APAMAN

What APAMAN does

APAMAN Co., Ltd. is a Japanese real estate services company headquartered in Tokyo that operates the Apaman Shop franchise network, the largest rental property brokerage franchise in Japan with more than 1,000 stores nationwide. The company was founded in October 1998 by Koji Omura with the goal of improving quality and digitalizing Japan's rental brokerage and property management industries, and was publicly traded on the Tokyo Stock Exchange from 2001 until withdrawing from listing in October 2024. Following a major organizational restructuring in October 2025, the prior operating entity was reorganized under a new holding company (EL CAMINO REAL Co., Ltd.) and reconstituted APAMAN Co., Ltd. was formed from former subsidiaries Apaman Property, Apaman Network, and Mi LIFE.

APAMAN generates revenue across five streams: franchise fees and royalties from franchisees, rental brokerage commissions from landlord-tenant matches, recurring property management fees, corporate housing services for enterprise clients, and sublease services through its Apaman Shop Sublease subsidiary. It serves four customer segments: individual renters (the primary segment), corporate housing managers, real estate owners and property investors, and franchisees. The company also maintains international operations in 6 countries and 11 cities, primarily through wholly-owned subsidiaries in the United States (Apaman U.S.A., Corp. and APAMAN U.S.A. HOLDINGS) and Thailand (APAMANSHOP Thailand).

The technology platform is built around two proprietary backbone systems (AOS for store operations and APS for property management) augmented with AI features including AI Virtual Tour, AI Agent for automated interviews and customer service, computer-vision-based garbage disposal monitoring, a Rent Valuation System using big data, LINE-messenger-integrated property search, and the ARUARU Wallet consumer app. IoT integration is delivered through the Sharing Key connected smart lock system. The company employs 1,001–5,000 people and is led by President and CEO Kai Yamasaki, with Takashi Kawamori serving as Vice Chairman and Kei Tajima as Representative Director. Recent financial trajectory has been declining, with revenue contracting from 2019 through 2023, while management has pursued active repositioning through new product launches (ARUARU Wallet, Jūren mobile battery rental) and strategic partnerships (Syla for Tokyo housing supply, Itand for franchise tech enablement).

Name

APAMAN

Legal name

APAMAN株式会社

Website

https://apamanshop-hd.co.jp

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

APAMAN operates Japan's largest rental property brokerage franchise network (Apaman Shop) with 1,000+ stores, serving individual renters, franchisees, corporate housing clients, and property owners through rental brokerage, property management, corporate housing, and AI-enabled real estate technology platforms.

Ownership category

akta.pro rank

Product category

Real Estate Brokerage and Property Management

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131), Real Estate and Rental and Leasing (53)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Apartment Buildings (6513)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industries

Multi-Family & Property Management Access Solutions (Common Area & Unit Access) (HSAHAEAE), Physical Security, Access Control & Visitor Management (HSAPAPAD)

Keywords

• Rental property brokerage
• Property management services
• Corporate housing solutions
• Real estate franchising
• Sublease services

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Franchise Fees and Royalties: APAMAN operates a franchise business model (Apaman Shop FC), collecting franchise fees and ongoing royalties from加盟企業 (franchisee companies). The company provides the unified brand, operational systems (AOS, APS), and support services in exchange for franchise fees.
2. Rental Brokerage Commissions: Revenue from rental property brokerage services through the Apaman Shop network, facilitating property matches between landlords and tenants across Japan.
3. Property Management Fees: Revenue from managing rental properties for landlords, including tenant management, maintenance, rent collection, and guarantee services.
4. Corporate Housing Services: Services provided to companies for employee housing needs, including brokerage partnerships and corporate housing system consultations.
5. Sublease Services: Sublease arrangements through Apaman Shop Sublease subsidiary, managing rental property business risks including vacancy management.

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

APAMAN operates one of Japan's largest real estate service platforms centered on the Apaman Shop franchise network (over 1,000 stores). The company provides rental property brokerage matching tenants with landlords, full-service property management for property owners including rent collection and 24/7 emergency support, corporate housing solutions for businesses, and sublease services. It complements these traditional real estate services with proprietary technology platforms including the AOS store backbone system, APS property management system, AI-powered tools (virtual tours, AI interview agent, rent valuation analytics), and IoT-enabled Sharing Key smart locks.

Product overview

APAMAN offers a comprehensive real estate services platform consisting of three core business segments: (1) Rental Brokerage through the Apaman Shop franchise network—one of Japan's largest with nationwide coverage; (2) Property Management Services including 24/7 emergency response, guarantor services, and home contents insurance; and (3) Technology Solutions comprising AOS (store backbone system), APS (property management system), and AI-powered features including AI Virtual Tour, AI Agent, and Electronic Signature. The company also operates supporting products including the ARUARU Wallet resident app, Sharing Key smart locks, and AR Cloud services. The platform is built around a franchise model serving both individual property seekers and corporate housing clients.

Differentiator

Problem solved

Functional benefit

Brands

• AOS (Apaman Operation System): Store backbone system for real estate operations
• APS (Apamanshop Property management System)
• ARUARU Wallet
• あるあるCity (Aruaru City)
• シェアリングキー (Sharing Key)
• シェアリングキー (Sharing Key)

Products and services

• Apaman Shop Rental Brokerage Franchise Network
• Property Management Services
• Corporate Housing Services
• Franchise (FC) Business
• ARUARU Wallet
• 充レン (Jūren) Mobile Battery Rental
• Sublease Services

Quantifiable outcome

• YouTube CM campaigns reaching 100 million views within 3 months
• +1 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability8 records

Feature10 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Itand (イタンジ)coreTechnology or Integration · 25 May 2026APAMAN formed a business partnership with Itand to provide 'ITANDI Rental Brokerage' services to Apaman Shop franchisees at specially negotiated pricing. This integration brings Itand's real estate technology solutions to the franchise network, enhancing digital capabilities for rental brokerage operations.
• Syla Co., Ltd.coreStrategic or Co-development Partner · 2 April 2026APAMAN and Syla have entered a strategic partnership to address the severe rental housing shortage in the Tokyo metropolitan area. The partnership focuses on pre-sales of new condominiums and aims to ensure stable housing supply in the region. Syla is involved in real estate development and related activities in the Tokyo area.
• TKPminorStrategic or Co-development Partner · 12 February 2026TKP has partnered with APAMAN to attract the 'AruAru City Oita Branch' (あるあるCity おおいた分校), a pop culture specialized facility, to Oita Station. The facility is scheduled to open in April 2026 and will serve anime and card game fans in the region.

Scale indicators3 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Leopalace21 Corporation: Japan's largest dedicated rental property management and sublease company, operating a nationwide franchise and direct-leasing model very similar to APAMAN's Apaman Shop. Closest direct competitor in Japanese rental property management with overlapping customer base and franchise distribution.
• Ken Corporation Ltd. Tokyo-focused premium rental property brokerage and management firm. Direct competitor in urban Japanese rental brokerage with similar AI/digital adoption goals and corporate housing service offerings overlapping with APAMAN.
• Daiwa Living Co., Ltd. Major Japanese rental property management subsidiary of Daiwa House Group, providing nationwide residential and corporate housing management services. Direct peer in managed rental portfolios and corporate housing systems.
• Tokyu Housing Lease Co., Ltd. Residential rental property management and sublease arm of Tokyu Fudosan Group, focused on metropolitan Tokyo. Directly comparable business model in property management and brokerage for individual renters and corporate clients.
• Starts Corporation, Inc. Japanese real estate franchise and brokerage operator with a network model similar to Apaman Shop, serving residential real estate needs nationwide. Comparable in franchise structure, technology adoption, and target renter demographic.

Broad incumbents

• Sumitomo Realty & Development Co., Ltd. Large Japanese real estate conglomerate covering development, brokerage, and property management. Overlaps with APAMAN in rental brokerage and property management but operates as a much broader diversified real estate enterprise.
• Haseko Corporation: Major Japanese housing/real estate developer with significant property management and rental services. Larger, more diversified player but competes in the same Japanese residential rental management space.
• LIXIL Corporation: Global Japanese housing products manufacturer including smart locks and building access solutions. Relevant peer for APAMAN's Sharing Key smart lock product line and broader housing technology adjacency.

Emerging players

• ITANDI Co., Ltd. Japanese PropTech company offering rental brokerage software (ITANDI Rental Brokerage) that is being integrated into APAMAN's franchise network via partnership. Comparable in PropTech focus and renter-facing tools, with partial overlap in target customers.
• ASSURE LOCK / igloohome: Smart lock and access management company serving short-term rental, multi-family, and property management operators across Asia. Comparable to APAMAN's Sharing Key product in functionality, target market (multi-family access), and IoT-based property access use cases.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/apamanshop
• YouTubeyoutube.com/@apamanshop
• Instagraminstagram.com/apamanshop_official
• LinkedInlinkedin.com/company/apamanshop

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about APAMAN