Worth reading
84Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
15.9
Hundred millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Presentation materials on financial resultsFirst quarter of the fiscal year ending December 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥11,355 million+80.1%
Operating profit¥1,115 million+83.9%
Net income¥1,608 million+215.6%
Results for the three months of the current quarter
Net Sales
¥11,355 million
Operating profit
¥1,115 million
Profit before tax
¥2,433 million
Net income
¥1,608 million
Full-year earnings forecast
Net Sales
¥77,000 million
Operating profit
¥4,300 million
Profit before tax
¥4,500 million
Net income
¥3,100 million
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 Sales14.7%
Operating profit26.0%
Profit before tax54.1%
Net income51.9%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress of more than 50% toward the profit-before-tax plan was within expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Domestic whole-building real estate salesChange in amount+¥980 million
- Fractional product salesChange in amount-¥1.53 billion
- Office condominium salesChange in amount+¥310 million
- Overseas real estate salesChange in amount+¥10 million
- Recurring fees, etc.Change in amount-¥50 million
- Personnel expensesChange in amount-¥60 million
- Sales brokerage feesChange in amount+¥300 million
- Other SG&A expensesChange in amount-¥160 million
- Non-Operating Income and ExpensesChange in amount-¥110 million
- Extraordinary Gains and LossesChange in amount+¥1.59 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Fractional real estate product sales plan
50 Hundred millions of yen
Office unit sales plan
100 Hundred millions of yen
Whole-building resale plan
500 Hundred millions of yen
Target number of grid-scale battery storage sites
10 Location
New initiatives
- The first grid-scale battery storage site has begun operations, with a target of securing 10 sites by year-end
- Commenced a large-scale joint investment with NANKAI and began accepting asset management mandates
- Expanding the office unit business as a growth driver
- Advancing licensing and property acquisition for the real estate crowdfunding business
- Preparing to enter the private fund business
- Launched branding initiatives, including the company's first TV commercial
Key KPIsA metric the company considers important as a management benchmark.
- Balance of income-producing properties held for sale¥62,650 million
- Total balance of income-producing properties741 Hundred millions of yen
- Overseas Revenue Mix4.2 %Year on year against the same period last year6.1% in the year-earlier period
- Number of financial institutions able to refer customers51 banks
- Turnaround period for the whole-building redevelopment and resale business368 daysYear on year against the same period last year462 days in the year-earlier period
- Positive responses to the engagement survey59 %Year on year against the same period last year47% in the previous year
Segment results
Income-producing property sales business
Net Sales
¥10,352 million
Year on year against the same period last year80.9%
Operating profit
¥1,467 million
Year on year against the same period last year95.1%
Recurring Fee-Based Services
Net Sales
¥1,003 million
Year on year against the same period last year67.1%
Operating profit
¥321 million
Year on year against the same period last year103.5%
Domestic whole-building redevelopment and resale
Net Sales
¥8,491 million
Year on year against the same period last year140.9%
Gross profit
¥1,702 million
Year on year against the same period last year236.7%
Fractional real estate product sales
Net Sales
¥849 million
Office condominium product sales
Net Sales
¥892 million
Medium-term management plan targets
Second medium-term management plan
Target fiscal yearFY2026
Profit-before-tax target
30 Hundred millions of yen
Comparison with actual resultsAchieved as of FY2025
Long-Term Vision
Target fiscal year2034
Profit-before-tax target
200 Hundred millions of yen
BtoC share target
40 %
Financial targets
ROE target13–14% (through FY2027)
Actual ROE16.9%（FY2025）
FY2026 projected ROE14.5%
Actual ROIC7.0% (FY2025)
Market Size / Share
Target inbound visitor numbers
6,000 10,000 people
Fiscal year2030
Actual inbound visitor numbers
3,686 10,000 people
Fiscal year2024
BtoC share target
40 %
Fiscal year2034
Number of stores and locations
Number at period-endOne grid-scale battery storage site is operational; the target is to secure 10 sites by year-end
Number of employees
Number of Employees255 people
| Item | Details |
|---|---|
| Document type | Presentation materials on financial results |
| Fiscal Period Covered | First quarter of the fiscal year ending December 2026 |
| Net Sales | ¥11,355 million (YoY +80.1%) |
| Operating profit | ¥1,115 million (YoY +83.9%) |
| Net income | ¥1,608 million (YoY +215.6%) |
| Results for the three months of the current quarter | Net Sales ¥11,355 million / Operating profit ¥1,115 million / Profit before tax ¥2,433 million / Net income ¥1,608 million |
| Full-year earnings forecast | Net Sales ¥77,000 million / Operating profit ¥4,300 million / Profit before tax ¥4,500 million / Net income ¥3,100 million |
| Progress against full-year forecast | Net Sales 14.7% / Operating profit 26.0% / Profit before tax 54.1% / Net income 51.9% |
| Self-assessment against the plan | Progress of more than 50% toward the profit-before-tax plan was within expectations |
| Segment results | Income-producing property sales business Net Sales ¥10,352 million / Operating profit ¥1,467 million / Recurring Fee-Based Services Net Sales ¥1,003 million / Operating profit ¥321 million / Domestic whole-building redevelopment and resale Net Sales ¥8,491 million / Gross profit ¥1,702 million / Fractional real estate product sales Net Sales ¥849 million / Office condominium product sales Net Sales ¥892 million |
| Breakdown of Factors Affecting the Change | Factors Domestic whole-building real estate sales / Change in amount +¥980 million, Factors Fractional product sales / Change in amount -¥1.53 billion, Factors Office condominium sales / Change in amount +¥310 million, Factors Overseas real estate sales / Change in amount +¥10 million, Factors Recurring fees, etc. / Change in amount -¥50 million, Factors Personnel expenses / Change in amount -¥60 million, Factors Sales brokerage fees / Change in amount +¥300 million, Factors Other SG&A expenses / Change in amount -¥160 million, Factors Non-Operating Income and Expenses / Change in amount -¥110 million, Factors Extraordinary Gains and Losses / Change in amount +¥1.59 billion |
| Key KPIs | Indicator name Balance of income-producing properties held for sale / Value ¥62,650 million / Year on year against the same period last year Not disclosed, Indicator name Total balance of income-producing properties / Value 741 Hundred millions of yen / Year on year against the same period last year Not disclosed, Indicator name Overseas Revenue Mix / Value 4.2 % / Year on year against the same period last year 6.1% in the year-earlier period, Indicator name Number of financial institutions able to refer customers / Value 51 banks / Year on year against the same period last year Not disclosed, Indicator name Turnaround period for the whole-building redevelopment and resale business / Value 368 days / Year on year against the same period last year 462 days in the year-earlier period, Indicator name Positive responses to the engagement survey / Value 59 % / Year on year against the same period last year 47% in the previous year |
| Number of stores and locations | Number at period-end One grid-scale battery storage site is operational; the target is to secure 10 sites by year-end / Number of store openings and closures during the period Not disclosed |
| Number of employees | Number of Employees 255 people / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Fractional real estate product sales plan 50 Hundred millions of yen / Office unit sales plan 100 Hundred millions of yen / Whole-building resale plan 500 Hundred millions of yen / Target number of grid-scale battery storage sites 10 Location |
| Medium-term management plan targets | Second medium-term management plan Target fiscal year FY2026 / Profit-before-tax target 30 Hundred millions of yen / Comparison with actual results Achieved as of FY2025 / Long-Term Vision Target fiscal year 2034 / Profit-before-tax target 200 Hundred millions of yen / BtoC share target 40 % |
| Financial targets | ROE target 13–14% (through FY2027) / Actual ROE 16.9%（FY2025） / FY2026 projected ROE 14.5% / Actual ROIC 7.0% (FY2025) |
| Market Size / Share | Target inbound visitor numbers 6,000 10,000 people / Actual inbound visitor numbers 3,686 10,000 people / BtoC share target 40 % |
| New initiatives | The first grid-scale battery storage site has begun operations, with a target of securing 10 sites by year-end, Commenced a large-scale joint investment with NANKAI and began accepting asset management mandates, Expanding the office unit business as a growth driver, Advancing licensing and property acquisition for the real estate crowdfunding business, Preparing to enter the private fund business, Launched branding initiatives, including the company's first TV commercial |
Items this document does not state (12)
Ordinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesUnit price and quantity metricsRisk amount incorporated into the outlookAnnual DividendPayout 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.The domestic whole-building property redevelopment and resale business performed strongly, while profit from sales of fractional real estate products declined due to the impact of the tax reform outline. The company also recorded ¥1.59 billion in extraordinary gains related to the absorption-type company split and business transfer of a consolidated subsidiary. Revenue from the stock-based fee business declined following the sale of the construction business and the property management business for external owners.
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.