Worth reading
68In 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
1556
¥ million (amount by which net sales exceeded plan)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationThird quarter of the fiscal year ending May 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥31,497 million+53.5%
Operating profit¥181 million
Ordinary income¥90 million
Net income¥-11 million profit attributable to owners of the parent
Operating profit margin0.6%; year-on-year comparison not shown because of a change from an operating loss to operating income
Results for the three months of the current quarterThird-quarter standalone net sales of ¥11,204 million and operating income of ¥304 million
Full-year earnings forecastNet sales of ¥46,815 million, gross profit of ¥8,793 million, operating income of ¥1,500 million, ordinary income of ¥1,392 million, net income attributable to owners of the parent of ¥826 million, and 1,481 detached homes handed over
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Orders, net sales and profit have been slightly above plan. Results are progressing in line with the plan toward the full year.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating income: from the ¥511 million operating loss in the same period of the previous year to ¥181 million, reflecting an increase in gross profit of +¥2,125 million, an increase in personnel expenses of -¥719 million, an increase in advertising and sales promotion expenses of -¥350 million, a decrease in commissions paid of +¥99 million, an increase in rent of -¥83 million, an increase in goodwill amortization of -¥147 million, and an increase in other expenses of -¥232 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
For the fiscal year ending May 2027, the assumptions are the fulfillment of orders received in the fiscal year ending May 2026, gains on the sale of real estate inventory and other assets expected to be acquired from 札証物産, and higher expenses associated with an increase in new stores. Operating income is expected to grow by approximately 20%–30% from the results for the fiscal year ending May 2026.New initiatives
Opening of the ロゴスホーム Sapporo Nishi store, execution of a sponsorship agreement to support the civil rehabilitation of 札証物産, a change to the dividend policy, and introduction of a shareholder benefit program based on share ownershipKey KPIsA metric the company considers important as a management benchmark.
The Company uses the number of homes handed over, operating income and net income as its KPIs. Orders totaled 223 homes in March 2026, with cumulative orders through March up 51.5% year on year. The full-year forecast for detached homes handed over is 1,481 homes.Medium-term management plan targets
The Company aims to establish 50 locations through nationwide expansion. Target year: Not disclosedMarket Size / Share
Year-on-year change in owner-occupied homes handed over from June 2025 to February 2026: the Company +5.6%, nationwide -7.4%, Hokkaido and Tohoku -12.8%Orders received and order backlog
Orders: 223 homes in March 2026, with cumulative orders through March up 51.5% year on year. Order value and order backlog on a monetary basis: Not disclosedNumber of stores and locations
24 ロゴスホーム stores, 2 ハウジングカフェ stores, 2 豊栄建設 stores, 2 GALLERY HOUSE stores, and 8 坂井建設 stores plus offices. Existing stores were renovated in July and August 2025, a Yokkaichi store opened in October 2025, and a Sapporo Nishi store opened in February 2026. The opening of the Ogaki store was postponed from May 2026 to June 2026.Number of employees
694 employees across the Group as of the end of February 2026, including 98 at ロゴスホールディングスAnnual Dividend
Forecast annual dividend for the fiscal year ending May 2026: ¥63.39 per share. Interim and year-end breakdown: Not disclosedPayout ratio
Target payout ratio of 30%, with a DOE floor of 5%.Gross profit
¥5,688 million; gross margin 18.1%, up 0.7 percentage points year on year (from 17.4%)| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Third quarter of the fiscal year ending May 2026 |
| Net Sales | ¥31,497 million (YoY +53.5%) |
| Operating profit | ¥181 million |
| Ordinary income | ¥90 million |
| Net income | ¥-11 million (profit attributable to owners of the parent) |
| Gross profit | ¥5,688 million; gross margin 18.1%, up 0.7 percentage points year on year (from 17.4%) |
| Operating profit margin | 0.6%; year-on-year comparison not shown because of a change from an operating loss to operating income |
| Results for the three months of the current quarter | Third-quarter standalone net sales of ¥11,204 million and operating income of ¥304 million |
| Full-year earnings forecast | Net sales of ¥46,815 million, gross profit of ¥8,793 million, operating income of ¥1,500 million, ordinary income of ¥1,392 million, net income attributable to owners of the parent of ¥826 million, and 1,481 detached homes handed over |
| Self-assessment against the plan | Orders, net sales and profit have been slightly above plan. Results are progressing in line with the plan toward the full year. |
| Breakdown of Factors Affecting the Change | Operating income: from the ¥511 million operating loss in the same period of the previous year to ¥181 million, reflecting an increase in gross profit of +¥2,125 million, an increase in personnel expenses of -¥719 million, an increase in advertising and sales promotion expenses of -¥350 million, a decrease in commissions paid of +¥99 million, an increase in rent of -¥83 million, an increase in goodwill amortization of -¥147 million, and an increase in other expenses of -¥232 million |
| Key KPIs | The Company uses the number of homes handed over, operating income and net income as its KPIs. Orders totaled 223 homes in March 2026, with cumulative orders through March up 51.5% year on year. The full-year forecast for detached homes handed over is 1,481 homes. |
| Number of stores and locations | 24 ロゴスホーム stores, 2 ハウジングカフェ stores, 2 豊栄建設 stores, 2 GALLERY HOUSE stores, and 8 坂井建設 stores plus offices. Existing stores were renovated in July and August 2025, a Yokkaichi store opened in October 2025, and a Sapporo Nishi store opened in February 2026. The opening of the Ogaki store was postponed from May 2026 to June 2026. |
| Number of employees | 694 employees across the Group as of the end of February 2026, including 98 at ロゴスホールディングス |
| Assumptions Underlying the Business Outlook | For the fiscal year ending May 2027, the assumptions are the fulfillment of orders received in the fiscal year ending May 2026, gains on the sale of real estate inventory and other assets expected to be acquired from 札証物産, and higher expenses associated with an increase in new stores. Operating income is expected to grow by approximately 20%–30% from the results for the fiscal year ending May 2026. |
| Medium-term management plan targets | The Company aims to establish 50 locations through nationwide expansion. Target year: Not disclosed |
| Annual Dividend | Forecast annual dividend for the fiscal year ending May 2026: ¥63.39 per share. Interim and year-end breakdown: Not disclosed |
| Payout ratio | Target payout ratio of 30%, with a DOE floor of 5%. |
| Orders received and order backlog | Orders: 223 homes in March 2026, with cumulative orders through March up 51.5% year on year. Order value and order backlog on a monetary basis: Not disclosed |
| Market Size / Share | Year-on-year change in owner-occupied homes handed over from June 2025 to February 2026: the Company +5.6%, nationwide -7.4%, Hokkaido and Tohoku -12.8% |
| New initiatives | Opening of the ロゴスホーム Sapporo Nishi store, execution of a sponsorship agreement to support the civil rehabilitation of 札証物産, a change to the dividend policy, and introduction of a shareholder benefit program based on share ownership |
Items this document does not state (9)
Selling, general and administrative expensesProgress against full-year forecastSegment resultsUnit price and quantity metricsRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesCapital expendituresKey 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.Orders and handovers remained strong. The full-year forecast was left unchanged because results are expected to be concentrated in the fourth quarter. While gross profit increased, personnel expenses, advertising and sales promotion expenses, rent, goodwill amortization and other expenses also increased, affecting operating income.
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