Worth reading
60In 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
-38.4
Year-on-year revenue growth (%)Wording
Conditional
How definitive the wording is.Results for this period
Third quarter1 July 2025 to 31 March 2026ConsolidatedJapanese GAAPNet Sales18,146million yenYear on year -38.4%Progress 35.3%
Operating profit1,400million yenYear on year -27.4%Progress 30.9%
Ordinary income733million yenYear on year -47.2%Progress 20.9%
Net income attributable to owners of the parent736million yenYear on year -34.7%Progress 24.2%
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¥26.01
Financial position at period-end
Total assets51,285million yen
of which net assets 10,459 million yenEquity ratio 20.4%vs. prior year-end -6.4pt
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 revenueCondominium development business 116 million yen (YoY -98.6%), Income-producing property business 17,110 million yen (YoY -14.9%), Agency Sales Business 194 million yen (YoY -66.9%), Building management business 402 million yen (YoY +1.8%), Other (outside reportable segments) 349 million yen (YoY -7.1%)
Segment profitCondominium development business -461 million yen, Income-producing property business 2,751 million yen (YoY +48.2%), Agency Sales Business -148 million yen, Building management business -1 million yen, Other (outside reportable segments) -50 million yen
Outlook and shareholder returns
Full-year earnings forecast
Net Sales51,426 million yen (YoY -16.7%)
Operating profit4,538 million yen (YoY -16.2%)
Ordinary income3,505 million yen (YoY -24.3%)
Net income3,042 million yen (YoY -17.4%)
Annual Dividend Forecast40 yen → 0 yen（-100.0%）
Factors Behind Changes in Business Performance
The condominium development business handed over 2 units, the income-producing property business handed over 19 properties, and the sales agency business handed over a total of 45 properties comprising 103 units in the Tokyo metropolitan wards and elsewhere. The building management business managed 4,209 condominium units. In addition, the hotel business has been included in Other since the first quarter, and the allocation basis for company-wide expenses was revised beginning in the second quarter.
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 0 / Excluded 1 / Companies excluded from consolidation 特定目的会社グローバル外苑前
Material subsequent eventsRegarding the tender offer by DAITO TRUST CONSTRUCTION CO.,LTD. for the Company’s common shares, the Company resolved to express its opinion in favor of the tender offer and recommend that shareholders tender their shares. The Company expects to become a wholly owned subsidiary through the tender offer and subsequent procedures, and its shares are expected to be delisted.
Impairment lossNo applicable matters
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 1 million yen / Extraordinary loss Loss on disposal and sale of non-current assets 5 million yen, Loss on valuation of golf membership rights 15 million yen
Depreciation and amortization62 million yen
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingWhether applicable No / Subject person Not disclosed
Issued Shares at Period-End28,306,000
Treasury Shares at Period-End76
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 July 2025 to 31 March 2026 |
| Net Sales | 18,146 million yen (YoY -38.4%) |
| Operating profit | 1,400 million yen (YoY -27.4%) |
| Ordinary income | 733 million yen (YoY -47.2%) |
| Profit attributable to owners of the parent | 736 million yen (YoY -34.7%) |
| Net income per share | ¥26.01 |
| Equity ratio | End of the current fiscal period 20.4 / End of previous period 26.8 |
| Total assets | 51,285 million yen |
| Net assets | 10,459 million yen |
| Full-year earnings forecast | Net Sales 51,426 million yen (YoY -16.7%) / Operating profit 4,538 million yen (YoY -16.2%) / Ordinary income 3,505 million yen (YoY -24.3%) / Net income 3,042 million yen (YoY -17.4%) |
| Annual Dividend Forecast | 40 yen → 0 yen（-100.0%） |
| Segment revenue | Condominium development business 116 million yen (YoY -98.6%), Income-producing property business 17,110 million yen (YoY -14.9%), Agency Sales Business 194 million yen (YoY -66.9%), Building management business 402 million yen (YoY +1.8%), Other (outside reportable segments) 349 million yen (YoY -7.1%) |
| Segment profit | Condominium development business -461 million yen, Income-producing property business 2,751 million yen (YoY +48.2%), Agency Sales Business -148 million yen, Building management business -1 million yen, Other (outside reportable segments) -50 million yen |
| Depreciation and amortization | 62 million yen |
| Impairment loss | No applicable matters |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 1 million yen / Extraordinary loss Loss on disposal and sale of non-current assets 5 million yen, Loss on valuation of golf membership rights 15 million yen |
| 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 0 / Excluded 1 / Companies excluded from consolidation 特定目的会社グローバル外苑前 |
| Material subsequent events | Regarding the tender offer by DAITO TRUST CONSTRUCTION CO.,LTD. for the Company’s common shares, the Company resolved to express its opinion in favor of the tender offer and recommend that shareholders tender their shares. The Company expects to become a wholly owned subsidiary through the tender offer and subsequent procedures, and its shares are expected to be delisted. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 28,306,000 |
| Treasury Shares at Period-End | 76 |
| Factors Behind Changes in Business Performance | The condominium development business handed over 2 units, the income-producing property business handed over 19 properties, and the sales agency business handed over a total of 45 properties comprising 103 units in the Tokyo metropolitan wards and elsewhere. The building management business managed 4,209 condominium units. In addition, the hotel business has been included in Other since the first quarter, and the allocation basis for company-wide expenses was revised beginning in the second quarter. |
Items this document does not state (10)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodRevision to Earnings ForecastPayout 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.In the condominium development business, only 2 units at “Will Rose Shinozaki” were handed over, while handovers in the sales agency business also fell below the year-earlier level. Meanwhile, the income-producing property business handed over 19 properties, including the “Jujo Project,” “Ryogoku Project” and “Kayabacho II Project.”
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