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Lead Real Estate Co., Ltd (NASDAQ: LRE) is a prominent developer of luxury residential properties in Japan, primarily focusing on single-family homes and condominiums. The company operates mainly within the Tokyo and Kanagawa prefectures but extends its reach to Sapporo. Additionally, Lead Real Estate manages hotels in Tokyo and leases apartment units both in Japan and Dallas, Texas.
Core Business: The company's primary operations include the development, construction, and sale of high-end residential properties. Their portfolio is diverse, ranging from luxury single-family homes to upscale condominiums. Their operations are segmented into real estate sales, which is their main revenue driver.
Recent Achievements: In fiscal 2023, Lead Real Estate reported a net income of JPY536,482,000 or JPY43.39 per share, marking a 2% growth over the previous year. This financial performance was driven by an increase in total revenue, despite a 23% rise in construction costs and a slight increase in selling, general, and administrative expenses.
Current Projects: The company is actively involved in the development and construction of three new properties: ENT TERRACE ASAKUSABASHI, ENT TERRACE GINZA 3rd STREET, and ENT TERRACE ISEJINGU. These projects will add significant value to their portfolio, featuring state-of-the-art amenities such as gyms, kitchens, and workspaces. These additions are expected to generate substantial revenue in the coming year.
Financial Condition: As of June 30, 2023, the company held JPY786,373,000 in cash and cash equivalents, with long-term debt standing at JPY5,437,668,000. The company successfully closed its initial public offering on September 29, 2023, raising $8,001,000 in gross proceeds.
Partnerships and Expansions: Lead Real Estate has announced its participation in the EF Hutton Annual Global Conference, showcasing its commitment to expanding its market presence and investor base. The company's vision includes leveraging its award-winning properties and strong market position to create a global transaction platform, offering prime Japanese and overseas condominiums.
Contact Information: For media and investor relations inquiries, please contact Daisuke Takahashi, Chief Financial Officer at d-takahashi@lead-real.co.jp or +81 3-5784-5127. For additional information, visit their website at Lead Real Estate Co., Ltd.
Lead Real Estate (Nasdaq: LRE), a Japanese luxury real estate developer, announced a high-profile interview of President Eiji Nagahara in Bloomberg Businessweek published on December 1st. The company is preparing to launch its new extended-stay apartment hotel, ENT TERRACE GINZA Premium, on December 16, 2024. The company highlights its position in Japan's growing tourism and lodging industry, particularly in the mid to long-term stay segment. LRE continues to focus on luxury real estate development through its 'Excellence' and 'Excelsior' series in Tokyo's high-end housing market.
Lead Real Estate Co., (Nasdaq: LRE) has announced the opening of its new extended-stay apartment hotel, ENT TERRACE GINZA Premium, in Tokyo's prestigious Ginza district on December 16, 2024. Located just 3 minutes from Higashi-Ginza Station and next to the Kabuki-za Theater, the property features six luxury rooms with one unit per floor, each equipped with in-room kitchen, washing machine, and dryer.
The hotel, part of LRE's PREMIUM series, targets medium to long-term stays for foreign travelers and families. The launch comes amid strong tourism recovery in Japan, with foreign visitors reaching 26.87 million from January to September 2024, marking a 54.6% increase from 2023.
Lead Real Estate (Nasdaq: LRE) reported financial results for FY2024 ended June 30, showing revenue growth to JPY18.9 billion from JPY17.4 billion year-over-year. Real Estate Sales, the main revenue component, increased 8.1% to JPY18.5 billion. Despite higher delivery volumes in condominiums and single-family homes, average sale prices decreased across all categories. Net income grew 2.5% to JPY626.9 million, while operating income declined 4.3% to JPY898.5 million. The company's hotel business showed strong growth with a 46.3% revenue increase. Gross margin slightly decreased to 15.6% due to increased construction costs.
Lead Real Estate (LRE), a Japanese luxury real estate developer, has scheduled the release of its fiscal year 2024 financial results for November 21, 2024, after market close. The company will host a conference call to discuss these results on November 22, 2024, at 8:30 AM ET. Investors can participate by dialing 1-877-407-0752 or 1-201-389-0912, or access the call via webcast. A replay will be available until December 6, 2024. The company welcomes investor questions, which can be submitted in advance to info@skylineccg.com.
Lead Real Estate (Nasdaq: LRE) participated in the Radio NIKKEI IR Seminar in Sapporo on October 26, 2024, with CEO Eiji Nagahara as the lead presenter. The event, part of the Radio NIKKEI Japan Tour IR and Eimei Sakurai Stocks Lecture 2024-2025 series, attracted maximum capacity attendance of 105 investors. The presentation will be broadcast nationwide via radio and internet on October 30, from 9:00 pm to 9:30 pm JST. This initiative aims to increase LRE's visibility among Japanese retail investors, particularly relevant given Japan's third-place global ranking in household savings and recent NISA system modifications encouraging equity investments.
Lead Real Estate Co. (Nasdaq: LRE) announced the introduction of MOTHER Bracelet®, a chargeless fitness tracker, to two ENT TERRACE hotels starting November 1st, 2024. The initiative, themed 'Circulation of Happiness through Energy of Travel,' will provide hotel guests with free trackers that monitor steps, sleep, temperature, heart rate, and calories. For every 5,000 steps tracked, participating hotels will donate 50 yen (max 100 yen daily) to organizations supporting Japan's future. The bracelet, developed by MEDIROM MOTHER Labs Inc., uses temperature differential technology for power and will be available at ENT TERRACE ASAKUSA and ENT TERRACE AKIHABARA locations.
Lead Real Estate Co., (Nasdaq: LRE), a Japanese luxury real estate developer, has announced a partnership with MEDIROM MOTHER Labs Inc., a subsidiary of MEDIROM Healthcare Technologies Inc. (Nasdaq: MRM). This alliance aims to enhance LRE's ENT TERRACE extended-stay hotels with healthtech support.
The collaboration will integrate MOTHER Bracelet®, an innovative fitness tracker that requires no charging, into LRE's hotels. This device, utilizing body heat for power, will allow guests to easily monitor their health status. The implementation is set to begin in November 2024 at ENT TERRACE ASAKUSA and ENT TERRACE AKIHABARA in Tokyo.
This partnership aligns with Japan's booming tourism industry, which saw a 51.2% year-on-year increase in foreign visitors in June 2024, reaching a record high of approximately 3.13 million travelers. By offering unique experiences and health-focused amenities, LRE aims to cater to this growing market and create a "cycle of happiness" for its customers.
Lead Real Estate Co., (Nasdaq: LRE), a Japanese luxury real estate developer, has announced a special cash dividend. The dividend of $0.02 per share, totaling approximately $286,193, was approved by the Board of Directors on June 18, 2024, and subsequently at the Company's annual general meeting in September 2024.
The dividend is payable on or about September 30, 2024 to shareholders of record as of June 30, 2024 (Japan Standard Time). For American depositary receipt holders, the record date is June 28, 2024 (Eastern Time). LRE specializes in developing luxury residential properties, including single-family homes and condominiums, across Tokyo, Kanagawa prefecture, and Sapporo.
Lead Real Estate Co., (Nasdaq: LRE), a Japanese luxury real estate developer, was featured in Nikkei Money magazine on September 21, 2024. The article highlights LRE's diverse business initiatives, including:
1. Luxury real estate development in Tokyo, Kanagawa, and Sapporo
2. Commercial real estate planning and investment
3. Extended-stay hotel operations
4. Overseas real estate investments
5. Real estate digital transformation business
The company's Ent Terrace Series of long-stay hotels has been particularly successful, with occupancy rates exceeding 90% in some months. LRE plans to expand from 6 to 100 hotel locations within 6-7 years, including potential expansions to New York and London. The company's CEO, Mr. Nagahara, envisions global recognition and success following their NASDAQ listing in 2023.
Lead Real Estate Co., (Nasdaq: LRE), a Japanese luxury property developer, has received a notification from Nasdaq on August 12, 2024, regarding non-compliance with the minimum market value of publicly held shares (MVPHS) requirement. LRE's MVPHS has fallen below the required $5,000,000 for 33 consecutive business days. The company has been given until February 10, 2025, to regain compliance by maintaining an MVPHS of $5,000,000 or more for at least 10 consecutive business days. Failure to comply may result in delisting from the Nasdaq Global Market. LRE is considering options to regain compliance and may appeal any delisting determination or apply for transfer to the Nasdaq Capital Market.
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