Nihon Shintatsu is a small Hokkaido-based real estate company that acquires, improves, and resells properties in Japan's tourist resort markets, primarily targeting Niseko, Furano, and Otaru. The company's core business is a buy-improve-sell model: it identifies underpriced properties, acquires them using a mix of bank debt and working capital, makes targeted improvements, and resells at a higher price. Beyond direct property sales, Nihon Shintatsu earns brokerage commissions by facilitating transactions between third-party buyers and sellers, consulting fees by advising landowners and investors on development strategy and feasibility, and smaller amounts from rental income and renovation services. As of April 30, 2025, the company owned 19 properties and had 14 employees. Customers are primarily foreign investors and high-net-worth individuals seeking vacation or investment properties, as well as domestic buyers. The company relies on third-party contractors for construction work, keeping its model relatively asset-light compared to large developers, though this exposes it to contractor availability and permitting risks. Revenue is lumpy given the small number of property transactions per year. Two major development projects are in planning: a mixed-use resort near Furano's ski slopes and a mid-rise condominium in Otaru's tourist district. Nihon Shintatsu is pursuing a U.S. Nasdaq listing primarily to raise capital and expand its land bank across Hokkaido's three core tourism markets.