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
10000
¥ million (increase in the net sales target)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+12.1%
基準 48,623Target54,500million
Operating profit+8.1%
基準 3,747Target4,050million
Operating profit margin+1.0pt
基準 2,026Target2,027%
Net income for the current fiscal year+7.9%
基準 2,457Target2,650million
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
ROE36.5% (actual results as of the end of January 2026) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNet sales of ¥44,500 million and operating profit of ¥2,400 million (plan as of the April 2025 disclosure) → Net sales of ¥48,623 million and operating profit of ¥3,747 million (actual results for the fiscal year ended January 2026)（Net sales: +9.3%; operating profit: +56.1%）+9.3%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyThe company emphasizes a balance between growth investment and its basic policy of paying stable dividends. The forecast payout ratio for the fiscal year ending January 2027 is 18.1%, and the annual dividend per share is ¥45. The period covered is the fiscal year ending January 2027.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceThe company assesses that the stock price increased approximately 4.9-fold over the two years from the end of January 2024 to the end of January 2026, while EPS increased approximately 11.1-fold, indicating a divergence in their rates of increase. The PER was 5.90x as of 28 April 2026, which the company recognizes as low and below the 14.4x weighted average for real estate companies on the TSE Growth Market. It aims to increase its PER by deepening understanding of its growth potential and strengthening shareholder returns.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Financial policy 1 (growth)
02Financial policy 2 (share price indicators)
03Financial policy 3 (capital efficiency and financial soundness)
04Shareholder returns
Non-financial targetsIndicator name Opening of the R Gallery Ichinomiya model-home showroom (provisional name) / Target value 26th location in the Tokai area and 18th location in the custom-built housing division / Timing Scheduled for October 2026
Reason for revision or withdrawal
Results exceeded the initial plan as sales of built-for-sale homes progressed strongly.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Progress against the plan | Partially revised |
| Sales Target | ¥48,623 million (actual results for the fiscal year ended January 2026) → ¥54,500 million (plan for the fiscal year ending January 2027)（+12.1%） |
| Operating profit target | ¥3,747 million (actual results for the fiscal year ended January 2026) → ¥4,050 million (plan for the fiscal year ending January 2027)（+8.1%） |
| Operating profit margin target | 7.7% (actual results for the fiscal year ended January 2026) → 7.4% (plan for the fiscal year ending January 2027)（-3.9%） |
| Net income target | ¥2,457 million (actual results for the fiscal year ended January 2026) → ¥2,650 million (plan for the fiscal year ending January 2027)（+7.9%） |
| ROE target | 36.5% (actual results as of the end of January 2026) → Not disclosed |
| Payout ratio / DOE policy | The company emphasizes a balance between growth investment and its basic policy of paying stable dividends. The forecast payout ratio for the fiscal year ending January 2027 is 18.1%, and the annual dividend per share is ¥45. The period covered is the fiscal year ending January 2027. |
| Self-assessment of PBR and share price | The company assesses that the stock price increased approximately 4.9-fold over the two years from the end of January 2024 to the end of January 2026, while EPS increased approximately 11.1-fold, indicating a divergence in their rates of increase. The PER was 5.90x as of 28 April 2026, which the company recognizes as low and below the 14.4x weighted average for real estate companies on the TSE Growth Market. It aims to increase its PER by deepening understanding of its growth potential and strengthening shareholder returns. |
| Non-financial targets | Indicator name Opening of the R Gallery Ichinomiya model-home showroom (provisional name) / Target value 26th location in the Tokai area and 18th location in the custom-built housing division / Timing Scheduled for October 2026 |
| Key initiatives | Financial policy 1 (growth), Financial policy 2 (share price indicators), Financial policy 3 (capital efficiency and financial soundness), Shareholder returns |
| Results under the previous plan | Net sales of ¥44,500 million and operating profit of ¥2,400 million (plan as of the April 2025 disclosure) → Net sales of ¥48,623 million and operating profit of ¥3,747 million (actual results for the fiscal year ended January 2026)（Net sales: +9.3%; operating profit: +56.1%） |
| Reason for revision or withdrawal | Results exceeded the initial plan as sales of built-for-sale homes progressed strongly. |
| Publication date | 30 April 2026 |
Items this document does not state (11)
Plan periodROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetPlan assumptionsSize of the Target MarketRisks identifiedDate of board resolution
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.Results exceeded the initial plan as sales of built-for-sale homes progressed strongly. Rapid growth in the Greater Tokyo area and solid performance in the Tokai area were also cited.
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.