CREAL_Company Profile

Transcript

1. Company Profile Creal Inc. Last Update : 2026.11 © CREAL Inc. All Rights Reserved.
2. Company Overview Company Overview Company Name CREAL Inc. Representative President and CEO Daizo Yokota Establishment Date May 11, 2011 Head Office Location 8th Floor, Shimbashi 27MT Building, 2-12-11 Shimbashi, Minato-ku, Tokyo 105-0004, Japan (Group General Reception) Registered Capital JPY 3,462,214,050 Business Activities Asset Management Platform Business Real Estate Fund Online Marketplace - "CREAL" Real Estate Investment Management Service for Individuals - "CREAL PB" Asset Management Service for Institutional Investors and Ultra-High-Net-Worth Individuals - "CREAL PRO" Group Companies CREAL PARTNERS Inc. CREAL ASIA Pte Ltd CREAL HOTELS Inc. USUKI SECURITIES Co.,Ltd. CREAL ASSET MANAGEMENT Inc. Number of Employees 336（Consolidated, as of February 2026) Licenses ・Real Estate Specific Joint Enterprise Permit : License Number FSA & MLIT No.135 ・Registered Financial Instrument Business (Type II Financial Instrument Business, Advisor and Agency): Kanto Financial Bureau Chief (Financial Instruments) No.2898 ・MLIT License (1) No.11230 (as of the end of October 2026) 2
3. Company Overview Company History Year Month Event 2011 May Registered as a Type II Financial Instruments Business (brokerage, investment advisory and agency business). 2016 January Registered as a Financial Instrument Business (Type II Financial Instrument Business, Advisor and Agency) 2017 July Acquired Real Estate Business License 2018 October November ・Acquired Type II license for Specified Joint Real Estate Ventures (including electronic transaction business) ・Launched the “CREAL” service 2021 March ・Changed corporate name to “CREAL Inc.” 2022 April ・Listed on the Tokyo Stock Exchange Growth Market 2023 February May August November ・Formed a capital and business alliance with SBI Holdings ・Relocated head office to current location ・Established the Real Estate Crowdfunding Association, led by our company’s founder, who assumed office as the association's representative director. ・Established CREAL ASIA Pte Ltd. in Singapore. 2024 July November ・Established CREAL Hotels Inc. ・Entered into a business alliance with TAT Co., Ltd. and made it into an equity-method affiliate 2025 January March June ・Made Usuki Securities Co., Ltd. a wholly-owned subsidiary ・Announced the Medium-Term Management Plan “Game Changer 2030” ・Established CREAL ASSET MANAGEMENT Inc. ・Obtained approval for Type 3 and Type 4 Real Estate Specified Joint Enterprise under the Real Estate Specified Joint Enterprise Act 2026 October ・Usuki Securities Co., Ltd Completes Registration Amendment for Type 1 Financial Instruments Business 3
4. Company Overview Company Mission Transforming Real Estate Investment for a Better Future Promoting the digital transformation (DX) of the real estate investment process innovatively Through real estate investment, we create asset management services that are accessible, user-friendly, and secure for everyone 4
5. Company Overview Executive Management Daizo Yokota Joined the Company as President and CEO in April 2017, following tenure at Accenture, Orix, LaSalle Investment Management, and Shinsei Bank. President & CEO, Representative Director, Executive Officer 2020 Member, Ministry of Land, Infrastructure, Transport and Tourism’s Committee on Real Estate Specified Joint Ventures (FTK) 2022 Director, Real Estate Tech Association 2023 Director, Real Estate Specified Joint Venture Association, Representative Director, Real Estate Crowdfunding Association Tomoaki Ota Yoshihiro Kaneko CTO, Director, Executive Officer Executive Vice President & CFO, Director, Executive Officer CPA (Japan) Joined the Company in July 2018, having previously served at IMJ (currently Accenture) and Recruit Technologies (currently Recruit). Joined the Company in September 2016, following tenure at Chuo Aoyama Audit Corporation and PwC Advisory. Yusuke Yamanaka CIO, Director, Executive Officer Joined the Company in November 2018, after working at Pacific Management (later renamed Pacific Holdings) and Japan REIT Advisors. Koji Okada Akinari Tokuyama CFO, Director, Executive Officer Chairman, Director Joined the Company in Feb 2025; background at Nikko Citigroup, Mitsubishi UFJ Morgan Stanley (IBD), Kasumigaseki Capital (Executive Director), and CFO at startups/PE portfolio firms. Founded CREAL Group in May 2011, having previously served at Goldman Sachs Securities (Investment Banking Division) and Carlyle Japan LLC (Buyout Team). 5
6. Company Overview Executive Management: Outside Directors/Audit & Supervisory Board Members Outside Directors (Independent) Mirai Murakami Satoshi Sadakata Miyuki Tani CPA (Japan) Founded somebuddy Inc. after roles at Chuo Aoyama Audit Corporation, UBS Securities, KPMG Healthcare Japan, and Uzabase, Inc. Experienced in audit, M&A advisory, and IPO as CFO. Currently supports multiple companies and serves as an outside director for several firms Joined The Mitsubishi Bank, Ltd. (now MUFG Bank, Ltd.), earned an MBA from the Wharton School, University of Pennsylvania, and held key positions including Branch Manager, Director at Tokyo-Mitsubishi Securities (now Mitsubishi UFJ Morgan Stanley Securities), and Executive Officer at Dentsu International Information Services. Began career in audit at Arthur Andersen LLP (Chicago), then engaged in real estate and hotel investment in Japan. Previously served as CFO of Panorama Hospitality and Executive Director at Morgan Stanley Capital. Master’s degree from Hitotsubashi University, Graduate School of International Corporate Strategy. Statutory Auditors Kazunori Honda （Full-time） CPA (Japan) ／Certified Tax Accountant Began career at Chuo Aoyama Audit Corporation and founded Kazunori Honda CPA Office in 2007. Experienced in audit, SOX compliance, and internal control. Appointed Full-time Audit & Supervisory Board Member in 2019 Tomohiro Sato Lawyer (JP & New York) Kiyoshi Hirono Joined Asahi & Koma Law Offices (now Nishimura & Asahi). LL.M. from Boston University (2007) and King’s College London (2008). Admitted to the New York State Bar in 2008. Currently a Partner at Nishimura & Asahi CPA (Japan) Worked at Deloitte Touche Tohmatsu (now Deloitte Japan) and GAGA Communications Inc. (now GAGA Corporation) before becoming independent. Currently serves as Outside Director at CELM Inc. Hanae Kanzaki Joined Japan Airlines Co., Ltd. in 2015. After leaving the company in 2022, joined Atsumi & Sakai and currently serves as a Partner Attorney.JP Lawyer. 6
7. Company Overview The Innovation CREAL Brings to Real Estate Investment Transforming Real Estate Investment for a Better Future Driving Digital Transformation in Real Estate Investment Asset Management, which has yet to be embraced Enabling Easy and Stable Real Estate Investment for All Democratization of Real Estate Investment Digitalization of the Asset Management Process Typical Real Estate Investment Process Real Estate Acquisition Operations and Property Management Reporting Real Estate Disposition The Network of the Person in Charge Manual Operations The Network of the Person in Charge Institutional Investors and High-Net-Worth Individuals (HNWIs) Utilization of DX Online N-to-N Matching All Investors, Including Individual Investors Enhancing efficiency in deal sourcing and evaluation through DX initiatives Fast and Cost-Efficient Online Financial and Management Reporting N-to-N Matching Using Web/App Small-Scale Online Investment via Crowdfunding Investors Our Platform 7
8. Company Overview Asset Management Platform Business Attracting a Wide Range of Investors Operating an asset management platform that leverages DX to deliver self-structured investment products to a broad range of investors. CREAL is our core growth driver, aiming to democratize real estate investment. Distributing tailored products to each investor segment through proprietary channels Entry-level Investors Experienced Investors High-Net-Worth Individuals (HNWIs) Institutional Investors Asset Management Platform Business Asset Accumulation Segment Real Estate Fund Online Marketplace Retail Real Estate Investment Crowdfunding Direct Real Estate Investment Amount from Investment Amount from Short-Term Online Investment Products Long-Term DX-Driven Direct Real Estate Investment 10,000 yen Our Core Growth Business Hotel Operations Professional Real Estate Fund Business Private Fund Investment Amount from 10 million yen 100 million yen Large-Scale Real Estate Investment Pipeline Supply and Value-Addition Pipeline Supply of Hotel Projects Property Management Services Value-Added through Leasing and Rent Renewals 8
9. Company Overview Our Aspirational Future — Product Portfolio and Customer Reach in Five Years We plan to launch new asset management products backed by real estate, such as security tokens (ST) and digital bonds. In addition, we are developing funds that target a wide range of alternative assets beyond real estate, promoting a “multi-asset × multi-product” strategy. Multi-Product Strategy Tailored to Each Investor Segment via Proprietary Channels Experienced Investors Entry-level Investors High-Net-Worth Individuals (HNWIs) Institutional Investors Asset Accumulation Segment Multi-product × (Tentative) security token (ST) Crowdfunding FUND (Tentative) Direct Real Estate Private Fund Other Alternative Investments Diversified Pipeline of Alternative Assets Beyond Real Estate Multi-Asset Real Estate Private Credit Evolving into an Asset Management Platform Covering a Broad Range of Alternative Assets Creating and Distributing Financial Products In-House : “Financial Product SPA” (Financial Product Manufacturer-Retailer) 9
10. CREAL Crowdfunding Challenges of Real Estate Investment for Individuals Real estate investment should be an attractive asset management option with a mid-risk, mid-return profile—but for individual investors, it often feels out of reach. Too much hassle Involves debt Complicated Common Perceptions of Real Estate Investment Hard to understand Risky Suspicious “CREAL” Solves Real Estate Investment Challenges CREAL is a service that democratizes real estate investment—making it easy to invest online from as little as ¥10,000 1 Simple Fully Online No Loan Required Hands-Off Operation 2 Easy to Understand Video Introductions Monthly Reports Abundant information 3 Safe and Trustworthy Leading company CREAL also co-invests Various properties including ESG 10
11. CREAL Crowdfunding 1 Simple Complete investment online from just 10,000 yen Utilizing crowdfunding technology, this service allows investment in various real estate starting from a single unit of 10,000 yen. 1 Choose a fund 2 Click to apply for investment 3 Agree to the contract documents 4 Enter the amount and complete You can invest in various real estate types such as residentials, hotels, healthcare, commercial facilities, and logistics facilities Investment Period Investment Amount Yield 10,000yen 3.0%～10.0% *1 3mo～7yr *2 *1 Expected dividend yield of each fund from service launch until the end of March 2025 *2 Expected investment period of each fund from service launch until the end of March 2025 11
12. CREAL Crowdfunding 1 Simple Professional Management from Operation to Exit From post-investment property management and operations to the optimal exit strategy, every step of the real estate investment process is handled by professionals. Traditional Real Estate Investment Process Loan arrangement through financial institutions From just 10,000 yen per unit. No loan required Investment execution Investment executed entirely online Operations and property management Deposition (property sale) All processes handled by professionals 12
13. CREAL Crowdfunding 2 Easy to Understand CREAL Investment Product Information Page By leveraging IT, we provide a wide range of disclosures—from video interviews to third-party evaluations by real estate appraisal firms—resolving the issue of “information asymmetry*” that has long been a challenge in real estate investment. Disclosure Items (e.g.) Property video & operator interview Risk disclosure Property details (map, land/building info, plans) Property report & building inspection Rent/sales comps Return simulation Operator & lease overview Fundraising amount & use of proceeds ＊Refers to the imbalance of information between the property seller (a real estate company) and the buyer (a general individual), which often forces the buyer to invest in real estate under unfavorable conditions 13
14. CREAL Crowdfunding 3 3 Safe and Trustworthy A profit-sharing scheme We have introduced a scheme in which profits from the sale of properties are shared between our company and investors, enabling us to operate with a common profit objective. By aligning our investment performance with the realization of investor returns, we achieve highly transparent and reliable asset management. Real Estate 2 Online Fund Investors Acquisition 3 Rent 1 Investment 4 Dividends CREAL Investors 7 Principal Repayment Investment Funds CREAL Inc. （Operating Entity） 5 Deposition 6 Proceeds from Sale Residence Office School Nursery Hotel Logistics Retail 14
15. CREAL Crowdfunding Creating Investment Opportunities in ESG Real Estate 3 Safe and Trustworthy Promoting institutional investment in ESG real estate, which has faced scale and track record challenges, to achieve both financial and social returns. ESG real estate investments Healthcare Track Record Over 5 bn yen Education Family Hospice Nakajima Park House *1 Regional Revitalization Our strength lies in the continued formation and offering of ESG-focused funds - a unique advantage Social Finance*2 Initiatives Issued social bonds through private funds investing in ESG real estate *1 *2 Chikura Tsunagu Hotel PAL International Nursery@Tokyo University of Foreign Studies Building Reuse Q Stay and Lounge Ueno Healthcare Development of general hospitals Development of senior care facilities Total funds raised for ESG real estate investments via CREAL as of March 2025 Social finance refers to financing methods that support projects addressing social issues 15
16. CREAL Crowdfunding CREAL Track Record To meet the diverse needs of investors, we have expanded our attractive product lineup.As a result, our total amount raised has surpassed 120 billion yen (as of November, 2026). Real Estate Crowdfunding Cumulative Amount Raised JPY Operating Performance 120.4 bn 147 Funds Office 0 cases of principal impairment (As of November) Recent Major Fund Achievements Hanzomon Redemption Record Abiko Nursing Home 2.11 0.63 bn yen million yen Garner Kitasenba Bunkyo Sengoku Residense 3.42 2.41 billion yen billion yen 16
17. CREAL Crowdfunding Our Competitive Advantages Operating under the Real Estate Specified Joint Enterprise Act requires not only a license for online transactions but also strong capabilities in system development, investment management, and marketing. 1 2 System Development Product Development 1 System Development Engineering Team Skilled in-house engineers and designers develop advanced, user-friendly DX systems 2 Product Development Investment Management Team A team with real estate and finance expertise offers a wide range of investment products 3 3 Marketing Marketing Team Experts from top web marketing firms use data-driven strategies to efficiently acquire investors Marketing 17
18. CREAL Crowdfunding Comparison with Other Financial Products CREAL offers unique advantages in ease of investment, stability, and clear information disclosure, unlike traditional investment products. Stock Investment / REIT Investment possible from 10,000 yen Usually require minimum investments of several hundred thousand yen Stability No daily price fluctuations Fluctuate daily and are affected by macroeconomic conditions and specific negative news Clarity of Information Detailed and easy-tounderstand disclosures for each individual property Provide detailed documents, but they can be difficult for beginners to understand Ease of Investment 18
19. CREAL Crowdfunding Comparison of Real Estate Crowdfunding Schemes There are various schemes for real estate crowdfunding. CREAL uses an equity-based scheme, which differs from the widely used loan-based scheme. Equity-Based Crowdfunding (Specified Joint Real Estate Business Act) Governance FTK3&4 Fund Ownership is held by an SPC, while the operator manages asset management. Direct use, income, and disposal are possible FTK1&2 Fund The operator owns the property and can directly use, earn income from, and dispose of it Loan-Based Crowdfunding (Social Lending) Funds are lent to borrowers via a crowdfunding platform. Direct use, income, or disposal of the property is not possible. Thus, managing borrowers' financial conditions, fund usage, and governance is critical Information Disclosure Disclosure of property operation and financial results is at the operator's discretion Disclosure of property operation and financial results requires borrower consent Same Boat Investment Operators, including CREAL, generally make subordinated investments to cover losses* No subordinated investment is generally provided * In case of losses, operators protect investors by bearing losses first through subordinated investments 19
20. CREAL Crowdfunding Risk and Return of CREAL Funds With the vision of “enabling everyone to easily start stable real estate investment,” our lineup focuses on Core, Core Plus, and Value-Add funds. Return Composition Opportunistic Funds primarily seek capital returns through buying and selling properties based on market forecasts Risk High Capital Return Value-Add Funds aim for capital returns by actively improving and increasing the value of undervalued properties, in addition to earning rental income Core Plus Funds focus mainly on rental income like Core funds but also seek some capital returns Income Return Defined by ARES https://index.ares.or.jp/ja/about/corefund.php Core Funds primarily aim to generate income returns from property rentals Low 20
21. CREAL Crowdfunding Growth of Online Real Estate Investment and Crowdfunding Market By leveraging crowdfunding technology, more individuals can invest in real estate online with small amounts. The global online real estate investment market is expected to grow, with Japan’s market projected to reach approximately 58.3 bn yen by 2032. Japan (mn USD) Global (mn USD) 793,477 58,380 CAGR*2 CAGR*1 50.6% 814 1,077 50.9% Institutional Investor Institutional Investor 72.0% 71.8% Individual Investor Individual Investor 28.0% *1 Japan's projected annual growth rate of online real estate investment balance from 2022 to 2032 *2 Global projected annual growth rate of online real estate investment balance from 2022 to 2032 10,783 14,295 28.2% Source：Polaris Market Research & Consulting LLP, Real Estate Crowdfunding Market Report (Forecast to 2032) 21
22. CREAL PB DX and Competitive Advantage Driven by CREAL PB We promote DX across the entire value chain to achieve high efficiency. We develop proprietary systems for each phase—sales/customer management, and rental management—establishing a competitive edge. Sales/Customer Management Offline profit and loss reporting and customer management Rental Management*2 Offline information management and decentralized control Additional purchase Online reporting system In-house developed SFA/CRM*1 Online management system enabling efficient operations *1 SFA: Sales Force Automation CRM: Customer Relationship Management *2 The rental management business is operated by a subsidiary and classified as "Other Services." 22
23. CREAL PB Greater Tokyo Pre-Owned Condominium Market Full process streamlined via in-house DX: sourcing, sales, CRM, rental management Large TAM with significant growth potential. Potential Market Greater Tokyo Pre-Owned Condominium Market Size Approx 1.7trillion yen *2 annually Our Market Share 0.4%*3 *1 *2 *3 Total Addressable Market (maximum market size) Based on the Real Estate Information Network for East Japan report (Apr 2023–Mar 2024) CREAL PB sales as a share of the Tokyo metro pre-owned condo market (1.7 trillion JPY) in FY2024/3 23
24. CREAL PRO CREAL PRO: Services for Institutional and HNWIs CREAL PRO offers real estate investment management for institutional and HNWIs. It targets large properties, using professional networks for sourcing and exits, and builds a stable fee business through fund management. Fund under Management Real Estate Market Investment Investors Property Dividend Residential/Hotel/Healthcare/Nursery etc. Asset Management Fee CREAL 24
25. Overseas Business 【CREAL ASIA】Our Singapore subsidiary, serves as the core of global expansion Established in November 2023 to support the global expansion of CREAL, CREAL PRO, and CREAL PB services. The company has handled numerous fund arrangements backed by overseas investors. HOTEL + HOSTEL AsakusaⅠ・Ⅱ THE MACHIYA EBISUYA Tokyo 23-Ward Residential Fund ・A restart project following a temporary closure due to the COVID-19 pandemic ・Differentiated from competitors in the area by offering a higher-grade dormitory style and a large communal bath ・In collaboration with an operator experienced in managing traditional Machiya-style hotels ・Located in the central ShijoKawaramachi area of Kyoto, this hotel maximizes the appeal of a two-story wooden Machiya townhouse built in 1918, offering an authentic Kyoto experience ・Inbound investment demand for residential properties within Tokyo’s 23 wards ・In response to this demand, a portfolio was assembled combining CREAL-listed properties (as shown on page 23) and external properties Operator Change Rebranding Fund Arrangement Fund Arrangement Fund Arrangement Asset Management Asset Management Property Management （CREAL PARTNERS） 25
26. Hotel Operating Business 【HOTELS】Target Segments Target segments are limited-service hotels in the mid-to-high price range, and near-future hotels that embody “more freedom, more innovative, and enhanced lodging experience value” by leveraging our core strength in DX. Limited / Self-Managed (DX-Based Operations) Hostel, Vacation Rental Economy Midscale ～ Upper Midscale ⚫ High–End Apartment Hotel ⚫ Private Villa High Price Low Price Apartment Hotel: A hotel with spacious rooms equipped with kitchens and washing machines, suitable for long-term stays Villa: A hotel style featuring private buildings or cottages, offering a high degree of privacy Upscale ～ Upper Upscale Luxury Japanese-style inn Resort Luxury Full-Service Model (HR-Based Operations) Growth Strategy ⚫ Plan to build a pipeline of 50 properties over the next four years ⚫ Improve customer experience and operational efficiency through DX, enhancing profitability ⚫ Strengthen deal sourcing through collaboration with CREAL 26
27. Real Estate Crowdfunding Association for Japan(RCA) Activities of the Real Estate Crowdfunding Association for Japan(RCA) In December 2024, the Japan Real Estate Crowdfunding Association, chaired by President and Representative Director Yokota, integrated with other organizations to become the industry’s sole trade association. The Association participated in the Real Estate Crowdfunding Parliamentary League General Meeting in December 2025 and held three “Self-Regulatory Rules Review Committees” by January 2026. In March 2026, it released a checklist for solicitation screens related to FTK products and plans to implement strict operations, including penalties （No. of Companies） （No. of Data） 1,340 1,500 60 50 1,000 44 28 500 534 *1 "Self-Regulation Rule Review Committee" 30 20 0 2023/8 2023/12 2024年12月 2024/12 2025年12月 2025/12*1※1 2023年8月 2023年12月 Association Founded Building a Real Estate Crowdfunding Database 10 41 New Members 入会者数（右軸） (Right Axis) 40 Database Property 取得データベース物件数 Listings Association Merger Data as of the end of December for each year Recognition 0 15 0 50 Transparency Number of members and number of properties registered in the database Information Dissemination as an Industry Group (Industry Reports, White Papers, etc.) Participation in the General Meeting of the Parliamentary Federation for the Promotion of Real Estate Crowdfunding 27