Hulic has been continuously
achieving
its record profits
every year since its listing
in 2008.
The company's key strengths
include the following.
Strategic Growth through 'Selection and Concentration'
In anticipation of future market shifts, we actively invest in and develop properties primarily located close to stations in central Tokyo, including offices, commercial buildings, tourist hotels and ryokans (Japanese style luxury inns), etc. Conversely, mindful of demographic shifts and business risk, we avoid developing condominiums for sale, investing in regional offices, or engaging in large-scale developments. By strategically allocating our managerial resources based on the “Selection and Concentration” approach, our company continues to record significant growth.
Core Fields | Non-core Fields |
---|---|
Tokyo and/or near stations | Regional office buildings |
Medium-sized office buildings | Large-scale office buildings |
Reconstructions, and small to medium-sized developments | Large-scale developments |
Hotels, ryokan (Japanese-style luxury inns), next generation assets | Condominiums for sale |
Key Strengths of Hulic
Properties in Prime Locations in Central Tokyo
We own a large number of properties in Tokyo 23 wards, with more than 70% of them located within a 5-minute walk from the nearest train station. Located close to stations in central Tokyo, our properties have excellent transport links and are in demand from a wide range of tenants as general office spaces, bank branches, commercial and retail outlets, etc.
* As of December 31, 2024
* Excluding senior living and residential properties
Highly Competitive Leasing Business
In our core leasing business, we have constructed a competitive portfolio with a focus on "central Tokyo," "near stations," and "prime locations," resulting in lower vacancy rates and higher average rents compared to the market. This contributes to our company’s stable earnings.


* As of December 31, 2024
* One tsubo is approximately 3.3m2
* Source of market average data: Miki Shoji Co., Ltd., Office Data by District
(based on office buildings in Tokyo business districts with standard floor area of 100 tsubo or above).
Efficient Management with a Small Team of Professionals
Our company adopts "Driving Innovation and Accelerating Progress” as our motto and pursues efficient and lean management with a focus on productivity by gathering professionals with specialized qualifications for a small but elite workforce. As a result, our operating profit* per employee is about JPY 650 million, which is outstanding among listed companies.
*Ordinary profit: JPY 150.6 billion, Employees: 233 people (Non-consolidated basis, as of December 31, 2024)

Balanced Management
Our management policy is to strike a balance between P/L Growth, B/S Soundness, Profitability, and "Productivity (efficiency)" at a high level.
P/L Growth
Average rate of growth of
Consolidated Ordinary Profit:19.5%
Posted continued earnings growth
since listing on TSEB/S Soundness
Equity Ratio (FY2024):
33.0%
External credit rating: AA- (stable)
Profitability
Ordinary Profit to Sales Ratio (FY2024):
26.1%
Maintained higher profitability
than competitorsProductivity (Efficiency)
ROE (FY2024):
12.8%
Putting emphasis on income
per employee and ROE
*Equity ratio was calculated with 50% of hybrid finance as nominal equity
Continuously recording record high profits since our stock market listing
