1814 Daisue Construction
- May 20, 2025
- 1 min read
Updated: Jun 17, 2025
Daisue Construction engages in construction for private sector such as condominiums. Mainly operates in Kansai, but the revenue weight from the Tokyo metropolitan area is increasing. Misawa Homes owns 20% as the largest shareholder.
English summary of the latest earning analysis, published by Rakutai (楽待) News:
Business Overview
- Founded in 1937, a mid-sized general contractor primarily operating in the Kansai region.
- Recently constructed the Czech Pavilion for the Osaka Expo.
- Core business: condominium construction, with top-tier performance in Japan’s three major metropolitan areas.
- Builds 20–30 condominium projects annually, with a stable client base including major and mid-sized developers and house builders.
- Other segments: general construction ("ikkyu-kenchiku") (offices, logistics warehouses, factories) and renewal (repairs, seismic retrofitting, renovations).
Historical Operating Performance
- Revenue: ¥89 billion (condominiums 76.5%, general construction 16.7%, renewal 5.6%, other 1.2%).
- Condominiums account for ~75% of revenue.
- Revenue flat for over past 10 year and stagnated…
this guy tracks this stock
https://x.com/kiyohara_stock/status/1922303560261513692
22 bil yen mkt cap vs net cash of 17 bil yen
Famously called "Imura Toshiya fund", fundnote aggressively bot the stock from March thru Apr 2025 and now owns 10%
Likely as a response to this development (and undercurrent engagement), the co announced strong capital return policy, hiking div for 5 consecutive yr + payout ratio of 50%< and DOE 4%<
at share price of 2092, div yield is 5.16%