Worth reading
51Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-472
¥ millionWording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Presentation materials for financial resultsThird quarter of the fiscal year ending July 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥3,903 million-30.2%
Operating profit¥258 million-64.6%
Ordinary income¥256 million-64.9%
Net income¥179 million-65.2%
Gross Profit Margin19.1 %
Full-year earnings forecast
Net Sales
¥6,000 million
Operating profit
¥480 million
Ordinary income
¥470 million
Net income for the current fiscal year
¥320 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Decrease in construction revenue
- Decrease in cost of construction revenue from completed projects
- Increase in real estate business revenue
- Increase in cost of real estate revenue
- Decrease in selling, general and administrative expenses
- Year-on-year decrease in operating profit¥-472 million
New initiatives
- New acquisitions of rental properties
- Establishment of locations in Fukuoka and Okayama prefectures
- Expansion of hiring in the construction division
- Expansion of information-gathering channels through business alliances with local real estate companies
- Development of Kados Town
Key KPIsA metric the company considers important as a management benchmark.
- Equity ratio53.8 %Year on year against the same period last yearDown 2.0 percentage points from the previous fiscal year-end
- Construction business order backlogApproximately 2x the previous fiscal year's third-quarter-end levelYear on year against the same period last yearApproximately double
- Number of completed projects12 EngagementsYear on year against the same period last yearDecreased
- Number of Kados Town development projects3 Engagements
- Percentage of stores operated by national chains79.9 %
Segment results
Construction
Net Sales
¥2,953 million
Year-on-year change in revenue-36.6
Real Estate Business
Net Sales
¥950 million
Year-on-year change in revenue1.8
Financial targets
ROEMaintain at least 10%
Actual results15.6%
Orders received and order backlog
Order backlogApproximately 2x the previous fiscal year's third-quarter-end level
Number of employees
Number of Employees96 People
Record date30 April 2026
Hiring planIncrease hiring in the construction division
Capital expenditures
Over ¥700 million
Annual Dividend
Annual dividend per share¥180
End of period¥180
Payout ratio
56.6 %
Guideline30%
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Third quarter of the fiscal year ending July 2026 |
| Net Sales | ¥3,903 million (YoY -30.2%) |
| Operating profit | ¥258 million (YoY -64.6%) |
| Ordinary income | ¥256 million (YoY -64.9%) |
| Net income | ¥179 million (YoY -65.2%) |
| Gross Profit Margin | 19.1 % |
| Full-year earnings forecast | Net Sales ¥6,000 million / Operating profit ¥480 million / Ordinary income ¥470 million / Net income for the current fiscal year ¥320 million |
| Segment results | Construction Net Sales ¥2,953 million / Year-on-year change in revenue -36.6 / Profit Not disclosed / Real Estate Business Net Sales ¥950 million / Year-on-year change in revenue 1.8 / Profit Not disclosed |
| Breakdown of Factors Affecting the Change | Factors Decrease in construction revenue / Amount Not disclosed, Factors Decrease in cost of construction revenue from completed projects / Amount Not disclosed, Factors Increase in real estate business revenue / Amount Not disclosed, Factors Increase in cost of real estate revenue / Amount Not disclosed, Factors Decrease in selling, general and administrative expenses / Amount Not disclosed, Factors Year-on-year decrease in operating profit / Amount ¥-472 million |
| Key KPIs | Indicator name Equity ratio / Value 53.8 % / Year on year against the same period last year Down 2.0 percentage points from the previous fiscal year-end, Indicator name Construction business order backlog / Value Approximately 2x the previous fiscal year's third-quarter-end level / Year on year against the same period last year Approximately double, Indicator name Number of completed projects / Value 12 Engagements / Year on year against the same period last year Decreased, Indicator name Number of Kados Town development projects / Value 3 Engagements / Year on year against the same period last year Not disclosed, Indicator name Percentage of stores operated by national chains / Value 79.9 % / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 96 People / Record date 30 April 2026 / Change during the period Not disclosed / Hiring plan Increase hiring in the construction division |
| Financial targets | ROE Maintain at least 10% / Actual results 15.6% |
| Annual Dividend | Annual dividend per share ¥180 / Interim Not disclosed / End of period ¥180 |
| Payout ratio | 56.6 % |
| Capital expenditures | Over ¥700 million |
| Orders received and order backlog | Order backlog Approximately 2x the previous fiscal year's third-quarter-end level / Orders received Not disclosed |
| New initiatives | New acquisitions of rental properties, Establishment of locations in Fukuoka and Okayama prefectures, Expansion of hiring in the construction division, Expansion of information-gathering channels through business alliances with local real estate companies, Development of Kados Town |
Items this document does not state (13)
Operating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesMarket 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 in the construction business declined due to the lower order backlog at the beginning of the fiscal year and changes in the start dates of some projects. In the real estate business, one-time costs associated with new real estate acquisitions increased, resulting in a lower gross profit margin. The company worked to reduce fixed costs and set appropriate contract prices, but these efforts did not offset the decline in revenue.
How to read this page
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