Trust Five

What Trust Five does

Trust Five is a Tokyo-based private real estate developer founded on February 18, 1997, specializing in small-scale commercial building development on narrow urban land plots starting from 30 tsubo (approximately 99 m²). The company operates exclusively within the Tokyo metropolitan area, with a primary focus on the broader Shibuya area, the Chuo Line corridor, and the Yamanote Line between Shinjuku and Ikebukuro. Its core product is the CORETAS (コレタス) brand, a series of "one-of-a-kind" small commercial buildings designed to integrate with their specific neighborhood context, and the Father Land brand for income-producing real estate projects. As of FY September 2025, the company generated approximately 1.813 billion JPY in revenue with a team of 15 employees including officers.

The company's business model centers on acquiring narrow urban land lots that major developers cannot or will not develop, then managing the full development lifecycle in-house, including planning, design coordination, construction management, leasing, and sales. Completed buildings are sold directly to investment companies and individual investors seeking long-term rental income, and commercial spaces in self-managed buildings are leased directly to small business tenants under "value-based pricing" rather than market-rate rent. The company also operates a secondary residential business through the Relia (レリア) and Relia Mode brands, with over 40 buildings and 1,130+ units delivered since 2001, primarily for owner-occupiers. A content platform called casamia (カーサミア) serves as owned media for brand-building and customer education.

The company holds a real estate brokerage license from the Tokyo Metropolitan Government and maintains relationships with a broad set of Japanese financial institutions, including Mizuho, Sumitomo Mitsui, Mitsubishi UFJ, and Shoko Chukin, for development financing. In October 2025, the company underwent a leadership transition, with Minamisono Ryuji succeeding Minamisono Koichi as representative director. Trust Five's CORETAS Kichijoji II project received the 2024 Good Design Award, validating its design quality and community-integration philosophy.

Name

Trust Five

Legal name

株式会社トラスト・ファイブ

Website

https://trust5.co.jp

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1–10 employees

Short description

Trust Five is a Tokyo-based private real estate developer founded in 1997 that specializes in small-scale commercial building development on narrow urban land plots starting from 30 tsubo, serving investors, small business tenants, and individual landowners in the Tokyo metropolitan area.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Commercial and Institutional Building Construction (23622), Residential Building Construction (23611), Nonresidential Building Construction (2362), Services to Buildings and Dwellings (5617)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540), Land Subdividers & Developers (No Cemeteries) (6552), Operators Of Nonresidential Buildings (6512), Real Estate Dealers (For Their Own Account) (6532)

akta.pro industry

PRIMARYIMAFACAB

Retail & Mixed-Use Commercial Construction

Industrials, Manufacturing & Construction/Construction & Civil Engineering/Commercial & Institutional Building Construction

SECONDARYIMAFABAB

Multi-Family Residential Construction (Apartments, Condos, Townhomes)

Industrials, Manufacturing & Construction/Construction & Civil Engineering/Residential Building Construction

SECONDARYBPAIANAE

Community Development & Neighborhood Revitalization (CDBG, Place-Based Initiatives)

Business & Public Services/Public Sector & Government Administration/Housing, Urban Planning & Community Development

SECONDARYBPAJADAJ

Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Land & Rural Real Estate Brokerage

Keywords

• Small-scale commercial development
• Narrow-lot urban development
• Income-producing real estate
• Tokyo property development
• Commercial building development

Headquarters

HQ city

Tokio

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Commercial Building Development and Sales: Core revenue stream. Develops small-scale commercial buildings (30-50 tsubo) on narrow lots in Tokyo, handling land acquisition, planning, design, construction, leasing, and sales. Properties are sold to investment companies and individual investors for long-term income generation rather than short-term capital gains. Also manages leasing of developed properties directly.
2. Residential Development and Sales: Former primary business now secondary. Since 2001, has developed and sold the Relia (レリア) and Relia Mode (レリアモード) branded residential series in the Tokyo area, with a focus on owner-occupied housing rather than investment units. Total of 80+ towers and 3,200+ units delivered historically.
3. Rental Income from Self-Managed Properties: Leases commercial spaces in self-developed buildings directly to tenants, acting as landlord. Properties are designed with 'value-based pricing' rather than market-rate rent setting.
4. Media/Content Business: Operates the Casamia (カーサミア) blog media platform covering real estate, buildings, disaster prevention, and urban topics. Generates content marketing value and brand awareness.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Trust Five plans and develops small-scale commercial buildings (30-50 tsubo) on narrow urban lots in the Tokyo metropolitan area, managing the full lifecycle from land acquisition, planning, and design coordination through construction management, leasing, and sale to investors. The company also develops owner-occupied residential units under the Relia and Relia Mode brands, and operates the Casamia owned media platform covering real estate, buildings, disaster prevention, and urban topics.

Product overview

Trust Five is a real estate developer specializing in small-scale commercial building development on narrow land plots (from 30 tsubo) in Tokyo. Its product portfolio consists of three main pillars: (1) commercial building development — the CORETAS (コレタス) series brand and the Father Land (ファザーランド) project brand for income-generating properties; (2) residential development — the Relia (レリア) and Relia Mode (レリアモード) branded self-developed housing series with over 40 buildings and 1,130+ units delivered since 2001; and (3) a content/media platform — the casamia (カーサミア) owned media site covering real estate and land topics. The company operates across the full development lifecycle from land acquisition and planning through design, construction, leasing, and sale, with a focus on creating one-of-a-kind properties that reflect the context of each individual site.

Differentiator

Problem solved

Functional benefit

Brands

• コレタス（CORETAS）: スモールビルブランド。30坪～の狭小地における小規模商業ビル開発ブランド。
• ファザーランド
• レリア（Relia）
• レリアモード（Relia Mode）

Products and services

• CORETAS (コレタス) Series Small-scale commercial building (small building / スモールビル) brand. Develops 30 tsubo and above commercial buildings in Tokyo (broad Shibuya area, Chuo Line corridor, Yamanote Line between Shinjuku and Ikebukuro). Each building is designed as a unique 'one-of-a-kind' (一点物) project tailored to the specific site's context, neighborhood character, and community needs. Sold to investment companies and individual investors for long-term income generation, and leased directly to small business tenants.
• Fatherland (ファザーランド) Income-producing real estate project brand. Used within the company's small-scale building development business for development and provision of investment-grade properties.

Quantifiable outcome

• Won 2024 Good Design Award for 'CORETAS Kichijoji II' — validating the design quality and community integration of the development approach
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• ALCO Design Studio (株式会社アルコデザインスタジオ一級建築士事務所)coreStrategic or Co-development PartnerPrimary design partner for CORETAS buildings. Collaborated on multiple CORETAS projects including CORETAS Kyodo (design: ALCO Design Studio). The design firm shares the company's philosophy of context-driven, one-of-a-kind building design and has co-created the distinctive design language of the CORETAS brand.
• Yushin Construction (友伸建設株式会社)coreImplementation/ SI/ Consulting PartnerConstruction contractor partner. Has worked on CORETAS projects including the CORETAS Kyodo development (施工: 友伸建設株式会社). Long-term working relationship built on shared values around quality and context-sensitive construction.
• Daikyo (株式会社大京)minorStrategic or Co-development PartnerCo-developed the Lions Machiya Relia City residential project (joint venture / 共同事業). Daikyo is a major residential developer (parent of the Lions brand). This was a one-time joint venture for a specific residential project, not an ongoing partnership.
• Architectural Design Firms and General Contractors (設計事務所・ゼネコン)coreImplementation/ SI/ Consulting PartnerTrust Five works with select design firms and general contractors whose values align with the company's development philosophy. These are long-term, trust-based partnerships (価値共創型のプロジェクト体制) rather than transactional contractor relationships. The selection of partners is based on shared commitment to context-driven, quality-oriented development.
• Loftwork Inc. (株式会社ロフトワーク)minorStrategic or Co-development PartnerConducted corporate branding project to support the leadership succession from Minamisono Koichi to Minamisono Ryuji in 2025. Loftwork documented and publicized the brand transformation as case studies on their platform.

Scale indicators10 records

Expansion highlights3 records

Direct peers

• Sanei Architecture Design (三栄建築設計株式会社): A Japanese residential developer with similar small-team, custom-design philosophy, focusing on detached and low-rise residential units in the Tokyo area. Comparable segment overlap with Trust Five's Relia residential series.
• JINUSHI Co., Ltd. (地主株式会社): JINUSHI similarly focuses on helping landowners (particularly holders of inherited or underutilized property) maximize the value of their land. Its property-owner-oriented business model and target customer overlap closely with Trust Five's land acquisition approach, though JINUSHI focuses more on consultation/sale than development.
• Tosei Corporation (東誠株式会社): Tosei is a mid-sized Tokyo-based real estate developer engaged in property acquisition, redevelopment, rental, and sales. Similar size and Tokyo focus, with comparable exposure to small-and-mid-size property development and income-property strategy.

Broad incumbents

• Open House Group (株式会社オープンハウスグループ): Large Japanese residential and income-property developer with significant Tokyo operations and a strategy that includes smaller-unit residential and investment properties. Much larger scale than Trust Five, but overlaps in the owner-occupied residential and small-investor property segments.
• Daiwa House Industry Co., Ltd. (大和ハウス工業株式会社): Largest Japanese homebuilder and major commercial/retail developer. Represents the established, large-scale end of the commercial development spectrum against which Trust Five's small-lot specialization must compete for talent, financing, and design talent.
• INFRONEER Holdings Inc. (インフラジスティック・ホールディングス / INFRONEER Holdings): Japanese construction and real estate conglomerate with significant development and property rental operations. Broad overlap with Trust Five's development and rental activities, though at vastly different scale and project sizes.
• Pressance Corporation (プレサンスコーポレーション): Japanese condominium developer with a focus on urban mid-rise residential buildings, including in Tokyo metro areas. Overlaps with Trust Five's residential development activities, though at substantially larger scale and standardized product.
• Daikyo Incorporated (株式会社大京): Established Japanese condominium developer (Lions brand) and joint-venture partner with Trust Five on the Lions Machiya Relia City project. Operates at significantly larger scale but shares the Tokyo residential development market.

Others

• Advance Residence Investment Corporation (アドバンス・レジデンス投資法人): J-REIT focused on residential properties, including Tokyo assets. Represents an institutional capital pool that could be a buyer of stabilized income properties from developers like Trust Five, providing an indirect channel for understanding comparable property economics.

Emerging players

• Robot Home, Inc. (株式会社ロボットホーム): Japanese real estate tech and small-property management company focused on condominium and rental property operations. Touches on Trust Five's landlord-tenant direct leasing model for smaller commercial spaces.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Trust Five