Worth reading
92Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
156.9
% (year-on-year increase in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsSecond quarter of the fiscal year ending December 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19,946 million+105.3%
Operating profit¥3,276 million+156.9%
Net income¥1,966 million+183.8%
Gross Profit Margin24.1 %
Operating profit margin16.4 %
Selling, general and administrative expensesAmount not stated+20.3%
Results for the three months of the current quarterGross margin for the second quarter alone was 23.7%. Revenue at コロンビア・コミュニティ社 declined from the first quarter during its second-quarter accounting period. Other financial figures for the three-month period alone were not disclosed.
Full-year earnings forecast
Net Sales
¥55,400 million
Operating profit
¥7,600 million
Dividends
¥94 per share
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales36 %
Operating profit43 %
Standalone AM revenue46 %
サンクス沖縄 standalone revenue20.7 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Both the real estate development business and the real estate operations business progressed smoothly in the first half, substantially exceeding planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Timing shifts in revenue recognition¥400 million
- Improved profitability of properties sold¥300 million
- Thanks Okinawa ahead of plan¥50 million
- Real estate operations business ahead of plan¥150 million
- Underspending on SG&A expenses¥300 million
- Upside in gross profit from the real estate development business¥723 million
- Thanks Okinawa ahead of plan¥54 million
- Upside in gross profit from the real estate operations business¥147 million
- Selling, general and administrative expenses below budget¥316 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- 2 timesAssumptionsNumber of rate hikes in the fiscal year ending December 2026
- 0.5 Approximately %AssumptionsSize of rate hike
- 0.25 %AssumptionsRemaining interest-rate hike
- 0.5 Approximately %AssumptionsIncrease in yields accompanying higher interest rates
New initiatives
- Expand into the renovation construction market in the rental property management business after obtaining a construction business licence
- Bring restoration, repair and value-enhancement work in-house
- Rebrand Akihabara Hotel as NOCTIS Akihabara-Suehirocho
- Acquire 3 in-house value-enhancement properties
Key KPIsA metric the company considers important as a management benchmark.
- AUM¥68,400 million
- Units under management3,357 units
- Number of sales9 Engagements
- Project Pricing¥1,995 million
- Real estate development project ratio89.2 %
- Share of gross profit from recurring assets26.8 %
- Inventories592 Hundreds of millions of yen
- Assets Under Management1,276 Hundreds of millions of yen
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of sales
9 Engagements
Project Pricing
¥1,995 million
Units under management
3,357 units
Properties under external management contracts
1,505 units
Segment results
- Real estate developmentYear on year against the same period last year+110.5%
- Real estate operations businessYear on year against the same period last year+56.6%
- Asset management business (consolidated)Year on year against the same period last year+640.6%
- Asset management business (standalone AM revenue)Sales322Year on year against the same period last year+600.0%
- Rental property management business (standalone)Year on year against the same period last year+73.7%
- Hotel operations business (standalone)Year on year against the same period last year-21.9%
- サンクス沖縄 (standalone)Sales538Year on year against the same period last year+78.3%
Medium-term management plan targets
The materials state that the medium-term management plan disclosed on 12 August 2026 (through 2030) is to be used as a reference. Detailed target figures were not disclosed. The renovation construction business targets revenue of ¥5 billion within 10 years.Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥150 million / year
DetailsImpact if an additional 0.25% rate hike beyond assumptions were applied to all borrowings
Annual Dividend
¥94 per share
Payout ratio
15–20% (policy), 17.3% (forecast for the fiscal year ending December 2026)
Acquisition of treasury shares
Number of Shares72,200 Shares
PeriodJune–July 2026
Percentage of total issued shares0.94 Shares
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥19,946 million (YoY +105.3%) |
| Operating profit | ¥3,276 million (YoY +156.9%) |
| Net income | ¥1,966 million (YoY +183.8%) |
| Gross Profit Margin | 24.1 % |
| Operating profit margin | 16.4 % |
| Selling, general and administrative expenses | 非開示 (YoY +20.3%) |
| Results for the three months of the current quarter | Gross margin for the second quarter alone was 23.7%. Revenue at コロンビア・コミュニティ社 declined from the first quarter during its second-quarter accounting period. Other financial figures for the three-month period alone were not disclosed. |
| Full-year earnings forecast | Net Sales ¥55,400 million / Operating profit ¥7,600 million / Dividends ¥94 per share / Other Not disclosed |
| Progress against full-year forecast | Net Sales 36 % / Operating profit 43 % / Standalone AM revenue 46 % / サンクス沖縄 standalone revenue 20.7 % |
| Self-assessment against the plan | Both the real estate development business and the real estate operations business progressed smoothly in the first half, substantially exceeding plan |
| Segment results | Segment Real estate development / Sales Not disclosed / Year on year against the same period last year 110.5 %, Segment Real estate operations business / Sales Not disclosed / Year on year against the same period last year 56.6 %, Segment Asset management business (consolidated) / Sales Not disclosed / Year on year against the same period last year 640.6 %, Segment Asset management business (standalone AM revenue) / Sales ¥322 million / Year on year against the same period last year ¥600 million, Segment Rental property management business (standalone) / Sales Not disclosed / Year on year against the same period last year 73.7 %, Segment Hotel operations business (standalone) / Sales Not disclosed / Year on year against the same period last year -21.9 %, Segment サンクス沖縄 (standalone) / Sales ¥538 million / Year on year against the same period last year ¥78.3 million |
| Breakdown of Factors Affecting the Change | Factors Timing shifts in revenue recognition / Amount ¥400 million, Factors Improved profitability of properties sold / Amount ¥300 million, Factors Thanks Okinawa ahead of plan / Amount ¥50 million, Factors Real estate operations business ahead of plan / Amount ¥150 million, Factors Underspending on SG&A expenses / Amount ¥300 million, Factors Upside in gross profit from the real estate development business / Amount ¥723 million, Factors Thanks Okinawa ahead of plan / Amount ¥54 million, Factors Upside in gross profit from the real estate operations business / Amount ¥147 million, Factors Selling, general and administrative expenses below budget / Amount ¥316 million |
| Key KPIs | Indicator AUM / Value ¥68,400 million / Year on year against the same period last year Not disclosed, Indicator Units under management / Value 3,357 units / Year on year against the same period last year Not disclosed, Indicator Number of sales / Value 9 Engagements / Year on year against the same period last year Not disclosed, Indicator Project Pricing / Value ¥1,995 million / Year on year against the same period last year Not disclosed, Indicator Real estate development project ratio / Value 89.2 % / Year on year against the same period last year Not disclosed, Indicator Share of gross profit from recurring assets / Value 26.8 % / Year on year against the same period last year Not disclosed, Indicator Inventories / Value 592 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator Assets Under Management / Value 1,276 Hundreds of millions of yen / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Number of sales 9 Engagements / Project Pricing ¥1,995 million / Units under management 3,357 units / Properties under external management contracts 1,505 units |
| Assumptions Underlying the Business Outlook | Assumptions Number of rate hikes in the fiscal year ending December 2026 / Value 2 times, Assumptions Size of rate hike / Value 0.5 Approximately %, Assumptions Remaining interest-rate hike / Value 0.25 %, Assumptions Increase in yields accompanying higher interest rates / Value 0.5 Approximately % |
| Risk amount incorporated into the outlook | Amount ¥150 million / year / Details Impact if an additional 0.25% rate hike beyond assumptions were applied to all borrowings |
| Medium-term management plan targets | The materials state that the medium-term management plan disclosed on 12 August 2026 (through 2030) is to be used as a reference. Detailed target figures were not disclosed. The renovation construction business targets revenue of ¥5 billion within 10 years. |
| Annual Dividend | ¥94 per share |
| Payout ratio | 15–20% (policy), 17.3% (forecast for the fiscal year ending December 2026) |
| Acquisition of treasury shares | Number of Shares 72,200 Shares / Period June–July 2026 / Percentage of total issued shares 0.94 Shares |
| New initiatives | Expand into the renovation construction market in the rental property management business after obtaining a construction business licence, Bring restoration, repair and value-enhancement work in-house, Rebrand Akihabara Hotel as NOCTIS Akihabara-Suehirocho, Acquire 3 in-house value-enhancement properties |
Items this document does not state (8)
Ordinary incomeNumber of stores and locationsNumber of employeesFinancial targetsCapital expendituresOrders received and order backlogMarket 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.Primarily due to the sale of real estate development properties, increases in the number of properties sold and per-project prices in the real estate development business, expansion of development scale and external management contracts in the real estate operations business, improved profitability of properties sold, performance above plan at サンクス沖縄 and in the real estate operations business, and unspent selling, general and administrative expenses.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.