Exhibit 21.1

LEAD REAL ESTATE CO., LTD

Subsidiaries of the Registrant

Subsidiaries	Place of Incorporation
Lead Real Estate HK Co. Limited	Hong Kong
Lead Real Estate Global Co., Ltd.	Texas
Real Vision Co., Ltd.	Japan
Sojiya Japan Co., Ltd.	Japan

Variable Interest Entities	Place of Incorporation
JP Shuhan Co., Ltd.	Japan
Lead Real Estate Cayman Limited	Cayman Islands