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Presentation materials for financial results2337Ichigo Inc.Real Estate

Financial Results Presentation for the Second Quarter (Interim Period) of the Fiscal Year Ending February 2027

For the first half of the fiscal year ending February 2027, business profit increased 3% year on year, while operating profit declined 6% and net profit declined 2%. For the full year, the company forecasts business profit of ¥34 billion and net profit of ¥18 billion, and has also decided to repurchase up to ¥5 billion of its own shares and cancel treasury shares.

Worth reading
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
3
Year-on-year change in business profit (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsSecond quarter (interim period) of the fiscal year ending February 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Operating profit¥10,621 million-6.0%
Ordinary income¥8,952 million-1.0%
Net income¥8,462 million-2.0%
Selling, general and administrative expensesDisclosed by segment. Consolidated total: Not disclosed
Full-year earnings forecast
Operating profit
¥20,600 million
Ordinary income
¥14,900 million
Net income
¥18,000 million
Business profit
¥34,000 million
Cash net income
¥24,000 million
EPS
¥45.13
Cash EPS
¥60.17
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。Ichigo Owners acquisitions were approximately 76% of the full-year target of ¥58 billion. Progress rates for other consolidated items: Not disclosed
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Exceeded the plan for cumulative 2Q results and is progressing smoothly toward the full-year forecast
New initiatives
  • ¥5 billion share repurchase
  • Cancellation of 14 million treasury shares held and shares newly acquired
  • Expand the conversion of Ichigo Hongo Village into setup offices to 5 floors and 15 units during the current fiscal year
  • Diversification of the renewable energy business, including grid-scale batteries and community-based green biomass projects
Key KPIsA metric the company considers important as a management benchmark.
  • Recurring revenue125 Hundreds of millions of yen
    Year-on-year (%)-2
  • Non-recurring revenue100 Hundreds of millions of yen
    Year-on-year (%)8
  • Cash earnings226 Hundreds of millions of yen
    Year-on-year (%)2
  • Fixed-cost coverage ratio of recurring income196 %
  • Long-term debt ratio91 %
  • Weighted average interest rate1.69 %
  • ROE15 %
  • Cash ROE20 %
  • DOE5.1 %
  • AUM3,574 Hundreds of millions of yen
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Tradepia Odaiba occupancy rate92% in the same period of the previous year, 99% in the current period
  • RevPAR¥12,102
    Year on year against the same period last year-12.0%
  • Room revenue from owned hotelsUp 16% year on year
  • Setup office rental revenue1.8–2.1x the previous level
Segment results
Asset Management
Business profit
¥1,713 million
Year on year against the same period last year+66.0%
Shinchiku
Business profit
¥7,115 million
Year on year against the same period last year+38.0%
Hotels
Business profit
¥2,250 million
Year on year against the same period last year-57.0%
Ichigo Owners
Business profit
¥3,463 million
Year on year against the same period last year+39.0%
Clean Energy
Business profit
¥1,006 million
Year on year against the same period last year-17.0%
Medium-term management plan targets
Long-term VISION “Ichigo 2030”ROE of at least 15%, cash ROE of at least 18%, a stock earnings ratio of at least 60%, a stock earnings fixed-cost coverage ratio of at least 200%, and DOE of at least 5%, among other targets. No target year specified.
Financial targets
ROE
Target15% or higher
Actual and forecast15.0%
Cash ROE
Target18% or more
Actual and forecast20.0%
DOE
Target5% or more
Actual and forecast5.1%
Annual Dividend
Annual dividend amount¥15.5
Acquisition of treasury shares
Buyback limit¥5 billion, with a limit of 15 million shares
Period15 October 2026–30 April 2027
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredSecond quarter (interim period) of the fiscal year ending February 2027
Operating profit¥10,621 million (YoY -6.0%)
Ordinary income¥8,952 million (YoY -1.0%)
Net income¥8,462 million (YoY -2.0%)
Selling, general and administrative expensesDisclosed by segment. Consolidated total: Not disclosed
Full-year earnings forecastOperating profit ¥20,600 million / Ordinary income ¥14,900 million / Net income ¥18,000 million / Business profit ¥34,000 million / Cash net income ¥24,000 million / EPS ¥45.13 / Cash EPS ¥60.17
Progress against full-year forecastIchigo Owners acquisitions were approximately 76% of the full-year target of ¥58 billion. Progress rates for other consolidated items: Not disclosed
Self-assessment against the planExceeded the plan for cumulative 2Q results and is progressing smoothly toward the full-year forecast
Segment resultsAsset Management Business profit ¥1,713 million / yoy_pct 66 / Shinchiku Business profit ¥7,115 million / yoy_pct 38 / Hotels Business profit ¥2,250 million / yoy_pct -57 / Ichigo Owners Business profit ¥3,463 million / yoy_pct 39 / Clean Energy Business profit ¥1,006 million / yoy_pct -17
Key KPIsIndicator name Recurring revenue / Value 125 Hundreds of millions of yen / Year-on-year (%) -2 Hundreds of millions of yen, Indicator name Non-recurring revenue / Value 100 Hundreds of millions of yen / Year-on-year (%) 8 Hundreds of millions of yen, Indicator name Cash earnings / Value 226 Hundreds of millions of yen / Year-on-year (%) 2 Hundreds of millions of yen, Indicator name Fixed-cost coverage ratio of recurring income / Value 196 % / Year on year against the same period last year Not disclosed, Indicator name Long-term debt ratio / Value 91 % / Year on year against the same period last year Not disclosed, Indicator name Weighted average interest rate / Value 1.69 % / Year on year against the same period last year Not disclosed, Indicator name ROE / Value 15 % / Year on year against the same period last year Not disclosed, Indicator name Cash ROE / Value 20 % / Year on year against the same period last year Not disclosed, Indicator name DOE / Value 5.1 % / Year on year against the same period last year Not disclosed, Indicator name AUM / Value 3,574 Hundreds of millions of yen / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name Tradepia Odaiba occupancy rate / Value 92% in the same period of the previous year, 99% in the current period, Indicator name RevPAR / Value ¥12,102 / Year on year against the same period last year ¥-12, Indicator name Room revenue from owned hotels / Value Up 16% year on year, Indicator name Setup office rental revenue / Value 1.8–2.1x the previous level
Medium-term management plan targetsLong-term VISION “Ichigo 2030” ROE of at least 15%, cash ROE of at least 18%, a stock earnings ratio of at least 60%, a stock earnings fixed-cost coverage ratio of at least 200%, and DOE of at least 5%, among other targets. No target year specified.
Financial targetsROE Target 15% or higher / Actual and forecast 15.0% / Cash ROE Target 18% or more / Actual and forecast 20.0% / DOE Target 5% or more / Actual and forecast 5.1%
Annual DividendAnnual dividend amount ¥15.5 / Interim and Year-End Breakdown Not disclosed
Acquisition of treasury sharesBuyback limit ¥5 billion, with a limit of 15 million shares / Period 15 October 2026–30 April 2027
New initiatives¥5 billion share repurchase, Cancellation of 14 million treasury shares held and shares newly acquired, Expand the conversion of Ichigo Hongo Village into setup offices to 5 floors and 15 units during the current fiscal year, Diversification of the renewable energy business, including grid-scale batteries and community-based green biomass projects
Items this document does not state (14)
Net SalesGross Profit MarginOperating profit marginResults for the three months of the current quarterBreakdown of Factors Affecting the ChangeNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioCapital 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.

Higher profit in asset management, value-added real estate, and Ichigo Owners offset lower profit in hotels and clean energy. The company cited higher office occupancy, new acquisitions, leasing and rent revisions in the value-added real estate business; a decline in demand at hotels in Osaka and Kyoto following the Expo-related demand; and the temporary shutdown of some power plants due to lightning strikes in the clean energy business.

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Financial Results Presentation for the Second Quarter (Interim Period) of the Fiscal Year Ending February 2027 | Ichigo Inc. (2337) timely disclosure | Komori