Performance and Financial Results

Highlights Financial Highlights

Business Results (Non-Consolidated)

Item	2021/12	2022/12	2023/12	2024/12	2025/12
Net Sales	20,572	20,878	22,463	24,695	26,418
Gross profit	6,035	6,717	7,552	8,769	9,542
Selling, general and administrative expenses	2,990	2,975	3,397	3,862	4,072
Operating income	3,044	3,742	4,155	4,906	5,470
Ordinary income	3,009	3,758	4,058	4,714	5,191
Net income	3,171	2,883	2,821	3,200	3,704

(Millions of yen)

Financial Position (Non-Consolidated)

Item	2021/12	2022/12	2023/12	2024/12	2025/12
Total assets	42,202	45,643	49,676	55,919	64,080
Net assets	20,963	23,072	25,021	26,769	29,228
Interesting bearing debt	11,944	14,048	16,755	20,841	25,743

(Millions of yen)

Cash Flows (Non-Consolidated)

Item	2021/12	2022/12	2023/12	2024/12	2025/12
Cash flows from operating activities	5,741	1,605	3,530	5,322	5,217
Cash flows from investing activities	△1,264	△2,258	△4,667	△8,158	△7,768
Cash flows from financing activities	△825	1,492	1,818	3,018	4,010
Free cash flows	4,477	△653	△1,136	△2,434	△2,550

(Millions of yen)

Major Indicators (Non-Consolidated)

Item	2021/12	2022/12	2023/12	2024/12	2025/12
Gross margin	29.3%	32.2%	33.6%	35.5%	36.1%
Operating margin	14.8%	17.9%	18.5%	19.9%	20.7%
Return on assets (ROA)	7.3%	8.6%	8.5%	8.9%	8.7%
Return on equity (ROE)	16.2%	13.1%	11.7%	12.4%	13.2%
Shareholders’ equity ratio	49.7%	50.5%	50.4%	47.9%	45.6%
Current ratio	295.2%	322.1%	309.9%	289.7%	280.8%
Debt equity ratio (times)	57.0%	60.9%	66.9%	77.9%	88.1%

(Millions of yen)

Per Share Data (Non-Consolidated)

Item	2021/12	2022/12	2023/12	2024/12	2025/12
Basic earnings per share figures	62.68	56.89	55.62	63.06	72.91
Net assets per share figures	413.89	454.99	493.18	527.16	575.01
Dividend per share figures	11.75	17.25	19.25	22.25	26.00

(Millions of yen)

Effective November 1, 2025, the Company executed a 2-for-1 stock split of its common stock.
“Basic earnings per share,” “Net assets per share,” and “Dividends per share” have been calculated on the assumption that the stock split was conducted at the beginning of the fiscal year ended December 31, 2020.

Self Storage That Creates More Than Space

Self Storage That Creates More Than Space

Self Storage That Creates More Than Space

Self Storage That Creates More Than Space

Balance Sheet Balance Sheets

Balance Sheets (Summary)

Item	Dec/2021	Dec/2022	Dec/2023	Dec/2024	Dec/2025
Current assets	17,319,912	20,032,362	21,887,231	22,558,058	25,714,771
Cash and deposits	13,440,532	14,299,556	14,995,672	15,210,595	16,671,735
Real estate for sale	3,127,348	4,993,920	5,949,327	5,847,211	6,818,600
Fixed assets	24,882,485	25,610,991	27,788,958	33,361,559	38,365,792
Property, plant and equipment	21,217,390	21,851,991	24,236,420	28,459,957	33,185,212
Intangible assets	49,347	49,576	58,036	166,888	258,229
Total assets	42,202,397	45,643,354	49,676,189	55,919,618	64,080,563
Current liabilities	5,867,880	6,218,882	7,062,064	7,786,116	9,157,399
Fixed liabilities	15,371,277	16,351,865	17,592,954	21,363,622	25,694,501
Total liabilities	21,239,157	22,570,747	24,655,019	29,149,738	34,851,900
Net assets	20,963,239	23,072,607	25,021,170	26,769,879	29,228,662
Total liabilities and net assets	42,202,397	45,643,354	49,676,189	55,919,618	64,080,563

(Thousands of yen)

Income Statement Profit and Loss Statement

Profit and Loss Statement (Summary)

Item	Dec/2021	Dec/2022	Dec/2023	Dec/2024	Dec/2025
Net Sales	20,572,156	20,878,046	22,463,576	24,695,794	26,418,207
Cost of sales	14,536,911	14,160,334	14,910,881	15,926,511	16,875,854
Gross profit	6,035,244	6,717,711	7,552,695	8,769,282	9,542,353
Selling, general and administrative expenses	2,990,587	2,975,685	3,397,092	3,862,531	4,072,193
Operating income	3,044,657	3,742,026	4,155,603	4,906,750	5,470,160
Non-operating income	164,261	191,767	133,893	199,309	184,943
Non-operating expenses	199,550	175,185	231,025	391,988	463,226
Ordinary income	3,009,368	3,758,608	4,058,470	4,714,071	5,191,877
Extraordinary income	1,833,983	153,956	64,347	3,300	184,520
Extraordinary loss	323,867	50,455	52,037	145,757	136,098
Income before income taxes	4,519,484	3,862,108	4,070,781	4,571,614	5,240,298
Income taxes ― current	734,480	1,021,761	1,104,183	1,189,741	1,753,398
Income taxes ― deferred	613,325	192,915	145,157	180,931	△217,833
Total income taxes	1,347,806	978,746	1,249,341	1,370,673	1,535,565
Net incom	3,171,678	2,883,362	2,821,439	3,200,941	3,704,733

(Thousands of yen)

Statement of Cash Flows Cash Flow Statement

Cash Flow Statement (Summary)

Item	Dec/2021	Dec/2022	Dec/2023	Dec/2024	Dec/2025
Cash flows from operating activities	5,741,331	1,605,193	3,530,496	5,746,840	5,217,845
Cash flows from investing activities	△1,264,081	△2,258,768	△4,667,086	△8,181,630	△7,768,171
Cash flows from financing activities	△825,324	1,492,113	1,818,486	2,616,068	4,010,694
Effect of exchange rate change on cash and cash equivalents	11,639	20,485	14,219	33,644	771
Net increase (decrease) in cash and cash equivalents	3,663,654	859,023	696,116	214,923	1,461,139
Cash and cash equivalents at the beginning of the period	9,776,968	13,440,532	14,299,556	14,995,672	15,210,595
Cash and cash equivalents at the end of the period	13,440,532	14,299,556	14,995,672	15,210,595	16,671,735

(Thousands of yen)

Self Storage That Creates More Than Space

Self Storage That Creates More Than Space

Self Storage That Creates More Than Space

Self Storage That Creates More Than Space

performance

Highlights Financial Highlights

Business Results (Non-Consolidated)

Financial Position (Non-Consolidated)

Cash Flows (Non-Consolidated)

Major Indicators (Non-Consolidated)

Per Share Data (Non-Consolidated)

Balance Sheet Balance Sheets

Balance Sheets (Summary)

Income Statement Profit and Loss Statement

Profit and Loss Statement (Summary)

Statement of Cash Flows Cash Flow Statement

Cash Flow Statement (Summary)

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