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Presentation materials on financial results2998CREAL Inc.Real estate

First-Quarter Financial Results Presentation for the Fiscal Year Ending March 2027

In Q1, consolidated gross profit, operating income, ordinary income and net income fell below the year-earlier period because the company prioritized the acquisition of large-scale properties in its core CREAL business. Meanwhile, PRO, PB and Other businesses posted higher income, and the company expects to recognize earnings from large-scale projects and establish funds in the second half.

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Mixed performance
Direction inferred from the company’s description.
Scale
-2.1
¥ billions (operating income)
Wording
Conditional
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Contents of this document

Presentation materials on financial resultsFirst quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Operating profit-2.1 Hundred millions of yen-76.1%
Ordinary income-2.4 Hundred millions of yen-92.0%
Net income-1.8 Hundred millions of yen-96.5%
Results for the three months of the current quarterGross profit: ¥990 million; operating loss: ¥210 million; ordinary loss: ¥240 million; net loss: ¥180 million; new investors acquired: 5,822; GMV: ¥1.44 billion
Full-year earnings forecast
Gross profit
88.9 Hundred millions of yen
Operating profit
32.9 Hundred millions of yen
Ordinary income
30.5 Hundred millions of yen
Net income for the current fiscal year
21 Hundred millions of yen
Dividend per share
¥8
Number of new investors
30,000 people
GMV
640 Hundred millions of yen
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。
Gross profit11.1%
Operating profit-6.3%
Ordinary income-7.8%
Net income for the current fiscal year-8.5%
Number of new investors19.4%
GMV2.3%
CREAL gross profit10.6%
PRO gross profit4.9%
PB gross profit21.6%
Other gross profit24.4%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Q1 was in line with the budget and proceeded as planned
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
CREAL was affected by the focus on acquiring large-scale properties, the budget weighting toward the second half and the timing of fund formation for large-scale projects. PRO benefited from the recognition of earnings from certain projects and asset management fees. PB benefited from sales of investment condominium residences and improved profitability. Other benefited from an increase in the number of properties under management and hotel operating revenue. Major investment amounts disclosed were approximately ¥170 million for the real estate ST business and approximately ¥60 million for the hotel operations business.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The budget is weighted toward the second half. The outlook assumes that earnings from projects will be realized primarily in the second half, efforts will continue toward launching the real estate ST business, and upfront investment in the hotel operations business will continue. Numerical assumptions: Not disclosed.
New initiatives
  • Basic agreement on a business alliance with RealVantage and a subordinated investment scheme for professional investors under Types 3 and 4 of the Act on Specified Joint Real Estate Ventures
  • Preparations to enter the real estate ST market, including securities system development and preparations to obtain regulatory approvals and licenses
  • Development of AI-enabled products for real estate acquisition, hotel operations and securities systems
  • Rollout of the new VAYS hotel brand
  • Changes and enhancements to the shareholder benefit program
Key KPIsA metric the company considers important as a management benchmark.
  • Number of new investors5,822 people
    Year on year against the same period last year59.7%
  • GMV14.4 Hundred millions of yen
    Year on year against the same period last year26.0%
  • Cumulative number of investors144,409 people
    Year on year against the same period last year35.2%
  • Cumulative GMV1,061.5 Hundred millions of yen
    Year on year against the same period last year34.6%
  • Repeat investment rate77.4 %
  • Hotel rooms operated791 Rooms
    Year on year against the same period last yearApproximately 3x
Segment results
CREAL
Gross profit
¥357 million
Year on year against the same period last year35.2%
PRO
Gross profit
¥172 million
Year on year against the same period last year366.0%
PB
Gross profit
¥225 million
Year on year against the same period last year130.1%
Other
Gross profit
¥232 million
Year on year against the same period last year234.3%
Consolidated
Gross profit
¥987 million
Year on year against the same period last year74.0%
Financial targets
The equity ratio was 26.2% at the end of June 2026. Financial targets: Not disclosed.
Market Size / Share
The real estate crowdfunding market totaled ¥176.3 billion and 875 offerings in FY2024. The real estate ST market totaled ¥296.7 billion and 15 offerings in 2025. The market growth rate was a 127% CAGR, with cumulative GMV of ¥106.1 billion. Online trading accounted for 59.7% of the equity market, while the real estate market is still in its early stages.
Number of stores and locations
Hotel operations comprised 7 properties with 791 rooms at fiscal year-end and currently. This was an increase from 4 properties with 273 rooms following the addition of newly entrusted properties. The pipeline comprises 10 properties with 362 rooms.
Annual Dividend
Projected annual dividend of ¥8 per share. Interim and year-end breakdown: Not disclosed.
Gross profit
9.9 Hundred millions of yen-26.0%
Contents of this document
ItemDetails
Document typePresentation materials on financial results
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Operating profit-2.1 Hundred millions of yen (YoY -76.1%)
Ordinary income-2.4 Hundred millions of yen (YoY -92.0%)
Net income-1.8 Hundred millions of yen (YoY -96.5%)
Gross profit9.9 Hundred millions of yen (YoY -26.0%)
Results for the three months of the current quarterGross profit: ¥990 million; operating loss: ¥210 million; ordinary loss: ¥240 million; net loss: ¥180 million; new investors acquired: 5,822; GMV: ¥1.44 billion
Full-year earnings forecastGross profit 88.9 Hundred millions of yen / Operating profit 32.9 Hundred millions of yen / Ordinary income 30.5 Hundred millions of yen / Net income for the current fiscal year 21 Hundred millions of yen / Dividend per share ¥8 / Number of new investors 30,000 people / GMV 640 Hundred millions of yen
Progress against full-year forecastGross profit 11.1% / Operating profit -6.3% / Ordinary income -7.8% / Net income for the current fiscal year -8.5% / Number of new investors 19.4% / GMV 2.3% / CREAL gross profit 10.6% / PRO gross profit 4.9% / PB gross profit 21.6% / Other gross profit 24.4%
Self-assessment against the planQ1 was in line with the budget and proceeded as planned
Segment resultsCREAL Gross profit ¥357 million / Year on year against the same period last year 35.2% / PRO Gross profit ¥172 million / Year on year against the same period last year 366.0% / PB Gross profit ¥225 million / Year on year against the same period last year 130.1% / Other Gross profit ¥232 million / Year on year against the same period last year 234.3% / Consolidated Gross profit ¥987 million / Year on year against the same period last year 74.0%
Breakdown of Factors Affecting the ChangeCREAL was affected by the focus on acquiring large-scale properties, the budget weighting toward the second half and the timing of fund formation for large-scale projects. PRO benefited from the recognition of earnings from certain projects and asset management fees. PB benefited from sales of investment condominium residences and improved profitability. Other benefited from an increase in the number of properties under management and hotel operating revenue. Major investment amounts disclosed were approximately ¥170 million for the real estate ST business and approximately ¥60 million for the hotel operations business.
Key KPIsIndicator name Number of new investors / Value 5,822 people / Year on year against the same period last year 59.7%, Indicator name GMV / Value 14.4 Hundred millions of yen / Year on year against the same period last year 26.0%, Indicator name Cumulative number of investors / Value 144,409 people / Year on year against the same period last year 35.2%, Indicator name Cumulative GMV / Value 1,061.5 Hundred millions of yen / Year on year against the same period last year 34.6%, Indicator name Repeat investment rate / Value 77.4 % / Year on year against the same period last year Not disclosed, Indicator name Hotel rooms operated / Value 791 Rooms / Year on year against the same period last year Approximately 3x
Number of stores and locationsHotel operations comprised 7 properties with 791 rooms at fiscal year-end and currently. This was an increase from 4 properties with 273 rooms following the addition of newly entrusted properties. The pipeline comprises 10 properties with 362 rooms.
Assumptions Underlying the Business OutlookThe budget is weighted toward the second half. The outlook assumes that earnings from projects will be realized primarily in the second half, efforts will continue toward launching the real estate ST business, and upfront investment in the hotel operations business will continue. Numerical assumptions: Not disclosed.
Financial targetsThe equity ratio was 26.2% at the end of June 2026. Financial targets: Not disclosed.
Annual DividendProjected annual dividend of ¥8 per share. Interim and year-end breakdown: Not disclosed.
Market Size / ShareThe real estate crowdfunding market totaled ¥176.3 billion and 875 offerings in FY2024. The real estate ST market totaled ¥296.7 billion and 15 offerings in 2025. The market growth rate was a 127% CAGR, with cumulative GMV of ¥106.1 billion. Online trading accounted for 59.7% of the equity market, while the real estate market is still in its early stages.
New initiativesBasic agreement on a business alliance with RealVantage and a subordinated investment scheme for professional investors under Types 3 and 4 of the Act on Specified Joint Real Estate Ventures, Preparations to enter the real estate ST market, including securities system development and preparations to obtain regulatory approvals and licenses, Development of AI-enabled products for real estate acquisition, hotel operations and securities systems, Rollout of the new VAYS hotel brand, Changes and enhancements to the shareholder benefit program
Items this document does not state (12)
Net SalesOperating profit marginSelling, general and administrative expensesUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsPayout 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 company focused on acquiring large-scale properties in the CREAL business, the budget was weighted toward the second half and included fewer fund formations and sales in Q1, and fund formation for large-scale projects was scheduled for Q2 onward. It also cited investments ahead of the launch of the real estate ST business and upfront investments in the hotel operations business.

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First-Quarter Financial Results Presentation for the Fiscal Year Ending March 2027 | CREAL Inc. (2998) timely disclosure | Komori