Worth reading
62In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
52.3
% (year-on-year decrease in revenue)Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 January 2026–31 March 2026ConsolidatedJapanese GAAPNet Sales14,568¥ millionYear on year -52.3%Progress 14.6%
Operating profit1,729¥ millionYear on year -41.3%Progress 14.4%
Ordinary income1,307¥ millionYear on year -47.0%Progress 14.5%
Net income attributable to owners of the parent876¥ millionYear on year -51.6%Progress 11.0%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥42.36
Financial position at period-end
Total assets203,797¥ million
of which net assets 52,041 ¥ millionEquity ratio 24.3%vs. prior year-end -9.8pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Segment revenueReal Estate Investment Business ¥13,619 million (YoY -54.3%), Real Estate Leasing Business ¥419 million (YoY +56.8%), Asset Management Business ¥321 million (YoY -25.4%)
Segment profitReal Estate Investment Business ¥2,276 million (YoY -34.5%), Real Estate Leasing Business ¥263 million (YoY +67.5%), Asset Management Business ¥149 million (YoY -44.1%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥100,000 million (YoY +31.0%)
Operating profit¥12,000 million (YoY +39.5%)
Ordinary income¥9,000 million (YoY +25.1%)
Net income¥8,000 million (YoY +8.6%)
Revision to Earnings ForecastNo revision
Annual Dividend Forecast¥110 → ¥130
Factors Behind Changes in Business Performance
The company plans to record most of its profit in the fourth quarter of the fiscal year ending December 2026. Purchases on a contract basis increased to ¥27.8 billion, up ¥14.9 billion year on year, supported by the results of its three growth strategies and social changes, including corporate real estate sales and reviews of CRE strategies.
Disclosure regarding the going concern assumption
No applicable matters.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 1 / Company name Silent partnership operated by 地主・KJRM合同会社 / Excluded Number of companies 3 / Company name LCP San Antonio Owner LLC, LCP Jinushi MO JV 1 LLC, LCP St Peters Owner LLC
Material subsequent eventsAs restricted stock compensation, 20,407 treasury shares were disposed of to 2 directors on 15 April 2026. The total disposal amount was ¥64,996,295.
Impairment lossNo applicable matters.
Breakdown of extraordinary income (loss)Extraordinary income ¥33 million / Extraordinary loss Not disclosed
Depreciation and amortization¥123 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingNo
Issued Shares at Period-End21,569,700 Shares
Treasury Shares at Period-End890,158 Shares
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026–31 March 2026 |
| Net Sales | ¥14,568 million (YoY -52.3%) |
| Operating profit | ¥1,729 million (YoY -41.3%) |
| Ordinary income | ¥1,307 million (YoY -47.0%) |
| Profit attributable to owners of the parent | ¥876 million (YoY -51.6%) |
| Net income per share | ¥42.36 |
| Equity ratio | End of the current fiscal period 24.3 / End of previous period 34.1 |
| Total assets | ¥203,797 million |
| Net assets | ¥52,041 million |
| Full-year earnings forecast | Net Sales ¥100,000 million (YoY +31.0%) / Operating profit ¥12,000 million (YoY +39.5%) / Ordinary income ¥9,000 million (YoY +25.1%) / Net income ¥8,000 million (YoY +8.6%) |
| Revision to Earnings Forecast | No revision |
| Annual Dividend Forecast | ¥110 → ¥130 |
| Segment revenue | Real Estate Investment Business ¥13,619 million (YoY -54.3%), Real Estate Leasing Business ¥419 million (YoY +56.8%), Asset Management Business ¥321 million (YoY -25.4%) |
| Segment profit | Real Estate Investment Business ¥2,276 million (YoY -34.5%), Real Estate Leasing Business ¥263 million (YoY +67.5%), Asset Management Business ¥149 million (YoY -44.1%) |
| Depreciation and amortization | ¥123 million |
| Impairment loss | No applicable matters. |
| Breakdown of extraordinary income (loss) | Extraordinary income ¥33 million / Extraordinary loss Not disclosed |
| Disclosure regarding the going concern assumption | No applicable matters. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 1 / Company name Silent partnership operated by 地主・KJRM合同会社 / Excluded Number of companies 3 / Company name LCP San Antonio Owner LLC, LCP Jinushi MO JV 1 LLC, LCP St Peters Owner LLC |
| Material subsequent events | As restricted stock compensation, 20,407 treasury shares were disposed of to 2 directors on 15 April 2026. The total disposal amount was ¥64,996,295. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | No |
| Issued Shares at Period-End | 21,569,700 Shares |
| Treasury Shares at Period-End | 890,158 Shares |
| Factors Behind Changes in Business Performance | The company plans to record most of its profit in the fourth quarter of the fiscal year ending December 2026. Purchases on a contract basis increased to ¥27.8 billion, up ¥14.9 billion year on year, supported by the results of its three growth strategies and social changes, including corporate real estate sales and reviews of CRE strategies. |
Items this document does not state (9)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioShareholder Return PolicyRegional salesOrders received and order backlog
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 plans to record most of its profit in the fourth quarter of the fiscal year ending December 2026 and stated that progress toward achieving net income attributable to owners of the parent of ¥8,000 million is in line with expectations. It also said that, in addition to the results of its three growth strategies, changes in society, including corporate real estate sales and reviews of CRE strategies, provided a tailwind for the increase in purchases.
How to read this page
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