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58In focus
Scored from 5 of 6 sectionsDirection
Neutral
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
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How definitive the wording is.Contents of this document
Medium-Term Management Plan Presentation8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales43,194 JPY millions fiscal year ended May 2025 actual
Operating profit2,579 JPY millions fiscal year ended May 2025 actual
Ordinary income2,478 JPY millions fiscal year ended May 2025 actual
Net income1,669 JPY millions fiscal year ended May 2025 actual; net income attributable to owners of the parent
Gross Profit Margin
Rate9.7% (fiscal year ended May 2025 actual), 11.5% (fiscal year ending May 2026 plan), 12.0% (plans for the fiscal years ending May 2027 and May 2028)
Operating profit margin
Rate6.0% (fiscal year ended May 2025 actual), 7.0% (plans for the fiscal years ending May 2026 through May 2028)
Full-year earnings forecast
Fiscal year ending May 2026
Net Sales
¥40,000 million
Gross profit
¥4,600 million
Operating profit
¥2,800 million
Ordinary income
¥2,530 million
Profit attributable to owners of the parent
¥1,750 million
Fiscal year ending May 2027
Net Sales
¥44,000 million
Gross profit
¥5,280 million
Operating profit
¥3,080 million
Ordinary income
¥2,800 million
Profit attributable to owners of the parent
¥2,000 million
Fiscal year ending May 2028
Net Sales
¥50,000 million
Gross profit
¥6,000 million
Operating profit
¥3,500 million
Ordinary income
¥3,200 million
Profit attributable to owners of the parent
¥2,300 million
What the company explained in this material
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The outlook is based on changes in economic conditions in key markets, real estate and condominium market conditions, labor supply and demand, construction material prices, interest rates and other factors, but numerical values are Not disclosedNew initiatives
- Securing personnel by hiring approximately 20 people annually
- Developing a digital transformation platform
- Improving operational efficiency through personnel development
- Thoroughly passing through price increases
- Establishing a self-originated order generation model and project selection criteria
Key KPIsA metric the company considers important as a management benchmark.
- Orders received26,629 (fiscal year ended May 2025)
- Order backlog at period-end35,760 (fiscal year ended May 2025)
- Completed construction revenue per employee221 (fiscal year ending May 2026 plan)
- Completed construction revenue per project manager-level employee858 (fiscal year ending May 2026 plan)
- Gross margin on completed construction11.0% (fiscal year ending May 2026 plan)
Medium-term management plan targets
First VISION 2031
Target fiscal yearFiscal year ending May 2031
Target valueRevenue of ¥100 billion and an operating margin of at least 8%
Phase 1
Target fiscal yearFiscal year ending May 2028
Target valueRevenue of JPY 50 billion and operating income of JPY 3.5 billion
Financial targets
ROEMaintain ROE of 15% or more on a stable basis
PBRAim for a PBR of 1.5x or more
Cost of capital6%
Orders received and order backlog
Orders received
Fiscal year ended May 2022JPY 11,503 million
Fiscal year ended May 2023JPY 35,508 million
Fiscal year ended May 2024JPY 20,882 million
Fiscal year ending May 2025JPY 26,629 million
As of the third quarter of the fiscal year ending May 2026JPY 15,513 million as of the third quarter of the fiscal year ending May 2026
Order backlog at period-end
Fiscal year ended May 2022JPY 21,489 million
Fiscal year ended May 2023JPY 36,678 million
Fiscal year ended May 2024JPY 34,460 million
Fiscal year ending May 2025JPY 35,760 million
Number of employees
Number of Employees180 on a consolidated basis and 161 on a non-consolidated basis (as of the end of May 2025)
Changes during the period and hiring planHiring approximately 20 people annually; increasing construction personnel from 101 to approximately 120 and project manager-level personnel from 26 to 30
Payout ratio
A minimum payout ratio of 30%, with 40% being considered as one benchmark toward 2031| Item | Details |
|---|---|
| Document type | Medium-Term Management Plan Presentation |
| Net Sales | 43,194 JPY millions (fiscal year ended May 2025 actual) |
| Operating profit | 2,579 JPY millions (fiscal year ended May 2025 actual) |
| Ordinary income | 2,478 JPY millions (fiscal year ended May 2025 actual) |
| Net income | 1,669 JPY millions (fiscal year ended May 2025 actual; net income attributable to owners of the parent) |
| Gross Profit Margin | Rate 9.7% (fiscal year ended May 2025 actual), 11.5% (fiscal year ending May 2026 plan), 12.0% (plans for the fiscal years ending May 2027 and May 2028) / Year-on-year change (points) Not disclosed |
| Operating profit margin | Rate 6.0% (fiscal year ended May 2025 actual), 7.0% (plans for the fiscal years ending May 2026 through May 2028) / Year-on-year change (points) Not disclosed |
| Full-year earnings forecast | Fiscal year ending May 2026 Net Sales ¥40,000 million / Gross profit ¥4,600 million / Operating profit ¥2,800 million / Ordinary income ¥2,530 million / Profit attributable to owners of the parent ¥1,750 million / Fiscal year ending May 2027 Net Sales ¥44,000 million / Gross profit ¥5,280 million / Operating profit ¥3,080 million / Ordinary income ¥2,800 million / Profit attributable to owners of the parent ¥2,000 million / Fiscal year ending May 2028 Net Sales ¥50,000 million / Gross profit ¥6,000 million / Operating profit ¥3,500 million / Ordinary income ¥3,200 million / Profit attributable to owners of the parent ¥2,300 million |
| Key KPIs | Indicator name Orders received / Value 26,629 (fiscal year ended May 2025) / Year on year against the same period last year Not disclosed, Indicator name Order backlog at period-end / Value 35,760 (fiscal year ended May 2025) / Year on year against the same period last year Not disclosed, Indicator name Completed construction revenue per employee / Value 221 (fiscal year ending May 2026 plan) / Year on year against the same period last year Not disclosed, Indicator name Completed construction revenue per project manager-level employee / Value 858 (fiscal year ending May 2026 plan) / Year on year against the same period last year Not disclosed, Indicator name Gross margin on completed construction / Value 11.0% (fiscal year ending May 2026 plan) / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 180 on a consolidated basis and 161 on a non-consolidated basis (as of the end of May 2025) / Changes during the period and hiring plan Hiring approximately 20 people annually; increasing construction personnel from 101 to approximately 120 and project manager-level personnel from 26 to 30 |
| Assumptions Underlying the Business Outlook | The outlook is based on changes in economic conditions in key markets, real estate and condominium market conditions, labor supply and demand, construction material prices, interest rates and other factors, but numerical values are Not disclosed |
| Medium-term management plan targets | First VISION 2031 Target fiscal year Fiscal year ending May 2031 / Target value Revenue of ¥100 billion and an operating margin of at least 8% / Phase 1 Target fiscal year Fiscal year ending May 2028 / Target value Revenue of JPY 50 billion and operating income of JPY 3.5 billion |
| Financial targets | ROE Maintain ROE of 15% or more on a stable basis / PBR Aim for a PBR of 1.5x or more / Cost of capital 6% |
| Payout ratio | A minimum payout ratio of 30%, with 40% being considered as one benchmark toward 2031 |
| Orders received and order backlog | Orders received Fiscal year ended May 2022 JPY 11,503 million / Fiscal year ended May 2023 JPY 35,508 million / Fiscal year ended May 2024 JPY 20,882 million / Fiscal year ending May 2025 JPY 26,629 million / As of the third quarter of the fiscal year ending May 2026 JPY 15,513 million as of the third quarter of the fiscal year ending May 2026 / Order backlog at period-end Fiscal year ended May 2022 JPY 21,489 million / Fiscal year ended May 2023 JPY 36,678 million / Fiscal year ended May 2024 JPY 34,460 million / Fiscal year ending May 2025 JPY 35,760 million |
| New initiatives | Securing personnel by hiring approximately 20 people annually, Developing a digital transformation platform, Improving operational efficiency through personnel development, Thoroughly passing through price increases, Establishing a self-originated order generation model and project selection criteria |
Items this document does not state (15)
Fiscal Period CoveredSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planSegment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAnnual DividendAcquisition of treasury sharesCapital expendituresMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To enable investors to better understand the content of the disclosure made in May 2024, “Initiatives to Achieve Management with an Awareness of the Cost of Capital and Share Price.” The objective is to systematically organize the relationship between the business model, growth strategy and capital efficiency.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.