Lead Real Estate Co., Ltd.

General Information
(Note:  This is an IPO of American Depositary Shares to be listed on the NASDAQ. Each ADS represents one ordinary share.) 
We seek to leverage our nationally recognized award-winning luxury homes and our strong market position in the luxury residential property market in Tokyo and Kanagawa prefecture to create a global transaction platform allowing access to prime Japanese condominiums as well as overseas condominiums, including in the U.S. and Hong Kong. (Incorporated in Japan)

We are a growing developer of luxury residential properties, including single-family homes and condominiums, across Tokyo and Kanagawa prefecture. In addition, we operate hotels in Tokyo and lease apartment building units to individual customers in Japan and Dallas, Texas. 

We primarily generate revenue from developing and selling single-family homes and condominiums. Since our inception in 2001, we have delivered more than 1,000 single-family homes and 25 condominiums. The target customers of our single-family homes are wealthy family buyers who are looking for luxury single-family homes as their primary residence, while the target customers of our condominiums are institutional customers who look to purchase entire condominiums for investment purposes. 

In addition, we launched our interactive media platform, Glocaly, in October 2021, as a listing and marketing platform seeking to facilitate matching of sellers and buyers of condominiums. 

**Note: Revenue and net income figures are in U.S. dollars for the 12 months that ended June 30, 2022.

(Lead Real Estate Co. Ltd. priced its IPO on Sept. 26, 2023, at $7.00 – the low end of its $7.00-to-$9.00 price range – and sold 1.14 million American Depositary Shares (1,143,000 ADS) – the same number in the prospectus – to raise $8.0 million.)

(Note: Lead Real Estate Co. Ltd. revived its IPO, which had been postponed on March 30, 2023, in an F-1/A filing dated May 25, 2023, with the same terms as before: 1.14 million shares (1,143,000 shares) at $7.00 to $9.00 to raise $9.14 million. Lead Real Estate Co. Ltd. postponed its IPO on Thursday, March 30, 2023; the micro-cap IPO had been scheduled to price Thursday night to trade Friday, March 31, on the NASDAQ. Lead Real Estate Co., Ltd. switched underwriters – to EF Hutton from Network 1 Financial Securities – according to an F-1/A filing dated Feb. 28, 2023. Lead Real Estate Co. Ltd. cut its IPO to 1.14 million American Depositary Shares (1,143,000 ADS) –  down from 2.0 million ADS – and kept the price range at $7.00 to $9.00 – to raise $9.14 million in an F-1/A filing dated Jan. 27, 2023. The IPO’s downsizing of nearly 43 percent  followed a delay in its pricing date; the micro-cap IPO had been scheduled for pricing on Jan. 25, 2023. Previously: Lead Real Estate Co. Ltd. cut the price range of its IPO in an F-1/A filing dated Jan. 4, 2023, to $7.00 to $9.00 – down from $12.00 to $15.00 – and kept the number of American Depositary Shares (ADS) at 2.0 million to raise $16.0 million – down from $27.0 million previously. Lead Real Estate Co., Ltd.’s IPO was previously on hold after the NASDAQ put approval of small-cap IPO listings on hold during the week of Sept. 19, 2022. Lead Real Estate Co., Ltd. had previously expected to price its IPO (American Depositary Shares) on Sept. 26, 2022, with a NASDAQ trade date of Sept. 30, 2022. Lead Real Estate Co., Ltd. filed its F-1 (prospectus) with terms included on Aug. 11, 2022. The company is known in Japan as Kabushiki Kaisha Lead Real Estate. The company filed confidential IPO documents with the SEC on April 7, 2022.)
Employees: 46
Founded: 2001
Contact Information
Address 6F, MFPR Shibuya Nanpeidai Building 16-11 Nampeidai-cho, Shibuya-ku Tokyo, 150-0036, Japan
Phone Number +81 03-5784-5127
Web Address http://www.lead-real.co.jp/en/
View Prospectus: Lead Real Estate Co., Ltd.
Financial Information
Market Cap $95.48mil
Revenues $105.54 mil (last 12 months)
Net Income $3.89 mil (last 12 months)
IPO Profile
Symbol LRE
Exchange NASDAQ
Shares (millions): 1.1
Price range $7.00 - $7.00
Est. $ Volume $8.0 mil
Manager / Joint Managers EF Hutton
Expected To Trade: 9/27/2023
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change