Overview of the Medium-Term Management Plan (through 2030) (Supplementary Text) | Columbia Works Inc. (146A) timely disclosure

Worth reading

67In focus

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

200

¥100 million (operating profit target for the fiscal year ending December 2030)

Wording

Avoiding a definitive answer

How definitive the wording is.

Contents of this document

Medium-Term Management Plan PresentationFiscal year ending December 2030 (final year of the medium-term management plan)10 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Operating profit¥200 100 million

Gross Profit MarginAround 20% (planned to be maintained on a consolidated basis)

Operating profit margin13.7 % plan for the fiscal year ending December 2027

Full-year earnings forecast

Operating profit

¥76 100 million forecast for the fiscal year ending December 2026

EPS

544.28 Yen forecast for the fiscal year ending December 2026

Annual Dividend

94 Yen forecast for the fiscal year ending December 2026

Revenue for the fiscal year ending December 2027

¥700 100 million

Operating profit for the fiscal year ending December 2027

¥96 100 million

Net income for the fiscal year ending December 2027

¥50 100 million

EPS for the fiscal year ending December 2027

¥654.07

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

The company expects to achieve the ¥7.5 billion operating profit target under the previous medium-term management plan one fiscal year ahead of schedule

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Number of rate hikes in the fiscal year ending December 20262 in total
Size of rate hikeApproximately 0.5
Sensitivity to policy rate increases+0.25 %
Development periodMore than approximately 3
Turnaround period for value-add and fund-based projectsApproximately 1

New initiatives

Gradual shift to fund-based development using external capital
Expansion of recurring revenue from the real estate operating business
In-house development of an AI platform
Active consideration of M&A targeting operating businesses
Joint ventures with companies in other industries
Nationwide rollout of the NOCTIS hotel brand
Preparation for a transfer to the Prime Market

Key KPIsA metric the company considers important as a management benchmark.

ROEMore than 24%
Year on year against the same period last yearFY2025 actual: 23.5%
ROA10% or higher
Equity ratio20～30%
PBRMore than 2.0x
Year on year against the same period last year1.3x as of July 2026
AUMApproximately 4,000
Year on year against the same period last yearFour times the approximately ¥10 billion recorded in fiscal 2026
Number of rental units under management9,000 units
Year on year against the same period last yearMore than 2.5 times the approximately 3,500 units in fiscal 2026
Number of guest rooms800 Rooms
Year on year against the same period last yearApproximately 16 times the 49 rooms in fiscal 2026
Recurring operating profit¥3,200 million
Year on year against the same period last yearApproximately six times the ¥523 million in fiscal 2026

Medium-term management plan targets

EPS
Target fiscal yearFiscal year ending December 2030
Target value¥1,200
Operating profit
Target fiscal yearFiscal year ending December 2030
Target value¥20 billion
Recurring operating profit
Target fiscal yearFiscal year ending December 2030
Target value¥3.2 billion
ROE
Target fiscal yearFiscal year ending December 2030
Target valueMore than 24%
AUM
Target fiscal yearFiscal year ending December 2030
Target valueApproximately ¥400 billion
Number of rental units under management
Target fiscal yearFiscal year ending December 2030
Target value9,000 units
Number of guest rooms
Target fiscal yearFiscal year ending December 2030
Target value800 rooms

Financial targets

ROE
Target valueMore than 24%
Actual value23.5% in fiscal 2025
ROA
Target value10% or higher
PBR
Target valueMore than 2.0x
Actual value1.3x as of July 2026
Equity ratio
Target value20～30%

Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.

¥1.5 100 million/year

DetailsMechanical annual impact if the policy rate rises by 0.25% and the increase applies to all borrowings

Annual Dividend

Fiscal year ending December 2026¥94.0 (forecast)

FY2027.12¥98.1–130.8

Fiscal year ending December 2030¥180–240

Payout ratio

Approximately 15–20% (17.3% forecast for the fiscal year ending December 2026)

Acquisition of treasury shares

Number of shares acquired72,200 shares

PeriodJune–July 2026

Contents of this document
Item	Details
Document type	Medium-Term Management Plan Presentation
Fiscal Period Covered	Fiscal year ending December 2030 (final year of the medium-term management plan)
Operating profit	¥200 100 million
Gross Profit Margin	Around 20% (planned to be maintained on a consolidated basis)
Operating profit margin	13.7 % (plan for the fiscal year ending December 2027)
Full-year earnings forecast	Operating profit ¥76 100 million (forecast for the fiscal year ending December 2026) / EPS 544.28 Yen (forecast for the fiscal year ending December 2026) / Annual Dividend 94 Yen (forecast for the fiscal year ending December 2026) / Revenue for the fiscal year ending December 2027 ¥700 100 million / Operating profit for the fiscal year ending December 2027 ¥96 100 million / Net income for the fiscal year ending December 2027 ¥50 100 million / EPS for the fiscal year ending December 2027 ¥654.07
Self-assessment against the plan	The company expects to achieve the ¥7.5 billion operating profit target under the previous medium-term management plan one fiscal year ahead of schedule
Key KPIs	Indicator name ROE / Value More than 24% / Year on year against the same period last year FY2025 actual: 23.5%, Indicator name ROA / Value 10% or higher / Year on year against the same period last year Not disclosed, Indicator name Equity ratio / Value 20～30% / Year on year against the same period last year Not disclosed, Indicator name PBR / Value More than 2.0x / Year on year against the same period last year 1.3x as of July 2026, Indicator name AUM / Value Approximately 4,000 / Year on year against the same period last year Four times the approximately ¥10 billion recorded in fiscal 2026, Indicator name Number of rental units under management / Value 9,000 units / Year on year against the same period last year More than 2.5 times the approximately 3,500 units in fiscal 2026, Indicator name Number of guest rooms / Value 800 Rooms / Year on year against the same period last year Approximately 16 times the 49 rooms in fiscal 2026, Indicator name Recurring operating profit / Value ¥3,200 million / Year on year against the same period last year Approximately six times the ¥523 million in fiscal 2026
Assumptions Underlying the Business Outlook	Item Number of rate hikes in the fiscal year ending December 2026 / Value 2 in total, Item Size of rate hike / Value Approximately 0.5, Item Sensitivity to policy rate increases / Value +0.25 %, Item Development period / Value More than approximately 3, Item Turnaround period for value-add and fund-based projects / Value Approximately 1
Risk amount incorporated into the outlook	Amount ¥1.5 100 million/year / Details Mechanical annual impact if the policy rate rises by 0.25% and the increase applies to all borrowings
Medium-term management plan targets	Target fiscal year Fiscal year ending December 2030 / Item EPS / Target value ¥1,200, Target fiscal year Fiscal year ending December 2030 / Item Operating profit / Target value ¥20 billion, Target fiscal year Fiscal year ending December 2030 / Item Recurring operating profit / Target value ¥3.2 billion, Target fiscal year Fiscal year ending December 2030 / Item ROE / Target value More than 24%, Target fiscal year Fiscal year ending December 2030 / Item AUM / Target value Approximately ¥400 billion, Target fiscal year Fiscal year ending December 2030 / Item Number of rental units under management / Target value 9,000 units, Target fiscal year Fiscal year ending December 2030 / Item Number of guest rooms / Target value 800 rooms
Financial targets	Indicator ROE / Target value More than 24% / Actual value 23.5% in fiscal 2025, Indicator ROA / Target value 10% or higher / Actual value Not disclosed, Indicator PBR / Target value More than 2.0x / Actual value 1.3x as of July 2026, Indicator Equity ratio / Target value 20～30% / Actual value Not disclosed
Annual Dividend	Fiscal year ending December 2026 ¥94.0 (forecast) / FY2027.12 ¥98.1–130.8 / Fiscal year ending December 2030 ¥180–240
Payout ratio	Approximately 15–20% (17.3% forecast for the fiscal year ending December 2026)
Acquisition of treasury shares	Number of shares acquired 72,200 shares / Period June–July 2026 / Repurchase authorization amount Not disclosed
New initiatives	Gradual shift to fund-based development using external capital, Expansion of recurring revenue from the real estate operating business, In-house development of an AI platform, Active consideration of M&A targeting operating businesses, Joint ventures with companies in other industries, Nationwide rollout of the NOCTIS hotel brand, Preparation for a transfer to the Prime Market

Items this document does not state (15)

Net SalesOrdinary incomeNet incomeSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSegment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsNumber of employeesCapital 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.

Relying solely on in-house development makes the balance sheet heavier as the business grows, while raising capital dilutes per-share value. The company therefore plans to expand its development scale by using external capital and business partners. It also aims to build recurring revenue from its operating business, thereby reducing fluctuations in quarterly performance and improving capital efficiency and earnings reproducibility.

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