Hulic Co., Ltd. TSE:3003
Hulic : Investors Guide for FY2025 (January 1, 2025 - December 31, 2025)
Source: MarketScreener
Investors Guide
2025
Table of Contents
Corporate Profile P.2-4
Medium- and Long-term Management Plan (2026-2036) P.5-8
Profit and dividend increase for
17 consecutive years
BBB-
A-
New Management Plan 2026-36
Plan achieving 3 years
ahead of schedule
Achieved 4 years ahead of schedule
Achieved 4 years ahead of schedule
2029
2025 2026
(forecast)
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Management Plan 2020-29
Management Plan 2009-18 Management Plan 2014-23
AA-
A+
A
ConsolidatedOrdinary Profit (Unit: JPY bn)
External rating up by 3 notches
16-fold increase in ordinary profit
Initial forecast Results (difference over initial forecast) Plan/targets
2007
Changed corporate
name to Hulic Co., Ltd.
1957
Established Nihonbashi Kogyo Co., Ltd.
Started property management for the former Fuji Bank (now Mizuho Bank) branch buildings and insurance agency business
10.9 10.9 12.3
16.8 20.0 25.9
34.3 42.5
51.4
61.8
72.5
83.8
2015
Merged with Simplex Investment Advisors Inc. (a real estate company)
2010
Merged with Senshu Shoji Co., Ltd. and Fuyo General Development and Finance Co., Ltd. (real estate leasing companies)
95.6
2012
Merged with Shoei Co., Ltd. (a real
estate company)
109.5
2019
Made Nippon View Hotel CO., LTD., a subsidiary
123.2
154.3
137.4
2008
Listed shares on the First Section of the Tokyo Stock Exchange
172.9
2025
Made Koken Boring Machine Co., Ltd. and Cook Deli, Inc., a subsidiary
2024
Made Riso Kyoiku Co., Ltd. and Raysum Co., Ltd., a subsidiary
185.0
220.01957 2006 2007 2008
External Rating (JCR)
Management Plan
2036
2
Corporate Profile
Corporate History of Growth and Achievements
Achieving top-notch profit growth and ROE in the industry through “balanced management”, becoming a leading company in Japan
Ordinary Profit Growth
ROE
Equity Ratio
ROA
Average of past 10 years
14.4%
Average of past 10 years
12.5%
Average of past 10 years
32.7%
Average of past 10 years
5.2%
Average of other industry players
6.3%
Average of other industry players
8.2%
Average of other industry players
30.7%
Average of other industry players
3.5%
Indicators of a leading company in Japan
Hulic’s status
Only 29 out of 1,604 TSE Prime Market
companies met these criteria
(as of the end of Dec. 2025)
Profitability | Ordinary profit | JPY100 bn or more |
B/S Soundness | External credit rating | AA level |
Market Valuation | Market cap | JPY1 trn or more |
PBR | 1 time or higher | |
Capital Efficiency | ROE | 10% or higher |
SDGs | Nikkei SDGs Management Survey | 4 stars or higher |
JPY172.9 bn
AA- (Stable)
JPY1 trn 316 bn
1.4 times
13.0%
4.5 stars
Other industry players: the top three companies in the real estate sector. Equity ratio: equity credits of hybrid finance issued by companies were calculated as nominal equity
3
Corporate Profile
Track Record
Consolidated Business Overview
Business Segment | FY2025 Operating Profit (Million yen) | Major businesses | |
１ | Real Estate | 198,111 | Leasing, development and asset management, etc. |
２ | Insurance Agency | 1,090 | Insurance agency |
３ | Hotels / Ryokans | 1,670 | Hotels / Ryokans operation |
４ | Others | 2,137 | Child education business, general construction, design and construction management, etc. |
Adjustment | -16,184 | ||
Operating Profit | 186,826 | ||
Areas Hulic Works on
Data centers Hotels / Ryokans
Reconstruction / Medium-scale development
Medium-sized
offices
Offices in Tokyo prime locations
Non-core Fields
Condominium sales
Large-scale development
Large “S-class”
offices
Offices in regional areas
Sources of Rent Revenue (Dec. 2025 monthly)
A Small Group of Professionals
(As of the end of 2025)
Non-consolidated basis: 234 employees
Consolidated basis: 3,495 employees
Ordinary profitper employee: JPY660 mil
(non-consolidated)
Operating Hotels / Ryokans
(As of the end of 2025)
7 THE GATE HOTEL (1,062 rooms)
Real Estate Leasing Portfolio
(Excl. Real estate for sale. As of the end of 2025)
# of Properties: 250
Net Leasable Area: approx. 1,316,000㎡
Office Vacancy Ratio: 0.4％ (for all Hulic)
Average rent: 26,111 yen (for Tokyo 5 wards)
Others 5%
Data centers 6%
Retail commercial 24%
Hotel,
Ryokan
Office 44%
Office 46％
Office
12 FUFU [luxury Japanese-inn] (302 rooms)
8 View Hotels and others (2,577 rooms)
AUM of the Group REITs and funds :
approx. JPY 870 bn
Others:
R&D facilities, logistics,
Kodomo Depart, etc.
13%
Senior living 5%
(Mizuho) 2%
Rental apartments 1%
4
Corporate Profile
Business Overview
A corporate group that continues its Transformation, Evolution and Growth
by creating diverse value based on the real estate business as the core
Target Profile in 2036
Build a distinctive and resilient business portfolio by incorporating diversified growth businesses centered on the real estate in order to pursue and achieve stable and
sustained growth and shareholder value enhancement
Basic Policy
Evolve the business model by leveraging M&As in growth fields to realize profit growth
and enhance corporate value through transforming the real estate business into
1
2
a multi-business growth platform that drives conglomerate premiums
Basic Strategy
Drive further innovation and improve efficiency in the real estate business
Develop diversified earning strategies and build a resilient business portfolio
3
Maintain/enhance financial discipline and strengthen the capital policy
Evolve the sustainability management,
4 where value creation for society aligns
with corporate growth
5
Medium- and Long-term Management Plan (2026-2036)
Target Profile / Basic Policy / Basic Strategy