Worth reading
53Recurring
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
51.5
Year-on-year increase in operating income (%)Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 December 2025–28 February 2026ConsolidatedJapanese GAAPNet Sales21,300,268¥ thousandYear on year +32.4%
Operating profit3,492,913¥ thousandYear on year +51.5%
Ordinary income3,455,245¥ thousandYear on year +65.3%
Net income attributable to owners of the parent2,422,192¥ thousandYear on year +70.3%
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.
Net income per share¥71.38
Financial position at period-end
Total assets125,643,183¥ thousand
of which net assets 31,529,573 ¥ thousandEquity ratio 25.0%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 revenueRenovated Condominium Business ¥20,923,945 thousand (YoY +33.3%), Investment ¥10,470 thousand (YoY -93.6%), Advisory Business ¥365,852 thousand (YoY +58.7%)
Segment profitRenovated Condominium Business ¥3,180,512 thousand (YoY +55.8%), Investment ¥-6,753 thousand, Advisory Business ¥486,919 thousand (YoY +74.0%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥84,715 million (YoY +22.5%)
Operating profit¥9,298 million (YoY +27.1%)
Ordinary income¥7,494 million (YoY +21.7%)
Profit attributable to owners of the parent¥5,095 million (YoY +21.7%)
Annual Dividend Forecast¥37 → ¥45（+21.6%）
Shareholder Return PolicyTotal payout ratio of 40.0%
Factors Behind Changes in Business Performance
Purchasing and sales activities progressed extremely well. In the Renovated Condominium Business, the diversification of exit strategies for properties with existing tenants proved effective, increasing the number of units sold and profit margins. In the Advisory Business, brokerage fee revenue increased due to proactive sales activities.
Disclosure regarding the going concern assumption
No applicable matters (There are 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 companies / Excluded 0 companies / Company name None
Material subsequent eventsOn 19 March 2026, the Company disposed of 180,598 treasury shares as restricted stock compensation. The total disposal amount was ¥293,471,750.
Depreciation and amortization¥24,222 thousand
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (participants not specified)
Issued Shares at Period-End34,755,900 shares
Treasury Shares at Period-End821,541 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 December 2025–28 February 2026 |
| Net Sales | ¥21,300,268 thousand (YoY +32.4%) |
| Operating profit | ¥3,492,913 thousand (YoY +51.5%) |
| Ordinary income | ¥3,455,245 thousand (YoY +65.3%) |
| Profit attributable to owners of the parent | ¥2,422,192 thousand (YoY +70.3%) |
| Net income per share | ¥71.38 |
| Equity ratio | End of the current fiscal period 25 / End of previous period 25.6 |
| Total assets | ¥125,643,183 thousand |
| Net assets | ¥31,529,573 thousand |
| Full-year earnings forecast | Net Sales ¥84,715 million (YoY +22.5%) / Operating profit ¥9,298 million (YoY +27.1%) / Ordinary income ¥7,494 million (YoY +21.7%) / Profit attributable to owners of the parent ¥5,095 million (YoY +21.7%) |
| Annual Dividend Forecast | ¥37 → ¥45（+21.6%） |
| Shareholder Return Policy | Total payout ratio of 40.0% |
| Segment revenue | Renovated Condominium Business ¥20,923,945 thousand (YoY +33.3%), Investment ¥10,470 thousand (YoY -93.6%), Advisory Business ¥365,852 thousand (YoY +58.7%) |
| Segment profit | Renovated Condominium Business ¥3,180,512 thousand (YoY +55.8%), Investment ¥-6,753 thousand, Advisory Business ¥486,919 thousand (YoY +74.0%) |
| Depreciation and amortization | ¥24,222 thousand |
| Disclosure regarding the going concern assumption | No applicable matters (There are 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 companies / Excluded 0 companies / Company name None |
| Material subsequent events | On 19 March 2026, the Company disposed of 180,598 treasury shares as restricted stock compensation. The total disposal amount was ¥293,471,750. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (participants not specified) |
| Issued Shares at Period-End | 34,755,900 shares |
| Treasury Shares at Period-End | 821,541 shares |
| Factors Behind Changes in Business Performance | Purchasing and sales activities progressed extremely well. In the Renovated Condominium Business, the diversification of exit strategies for properties with existing tenants proved effective, increasing the number of units sold and profit margins. In the Advisory Business, brokerage fee revenue increased due to proactive sales activities. |
Items this document does not state (11)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodRevision to Earnings ForecastPayout ratioRegional salesOrders received and order backlogImpairment lossBreakdown of extraordinary income (loss)
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.Purchasing and sales activities progressed extremely well. In the Renovated Condominium Business, the diversification of exit strategies for properties with existing tenants proved effective, resulting in a substantial year-on-year increase in the number of units sold and profit margins.
How to read this page
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