Rakumachi <6037> operates the largest domestic Real Estate Investment platform "Rakumachi", focusing on property listing services. Real Estate Investment involves various phases from learning, purchasing properties, managing post-purchase, to selling, but Rakumachi reduces the burden of interactions with traditional agents for real estate investors and provides a one-stop service to meet all scenarios. "Rakumachi" receives listing fees from real estate companies through its "Property Listing" service (which accounted for 52% of the sales in the first quarter of the fiscal year ending July 2025), proposes unpublished property information to real estate investors and receives usage fees from real estate companies through "Proposals", collects advertising fees from YouTube videos, articles, and newsletters through "Advertisements", and generates income from seminars and Rakumachi Premium. The number of member stores using the property listing service has reached 4,925, while the number of memberships has surpassed 0.42 million, and the YouTube subscriber count has exceeded 1 million.
For the first quarter of the fiscal year ending July 2025, revenue reached 755 million yen, an increase of 36.2% compared to the same period last year, while operating profit landed at 275 million yen, a decrease of 8.8%. The pricing revision of the property listing service conducted in July led to a consistent increase in operating revenue; however, due to investments in raising brand awareness, the operating margin temporarily declined. Operating profit is expected to recover from the second quarter. The number of franchise stores using the property listing service, which temporarily decreased due to cancellations resulting from the pricing revision, is also on an upward trend. The page views (PV) reached 39,977 thousand PV (an increase of 12.9% year-on-year). The full-year revenue is projected to increase by 22.6% compared to the previous year, reaching 2,900 million yen, with operating profit anticipated to grow by 32.0% to 1,400 million yen.
Regarding growth potential, the number of memberships remains about eight times larger when considering the approximately 3.23 million individuals who report real estate income, and the number of franchise stores is roughly 24 times against about 0.12 million real estate transaction businesses, indicating significant room for expansion. Additionally, 13.8% of residential units nationwide have become vacant due to issues like aging, collapses, arson, and worsening safety, making "vacant houses" a social issue. As entry is easy at low prices and the number of needs registered by members is increasing, transactions of vacant houses through Rakumachi are becoming more active, contributing to solving social problems. Furthermore, in addition to a dividend payout ratio of 20.19%, a Share Buyback has been announced, actively returning value to Shareholders.
