Slide 1: Fiscal Year Ending March 2027 Q1 Financial Results Presentation Material
August 2026 Fiscal Year Ending March 2027 Q1 Financial Results Presentation Material クリアル株式会社 Securities Code: 2998 © CREAL © CREAL Inc. Inc. All Rights All Rights Reserved. Reserved. 1
Slide 2: Table of Contents
Table of Contents 01 Executive Summary 02 Company and Business Overview 03 Q1 Financial Results by Segment and Highlights 04 Earnings Forecast and Progress 05 Appendix * In this document, figures are truncated below one million yen and rounded to nearest unit for amounts in hundred million yen or un
Slide 3: Table of Contents
Table of Contents 01 Executive Summary 02 Company and Business Overview 03 Q1 Financial Results by Segment and Highlights 04 Earnings Forecast and Progress 05 Appendix © CREAL Inc. All Rights Reserved. 3
Slide 4: FY2027 Q1 Consolidated Financial Results
01 Executive Summary FY2027 Q1 Consolidated Financial Results During Q1, PRO, PB, and other businesses delivered significant year-on-year profit growth, while the core CREAL business declined year-on-year as resources were focused on acquiring large-scale projects and the budget was weighted toward
Slide 5: Aiming to Sustain High Growth This Fiscal Year
01 Executive Summary Aiming to Sustain High Growth This Fiscal Year Slow start in 1Q, with fewer fund formations and sales planned in the budget. Accelerate fund formations from 2Q onward to drive strong growth in profit and GMV. （million yen） Consolidated Gross Profit （million yen） Consolidated Ope
Slide 6: Key Topics for FY2027 Q1
01 Executive Summary Key Topics for FY2027 Q1 • The Osaka Kita Semba Hotel Fund began offering in June 2026 and completed Largest-Ever Real fundraising. With GMV of ¥7.21 billion, it was the largest-ever CREAL project, with revenue recognized upon the start of operations at the end of July. Estate C
Slide 7: 【HOTELS】New Hotel Opening Highlights
01 Executive Summary 【HOTELS】New Hotel Opening Highlights CREAL HOTELS’ new brand, VAYS, is scheduled to open its first property, VAYS TOKYO STATION EAST, in December 2026, with advance reservations available from July 1, 2026. In addition, the Kamakura Hotel, currently operated through real estate
Slide 8: 【CREAL】Business Partnership for a New Real Estate Crowdfunding Scheme
01 Executive Summary 【CREAL】Business Partnership for a New Real Estate Crowdfunding Scheme On August 14, 2026, announced a basic agreement with Singapore-based real estate co- investment platform RealVantage to diversify funding and drive GMV growth through a preferred/subordinated investment scheme
Slide 9: On Q1 Results Under the H2-Weighted Budget
01 Executive Summary On Q1 Results Under the H2-Weighted Budget This fiscal year, in addition to more deal monetization being weighted to H2, we set a second-half- weighted budget due to our efforts toward launching the real estate ST business and continued upfront investment in the hotel operations
Slide 10: Shareholder Benefit Program: Changes & Expansion
01 Executive Summary Shareholder Benefit Program: Changes & Expansion To further enhance the appeal of investing in our shares and strengthen engagement with shareholders through DX, we will change and expand our shareholder benefit program starting from the record date of end-September 2026. ② 1,00
Slide 11: Table of Contents
Table of Contents 01 Executive Summary 02 Company and Business Overview 03 Q1 Financial Results by Segment and Highlights 04 Earnings Forecast and Progress 05 Appendix © CREAL Inc. All Rights Reserved. 11
Slide 12: Transforming Real Estate Investment for a Better Future
02 Company and Business Overview Corporate Mission Transforming Real Estate Investment for a Better Future Promoting the digital transformation (DX) of the real estate investment process innovatively. Through real estate investment, we create asset management services that are accessible, user-frien
Slide 13: Company Highlights
02 Company and Business Overview Company Highlights Asset Management Leading Company in DX Company Real Estate Crowdfunding Asset Management Platform Business Online Marketplace Promoting the DX*1 of the asset management for Real Estate Funds processing real estate investment Leading Company in a Gr
Slide 14: Why Real Estate Investment? Why DX?
02 Company and Business Overview Why Real Estate Investment? Why DX? Japan’s asset management policy tends to favor high-risk, high-return stock investments. By combining DX with real estate investment - a medium-risk, medium-return option - we aim to make stable asset management accessible to every
Slide 15: Expansion of the Real Estate Online Investment Market Including Real Estate Security Token (ST)
02 Company and Business Overview Expansion of the Real Estate Online Investment Market Including Real Estate Security Token (ST) Fund The real estate crowdfunding market under the Real Estate Specified Joint Enterprise Act exceeded 170 billion yen in FY2024. The real estate Security Token (ST) marke
Slide 16: Asset Management Platform Business
02 Company and Business Overview Asset Management Platform Business Attracting a Wide Range of Investors Operating an asset management platform that leverages DX to deliver self-structured investment products to a broad range of investors. CREAL is our core growth driver, aiming to democratize real
Slide 17: Our Competitive Advantages
02 Company and Business Overview Our Competitive Advantages In addition to acquiring the FTK electronic transaction business license, our competitive advantage lies in the deep know-how and integration across system development, investment management, and marketing. 1 2 1 System Engineering Team Sys
Slide 18: Executive Management
02 Company and Business Overview Executive Management Joined the Company as President and CEO in April 2017, following tenure at Accenture, Orix, LaSalle Investment Management, and Shinsei Bank. Daizo Yokota Member, Ministry of Land, Infrastructure, Transport and Tourism’s 2020 President & CEO, Comm
Slide 19: Executive Management: Outside Directors/Audit & Supervisory Board Members
02 Company and Business Overview Executive Management: Outside Directors/Audit & Supervisory Board Members Outside Directors (Independent) Mirai Murakami Satoshi Sadakata Miyuki Tani Founded somebuddy Inc. after roles at Joined The Mitsubishi Bank, Ltd. (now MUFG Began career in audit at Arthur Ande
Slide 20: Table of Contents
Table of Contents 01 Executive Summary 02 Company and Business Overview 03 Q1 Financial Results by Segment and Highlights 04 Earnings Forecast and Progress 05 Appendix © CREAL Inc. All Rights Reserved. 20
Slide 21: Gross Profit by Service Segment
03 Q1 Financial Results by Segment and Highlights Gross Profit by Service Segment Profit declined significantly year on year in our core CREAL Business as we focused on acquiring large- scale properties. PRO/PB/Other Businesses delivered significant profit growth, but consolidated gross profit decli
Slide 22: Our Profit Structure and KPIs × Take Rate
03 Q1 Financial Results by Segment and Highlights Our Profit Structure and KPIs As a market leader in a growing sector, we prioritize upfront investments for growth over near-term expansion of operating profit and net income. We emphasize gross profit—an indicator of the value created on our platfor
Slide 23: 【CREAL】Overview of CREAL Fund Business
03 Q1 Financial Results by Segment and Highlights 【CREAL】Overview of CREAL Fund Business Only one fund was formed in Q1, bringing the average fund size down to ¥1.44 billion. Including the ¥7.21 billion fund formed in July, the average fund size increases to ¥4.33 billion. We aim to expand GMV this
Slide 24: 【CREAL HOTELS】Landmark Project Initiatives
03 Q1 Financial Results by Segment and Highlights 【CREAL HOTELS】Landmark Project Initiatives Focused on acquiring three Osaka hotels, our largest-ever transaction, and closed the acquisition at the end of July while securing hotel management contracts. A fund was formed for Garner Hotel Osaka Honmac
Slide 25: 【CREAL HOTELS】Structuring Our Largest-Ever GMV Fund
03 Q1 Financial Results by Segment and Highlights 【CREAL HOTELS】 Structuring Our Largest-Ever GMV Fund Garner Hotels is a midscale conversion brand launched by IHG Hotels & Resorts in August 2023. The Osaka Kitasenba Hotel Fund, which began fundraising at the end of June, achieved GMV of approx. ¥7.
Slide 26: 【CREAL】Trend in KPIs ①
03Q1第1四半期 03 業績報告 Financial Results by Segment and Highlights 【CREAL】 Trend in KPIs ① Cumulative investors steadily grew to over 144K, achieved through efficient acquisition with controlled ad-spend and CPA. Although GMV fell short of the plan, structuring under the FTK3&4 schemes has moved out of t
Slide 27: 【CREAL】Trend in KPIs ②
03 Q1 Financial Results by Segment and Highlights 【CREAL】Trend in KPIs ② Supported by a highly loyal base, the repeat investment rate remains at a high level. While the rate may fluctuate temporarily during periods of rapid new member acquisition, it has stayed at a healthy level. （人） Trends in Repe
Slide 28: 【PRO】Fee Structure
03 Q1 Financial Results by Segment and Highlights 【PRO】Fee Structure Enhanced CREAL platform’s fundraising and property volume have strengthened relations with domestic and global institutional investors and ultra-high-net-worth clients. We pursue gain on sales, transaction revenue and revenue for t
Slide 29: 【PRO】Progress in Hotel Development Projects
03 Q1 Financial Results by Segment and Highlights 【PRO】Progress in Hotel Development Projects In FY2026, multiple hotel asset development initiatives were launched. These are positioned as efforts to build a future pipeline for CREAL and CREAL ST, with continued acceleration of expansion. Yodoyabash
Slide 30: 【PB】DX and Competitive Advantage Driven by CREAL PB
03 Q1 Financial Results by Segment and Highlights 【PB】DX and Competitive Advantage Driven by CREAL PB Achieved steady growth by maintaining and improving gross margin on sectional residences through an area-focused strategy and higher fee income. Revenue × Gross Margin ＝ Gross Profit （million yen） （
Slide 31: 【HOTELS】Target Segments
03 Q1 Financial Results by Segment and Highlights 【HOTELS】Target Segments Target segments are limited-service hotels in the mid-to-high price range, and near- future hotels that embody “more freedom, more innovative, and enhanced lodging experience value” by leveraging our core strength in DX. Limit
Slide 32: 【HOTELS】Pursuing Group Synergies
03 Q1 Financial Results by Segment and Highlights 【HOTELS】Pursuing Group Synergies By managing hotel operations within the group, we have strengthened collaboration among CREAL Group companies. Planning Capability Operational Capability Creating project Leveraging hotel opportunities aligned operati
Slide 33: 【HOTELS】Maximizing Hotel Profitability through DX, AI and Marketing
03 Q1 Financial Results by Segment and Highlights 【HOTELS】Maximizing Hotel Profitability through DX, AI and Marketing ⚫ Development of a proprietary revenue management system utilizing AI ⚫ Leveraging data-driven insights to increase hotel sales AI Hotel Revenue Growth × DX Operational Cost Reductio
Slide 34: 【HOTELS】Hotel Operations Pipeline
03 Q1 Financial Results by Segment and Highlights 【HOTELS】Hotel Operations Pipeline CREAL HOTELS’ managed rooms increased from 273 across 4 properties to 791 across 7, with the current pipeline expected to exceed 1,000 rooms. Hotel Operations Pipeline Sapporo HOTEL for Further Growth 10 Properties/
Slide 35: Strengthening the Financial Base through the FTK3&4 Schemes and Capital Increase
03 Q1 Financial Results by Segment and Highlights Strengthening the Financial Base through the FTK3&4 Schemes and Capital Increase By leveraging the FTK3&4 schemes, we expect to enhance asset efficiency and financial soundness through the off-balance treatment of assets, while strengthening our equi
Slide 36: Table of Contents
Table of Contents 01 Executive Summary 02 Company and Business Overview 03 Q1 Financial Results by Segment and Highlights 04 Earnings Forecast and Progress 05 Appendix © CREAL Inc. All Rights Reserved. 36
Slide 37: FY2027 Full Year Forecast
04 Earnings Forecast and Progress FY2027 Full Year Forecast Q1 progress toward the FY2027 full-year earnings forecast was 11.1% for consolidated gross profit, (6.3%) for consolidated operating profit, (7.6%) for consolidated ordinary profit, and (8.5%) for consolidated net income. Pipeline projects
Slide 38: 【CREAL】Property Sales Pipelines
04 Earnings Forecast and Progress 【CREAL】Property Sales Pipelines Only one commercial property was sold in Q1. Assets under management have grown to approximately ¥43.8 billion, providing a pipeline for future property sales and sequential profit recognition. FY2027 CREAL Fund Operation and Redempti
Slide 39: 【CREAL】Property Acquisition Pipeline from Q2 Onward
04 Earnings Forecast and Progress 【CREAL】 Property Acquisition Pipeline from Q2 Onward * Only includes properties where acquisition probability had increased as of Aug 14, 2026 No. Location Asset Type Planned Amount (GMV) No. Location Asset Type Planned Amount (GMV) FY3/27 Pipeline Fund Formed FY3/2
Slide 40: 【PRO】Deal Pipeline
04 Earnings Forecast and Progress 【PRO】 Deal Pipeline Mandate accumulation for AM-mandated deals in the CREAL PRO business progressed in H1, but closing timing is weighted to H2. In addition to the pipeline shown below, we are also pursuing land acquisition for apartment hotel development on our own
Slide 41: Progress of the Medium-Term Management Plan: Gross Profit and Net Income
04 Earnings Forecast and Progress Progress of the Medium-Term Management Plan: Gross Profit and Net Income In Year 1 of the Medium-Term Management Plan, gross profit increased 37.6% year-on-year and net income increased 43.7% year-on-year, achieving strong growth as planned. The Company also entered
Slide 42: Progress of the Medium-Term Management Plan: GMV
04 Earnings Forecast and Progress Progress of the Medium-Term Management Plan: GMV In the previous fiscal year, the Company prioritized optimizing the structuring process under the FTK3&4 schemes, resulting in GMV of ¥31.3 billion (78% of the target).For the current fiscal year, although the GMV tar
Slide 43: Table of Contents
Table of Contents 01 Executive Summary 02 Company and Business Overview 03 Q1 Financial Results by Segment and Highlights 04 Earnings Forecast and Progress 05 Appendix © CREAL Inc. All Rights Reserved. 43
Slide 44: Supplementary Business Information
Supplementary Business Information © CREAL Inc. © CREAL Inc.All AllRights Rights Reserved. Reserved. 44
Slide 45: Multi-product
05 Appendix Our Aspirational Future — Product Portfolio and Customer Reach in Five Years We plan to launch new asset management products backed by real estate, such as security tokens (ST) and digital bonds. In addition, we are developing funds that target a wide range of alternative assets beyond r
Slide 46: 【CREAL】Obtaining Approval for FTK3 & 4 (2025/06/26)
05 Appendix 【CREAL】Obtaining Approval for FTK3 & 4(2025/06/26) After preparations, we obtained approvals under the Act on Specified Joint Real Estate Ventures (including electronic trading) and launched FTK3&4 SPC funds, enhancing investor safety and profitability while entering a stable and acceler
Slide 47: 【CREAL】Trend in KPIs ③
05 Appendix 【CREAL】Trend in KPIs ③ Gross profit is driven by GMV and take rate. Under the FTK 1&2 schemes, funds raised through CREAL are generally sold within about a year, with gains recognized in the P/L. In the FTK3&4 schemes, revenue recognition for acquisition and management fees occurs earlie
Slide 48: 【CREAL ST】 Initiatives in the Security Token (ST) Business
05 Appendix ②【CREAL ST】 Initiatives in the Security Token (ST) Business （仮称） Following the January 2025 securities company acquisition, we began entering the growing ST business. After system development and registration, service launch is targeted for 1H FY2027, alongside preparation of acquiring a
Slide 49: Pursuing Business Synergies as an Asset Management Platform
05 Appendix Pursuing Business Synergies as an Asset Management Platform We aim to become “best-in-class” asset management platform by offering a wide range of products starting from our core base of entry-level and experienced investors, and by expanding into alternative investments beyond real esta
Slide 50: DX/AI-Related Products Under Development and Operation (1)
05 Appendix DX/AI-Related Products Under Development and Operation (1) Internalized development capabilities to continuously pursue greater efficiency and productivity across all businesses through the utilization of DX and AI. （tentative） Targeting Launch Development of Pilot Operation AI Utilizati
Slide 51: DX/AI-Related Products Under Development and Operation (2)
05 Appendix DX/AI-Related Products Under Development and Operation (2) By internalizing development capabilities, the Company continuously pursues greater efficiency and productivity across all businesses through the utilization of DX and AI. Pilot Operation AI-Driven Revenue Under Automated Marketi
Slide 52: Approach to M&A and Strategic Capital Alliances
05 Appendix Approach to M&A and Strategic Capital Alliances M&A is essential for our nonlinear, dynamic growth. We have established a top- management-led M&A team to actively pursue opportunities. Real Estate Related Companies PropTech / FinTech Expand business scale and diversify Integrate DX into
Slide 53: Positioning of Shareholder Return Measures for Enhancing Corporate Value
05 Appendix Positioning of Shareholder Return Measures for Enhancing Corporate Value We aim to enhance corporate value through four key pillars, focusing on growth investments and balanced measures including shareholder returns. 1. Business Growth 2. Shareholder Returns ⚫ Initiating stable and conti
Slide 54: Target Financial Indicators in the Medium-Term Management Plan
05 Appendix Target Financial Indicators in the Medium-Term Management Plan Due to fund operations being principally off-balance under FTK3&4 scheme, the equity ratio is expected to gradually improve. While financial soundness will be enhanced, management will prioritize investment and capital effici
Slide 55: Transparency
05 Appendix Strengthening the Activities of the Real Estate Crowdfunding Association In December 2024, the Japan Real Estate Crowdfunding Association, chaired by President and Representative Director Yokota, integrated with other organizations to become the industry’s sole trade association. The Ass
Slide 56: Quarterly Trends in Revenue and Gross Profit by Business Segment
05 Appendix Quarterly Trends in Revenue and Gross Profit by Business Segment FY2025 FY2026 FY2027 (million yen) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q Revenue 13,827 7,845 4,968 15,182 10,069 6,724 12,790 8,210 7,376 CREAL 2,406 5,143 1,999 11,837 7,723 3,746 9,877 2,036 3,031 PRO 9,577 434 988 689 102 241 407
Slide 57: FAQ
FAQ © CREAL Inc. © CREAL Inc.All AllRights Rights Reserved. Reserved. 57
Slide 58: FAQ
05 Appendix FAQ This section presents questions and answers anticipated from investors Q. Finance How will rising rates affect the real estate market and our results? A. Rising interest rates generally increase costs for real estate buyers, which can be a negative impact both when acquiring and sell
Slide 59: FAQ
05 Appendix FAQ This section presents questions and answers anticipated from investors Quarterly Q. Results Could results be skewed on a quarterly basis? A. Our business has almost no seasonality by nature, but the size of properties we acquire or sell, and variability in settlement timing, mean res
Slide 60: FAQ
05 Appendix FAQ This section presents questions and answers anticipated from investors Q. Hotels Will China's travel advisory affect hotel revenue? A. Chinese guests make up a limited share of our hotels' customers, so we have seen no impact on bookings or occupancy, though we are monitoring room-ra
Slide 61: Disclaimer
Disclaimer ■ This presentation contains forward-looking statements that are based on information available as of the date of this material. These statements do not guarantee future results or performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause act