Worth reading
66In focus
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
1030
¥100 million (revenue target for the fiscal year ending December 2031)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.2%
基準 2,026Target2,031100 million
ROE-2,006.0pt
基準 2,026Target20％
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.
Operating profitNot disclosed → ¥26 billion
Net income for the current fiscal yearNot disclosed → ¥15.2 billion
ROICFiscal year ending December 2025 results and as of the end of May 2026: ROIC to exceed WACC (not disclosed numerically) → Maintain profitability above WACC
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planInitial targets under the Second Medium-Term Management Plan (2024 and 2025) → The initial targets were achieved for the fiscal years ending December 2024 and December 2025. For the fiscal year ending December 2023, revenue, operating profit, and ordinary profit exceeded the plan targets0.0%Calculated from the two disclosed figures
Total investment planApproximately ¥421.0 billion in growth investment and approximately ¥20.0 billion in investment capacity reserved for future M&A and strategic investments. The total amount to be generated and raised during the plan period is approximately ¥471.0 billion
Investment amount by sectorField Growth Investment / Amount Approximately ¥421.0 billion, Field Investment capacity reserved for future M&A and strategic investments / Amount Approximately ¥20.0 billion, Field Shareholder Returns / Amount Approximately ¥30 billion
Statements about the use of capital
Payout ratio / DOE policyTarget a payout ratio of 40%, with a DOE floor of 6%. Applicable period: Not disclosedThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Strengthening the management platform
02Executing the Growth Strategy
03Promotion of sustainability
04Expand the core business
05Expand the DX new-build real estate business
06Strengthen the DX real estate regeneration business
07Accelerate growth through M&A and capital alliances
08Scale up M&A in real estate and related fields
09Create business opportunities in major regional cities
10Leverage the development pipeline and capital markets
11Build up the development pipeline
12Strengthen dialogue with the capital markets
13Management Foundation Strategy
14Finance
15Maintain profitability above the cost of capital
16Shareholder Returns
17Improve management indicators and corporate value
Plan assumptionsThe development of income-producing real estate takes approximately 2.5–3.0 years from acquisition through development and monetization through sales, Medium-scale developments in the DX new-build real estate business have a development size of ¥3.0–5.0 billion and a development period of 2–3 years, Even if interest rates rise by 1.50%, the Company expects to maintain the relationships between ROIC and WACC and between ROE and the cost of equity
Risks identified by the company
Impact on financial soundness and financing capacity during periods of rising interest rates
Reason for revision or withdrawal
The development of income-producing real estate takes approximately 2.5–3.0 years from acquisition through development and monetization through sales. In light of this business characteristic, the Company revised its previous three-year medium-term management plan into a six-year long-term management plan to present a clearer path from growth investment to monetization.
| Item | Details |
|---|---|
| Plan name | Long-Term Management Plan “LA Next Stage 2031” |
| Plan period | Fiscal year ending December 2026 through fiscal year ending December 2031 (6 years) |
| Progress against the plan | Formulated |
| Sales Target | Forecast for the fiscal year ending December 2026: ¥61.0 billion → Target for the fiscal year ending December 2031: ¥103.0 billion（68.9% (simple comparison with the latest forecast)） |
| Operating profit target | Not disclosed → ¥26 billion |
| Net income target | Not disclosed → ¥15.2 billion |
| ROE target | Fiscal year ending December 2025 results and as of the end of May 2026: ROE to exceed the cost of equity (not disclosed numerically) → ROE of at least 20% |
| ROIC target | Fiscal year ending December 2025 results and as of the end of May 2026: ROIC to exceed WACC (not disclosed numerically) → Maintain profitability above WACC |
| Payout ratio / DOE policy | Target a payout ratio of 40%, with a DOE floor of 6%. Applicable period: Not disclosed |
| Total investment plan | Approximately ¥421.0 billion in growth investment and approximately ¥20.0 billion in investment capacity reserved for future M&A and strategic investments. The total amount to be generated and raised during the plan period is approximately ¥471.0 billion |
| Investment amount by sector | Field Growth Investment / Amount Approximately ¥421.0 billion, Field Investment capacity reserved for future M&A and strategic investments / Amount Approximately ¥20.0 billion, Field Shareholder Returns / Amount Approximately ¥30 billion |
| Plan assumptions | The development of income-producing real estate takes approximately 2.5–3.0 years from acquisition through development and monetization through sales, Medium-scale developments in the DX new-build real estate business have a development size of ¥3.0–5.0 billion and a development period of 2–3 years, Even if interest rates rise by 1.50%, the Company expects to maintain the relationships between ROIC and WACC and between ROE and the cost of equity |
| Key initiatives | Strengthening the management platform, Executing the Growth Strategy, Promotion of sustainability, Expand the core business, Expand the DX new-build real estate business, Strengthen the DX real estate regeneration business, Accelerate growth through M&A and capital alliances, Scale up M&A in real estate and related fields, Create business opportunities in major regional cities, Leverage the development pipeline and capital markets, Build up the development pipeline, Strengthen dialogue with the capital markets, Management Foundation Strategy, Finance, Maintain profitability above the cost of capital, Shareholder Returns, Improve management indicators and corporate value |
| Results under the previous plan | Initial targets under the Second Medium-Term Management Plan (2024 and 2025) → The initial targets were achieved for the fiscal years ending December 2024 and December 2025. For the fiscal year ending December 2023, revenue, operating profit, and ordinary profit exceeded the plan targets |
| Reason for revision or withdrawal | The development of income-producing real estate takes approximately 2.5–3.0 years from acquisition through development and monetization through sales. In light of this business characteristic, the Company revised its previous three-year medium-term management plan into a six-year long-term management plan to present a clearer path from growth investment to monetization. |
| Risks identified | Impact on financial soundness and financing capacity during periods of rising interest rates |
| Date of board resolution | 9 July 2026 |
| Publication date | 9 July 2026 |
Items this document does not state (7)
Operating profit margin targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceSegment targetNon-financial targetsSize of the Target Market
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.Because the development of income-producing real estate takes approximately 2.5–3.0 years from acquisition through development and monetization through sales, the Company revised its previous three-year medium-term management plan into a six-year long-term management plan to present a clearer path from growth investment to monetization.
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.