Worth reading
79Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
32.9
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 2026, full year13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥23,528 million+16.1%
Operating profit¥3,001 million+32.9%
Ordinary income¥2,779 million+31.6%
Net income¥1,850 million+31.7%
Gross Profit MarginRecord high. Specific figures and year-on-year changes in the margin are shown separately for the residential real estate business and the income-producing real estate business.
Operating profit margin12.8%, up from 11.1% in the previous fiscal year.
Results for the three months of the current quarterQuarterly revenue and operating profit for the fiscal year ended March 2026 are shown in a graph.
Full-year earnings forecast
Net Sales
¥28,500 million
Operating profit
¥3,230 million
Ordinary income
¥2,900 million
Net income attributable to owners of the parent
¥1,885 million
Net income per share
¥330.8
Dividend per share
¥56
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。
Net SalesAchievement rate against full-year forecast: ▲2.0%
Operating profitAchievement rate against full-year forecast: +1.8%
Ordinary incomeAchievement rate against full-year forecast: +3.0%
Net income for the current fiscal yearAchievement rate against full-year forecast: +5.7%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue was slightly below forecast, while profit substantially exceeded the plan following 2 upward revisions during the fiscal year, plus additional upside. For the fiscal year ending March 2027, the Company expects performance in line with its plan as the second year of the medium-term management plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Gross profit1,064
Labor and recruitment costs-84
Fees paid-144
Advertising expenses-17
Other SG&A expenses-74
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Target revenue28,500 Hundreds of millions of yen
Committed inventory at period-end237 Hundreds of millions of yen
Remaining revenue sources48 Hundreds of millions of yen
Annual purchases304 Hundreds of millions of yen
Average land inventory holding periodWithin 6 months
New initiatives
- Launch of operations using Appraiser AI Version 2
- Launch of the brand website for STRIPES, a new series of single-building income-producing real estate
- Development underway on the second shared vacation home project in Tateyama, Chiba Prefecture
- Continue developing AI tools and promoting data-driven digital transformation from the fiscal year ending March 2027 onward
Key KPIsA metric the company considers important as a management benchmark.
- Average land inventory holding period4.9 monthsYear on year against the same period last year4.8 months in the previous fiscal year
- Confirmed inventory¥25,598 million
- Equity ratio39.1 %Year on year against the same period last year38.3% in the previous fiscal year
- Operating profit per employee¥2,886 10,000Year on year against the same period last year+43%
- Percentage of referrals and repeat customers30.5 %
- Pre-completion sales rate91 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average selling price
1.3 Hundreds of millions of yen
Average floor area sold
126 ㎡
Average matched building priceShown by quarter
Segment results
Residential real estate businessRevenue and gross profit composition shown
Income-producing real estate business
Sales value¥4,790 million
Percentage of revenue¥21.5 million
Matching and other feesRevenue and gross profit composition shown
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2028
Net Sales35,000 times
Ordinary income margin10 times
ROE15% or higher
PER15 times
Comparison with actual resultsFiscal year ended March 2026: revenue of ¥23,528 million and ordinary profit margin of 11.8%
Financial targets
ROE15% or higher (target for the fiscal year ending March 2028)
Equity ratioActual: 39.1%
PER15 times (target for the fiscal year ending March 2028)
Market Size / Share
Average market selling price in the Tokyo area0.4 Hundreds of millions of yen
Company average selling price1.3 Hundreds of millions of yen
Competitive comparisonThe average floor area of properties sold by major Company A is approximately 60 sq. m., compared with 126 sq. m. for the Company
Number of stores and locations
Number of locations at period end4
LocationMeguro head office, Meguro branch, Sakurashinmachi branch, Jiyugaoka branch
Number of employees
115 People
As ofEnd of March 2026
Changes during the period and hiring planThe Company states that it will continue to strengthen recruitment and employee development. Changes in headcount and the recruitment plan are Not disclosed
Annual Dividend
Annual dividend per share¥56
BreakdownInterim and year-end dividends
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥23,528 million (YoY +16.1%) |
| Operating profit | ¥3,001 million (YoY +32.9%) |
| Ordinary income | ¥2,779 million (YoY +31.6%) |
| Net income | ¥1,850 million (YoY +31.7%) |
| Gross Profit Margin | Record high. Specific figures and year-on-year changes in the margin are shown separately for the residential real estate business and the income-producing real estate business. |
| Operating profit margin | 12.8%, up from 11.1% in the previous fiscal year. |
| Results for the three months of the current quarter | Quarterly revenue and operating profit for the fiscal year ended March 2026 are shown in a graph. |
| Full-year earnings forecast | Net Sales ¥28,500 million / Operating profit ¥3,230 million / Ordinary income ¥2,900 million / Net income attributable to owners of the parent ¥1,885 million / Net income per share ¥330.8 / Dividend per share ¥56 |
| Progress against full-year forecast | Net Sales Achievement rate against full-year forecast: ▲2.0% / Operating profit Achievement rate against full-year forecast: +1.8% / Ordinary income Achievement rate against full-year forecast: +3.0% / Net income for the current fiscal year Achievement rate against full-year forecast: +5.7% |
| Self-assessment against the plan | Revenue was slightly below forecast, while profit substantially exceeded the plan following 2 upward revisions during the fiscal year, plus additional upside. For the fiscal year ending March 2027, the Company expects performance in line with its plan as the second year of the medium-term management plan. |
| Segment results | Residential real estate business Revenue and gross profit composition shown / Income-producing real estate business Sales value ¥4,790 million / Percentage of revenue ¥21.5 million / Matching and other fees Revenue and gross profit composition shown |
| Breakdown of Factors Affecting the Change | Gross profit 1,064 / Labor and recruitment costs -84 / Fees paid -144 / Advertising expenses -17 / Other SG&A expenses -74 |
| Key KPIs | Average land inventory holding period 4.9 months, Confirmed inventory ¥25,598 million, Equity ratio 39.1 %, Operating profit per employee ¥2,886 10,000, Percentage of referrals and repeat customers 30.5 %, Pre-completion sales rate 91 % |
| Unit price and quantity metrics | Average selling price 1.3 Hundreds of millions of yen / Average floor area sold 126 ㎡ / Average matched building price Shown by quarter |
| Number of stores and locations | Number of locations at period end 4 / Location Meguro head office, Meguro branch, Sakurashinmachi branch, Jiyugaoka branch / Number of store openings and closures during the period Not disclosed |
| Number of employees | 115 People |
| Assumptions Underlying the Business Outlook | Target revenue 28,500 Hundreds of millions of yen / Committed inventory at period-end 237 Hundreds of millions of yen / Remaining revenue sources 48 Hundreds of millions of yen / Annual purchases 304 Hundreds of millions of yen / Average land inventory holding period Within 6 months |
| Medium-term management plan targets | Target fiscal year Fiscal year ending March 2028 / Net Sales 35,000 times / Ordinary income margin 10 times / ROE 15% or higher / PER 15 times / Comparison with actual results Fiscal year ended March 2026: revenue of ¥23,528 million and ordinary profit margin of 11.8% |
| Financial targets | ROE 15% or higher (target for the fiscal year ending March 2028) / Equity ratio Actual: 39.1% / PER 15 times (target for the fiscal year ending March 2028) |
| Annual Dividend | Annual dividend per share ¥56 / Breakdown Interim and year-end dividends |
| Market Size / Share | Average market selling price in the Tokyo area 0.4 Hundreds of millions of yen / Company average selling price 1.3 Hundreds of millions of yen / Competitive comparison The average floor area of properties sold by major Company A is approximately 60 sq. m., compared with 126 sq. m. for the Company |
| New initiatives | Launch of operations using Appraiser AI Version 2, Launch of the brand website for STRIPES, a new series of single-building income-producing real estate, Development underway on the second shared vacation home project in Tateyama, Chiba Prefecture, Continue developing AI tools and promoting data-driven digital transformation from the fiscal year ending March 2027 onward |
Items this document does not state (7)
Selling, general and administrative expensesRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey 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 fell short of forecast because the Company prioritized profit levels by limiting the volume of inventory held for sale and carried inventory over into the following fiscal year. Profit was supported by higher revenue, an improved gross profit margin, resilient demand from high-net-worth individuals, an increase in construction company matching, improved purchasing accuracy and selling prices through the use of AI, and control of selling, general and administrative expenses.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.