Tassuk joins Real Estate ST Incubation Consortium

Tassuk Co., Ltd. (Head Office: Minato-ku, Tokyo; President and CEO: Koji Murata; hereinafter referred to as Tassuk), a group company of TASUKI HOLDINGS Inc. (Head Office: Minato-ku, Tokyo; President and CEO: Yu Kashiwamura), has joined the Real Estate ST Incubation Consortium (Secretariat: Progmat, Inc.; hereinafter referred to as Progmat) (hereinafter referred to as the Consortium). The company will explore the commercialization of Real Estate ST as one of the new real estate investment methods.

*Quoted from Progmat, Inc. press release.

For details on the overview and background of the Real Estate ST Incubation Consortium, please click here.

▼ "Regarding the Establishment of the Real Estate ST Incubation Consortium" Progmat, Inc. Press Release

https://progmat.co.jp/news/2026-06-30-press/

◆What is Real Estate ST (Security Token)?

Real Estate ST is a digital security that utilizes advanced technologies such as blockchain, backed by real estate assets, enabling investment in single or multiple properties in the form of securities. While direct real estate investment requires substantial capital and self-management, making it a high hurdle for individual investors, listed REITs, though more accessible, are susceptible to financial market fluctuations and make it difficult to measure the investment performance of individual properties. Real Estate ST combines security tokens with real estate investment, offering a new form of real estate investment not previously available.

According to the Sumitomo Mitsui Trust Research Institute, the real estate ST market had an asset size (based on the appraised value of underlying real estate) exceeding 700 billion yen as of the end of March 2026. Driven by the recent expansion of individual investors and the increase in wealthy individuals due to rising stock and real estate prices, the real estate ST market is expected to continue expanding.

(Reference) Sumitomo Mitsui Trust Research Institute "Are There Any Blind Spots in the Exit Strategies for Real Estate Security Token Funds?"

https://www.smtri.jp/report_column/report/pdf/report_20260415.pdf

◆Purpose of Participating in this Consortium

To date, Tassuk has been conducting PoCs for the social implementation of real estate RWA (ST) to create new growth opportunities and realize the next-generation financial ecosystem (expansion of the token economy). While real estate ST is expanding as a core area in the domestic ST market, the market has been formed primarily around large-scale projects. For small to medium-sized assets, which have been handled in traditional fractional real estate businesses, there are challenges in commercialization due to sales channels and structuring.

In recent years, there has been a growing trend for real estate developers themselves to have sales functions for securities, including real estate ST, but building a sales system and expanding sales volume independently presents a hurdle.

In this context, by leveraging the existing customer base cultivated in traditional fractionalization businesses by originators (real estate developers) for referrals and sales cooperation with intermediaries and sales companies, and by having multiple Type I Financial Instruments Business Operators collaborate on projects and joint sales, it is expected that the sales potential for large-scale projects that cannot be sold by individual companies will be expanded, making it easier to proceed with project formation.

Furthermore, the formation of Real Estate ST requires multiple functions such as property procurement, establishment of SPVs (e.g., trusts), reviews in legal, tax, and accounting fields, and ST platforms. This consortium includes not only real estate developers but also various companies with expertise in each phase required for Real Estate ST formation, such as intermediaries, sales companies, trust banks, trust companies, and project promotion support providers. Therefore, by enabling information sharing and access to specialized knowledge with each company, we believe we can further accelerate our exploration of the Real Estate ST business.

*Quoted from Progmat, Inc. press release.

◆ Target Participants for this Consortium

【Real Estate Developers】

Companies that have been involved in businesses such as fractional real estate products, real estate crowdfunding, and real estate securitization, and are interested in Real Estate ST, etc.

【Intermediaries and Sales Companies】

Type I Financial Instruments Business Operators with a track record of selling Real Estate ST, or those considering handling them in the future, and companies considering obtaining a Type I Financial Instruments Business Operator license for handling Real Estate ST.

【Trust Banks and Trust Companies】

Companies with a track record or intention to provide trust functions and fiduciary services related to Real Estate ST.

【Project Promotion Support Providers】

Law firms, tax accountant corporations, accounting firms, consulting firms, ST platform providers, etc.

Participating companies and organizations are listed in the Progmat, Inc. press release.

▼ "Regarding the Establishment of the Real Estate ST Incubation Consortium"

https://progmat.co.jp/news/2026-06-30-press/

◆ Consortium Secretariat

Real Estate ST Incubation Consortium (REC) Secretariat

Company Name: Progmat, Inc.

Representative: Tatsuya Saito, Founder & CEO

Contact Form: https://progmat.co.jp/contact/

◆ Company Overview of Tassuk Co., Ltd.

With the corporate philosophy of "Connecting the world with Tassuk," Tassuk Co., Ltd. operates in the real estate tech domain, focusing on the planning and development of new investment IoT residences. By transforming the real estate industry, which still retains analog business practices, with the power of technology, we aim to realize affluent lives as a "life platformer."

Company Name: Tassuk Co., Ltd.

Representative: Koji Murata, President and CEO

URL: https://tasukicorp.co.jp/

Head Office: Nissho Bldg. 2F, 2-7-9 Kita-Aoyama, Minato-ku, Tokyo

Established: August 12, 2013

Licenses, etc.: Real Estate Specified Joint Enterprise Permit No. Financial Services Agency Commissioner, Minister of Land, Infrastructure, Transport and Tourism No. 99

Real Estate Transaction Business / Minister of Land, Infrastructure, Transport and Tourism (2) No. 9357

Class 1 Architect Office / Tokyo Governor Registration No. 62332

Specified Construction Business / Tokyo Governor Permit (Tok-5) No. 149863

Investment Advisory and Agency Business, Type II Financial Instruments Business / Director of Kanto Local Finance Bureau (Kinsho) No. 3323

◆ Company Overview of TASUKI HOLDINGS Inc.

With the mission "Starting with people. Digitizing space. Creating mechanisms that change the future," TASUKI HOLDINGS Inc. was established on April 1, 2024, through the business integration of Tassuk Co., Ltd. and Shin Nippon Kensetsu Co., Ltd. By utilizing digital technology, we will provide value across industries in real estate value circulation and build the underlying platform.

Company Name: TASUKI HOLDINGS Inc.

Representative: Yu Kashiwamura, President and CEO

URL: https://tasuki-holdings.co.jp/

Head Office: Nissho Bldg. 7F, 2-7-9 Kita-Aoyama, Minato-ku, Tokyo

Established: April 1, 2024