Worth reading
65In 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
27
Yen per share (year-on-year change in annual dividend)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationQ3 FY202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,023,402 million+108.9%
Operating profit¥120,960 million+118.3%
Ordinary income¥116,068 million+118.1%
Net income¥81,260 million+115.1%
Selling, general and administrative expenses¥78,510 million
Gross Profit Margin
Detached-home-related business
Rate17.7
Year-on-year change (points)0.6
Condominium Business
Rate29.8
Year-on-year change (points)6.4
Income-producing real estate business
Rate16.2
Year-on-year change (points)0.4
Other (U.S. real estate, etc.)
Rate20
Year-on-year change (points)-0.1
プレサンス
Rate25.5
Year-on-year change (points)2.7
Operating profit margin
Consolidated
Rate11.8
Year-on-year change (points)0.9
Detached-home-related business
Rate10.9
Year-on-year change (points)0.2
Condominium Business
Rate17.8
Year-on-year change (points)Comparison unavailable because the previous year recorded an operating loss
Income-producing real estate business
Rate10.6
Year-on-year change (points)0.3
Other (U.S. real estate, etc.)
Rate11.7
Year-on-year change (points)-0.5
プレサンス
Rate13.8
Year-on-year change (points)1.7
Results for the three months of the current quarter
Detached-home-related business
Net Sales¥182,748 million
Operating profit¥18,721 million
Condominium Business
Net Sales¥16,368 million
Operating profit¥3,115 million
Income-producing real estate business
Net Sales¥40,727 million
Operating profit¥3,118 million
U.S. real estate business
Net Sales¥32,491 million
Operating profit¥3,912 million
プレサンス
Net Sales¥52,496 million
Operating profit¥6,537 million
Full-year earnings forecast
Net Sales
¥1,500,000 million
Operating profit
¥180,000 million
Ordinary income
¥170,000 million
Net income for the current fiscal year
¥118,500 million
What the company explained in this material
New initiatives
- Narrowing the full-year earnings forecast to the upside of the range
- Raising the year-end dividend forecast to ¥105
- Acquisition of ¥25 billion and 5 million treasury shares, followed by cancellation of the acquired shares
- Launching the provision of substantially renewable electricity in the Fukuoka area
- Launching TATETA, an app for visualizing the construction process of custom-built homes
- Taking measures against heatstroke through the construction management app Architect Jump
- Opening UDC Minakami
Key KPIsA metric the company considers important as a management benchmark.
- Year-on-year change in contracted sales for the detached housing-related business115.3 %Year on year against the same period last yearThird quarter
- Number of contracts in the detached housing-related business3,941 EngagementsYear on year against the same period last yearUp 15.3% year on year
- Contract price for speculative housing in the Tokyo metropolitan area¥49.2 millionYear on year against the same period last yearUp 1.4% year on year
- Condominium contract progress rateOver 98
- Number of properties under management in the U.S. real estate business6,745 buildingsYear on year against the same period last year+917.0%
- Equity ratio38.4 %Year on year against the same period last year+0.3%
- Net debt-to-equity ratio0.7 timesYear on year against the same period last year+0.2%
- Interest coverage ratio16.4 timesYear on year against the same period last year-2.5%
- Cumulative number of contracts for Ouchi Link Electricity10,120 Engagements
- Employment Rate of People with Disabilities3.16 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number and unit price of contracts for detached housing-related operations; number of condominium units delivered and unit price; number and unit price of income-producing properties delivered; number of U.S. real estate properties delivered; and number and unit price of プレサンス condominium units deliveredSegment results
Detached-home-related business
Net Sales¥565,538 million
Year-on-year change in revenue¥108.6 million
Operating profit¥61,840 million
Year-on-year operating profit growth¥110.5 million
Condominium Business
Net Sales¥42,436 million
Year-on-year change in revenue¥223.1 million
Operating profit¥7,566 million
Income-producing real estate business
Net Sales¥154,128 million
Year-on-year change in revenue¥108.5 million
Operating profit¥16,370 million
Year-on-year operating profit growth¥112.1 million
Other (U.S. real estate, etc.)
Net Sales¥114,037 million
Year-on-year change in revenue¥103.2 million
Operating profit¥13,380 million
Year-on-year operating profit growth¥99 million
プレサンス
Net Sales¥150,047 million
Year-on-year change in revenue¥99.7 million
Operating profit¥20,759 million
Year-on-year operating profit growth¥113.8 million
Medium-term management plan targets
Three-year cumulative net income
¥3,120 hundred million
Equity ratio
35 %
Net debt-to-equity ratio
1 times or less
Three-year cumulative growth investment
¥5,000 hundred million
Three-year cumulative shareholder returns
¥1,300 hundred million
Financial targets
Equity ratio
Target35 %
Actual results38.4 %
Net debt-to-equity ratio
Target1.0 times or less
Actual results0.7 times
Market Size / Share
2025 national ranking by number of condominium units supplied
プレサンスTop-ranked on a standalone basis, 4,524 units
Number of employees
Number of employees with disabilities154 people
Annual Dividend
Annual dividend per share¥205
Interim¥100
End of period¥105
Acquisition of treasury shares
Repurchase authorization amount¥250 hundred million, thousand shares
Number of shares under the buyback program¥5,000 hundred million, thousand shares
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Q3 FY2026 |
| Net Sales | ¥1,023,402 million (YoY +108.9%) |
| Operating profit | ¥120,960 million (YoY +118.3%) |
| Ordinary income | ¥116,068 million (YoY +118.1%) |
| Net income | ¥81,260 million (YoY +115.1%) |
| Gross Profit Margin | Detached-home-related business Rate 17.7 / Year-on-year change (points) 0.6 / Condominium Business Rate 29.8 / Year-on-year change (points) 6.4 / Income-producing real estate business Rate 16.2 / Year-on-year change (points) 0.4 / Other (U.S. real estate, etc.) Rate 20 / Year-on-year change (points) -0.1 / プレサンス Rate 25.5 / Year-on-year change (points) 2.7 |
| Operating profit margin | Consolidated Rate 11.8 / Year-on-year change (points) 0.9 / Detached-home-related business Rate 10.9 / Year-on-year change (points) 0.2 / Condominium Business Rate 17.8 / Year-on-year change (points) Comparison unavailable because the previous year recorded an operating loss / Income-producing real estate business Rate 10.6 / Year-on-year change (points) 0.3 / Other (U.S. real estate, etc.) Rate 11.7 / Year-on-year change (points) -0.5 / プレサンス Rate 13.8 / Year-on-year change (points) 1.7 |
| Selling, general and administrative expenses | ¥78,510 million |
| Results for the three months of the current quarter | Detached-home-related business Net Sales ¥182,748 million / Operating profit ¥18,721 million / Condominium Business Net Sales ¥16,368 million / Operating profit ¥3,115 million / Income-producing real estate business Net Sales ¥40,727 million / Operating profit ¥3,118 million / U.S. real estate business Net Sales ¥32,491 million / Operating profit ¥3,912 million / プレサンス Net Sales ¥52,496 million / Operating profit ¥6,537 million |
| Full-year earnings forecast | Net Sales ¥1,500,000 million / Operating profit ¥180,000 million / Ordinary income ¥170,000 million / Net income for the current fiscal year ¥118,500 million |
| Segment results | Detached-home-related business Net Sales ¥565,538 million / Year-on-year change in revenue ¥108.6 million / Operating profit ¥61,840 million / Year-on-year operating profit growth ¥110.5 million / Condominium Business Net Sales ¥42,436 million / Year-on-year change in revenue ¥223.1 million / Operating profit ¥7,566 million / Income-producing real estate business Net Sales ¥154,128 million / Year-on-year change in revenue ¥108.5 million / Operating profit ¥16,370 million / Year-on-year operating profit growth ¥112.1 million / Other (U.S. real estate, etc.) Net Sales ¥114,037 million / Year-on-year change in revenue ¥103.2 million / Operating profit ¥13,380 million / Year-on-year operating profit growth ¥99 million / プレサンス Net Sales ¥150,047 million / Year-on-year change in revenue ¥99.7 million / Operating profit ¥20,759 million / Year-on-year operating profit growth ¥113.8 million |
| Key KPIs | Indicator name Year-on-year change in contracted sales for the detached housing-related business / Value 115.3 % / Year on year against the same period last year Third quarter, Indicator name Number of contracts in the detached housing-related business / Value 3,941 Engagements / Year on year against the same period last year Up 15.3% year on year, Indicator name Contract price for speculative housing in the Tokyo metropolitan area / Value ¥49.2 million / Year on year against the same period last year Up 1.4% year on year, Indicator name Condominium contract progress rate / Value Over 98 / Year on year against the same period last year Not disclosed, Indicator name Number of properties under management in the U.S. real estate business / Value 6,745 buildings / Year on year against the same period last year 917 buildings, Indicator name Equity ratio / Value 38.4 % / Year on year against the same period last year 0.3 %, Indicator name Net debt-to-equity ratio / Value 0.7 times / Year on year against the same period last year 0.2 times, Indicator name Interest coverage ratio / Value 16.4 times / Year on year against the same period last year -2.5 times, Indicator name Cumulative number of contracts for Ouchi Link Electricity / Value 10,120 Engagements / Year on year against the same period last year Not disclosed, Indicator name Employment Rate of People with Disabilities / Value 3.16 % / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Number and unit price of contracts for detached housing-related operations; number of condominium units delivered and unit price; number and unit price of income-producing properties delivered; number of U.S. real estate properties delivered; and number and unit price of プレサンス condominium units delivered |
| Number of employees | Number of employees with disabilities 154 people / Change during the period Not disclosed |
| Medium-term management plan targets | Three-year cumulative net income ¥3,120 hundred million / Equity ratio 35 % / Net debt-to-equity ratio 1 times or less / Three-year cumulative growth investment ¥5,000 hundred million / Three-year cumulative shareholder returns ¥1,300 hundred million |
| Financial targets | Equity ratio Target 35 % / Actual results 38.4 % / Net debt-to-equity ratio Target 1.0 times or less / Actual results 0.7 times |
| Annual Dividend | Annual dividend per share ¥205 / Interim ¥100 / End of period ¥105 |
| Acquisition of treasury shares | Repurchase authorization amount ¥250 hundred million, thousand shares / Number of shares under the buyback program ¥5,000 hundred million, thousand shares / Period Not disclosed |
| Market Size / Share | 2025 national ranking by number of condominium units supplied プレサンス Top-ranked on a standalone basis, 4,524 units |
| New initiatives | Narrowing the full-year earnings forecast to the upside of the range, Raising the year-end dividend forecast to ¥105, Acquisition of ¥25 billion and 5 million treasury shares, followed by cancellation of the acquired shares, Launching the provision of substantially renewable electricity in the Fukuoka area, Launching TATETA, an app for visualizing the construction process of custom-built homes, Taking measures against heatstroke through the construction management app Architect Jump, Opening UDC Minakami |
Items this document does not state (10)
Progress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioCapital 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.Because the detached housing-related business is progressing smoothly, the full-year earnings forecast, which had been presented as a range, was narrowed to the upside. In line with the shareholder return policy of a total payout ratio of at least 40%, the company also raised its year-end and annual dividend forecasts and stated that it would acquire and cancel treasury shares.
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