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Lear - Issuance of new stocks with transfer restrictions.
Lear Gate <5532> announced on the 24th that it will issue new shares as restricted stocks. The payment deadline is January 14, 2025, and the company will issue 11,000 shares of common stock. The issue price is 2,479 yen per share, with a total issuance amount of 0.027 billion yen, and the planned allocation is for four directors. This aims to provide incentives for the continuous improvement of the company's corporate value and to promote further value sharing with shareholders, targeting new shares for the company's directors (excluding outside directors).
Lear has completed the settlement for the A-REIT ETF for sale in Nakameguro.
Real Gate Co., Ltd. <5532> announced on the 23rd that it completed the settlement for the residential real estate located in Nakameguro, Meguro-ku, Tokyo on the 20th. The property consists of approximately 1,000 square meters of land and a three-story building with a basement, constructed from reinforced concrete, with a total floor area of about 2,000 square meters, used as offices and shared residences.
Real Gate Research Memo (8): For the time being, capital gains are expected against the backdrop of high profit growth.
■ The shareholder return policy of Real Gate <5532> plans to forgo dividends for the fiscal year ending September 2024 in order to prioritize investments for growth. The funds obtained from the listing will, in the short term, be utilized for securing properties. The company is uniquely positioned as it offers small office and share office solutions in Shibuya and Minato wards in a seamless manner. Due to high customer evaluations and a continuously upward performance, the current investment stance primarily aims for capital gains.
Lear Gate Research Memo (5): For the fiscal year ending September 2024, operating profit is expected to increase by 39.7% compared to the previous period. Success in transitioning the Business model.
■ The performance trends of Lear Gate <5532> 1. Overview of performance for the fiscal year ending September 2024. For the fiscal year ending September 2024, revenue increased by 14.0% year-on-year to 7,948 million yen, operating profit increased by 39.7% to 766 million yen, ordinary profit increased by 30.0% to 629 million yen, and net income increased by 36.5% to 380 million yen, achieving growth in both revenue and profit. Regarding revenue, both stock-type and flow-type performed well. Stock-type revenue increased by 10.8% year-on-year to 5,520 million yen.
Real Gate Research Memo (4): The business processes, revenue structure, and strengths of Lear.
■ The business overview of Lear Gate <5532> 5. Business process: From planning and design to Operation (ML・PM), everything is internally produced. In the company, projects are formed for each property, and under the project leader, members such as planning sales (licensed real estate agent), first-class architects, first-class construction management engineers, designers, and sales administration collaborate on the work. The project carries out planning and design, construction and Leasing, and Operation seamlessly. In particular, the company places heavy emphasis on 'Operation' tasks.
Lear Gate Research Memo (2): Revitalizing and operating old small buildings as vintage properties for small offices.
■Company Overview 1. Company Overview Lear Gate <5532> is a Growth Tech company engaged in the FWP business, revitalizing old small buildings in the city center, mainly in the Shibuya area, into small offices and share offices. Since its founding in 2009, it has achieved continuous revenue growth for 15 consecutive terms. The corporate philosophy is to "bring value to the old, creativity to real estate, and freedom to work styles," and the company is working to realize this vision. The company has been led since its inception by a first-class architect with an overseas qualification.