Shoei

What Shoei does

Shoei (株式会社翔栄, SHOEI Co., Ltd.) is a Japanese real estate investment and development company founded in 1995 in Nagoya by Tetsuzo Kimura and listed on the Tokyo Stock Exchange TOKYO PRO Market since October 2017 under ticker tyo:3483. The firm runs a vertically integrated real estate model spanning three pillars: Real Estate Investment Development (acquisition, planning, development, and sale of residential and commercial buildings), Real Estate Rental Business (40 owned properties — 30 residential apartment buildings and 10 office buildings — generating rental income with active portfolio rebalancing), and Real Estate Brokerage and Consulting (intermediation and advisory services for property acquisition, disposition, and asset-value enhancement). Its on-the-shelf products include branded residential and commercial series (FACE, The Residence, CONTEL, Guardian, Frame), with a differentiator being pet-friendly buildings featuring rooftop dog runs.

Shoei sells income-producing properties primarily to individual and institutional real estate investors across Japan's three largest metropolitan regions — Tokyo, Nagoya, and Osaka — supplemented by a Honolulu, Hawaii branch supporting global real estate and financial business objectives. The go-to-market mixes direct sales (proprietary listings on shoeigroup.co.jp, dedicated contact forms, and a sales team), agent and brokerage partnerships (with major Japanese brokerages such as Tokyu Livable, Mitsui Fudosan Realty, Nomura Real Estate Urban Net, and Taisei Yuraku Real Estate acting as referral and counterparty channels), and institutional financing relationships with Bank of Tokyo-Mitsubishi UFJ, Mizuho, Sumitomo Mitsui Banking Corporation, and Resona Bank. Pricing is per-asset — property-by-property rather than subscription-tier — with publicly listed Tokyo and Nagoya properties ranging from roughly ¥186 million to ¥4 billion. Marketing is concentrated in the corporate website, Nikkei newspaper display advertising, a YouTube channel, and IR disclosures on the Tokyo Stock Exchange PRO Market.

Operationally, the company is asset-heavy but personnel-light, with 1-10 employees and ¥50 million registered capital, generating revenue through lumpy development-sale gains, recurring rental income, and brokerage/consulting fees. Recent strategic posture emphasizes orderly geographic and portfolio expansion — opening Osaka in May 2022, establishing a Honolulu branch, launching a VR-based Virtual Viewing service in December 2022, and publicly targeting growth to 100 owned buildings by fiscal year 2028 — while financing the build-out through bank borrowings announced in IR disclosures through 2026.

Name

Shoei

Legal name

株式会社翔栄

Website

https://shoeigroup.co.jp

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

1–10 employees

Short description

Shoei (株式会社翔栄) is a Japanese real estate investment and development company that acquires, develops, and manages income-producing residential and office buildings in Tokyo, Nagoya, and Osaka, serving individual and institutional real estate investors through direct sales, brokerage partnerships, and bank-financed portfolio expansion since its 1995 founding.

Ownership category

akta.pro rank

Headquarters

HQ city

Nagoya

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Marketing or Sales, Personnel

Revenue model

1. Real Estate Rental Income: Shoei Group companies hold rental real estate assets (residential and commercial buildings) generating stable, recession-resistant rental income. The portfolio is actively managed through asset replacement — acquiring new properties and divesting existing ones.
2. Real Estate Development & Sales: The company acquires land, develops residential and commercial buildings, and sells completed properties to investors. This includes both developed-for-sale properties and the disposition of held-for-investment assets.
3. Brokerage & Consulting Fees: The company earns fees from real estate brokerage and consulting services including property acquisition mediation, asset sales, and investment consulting for corporate and individual clients.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Shoei is a real estate investment and development company that acquires, develops, and manages residential and commercial properties in Japan's major metropolitan areas (Tokyo, Nagoya, Osaka). The company operates three core pillars: (1) Real Estate Investment Development for land acquisition, planning, and sales; (2) Real Estate Rental Business managing a portfolio of owned rental properties generating stable income; and (3) Real Estate Brokerage and Consulting services for property acquisition, valuation, and disposition.

Product overview

Shoei operates as a comprehensive real estate company with three core business pillars: Real Estate Investment Development (procurement, planning, and sales of commercial and residential properties), Real Estate Rental Business (asset management of owned properties generating stable rental income), and Real Estate Brokerage and Consulting (advisory and intermediary services). The company offers a portfolio of branded property products including FACE series (commercial/residential buildings), The Residence series (residential apartments), CONTEL series, and virtual viewing services for remote property inspection. Operations span Tokyo, Nagoya, and Osaka with approximately 40 owned properties under management.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Investment Development (不動産投資開発) Property acquisition, development, and sale services including building development for commercial and residential use, land preparation and subdivision sales, and real estate relations management. Targeted at real estate investors and institutional buyers.
• Real Estate Rental Business (不動産賃貸事業) Asset management through group companies holding rental properties for stable rental income. Includes property acquisition and sales for portfolio rebalancing across residential apartment buildings and office buildings.
• Real Estate Brokerage and Consulting (不動産仲介・コンサルティング)

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor.

• Uchiyama Town / Fuji Kawagawa Regional Revitalization Project (富士川町まち・ひと・しごと創生推進プロジェクト)minorStrategic or Co-development Partner · 22 January 2025Shoei endorses and sponsors the Uchiyama Town / Fuji Kawagawa Regional Revitalization Project through its partnership with Clean Fighters Yamanashi, supporting regional sports development.
• Blue Carbon Offset System (ブルーカーボンオフセット制度)minorOthers · 27 September 2022Shoei endorsed and sponsors the Blue Carbon Offset System, contributing to decarbonization initiatives.
• Clean Fighters Yamanashi (クリーンファイターズ山梨)minorStrategic or Co-development PartnerShoei sponsors Clean Fighters Yamanashi, a rugby team based in Yamanashi Prefecture, as part of its regional sports development and community support CSR activities.
• Azabu Crime Prevention Association (麻布防犯協会)minorOthersShoei joined the Azabu Crime Prevention Association in April 2024, contributing to local community safety initiatives.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Tokyo Tatemono: Tokyo-focused office and residential developer and investor. Comparable to Shoei on Tokyo-centric geographic focus and on the mix of owned commercial office properties (Shoi holds 10 office buildings).
• Daiwa House Industry: Japan's largest homebuilder with extensive residential rental and commercial property operations. Provides the broad-incumbent benchmark for nationwide property development and rental management scale.
• Mitsui Fudosan: Japan's largest diversified real estate developer, active in office, residential, retail, and brokerage. Mitsui Fudosan Realty is already a major brokerage client of Shoei; the parent is a benchmark for what scaled Japanese real estate looks like and the natural strategic acquirer profile.
• Tokyu Land Corporation: Diversified Japanese real estate developer with significant residential and urban development exposure. Tokyu Livable is a major brokerage client of Shoei; the parent offers a benchmark for residential development and rental management at scale.
• Nomura Real Estate Holdings: Major Japanese real estate developer with residential development, rental management, and brokerage arms. Nomura Real Estate Urban Net is already a major brokerage partner of Shoei, making the parent a natural peer for benchmarking scale and counterparty dynamics.

Emerging players

• GA Technologies: A Tokyo-listed proptech-enabled real estate company combining online property matching, brokerage, and renovation/development. Comparable to Shoei on its brokerage-and-investment model and on the use of technology (VR/digital channels) to reach investors, though GA is larger and more tech-led.
• TATERU Inc. A smaller, tech-forward Japanese residential investment property developer that similarly targets individual investors with income-producing apartments. Comparable in mid-cap size, residential rental focus, and use of digital tools (VR/viewing tech) for investor sales.

Direct peers

• Comforia Residential REIT: A Tokyo-listed residential REIT sponsored by Tokyu Land, holding rental residential assets primarily in Greater Tokyo. Comparable to Shoei on the rental-residential income stream and on Tokyo-centric geographic exposure.
• Advance Residence Investment Corporation: Japan's largest residential J-REIT, focused on rental residential properties in Tokyo and other major cities. Directly comparable to Shoei's owned residential rental pillar (30 of 40 properties are residential) and provides a public-market benchmark for residential rental yields in Japan.
• Tosei Corporation: Tosei is a Tokyo-listed integrated Japanese real estate company operating in property revitalization, development, rental, and brokerage — a near-mirror of Shoei's three-pillar model. Comparable in mid-cap scale, Tokyo-centric focus, and mix of owned assets plus transaction fee revenue.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubem.youtube.com/@%E6%A0%AA%E5%BC%8F%E4%BC%9A%E7%A4%BE%E7%BF%94%E6%A0%844481
• Instagraminstagram.com/shoei_co

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Shoei