Star Mica Holdings (2975) is a holding company consisting of the company itself and five consolidated subsidiaries, operating across three business segments. It primarily invests in and operates rental properties such as used condominiums, selling renovated properties after improving their value through renovations once tenants vacate, known as the renovation condominium business; the investment business conducts investments and financing for real estate, business companies, and funds, aiming mainly at acquiring investment returns; and the advisory business handles the sale and rental brokerage of real estate, property management, and consulting in the finance and real estate sectors. In the third quarter of the fiscal year ending November 2024, the segment sales composition ratio shows that the renovation condominium business occupies about 95.6%, making it the core business. Since its establishment, the company has created a distribution market for owner-change properties (income properties sold while tenants are still occupying), possessing strengths such as a network with brokerage firms, high operational capabilities, and advanced finance capabilities.

In the consolidated results for the third quarter of the fiscal year ending November 2024, revenue increased by 9.5% year-on-year to 40,626 million yen, while operating profit increased by 11.2% to 4,518 million yen. While steadily implementing various strategies laid out in the medium-term management plan "Find the Value 2026," all three businesses – the renovation condominium business, investment business, and advisory business – performed well. In particular, strategies such as "return to owner-change properties" and "expansion of urban shares" have proven effective, leading to an increase in the gross profit margin of the renovation condominium business. Overall profitability was boosted by the solid profits recorded in the investment business, which resumed investments in single income properties.

Consolidated results for the fiscal year ending November 2024 are expected to show an increase in revenue of 10.8% compared to the previous term to 54,157 million yen and an increase in operating profit of 3.8% to 5,028 million yen. Both revenue and profit have been steadily increasing lately, with the progress rate at the end of the third quarter being 75.0% for revenue and 89.9% for operating profit. The plan is to continue promoting the business strategies outlined in the medium-term management plan toward the end of the term, focusing on revenue expansion and profit accumulation. While there are no changes to the full-year performance forecast, benefiting from steady profit accumulation, the year-end dividend forecast has been revised to a 12.5 yen increase per share (the previous forecast was 10.5 yen). Consequently, the annual dividend is expected to be 23.0 yen, an increase of 3.0 yen compared to the previous term, and the dividend yield will be 3.23%. The company has set a policy for shareholder returns prioritizing growth investments while executing stable and increasing dividends, along with the agile acquisition of treasury shares, aiming for a total return ratio of 40%. Under this policy, there has been no reduction in dividends since listing. The company also actively conducts the acquisition of treasury shares, indicating its commitment to returning value to shareholders.

Regarding the medium-term management plan, the company aims to maximize corporate value by advancing business strategies, financial strategies, and IR strategies under "Find the Value 2026." The business strategies emphasize key measures such as "return to owner-change properties," "expansion of urban shares," "reform structural changes," "shortening sales business periods," and "promotion of fund formation," intending to enhance profitability and efficiency while expanding performance. To further strengthen these strategies, the company announced organizational changes and personnel transfers effective December 1, 2024. The organizational transformation is expected to boost the area strategy aimed at expanding shares in urban areas and promote operational efficiency through a reallocation of management resources. It is anticipated that this organizational reform will accelerate the future performance growth rate of the company.