[Company analysis] Tokyu Fudosan Holdings (東急不動産ホールディングス)

「Tokyu Fudosan Holdings(東急不動産ホールディングス)」is the core company of the「Tokyu Group」along with「Tokyu Corporation(東京急行電鉄)」and this company owns「Tokyu Land Corporation(東急不動産)」,「Tokyu Community Corporation(東急コミュニティー)」,「Tokyu Livable, Inc.(東急リバブル)」,「Tokyu Hands Inc.(東急ハンズ)」. It is 4th largest in the real estate industry in Japan. The number of consolidated employees is approximately 18,243.

 

1. Company Profile

2. Summary and Features

3. Major Business

4. Financial Information

 

 

 

1. Company Profile

 

※Unit is JPY million, as of 2019

Company name	Tokyu Fudosan Holdings
Company name (Japanese)	東急不動産ホールディングス
Date of establishment	Tuesday, October 1, 2013
Headquarters location	〒107-0062 東京都港区南青山2-6-21
Capital	60,000
Consolidated sales	901,884
Consolidated operating profit	80,205
Consolidated total assets	2,405,249
Consolidated capital	568,698
Capital adequacy ratio	23.6%
Consolidated number of employees	18,243

 

 

 

2. Summary and Features

 
Before the transformation to the current holding company structure,「Tokyu Land Corporation」owns directly 「Tokyu Community」and「Tokyu Livable」under its umbrella. However, both companies became listed on the first section of the Tokyo Stock Exchange, and the ownership ratio of「Tokyu Land Corporation」to these companies fell to around 50%. In order to prevent potential risks, they decided to switch to a holding company structure and「Tokyu Fudosan Holdings」was established.

「Tokyu Land Corporation」, a core subsidiary of「Tokyu Fudosan Holdings」, is a real estate company representing the Tokyu Group and a comprehensive real estate company. It is No. 4 in the comprehensive real estate industry and owns more than 100 office buildings in Tokyo other than Shibuya. As a railway-based real estate company, they have an outstanding scale, and they are developing various businesses centered on housing, offices, and commercial facility development.

 

One of its subsidiaries,「Tokyu Community」, was established in 1970 as the main asset management company of the「Tokyu Group」. They mainly manages condominium management and also manages buildings and assets. At the time of its foundation, this company was in charge of managing condominiums and buildings developed by 「Tokyu Land」and「Tokyu Corporation」. but recently the number of jobs outside the Tokyu Group is increasing. Besides, through the PFI business and the designated manager system, they are enhancing public facility management business also.

For「Tokyu Livable」, they mainly engage in new construction outsourcing business and real estate brokerage business from each company in the「Tokyu Fudosan Holdings」, and also carry out real estate solution business and condominium planning and sales under their own brand.

In 2014,「Tokyu Hands」was incorporated into the「Tokyu Group」.「Tokyu Hands」is a company that develops interior retail chains mainly in large cities. They mainly deal in housing and lifestyle related products and are located in the central area of ​​Tokyo. There are a small number of home improvement stores in the suburbs. It was founded in 1976, and has shown a high level of customer attraction throughout the Tokyo metropolitan area.

 

 

3. Major Business

 

■ Urban business

■ Housing business

■ Management business

■ Brokerage business

■ Docu Wellness

■ Docu Hands

■ Next Generation / Related Business

 

 

 

4. Financial information

 

※Unit is JPY million

		2016	2017	2018
Consolidated sales		808,503	866,126	901,884
Consolidated operating profit		73,227	77,519	80,205
Consolidated total assets		2,067,152	2,176,761	2,405,249
Consolidated net assets		446,307	475,345	568,698
Breakdown of sales	Urban business	249,021	269,777	256,427
	Housing business	108,548	123,538	121,419
	Management business	148,634	160,948	173,904
	Brokerage bsiness	82,069	99,349	118,862
	Docu Wellness	94,416	97,019	123,904
	Docu Hands	97,167	97,114	97,392
	New generation・Related business	49,593	41,689	41,580
	Adjustments	-20,947	-23,311	-31,607