Worth reading
56In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 April 2026 to 30 June 2026ConsolidatedJapanese GAAPNet Sales1,408,385million yenYear on year +9.0%Progress 23.9%
Operating profit130,644million yenYear on year +10.6%Progress 28.4%
Ordinary income123,000million yenYear on year +9.9%Progress 30.6%
Net income attributable to owners of the parent83,194million yenYear on year +9.1%Progress 31.3%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥134.33
Financial position at period-end
Total assets8,616,366million yen
of which net assets 3,002,624 million yenEquity ratio 33.8%vs. prior year-end -0.6pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Segment revenueDetached homes 269,258 million yen (YoY +14.3%), Rental Housing 386,648 million yen (YoY +10.7%), Condominiums 56,068 million yen (YoY -13.6%), Commercial facilities 315,416 million yen (YoY +9.1%), Business facilities 368,867 million yen (YoY +6.9%), Environmental Energy 32,044 million yen (YoY +14.6%)
Segment profitDetached homes 9,255 million yen (YoY +29.2%), Rental Housing 42,868 million yen (YoY +12.6%), Condominiums 1,878 million yen (YoY -46.5%), Commercial facilities 35,656 million yen (YoY +0.5%), Business facilities 54,402 million yen (YoY +13.5%), Environmental Energy 4,943 million yen (YoY +12.9%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales5,900,000 million yen (YoY +5.8%)
Operating profit460,000 million yen (YoY -25.2%)
Ordinary income402,000 million yen (YoY -29.7%)
Net income266,000 million yen (YoY -24.1%)
Revision to Earnings ForecastNot disclosed → Net Sales 5,900,000 million yen / Operating profit 460,000 million yen / Ordinary income 402,000 million yen / Net income 266,000 million yen
Annual Dividend Forecast¥175.00 (actual for the fiscal year ended March 2026) → ¥178.00 (forecast for the fiscal year ending March 2027 before taking the stock split into account)
Factors Behind Changes in Business Performance
Detached housing orders and net sales increased due to expanded sales of Smart Made Housing. and sales campaigns. Rental housing achieved growth in the number of units under management and a high occupancy rate. For condominiums, a decrease in the number of condominium units delivered led to lower sales and income. Commercial facilities recorded higher sales and income, driven by increases in ADR and RevPAR, among other factors. Business facilities benefited from increased orders related to data centers and logistics facilities, as well as property sales. Environmental energy secured earnings through bilateral procurement.
Disclosure regarding the going concern assumption
No applicable matters
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name None
Impairment loss3 million yen
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 273 million yen, Gain on sale of investment securities 3,369 million yen, Gain on sale of shares in an affiliated company 615 million yen / Extraordinary loss Loss on sale of fixed assets 170 million yen, Loss on Disposal of Fixed Assets 381 million yen, Impairment Losses 3 million yen, Loss on sale of investment securities 0 million yen, Impairment Loss on Investment Securities 51 million yen
Depreciation and amortization36,482 million yen
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End659,636,182
Treasury Shares at Period-End40,289,824
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 June 2026 |
| Net Sales | 1,408,385 million yen (YoY +9.0%) |
| Operating profit | 130,644 million yen (YoY +10.6%) |
| Ordinary income | 123,000 million yen (YoY +9.9%) |
| Profit attributable to owners of the parent | 83,194 million yen (YoY +9.1%) |
| Net income per share | ¥134.33 |
| Equity ratio | End of the current fiscal period 33.8 / End of previous period 34.4 |
| Total assets | 8,616,366 million yen |
| Net assets | 3,002,624 million yen |
| Full-year earnings forecast | Net Sales 5,900,000 million yen (YoY +5.8%) / Operating profit 460,000 million yen (YoY -25.2%) / Ordinary income 402,000 million yen (YoY -29.7%) / Net income 266,000 million yen (YoY -24.1%) |
| Revision to Earnings Forecast | Not disclosed → Net Sales 5,900,000 million yen / Operating profit 460,000 million yen / Ordinary income 402,000 million yen / Net income 266,000 million yen |
| Annual Dividend Forecast | ¥175.00 (actual for the fiscal year ended March 2026) → ¥178.00 (forecast for the fiscal year ending March 2027 before taking the stock split into account) |
| Segment revenue | Detached homes 269,258 million yen (YoY +14.3%), Rental Housing 386,648 million yen (YoY +10.7%), Condominiums 56,068 million yen (YoY -13.6%), Commercial facilities 315,416 million yen (YoY +9.1%), Business facilities 368,867 million yen (YoY +6.9%), Environmental Energy 32,044 million yen (YoY +14.6%) |
| Segment profit | Detached homes 9,255 million yen (YoY +29.2%), Rental Housing 42,868 million yen (YoY +12.6%), Condominiums 1,878 million yen (YoY -46.5%), Commercial facilities 35,656 million yen (YoY +0.5%), Business facilities 54,402 million yen (YoY +13.5%), Environmental Energy 4,943 million yen (YoY +12.9%) |
| Depreciation and amortization | 36,482 million yen |
| Impairment loss | 3 million yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 273 million yen, Gain on sale of investment securities 3,369 million yen, Gain on sale of shares in an affiliated company 615 million yen / Extraordinary loss Loss on sale of fixed assets 170 million yen, Loss on Disposal of Fixed Assets 381 million yen, Impairment Losses 3 million yen, Loss on sale of investment securities 0 million yen, Impairment Loss on Investment Securities 51 million yen |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name None |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 659,636,182 |
| Treasury Shares at Period-End | 40,289,824 |
| Factors Behind Changes in Business Performance | Detached housing orders and net sales increased due to expanded sales of Smart Made Housing. and sales campaigns. Rental housing achieved growth in the number of units under management and a high occupancy rate. For condominiums, a decrease in the number of condominium units delivered led to lower sales and income. Commercial facilities recorded higher sales and income, driven by increases in ADR and RevPAR, among other factors. Business facilities benefited from increased orders related to data centers and logistics facilities, as well as property sales. Environmental energy secured earnings through bilateral procurement. |
Items this document does not state (10)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogMaterial subsequent events
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.The company explained that it revised its full-year forecast based on first-quarter results. It also stated that the year-on-year comparison in the full-year forecast reflects the impact of a ¥115,675 million decrease in operating expenses resulting from the amortization of actuarial differences on retirement benefits and other items incurred in the previous fiscal year. The dividend figures take into account a 1-for-2 stock split with 30 September 2026 as the record date.
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