Sansei Landic Co., Ltd
Financial Results for the Fiscal Year
Ended December 2023
February 22, 2024

Overview of Financial Results for the
Fiscal Year Ended December 2023

1

FY12/23 Topics• Net sales and profit for each stage reached a record high and significantly exceeded the previous
year's levels

23,269 million yen

Up 49.8% YoY

Operating income

2,155 million yen

Up 46.7% YoY

Ordinary income

1,765 million yen

Up 37.5% YoY

Net income attributableto owners of parent

1,182 million yen

Up 11.6% YoYAmount of purchases

18,617 million yen

Down 9.8% YoY

Net sales2Comparison of consolidated income statement• Net sales and profit are largely in line with the revised plan announced in August
FY12/21(Unit: million yen)

FY12/22

Results

Results

FY12/23
Revised plan Revised plan(announced in
May 2023)(announced in
Aug 2023)

Results

Difference

Net sales

16,836

15,53320,50023,50023,269-230

Gross profit

4,368

5,047

―

―

6,342

―

SG&A

3,250

3,578

―

―

4,186

―

Operating income

1,117

1,469

1,700

2,150

2,155

+5

Ordinary income

999

1,283

1,400

1,800

1,765

-34

Extraordinary income

3

20

―

―

0

―

Extraordinary loss

0

33

―

―

8

―

609

1,060

900

1,180

1,182

+2

Net income attributableto owners of parent

3

Summary of consolidated balance sheet• Although sales activities progressed steadily, property for sale and interest-bearing liabilities
increased due to continued firm purchases, resulting in an improved shareholders’ equity ratio(Unit: Million yen)

FY12/22AmountFY12/23
AmountVs. end of
previous term

Pct. change

Cash and deposits

3,827

3,770

-66

-1.7％

Property for sale

23,65725,365+1,707+7.2%

Interest-bearing
liabilities

16,39916,878

+479

+2.9%

Net assets

11,056

12,076+1,020+9.2％

Total assets

28,97630,976+1,999+6.9%

Shareholders’equity ratio

38.1%

39.0%

+0.9pt

―

ROE

9.9%

10.2%

+0.3pt―4

Summary of consolidated cash flow
• CF from operating activities was negative mainly due to an increase in inventories despite recordhigh net income• CF from investing activities was negative due to an increase in non-current assets resulting from therelocation of the head office and Kansai branch(Unit: Million yen)

FY12/21

FY12/22

FY12/23

Results

Results

Results

Cash flow from operating
activities

1,704-9,267-11

Cash flow from investing
activities

-51

-266

-765

Cash flow from financing
activities

-608

7,971

302

Net increase in cash and cash
equiv.

1,045-1,563-474

Cash and cash equiv. at end of
period

4,752

3,188

2,714
5

Sales by business segment• Leasehold：Sales and profits were well above the previous year's level and almost in line with the plan
• Old unutilized properties：Sales and profits were well above the previous year's level and almost in line with the plan
• Freehold：Sales and profit were significantly higher than the previous year but below the plan

Sales (million yen)
14,00013,154 13,138

2021

12,0002022

10,0002023(Plan)

8,367

8,208

8,399

8,253

2023(Results)

8,000
6,000

5,703

6,083

4,000

1,968

2,000

864

787

1,487

0

LeaseholdOld unutilized properties

Freehold6

Purchases by business segment• Purchases of leasehold land increased significantly due to the purchase of a large property• Old unutilized properties and freehold properties also achieved a high level of purchases, far
exceeding the planned 14.4 billion yen
Purchase amount (million yen)

14,0002021

11,97912,000

2022

9,924

10,000

2023
8,000

7,287

7,274

6,000
4,474

4,689

4,000
2,000

955

1,383 1,4060Leasehold land

Old unutilized properties

Freehold7

Changes in the number of projects and number of purchasing contracts• Stable and high level of both number of projects and contracts
700

Number of projects(Projects)

Number of purchasing
contracts (Contracts)

60

Others

600

50
Freehold

500

40

400
30
300

Old unutilized
properties
Leasehold rights

20

200

Leasehold land
10

100
0

No. of purchasing
contracts

0
1Q

2Q

3Q

2020

4Q

1Q

2Q

3Q

2021

4Q

1Q

2Q

3Q

2022

4Q

1Q

2Q

3Q

2023

4Q
8

Changes in the amount of purchases and inventories• Purchases significantly exceeded the plan due to an increase in the purchase of leasehold
land, and inventories are at a record high level
Purchase amount (million yen)

Inventories (million yen)

Leasehold land

8,000

Old unutilized

Freehold

Inventories

25,0007,000
20,000

6,000
5,000

15,0004,000
10,000

3,000
2,000

5,000
1,000
0

0
1Q

2Q

3Q

2020

4Q

1Q

2Q

3Q

2021

4Q

1Q

2Q

3Q

2022

4Q

1Q

2Q

3Q

4Q

2023
9

Medium-term Management Plan
(2022-2024)

10

Positioning of the medium-term management plan
• Focus on growth initiatives in 2022-24 as a period of qualitative enhancement• With the quantitative targets for the final year of the plan achieved in 2023, a new mediumterm management plan is being developed
Unclear situation due to
COVID-19

Stable real estate market after listing400

Net sales (100 million yen)

After COVID-19
50

Ordinary income (100 million yen)

350

40

300
250

232.7

CAGR 10.6%

200

180.2

177.7

168.4

150
100
50
0

17.7

12.8

17.6

80.4

155.3

237.0

30
20

15.0

10.0

10

7.1

7.5

2011

0
2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024
(Plan)A period of quantitative business expansion

A period of
qualitative enhancement

Re-expansion period
11Medium-term management plan:

Overall objective
Build a solid business foundation that can realize a stable business growtheven after the COVID-19 ends

Expansionof existing
businesses

Strengtheningofmanagement
base– Strengthening of organizational
capability– Creation of opportunity for businessexpansion due to the promotion of
new initiatives– Human resources development

Expansionofbusinessdomain– Strengthening of governance system– Review of back-office capable of responding toorganizational growth– Efforts toward new businesses– Implementation of M&As andalliances– Strengthening of financial foundation– Personnel reform

12

Expanding existing businesses:

Initiatives to strengthen sales and marketing
Progress in the first year of the plan

Strengthening oforganizational
capabilities

New
initiatives
Human
resourcesdevelopment

Numerical
targets– Introduce SFA (Sales Force Automation sales support) and BI (BusinessIntelligence - analysis) systems– Establish dedicated websites for each site

Progress in the second year of the plan

Key actions for the third year of the plan–

Introduced a system for sharing project case studies–

Establishment and operation of business-specificwebsites– Further enhancement of knowledge management to improve
efficiency and sophistication of sales activities–

Promotion of building an environment where
employees can concentrate on sales activities– Expansion of business-specific websites and enhancement of
website content by division and branch– Formation of various project teams across divisions andbranches– Strengthen inventory management–– Implement new business schemes on a
trial basis, focusing on leasehold land andold unutilised properties businesses as thecore– Formulated a model for a business scheme as a
derivative of the core business– Conduct test marketing of the new scheme to actual properties
and customers– Review the sales education system, which
has been mainly on-the-job training– Analyzed the behavior of top salespeople toformulate a training system targeting younger
employees– Company-wide development of education program for younger
employees– Establish a human resources department
to strengthen the education system– Formed a new HR strategy team for the entire
company and built it– Formulate strategies in collaboration with the HR strategy team– Revise gross profit margin targets upwards
for the current fiscal year

– Achieved the quantitative target for the final yearof the medium-term plan one year ahead ofschedule– Achieve procurement targets in 3Q– Maintained firm purchase volume

Improved sales productivity by utilizing part-time
employees– Further improve sales productivity– Establishment of an education system for mid-level and above– Formulate a new medium-term plan to be released in mid-2024
or later

Focus on measures to strengthen sales in order to achieve"stable and sustainable growth"13

Expanding existing businesses:

Strengthen web marketing
Operation of a landing page dedicated to Old unutilized properties••

Conduct marketing research and consider a varietyof personas to obtain direct consultation from "Oldunutilized properties" owners
Aiming to acquire a new customer base in the web
domain that is different from the real customers
received from brokers

14Expanding existing businesses:

Improve sales productivity (use of part-time employees)• Improve sales productivity by hiring new part-time employees to create an environment where fulltime employees can focus on higher value-added tasks such as real estate rights adjustment

Information

Purchase

gatheringnegotiation

Sales
negotiation

Sales

Full-time employees

Up to now

From now on

Purchase

Part-time
employee

Full-time employees

15

Expanding existing businesses:

Strengthen the sales training system
Current Progress
Analyze and systematize
behaviors and words thatlead to results throughinterviews with top sales
personnel, etc., anddevelop them for somesales personnel

High
Function, etc.

Sales skills

Low

High
Function, etc.

Business skills

In line with the revision of
the human resources
system, we are formulating
the competencies required
at each level

Low

Knowledge

SkillsMind
16

Management of leasehold land (Owner's Partner)• A business that bears the duties of the landowner who owns leasehold land
Number of square meters ofleasehold land under management

Approx. three times the size of the Tokyo Dome

Examples of contracted services
・Land rent collection
・Liaison for promotion of land rent arrears
・Land rent revision support
・Other operations related to renewal, etc

160,000 ㎡
Over 880 casesof leasehold land under management

Building relationships with landowners byundertaking management services
Responding to various circumstancesof landowners

17

Expansion of business domain:

The project to promote regional revitalization
External environment• Revival of inbound tourism• Increasing domestic and international flows ofpeople• An increasing number of municipalities and otherorganizations want to use idle assets, including
vacant houses effectively

Internal environment••

Strengthening the workforce by recruiting people
with OTA experience
A cooperation agreement will be signed tostrengthen cooperation with the local community
further

Status of deployment[Hachimantai]
Pension business increased the number of plans andadjusted prices depending on the season
YoY increase in occupancy rate and stabilization of clientele
Plans to purchase idle vacation homes and operate them asadditional lodging facilities[Rider house for women]
Preparing to open this summer an accommodation facility
using trailer houses in Izu this summer
18

Strengthening the management infrastructure
Progress in the first and second
years of the plan

Strengthening
the governancesystemReview backoffice system
Strengthening offinancialfoundation
Personnel
reform– Establishment of crisis management regulations,
including business continuity plan

Priority measures in the third yearof the plan

– Reinforcement of information management system– Foster awareness throughout the company by holding
Compliance Committee meetings and conducting
training– Enhancement of Compliance Committee,
establishment of Risk Management Committee– Evaluating and analyzing risk events to spreadawareness within the company– Launch PJT for business efficiency, analyze
operations, and formulate improvement plans– Further promotion of PJT to improve operational
efficiency, not only in the back office but also in thesales department– Respond to legal revisions, system upgrades, etc.

– Raise funds through crowdfunding– Execute SDGs-related financing– Launching a study team to revise the personnel
system– Diversification of recruitment methods– Improve company-wide productivity, including the useof IT– Secure cash position for expansion of existing
businesses and new businesses– Consideration of various financing methods tostabilize and strengthen fundraising– Ongoing consideration and implementation of new
human resource strategies– Implement education and training programs focusing
on the personnel evaluation process

19

Strengthening the management infrastructure:

Crowdfunding• Offering in Funds 1st-11th Offering. Raising over 1 billion yen• Plans to continue to conduct subscriptions as needed• As part of fundraising diversification, newly conducted CF with Takashimaya Financial Partners Inc.

20

ESG initiatives:

Real estate rights adjustment example
Location: Nagoya City, Aichi Prefecture Land area: approx. 300 tsubo Land leaseholders: 4

Land rent inarrears
Leasehold
sublease

Lease of building withland rent in arrears

Leasehold land (building withleasehold interest)

Seller-owned building
Unknown owner-occupied
building

Seller-owned land
After rights
adjustment

A mixture of leasehold land, freehold, and owner-occupied buildings
Many buildings are vacant, and grass and trees are growing freely
21

Sansei Landic’s materiality and individual issues•

We are currently formulating its sustainability policy and is considering the following materialities and individual
issuesMateriality Identification Process
Listing of target issues

Assessment of materiality by us

Identification of social issues based on
evaluation items by ESG evaluation
organizations, etc.

Evaluate the materiality of social issues
based on our corporate philosophy, etc.

Promote activities aimed at reducing environmental
impact and disaster risk

Identification of materiality andindividual issues
Determination of materiality and individual
issues for the Group based on internal review
and discussion

Realization of win-win-win for all parties involved inbusiness transactions

・Waste reduction and recycling
・Promote initiatives to protect stakeholders
from natural disasters

E

・Contribution to a safe and secure society
・Revitalization of real estate through rights
adjustment
・Regional revitalization

Environment

Society

Sustainable growth through management with greater
emphasis on governance

Cultivate human resources with diverse values andcreate a comfortable work environment
・Acquire and develop humanresources to enhance businessgrowth and customer satisfaction
・Employee health・Diversification of work styles andwork-life balanceS・Ensure legal compliance・Risk management with emphasis on BCPSGSociety

Governance

22

ESG initiatives:

Return to employees

Plans to continue base increase from the previous fiscal year

In addition to statutory holidays and scheduled holidays, employees areentitled to an additional six days off as company holidays

Plan to relocate Kyoto branch in February 2024 to enhance convenienceand provide a comfortable working environment for employees

23

FY12/24 Business Forecasts

24

FY12/24 Business forecasts
・ Consolidated Forecasts for FY12/24 (January 1, 2024 - December 31, 2024)(Unit: Million yen)

2020

2021

2022

2024
（Plan）

2023

Pct.
changeNet sales

17,774

16,836

15,53323,26923,700+1.9%

Operatingincome

847

1,117

1,469

2,155

1,800

-16.5%

Ordinary income

709

999

1,283

1,765

1,500

-15.0%Net income
attributable toowners of parent

357

609

1,060

1,182

1,000

-15.5%

42.34

73.56

129.61143.79121.35-15.6%

25

26

28

33

40

ー

EPS (Yen)
Dividend (Yen)◼ Record sales and profits were registered for 2023 due to aggressive sales ahead of schedule and the inclusion oflarge properties, as uncertainty in the real estate market was increasing◼ YoY profit decline is planned for 2024 due to better-than-expected performance in 2023 and a conservative profit
margin projection for 2024
◼ Dividend is expected to increase by 7 yen to 40 yen, marking the 11th consecutive fiscal year of dividend increase25

Real estate sales business:

Sales plan by business• Leasehold land: 10,796 million yen, Old unutilized properties: 10,964 million yen,
Freehold: 1,484 million yen, Others: 455 million yen

388（1.7％）2023(Results)

455 (1.9％)2024(Plan）(Unit: million yen)

1,484

1,487

（6.3％）（6.4％）

8,253

10,964（35.5％）（46.3％）

13,138

10,796（45.6％）（56.5％）
Leasehold land
Old untilized properties
Freehold
Others

Net sales: 23,269 million yen

Net sales: 23,700 million yen (+1.9%)
26

Real estate market and our situation

Real Estate Market
Conditions

Leaseholdlandbusiness

Results for 2023

2024 Plan– Real estate prices continue to remain high nationwide,
although there are some differences by area. In some areas,real estate transactions are stagnant due to soaring prices– The volume of information received by the Company
remained at a high level, and the volume of purchases
remained steady– No change in the lending attitude of financial institutions– Uncertainty in the real estate market is expected to increase➢ Risk of stagnation in actual demand from consumers due
to soaring real estate prices and high construction andlabor costs, which could dampen the willingness of
housing manufacturers, condominium developers, andothers to purchase land
➢ Risk of higher interest rates due to a change in the Bank ofJapan's monetary policy– Purchase sentiment for Leasehold land remained strong– Sales activities remained stable, and profit margins remained
unchanged due to the low susceptibility to market fluctuations– Leasehold land purchase sentiment is expected to remainstrong– The assumption that sales activities and profit margins willremain stable, unaffected by real estate market conditions– Except for some areas, housing manufacturers andcondominium developers, to whom we sold properties,
showed a strong willingness to purchase land
– Sales activities exceeded expectations, and profit margins
remained high due to strong market conditions– Conservatively forecast profit margins due to significant
downside risk from market fluctuations– We will closely monitor sales activities, especially in regional
areas where market fluctuations are significant

Our

Situation
Old unutilized
properties
business

27

Property for sale
• Property for sale continued to be at record high levels, as 2023 saw record sales and continued
strong purchasing(Unit: Million yen)
30,00025,36525,00023,65720,00015,00013,493

14,424

13,301

11,67810,0005,000

0End-December End-December End-December End-December End-December End-December
2018
2019
2020
2021
2022
2023
28

Changes in the business period for Leasehold land and Old unutilized properties•

While the rotation from purchase to sale used to be within one year, it is now possible to purchase with an eye
to the next fiscal year and the following two fiscal years as well
In 2023, the company achieved its best-ever performance as sales ahead of schedule progressed better than
expected. On top of that, we anticipate a large number of properties to be sold in 2024 and beyond•

2021(the same before 2020)
300
200
Sales
(100 million yen)2022
(the same before 2023)
300

233
168

200

155
Sales

100

(100 million yen)

0
2021
x
x

2022
x
x

x
Propertiesx
x

2023
x
x

2024
x
x

155

2022
x
x

x
Propertiesx
xpurchasedin 2021 xx

purchasedin 2022 xx

xx

Most properties are to be sold in the year of purchase or thefollowing year - a flow business with a turnover period of 1 year

237

100

0

2023
x
x

233

Properties to be sold within the year of purchase have gradually
decreased in recent years.
High-risk properties will be sold upfront, while properties whose profit
can be maximized will be sold for more than one year with risk
29
management

Risk management of purchased properties
Due to the inclusion of large purchases of leasehold land,
The ratio of leasehold land to total purchases of 100 million
yen or more increased

Purchases by value scale(100 million yen)

1億円未満
Less than

１億～３億円
100 million yen ～100 million yen

300 million yen

３億円超
Over

300 million yen

Composition by business(over 100 million yen)

250

6%

200

81

150
25

63

100

24

55

68

73

63

33

39

52

37

38

53

54

2019

2020

2021

2022

2023

50
0

•

Our policy

•
•

33%
60%

Leasehold land

Old unutilized properties

Freehold

We will not assume that property prices will rise and maintain a cautious approachto property purchases
Wherever possible, conclude a contract of sale at the same time as concluding acontract of property purchase
Determine each property's risk and distinguish between properties to be sold in the
short term and properties to be sold over time to maximize profit

30

Portfolio of property for sale(End-December 2023, by value)
Composition of balance by purchase period

Composition of balance by region

9%

10%
22%
32%

46%

58%
23%

2023

2022

BEFORE
2021
Before 2021

Capital
首都圏

Area

Details ofproperty forsaleWestern
西日本

Japan

Chubu
中部

region

Northern
北日本

Japan

•

Increased proportion of properties purchased in 2022 due to an increase in thenumber of properties to be worked on over a one-year project period, in
addition to properties to be sold in a short period•

Diversified portfolio by area maintained31

Shareholder returns（Dividends）•

For FY12/2023, the annual dividend is expected to be 33 yen per share, including an ordinary dividend of 30 yen and a special
dividend of 3 yen per share• For FY12/2024, the company plans to increase the dividend by 7 yen to 40 yen. This will be the 11th consecutive fiscal year of
dividend increases• We will continue strengthening shareholder returns and consider flexible shareholder return measures, Including acquisition oftreasury stock
Dividends (yen)

45
40
35
3

30
25
20

40

15
10
5
0

3

6

2013

2014

10

12

2015

2016

23

25

18

21

26

2017

2018

2019

2020

2021

28

30

2022

2023

2024

(Plan) (Plan)

32

Abolition of shareholder benefit plans and introduction of interim dividends
・ Plans to introduce an interim dividend from FY12/2024, following the abolition of shareholder
benefit plans
Annual dividend (yen)Record date

Forecast: Next FY(FY12/2024)

End of 2Q

End of Fiscal Year

15.00 yenTotal

25.00 yen

40.00 yen

33.00 yen

33.00 yen（Special dividend 3.00 yen）

（Special dividend 3.00 yen）

28.00 yen

28.00 yen

Forecast: Current FY(FY12/2023)

0.00 yen （Ordinary dividend 30.00 yen） （Ordinary dividend 30.00 yen）

Actual: Previous FY(FY12/2022)

0.00 yen

In FY12/2024, in addition to the stable year-end dividend, we will pay an interim dividend of 15 yen
per share to enhance opportunities to return profits to shareholders and encourage them to continue
to hold our shares.

33

Actions to Achieve Management
Conscious of Cost of Capital and Stock
Price

34

Trends in PBR, ROE, and PER• PBR has been below 1x since 2019, and the guideline of 1x has not been achieved• Although ROE and PER have been improving recently, some improvement is needed to achieve a PBR of 1x

ROE
0
0

15.0%
11.9% 12.3%

9.9%

0

PBR
1
1

3.6%

0

10.2%

6.0%

0

1.2

FY12/2017 FY12/2018 FY12/2019 FY12/2020 FY12/2021 FY12/2022 FY12/2023

0.8

0.8
0.6

0.7

0.6

0.7

0
FY12/2017 FY12/2018 FY12/2019 FY12/2020 FY12/2021 FY12/2022 FY12/2023

PER
25
20
15
10
5
0

17.3

8.3

11.2
6.8

6.7

6.4

7.0

FY12/2017 FY12/2018 FY12/2019 FY12/2020 FY12/2021 FY12/2022 FY12/2023

35

New medium-term plan and management conscious of cost of capital and stock price• We recognize that our cost of equity is generally around 7% (based on CAPM)

Recognition of
the current
situation• ROE is expected to be 10.2% in FY12/2023 and around 8% in FY12/2024, above the level of cost of shareholders'equity• PBR and PER have remained low for a long time after 2019
• While ROE exceeds the cost of shareholders' equity, PBR is below 1x. To improve PBR, the company recognizes theimportance of formulating and implementing medium- to long-term growth strategies while further improving ROE• We have achieved stable growth to date but have not sufficiently explained our growth strategy in detailIssues felt to
be vital

Policy• Lack of sufficient IR and PR regarding the nature and attractiveness of our business• The level of shareholder returns does not meet the expected returns demanded by the stock market• Review the current medium-term plan and start a new medium-term plan to formulate a medium- to long-term growthstrategy to improve PBR. We schedule to disclose the plan in mid-2024 or later• Further expansion of existing businesses, formulation of policies for new businesses utilizing resources from existing
businesses, enhancement of human capital, formulation of IR and PR measures, and enhancement of shareholder
returns will be considered the main pillars of the plan
• To enhance shareholder returns, introduce an interim dividend in February 2024 and increase dividends to a higher
level
36

Strengthening IR and PR
Major
challenges in
IR and PR

Efforts to date

• Low awareness of the Company among institutional and individual investors• Lack of proper understanding of our business and strengths, etc.

• Strengthening approaches to institutional investors through overseas IR, strengthening approaches to individual investors throughparticipation in IR events, strengthening the Company's information dissemination, and promoting branding activities using"Sokochi-kun," etc.
• Although the effects are gradually emerging, the Company recognizes that it still lacks sufficient recognition and appeal• Examining specific measures to strengthen IR and PR

Future policies• Considering policies focusing on enhancing information disclosure, reviewing our business presentation materials, formulating IR
and PR strategies, reviewing our IR and PR structure (e.g., establishing a dedicated department), expanding dialogue withinvestors, etc.

37

Leasehold Land Business

38

The market size of Leasehold land and Old unutilized properties
Leasehold land
There are 873,000 leased land nationwide and 155,000 in Tokyo(2018 Ministry of Internal Affairs and Communications statistical survey)
FY12/2023 Number of our sales of leased land with leasehold interest: 292(approx. 0.03% of all leased land with leasehold interest in Japan)
Net sales 8,253 million yen

Old unutilized properties
Approximately 1,606,000 wooden rented housing units built 30 years or older exist in Japan(2018 Ministry of Internal Affairs and Communications statistical survey)
The number of new housing starts for rental housing is approximately 343,000 units(2023 Ministry of Land, Infrastructure, Transport and Tourism survey)
FY12/2023 Number of Old unutilized properties handled by the Company: 89
Sales: 13,138 million yen⇨ There is significant room for growth in the business due to the increase in
the number of projects handled by the Company* Estimates based on the same assumptions for unit prices and other conditions

39

Business growth opportunities and measures to be taken• The market supply of leasehold land and old unutilized properties is expected to increase with theincrease in the number of inheritances and to reap the benefits. We will expand the number ofowner's partners and strengthen relationships with business partners
Composition of inherited assets in 2022

Retention of landowners throughexpansion of owner's partners

10.1%

36.1%
31.9%

17.0%
Land

HousesMarketable securities

Measures for the future

Land and houses
will account for 40%of the total

4.8%
Cash, deposits, etc.

Others(Leasehold land undermanagement: over 880 cases)

Strengthen relationships withprofessionals, local real estateagents, and financial institutions

Source: National Tax Agency→ Leasehold land and old unutilized properties, often sold due toinheritance or inheritance planning, are expected to increase inmarket supply as the number of inheritances increases in the
future40

Company profile
Company
nameRepresentative

Sansei Landic Co., Ltd
Takashi Matsuzaki, President and CEO

EstablishedFebruary 1976

Capital stock

860,878,000 yen (As of the end of December 2023)

ListingHead office

BranchNumber of
employees

Standard Market of the Tokyo Stock Exchange Securities Code : 3277
*Listed on the JASDAQ Stock Exchange on 2011,
First Section of the Tokyo Stock Exchange on 2014

6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo

Sapporo, Sendai, Musashino, Nagoya, Kyoto, Kansai, Fukuoka
187･･･As of the end of December 2023
41

Contact
Thank you very much for your attention.
■ The statements including perspectives on our group, plans, policies,
strategies, schedules and judgements that are not facts in this material areforward-looking statements about the future performance.

■ Forward-looking statements about the future performance are based on
information currently available and certain assumptions that our groupbelieves to be reasonable. Actual results may differ significantly from theforward-looking statements due to various risk factors and uncertainties.
Please do not place undue reliance on these forward-looking statements.
■ The data in this material contains quotations of public information that
we believe to be reliable and accurate, but we do not guarantee theaccuracy or certainty of the contents.
<<Contact>>
Corporate Planning Office, Sansei Landic Co., Ltd
TEL:03-5252-7511
E-mail: keiki@sansei-l.co.jp
42