Founder Of Tokyo-Based Developer Open House Targets Smooth Succession

Nearly three decades after founding property firm Open House Group in 1997, Masaaki Arai stepped down as president and CEO when he turned 60 in October, handing charge to a company veteran. Explaining the reason for the change of guard in a company statement, Arai says, “While I still retain sufficient energy and strength…I will concentrate on supporting the management team and training the next generation of leaders.” The founder, who retains a board seat, built Open House from a real estate brokerage into a big-city residential housing developer. The Tokyo-based company reported record operating profit of almost ¥146 billion ($918 million) on sales of ¥1.34 trillion for the year through September 2025.

Soaring condominium prices, higher wages and an influx of people into urban areas drove sales of Open House’s lower-priced single-family homes, which account for half of revenue. Property sales in the U.S., a market it entered in 2010, rose by 25% on robust demand from affluent Japanese investors. The company estimates fiscal 2026 will be another record year with double-digit rises in both revenue and earnings. Shares of Open House jumped 38% in the past 12 months, boosting Arai’s net worth by $400 million to $2.4 billion.