Accumulation of AUM (billions of yen) OwnersBook Investment Amount (billions of yen) 300 20 13
Slide 36: Capital Allocation
Capital Allocation ⚫ The majority of cash inflow from operations will be used for growth investments. 有利子負債匿名組合出資預り金 ⚫ We will accumulate real estate holdings as a future revenue base and expand our balance sheet while maintaining その他負債 financial discipline. 純資産現金及び預金有利子負債 Capital Allocation 匿名組合
Slide 37: Enhancement of Corporate Value
Enhancement of Corporate Value We aim to improve ROE/PER through various measures. ➢ Enhancement of IR activities Expected Growth ➢ Strengthening information dissemination Rate PER ➢ Reduction of performance volatility Shareholders’ ➢ Strengthening governance Equity Cost PBR ➢ Discovery of propertie
Slide 38: Increasing PER
Increasing PER Fostering Expectations for Profit Growth Current Situation While investors have given a certain level of recognition for our high profitability, Assessment it is difficult to say that there are high expectations for future growth. ・Formulation and execution of growth strategies ➢ We a
Slide 39: Incentive Design Based on Share Price Performance
Incentive Design Based on Share Price Performance Directors' compensation system Based on the deliberations and recommendations of the Nomination and Compensation Committee, Fixed Compensation which consists of a majority of independent outside directors, the determination is made considering the co
Slide 40: Shareholder Returns
Shareholder Returns Basic Policy Loadstar strives to improve corporate value and shareholder profit by expanding business performance. Dividend Policy Loadstar aims to provide stable and continuous returns to shareholders, with a target dividend payout ratio of 18% or higher. Dividend Amount and Pay
Slide 41: Corporate Governance Initiatives
Corporate Governance Initiatives 1 Strengthening Governance Strengthening of Corporate Initiatives to Date Governance Structure Outside Officers Ratio of 50% Percentage of Female Officers: 20% Items KPIs (by 2030) Establishment of the Nomination and Conducting Board Evaluation Ratio of Female Compen
Slide 43: Value Creation in the Corporate Funding Business
Value Creation in the Corporate Funding Business Why are we targeting mid-sized offices in the Tokyo's 23 wards for investment? Office conditions for small and New supply of mid-sized Positioning medium-sized enterprises (SMEs) buildings (K ㎡) Large Buildings: gross floor area ≧10,000㎡ Central Tokyo
Slide 44: Competitive Advantage of Corporate Funding Business
Competitive Advantage of Corporate Funding Business Trust Strengths at Every Phase, Based on Trust phase 1 phase 3 phase 4 phase 2 Over 20 years of Information Increase Solid track experience and Acquisition Building gathering value record real estate network ⚫ Over 20 years of real ⚫ Quick decision
Slide 45: Asset Management Business
Asset Management Business Experties Strengths at Every Phase, Based on Expertise Solid relationships phase 1 phase 2 phase 3 with investors Acquisition Management Sale Recurring fee business ⚫ Formulating ⚫ Enhancing property ⚫ Formulating exit Expertise in investment value to maximize strategies im
Slide 46: OwnersBook Features
OwnersBook Features 1 Differences between Loan-Type and Equity-Type and their business models Loan-Type Funds collected from investors through Loan Lending crowdfunding are lent out with real Real estate (Mortgage) Investors estate as collateral, and investors 400 million receive dividends from inte
Slide 47: OwnersBook Features (Loan-Type)
OwnersBook Features 2 (Loan-Type) A Win-Win mechanism for both investors and borrowers Borrowers Investors Quick origination Financing collateral Small investment Little time & effort is capacity amounts required Faster originations than We can provide loans with a Lending Investment Easy investment
Slide 49: Company Profile (as of December 31, 2025)
Company Profile（as of December 31, 2025） Company Name Loadstar Capital K.K Prime Ginza Yanagidori Building, 1-9-13 Ginza, Address Chuo-ku, Tokyo, Japan Founded March 14, 2012 Tatsushi Iwano, Paid-in Capital 1.4 billion yen President Stock Listing Tokyo Stock Exchange, Prime Market (3482) Organizatio
Slide 50: Reference: Loadstar Group after M&A
Reference: Loadstar Group after M&A Loadstar Capital K.K. Company Name Business 100% 100% Ownership Group Oversight Ownership Loadstar Capital K.K. Corporate Funding, Headquarters Loadstar Investments K.K Asset Management Loadstar Investments K.K Crowdfunding Business HDI K.K. 100% Ownership Loadsta
Slide 51: Shareholders
Shareholders ⚫ IR initiatives aimed at overseas investors, such as enhancing English disclosure materials and distributing sponsored reports, have resulted in an increase in the ratio of foreign institutional investors, which was one of our goals. ⚫ Loadstar also places importance on individual inve
Slide 53: Real estate investment from overseas
Real estate investment from overseas ⚫ Due to large transactions such as Tokyo Garden Terrace Kioicho, Tokyu Plaza Ginza, and Shiodome City Center, overseas investments in Tokyo's five central wards accounted for 50% of the total domestic investment. Tokyo also ranked first in the global city invest
Slide 54: Disclaimers
Disclaimers The contents of this document are being supplied to you solely f or your inf ormation and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published in whole or in part, f or any purpose without our prior permission. This document is being

Loadstar Capital K.K. — FY2025 Earnings Presentation on 6ix

Loadstar Capital Kk — FY2025 Earnings Presentation

Slide 1: FY2025 Financial Results

Slide 2: Mission: Real Estate X Tech to Open Up a New Market

Slide 3: Table of Contents

Slide 4: Highlights of FY2025

Slide 5: Highlights of FY2025

Slide 6: Topics of FY2025

Slide 7: Consolidated Sales and Consolidated Profit before Income Taxes

Slide 8: Cost Controls and Human Capital Investment

Slide 9: Consolidated Statements of Income

Slide 10: Consolidated Balance Sheet

Slide 11: Consolidated Statements of Cash Flows

Slide 12: Return to Shareholders

Slide 13: Business Overview by Segment

Slide 14: Real Estate Investments

Slide 15: Corporate Funding Business Results (Real Estate Investment)

Slide 16: Corporate Funding Business Results (Real Estate Leasing)

Slide 17: Corporate Funding Business Results (Hotel Operations)

Slide 18: Corporate Funding Business Results

Slide 19: Asset Management Business Results

Slide 20: Real Estate Tech

Slide 21: Crowdfunding Business Results

Slide 22: Business Plan for FY 2026

Slide 23: Business Plan for FY2026

Slide 24: Real Estate Market Outlook and Segment-Specific Business Strategies

Slide 25: M&A Overview

Slide 26: M&A Overview

Slide 27: Establishing Competitive Advantage through M&A

Slide 28: Positioning in Loadstar Group's Business Strategy

Slide 29: Security Token Market

Slide 30: Definitions

Slide 31: Medium-Term Management Plan (FY2025-2027)

Slide 32: Basic Policy

Slide 33: Progress of Management Indicators

Slide 34: Business Strategy

Slide 35: Business Strategy

Slide 36: Capital Allocation

Slide 37: Enhancement of Corporate Value

Slide 38: Increasing PER

Slide 39: Incentive Design Based on Share Price Performance

Slide 40: Shareholder Returns

Slide 41: Corporate Governance Initiatives

Slide 42: Our Strengths and Characteristics

Slide 43: Value Creation in the Corporate Funding Business

Slide 44: Competitive Advantage of Corporate Funding Business

Slide 45: Asset Management Business

Slide 46: OwnersBook Features

Slide 47: OwnersBook Features (Loan-Type)

Slide 48: Company Profile

Slide 49: Company Profile (as of December 31, 2025)

Slide 50: Reference: Loadstar Group after M&A

Slide 51: Shareholders

Slide 52: Real Estate Market Materials

Slide 53: Real estate investment from overseas

Slide 54: Disclaimers