Worth reading
74In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
925
¥ million (versus sales forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFirst quarter of the fiscal year ending May 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥6,058 million-16.1%
Operating profit¥-1,019 million
Ordinary income¥-1,063 million
Net income¥-730 million
Gross Profit Margin17.2
Operating profit margin-16.8
Full-year earnings forecast
Net Sales
¥54,273 million
Gross profit
¥10,921 million
Operating profit
¥2,113 million
Ordinary income
¥1,882 million
Net income
¥1,160 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Finished above planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- 坂井建設 consolidation adjustment11
- Increase in gross profit19
- Increase in personnel expenses-114
- Increase in advertising and promotional expenses-65
- Increase in commissions paid-24
- Decrease in land and rent expenses0
- Increase in other expenses-134
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Construction period allowing for handover10.5–11 months’ worth
- Restrictions on construction start monthsThrough February
- Expected decline in revenueApproximately 1–1.5 months’ worth
New initiatives
- Sale of real estate held for sale acquired from 札証物産
- Transfer of アエラホーム’s custom-built housing business
- Correction of seasonality through a review of construction periods and construction start schedules
- Opening of new stores, including 大垣, 湘南平塚 and 岡崎
- Renovation of stores, including 登別 and 室蘭
- Shareholder returns policy setting DOE of 5% as the floor and a 30% payout ratio as the target
- Introduction of a multi-tiered, share-based shareholder benefit program
Key KPIsA metric the company considers important as a management benchmark.
- Year-on-year change in number of homes ordered9.5 %
- Number of detached homes delivered (full-year forecast)1,608 buildings
Medium-term management plan targets
Target50 locations
Target fiscal year2,030
Number of stores and locations
Store openings during the periodOpening of a new 大垣 store and renovation of the 登別 and 室蘭 stores
Number of employees
Number of Employees725 people
Reference dateEnd of May 2026
Annual Dividend
Annual dividend per share¥88.75
Payout ratio
Rate30 %
DOE5 %
DOE unit%
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending May 2027 |
| Net Sales | ¥6,058 million (YoY -16.1%) |
| Operating profit | ¥-1,019 million |
| Ordinary income | ¥-1,063 million |
| Net income | ¥-730 million |
| Gross Profit Margin | 17.2 |
| Operating profit margin | -16.8 |
| Full-year earnings forecast | Net Sales ¥54,273 million / Gross profit ¥10,921 million / Operating profit ¥2,113 million / Ordinary income ¥1,882 million / Net income ¥1,160 million |
| Self-assessment against the plan | Finished above plan |
| Breakdown of Factors Affecting the Change | Factors 坂井建設 consolidation adjustment / Amount 11, Factors Increase in gross profit / Amount 19, Factors Increase in personnel expenses / Amount -114, Factors Increase in advertising and promotional expenses / Amount -65, Factors Increase in commissions paid / Amount -24, Factors Decrease in land and rent expenses / Amount 0, Factors Increase in other expenses / Amount -134 |
| Key KPIs | Indicator name Year-on-year change in number of homes ordered / Value 9.5 % / Year on year against the same period last year Not disclosed, Indicator name Number of detached homes delivered (full-year forecast) / Value 1,608 buildings / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Number at period-end Not disclosed / Store openings during the period Opening of a new 大垣 store and renovation of the 登別 and 室蘭 stores / Store closures during the period Not disclosed |
| Number of employees | Number of Employees 725 people / Reference date End of May 2026 / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Item Construction period allowing for handover / Value 10.5–11 months’ worth, Item Restrictions on construction start months / Value Through February, Item Expected decline in revenue / Value Approximately 1–1.5 months’ worth |
| Medium-term management plan targets | Target 50 locations / Target fiscal year 2,030 |
| Annual Dividend | Annual dividend per share ¥88.75 / Interim Not disclosed / End of period Not disclosed |
| Payout ratio | Rate 30 % / DOE 5 % / DOE unit % |
| New initiatives | Sale of real estate held for sale acquired from 札証物産, Transfer of アエラホーム’s custom-built housing business, Correction of seasonality through a review of construction periods and construction start schedules, Opening of new stores, including 大垣, 湘南平塚 and 岡崎, Renovation of stores, including 登別 and 室蘭, Shareholder returns policy setting DOE of 5% as the floor and a 30% payout ratio as the target, Introduction of a multi-tiered, share-based shareholder benefit program |
Items this document does not state (12)
Selling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSegment resultsUnit price and quantity metricsRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesCapital 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.Revenue exceeded the forecast and the operating loss was narrower in the first quarter. For the full year, the company cited the addition of sales from the sale of real estate held for sale acquired from 札証物産, as well as measures to correct excessive seasonality.
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.