Worth reading
54Recurring
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
18.6
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025 to 31 March 2026ConsolidatedJapanese GAAPNet Sales1,246,048¥ millionYear on year +8.3%Progress 89.0%
Operating profit166,882¥ millionYear on year +18.6%Progress 87.8%
Ordinary income147,803¥ millionYear on year +14.4%Progress 91.8%
Net income attributable to owners of the parent96,697¥ millionYear on year +24.7%Progress 96.7%
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¥135.45
Operating Margin13.4
Financial position at period-end
Total assets3,419,052¥ million
of which net assets 916,600 ¥ millionEquity ratio 26.3%vs. prior year-end +1.0pt
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.
Cash inflows and outflows
Operating+129,480
Investment-164,465
Financials+55,843
Net change+20,858
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥180,546 million
Segment revenueUrban Development Business ¥3,999 100 million (YoY +14.6%), Strategic investment business ¥1,466 100 million (YoY +32.3%), Management and Operations Business ¥3,644 100 million (YoY -0.4%), Real Estate Distribution Business ¥3,647 100 million (YoY +5.6%)
Segment profitUrban Development Business ¥752 100 million (YoY +6.6%), Strategic investment business ¥132 100 million (YoY +156.9%), Management and Operations Business ¥272 100 million (YoY +8.6%), Real Estate Distribution Business ¥644 100 million (YoY +26.7%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥1,400,000 million (YoY +12.4%)
Operating profit¥190,000 million (YoY +13.9%)
Ordinary income¥161,000 million (YoY +8.9%)
Net income¥100,000 million (YoY +3.4%)
Annual Dividend Forecast¥48 → ¥50（+4.2%）
Payout ratio35.7
Shareholder Return PolicyThe company will maintain a dividend payout ratio of at least 35% through the fiscal year ending March 2028 and continue progressive dividend payments.
Factors Behind Changes in Business Performance
Revenue and earnings increased due to sales to investors and other activities against the backdrop of a robust real estate transaction market, strong brokerage operations, and improved occupancy at office and commercial properties, mainly those located across the Greater Shibuya Area.
Disclosure regarding the going concern assumption
Not applicable.
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 0 / Company name None
Material subsequent eventsNot applicable.
Impairment loss¥5,666 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of shares in an affiliated company ¥9,489 million, Other ¥292 million / Extraordinary loss Impairment Losses ¥5,666 million, Business restructuring provision expenses ¥3,365 million, Losses from natural disasters ¥1,303 million, Other ¥116 million
Depreciation and amortization¥68,595 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End719,830,974 shares
Treasury Shares at Period-End7,096,777 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025 to 31 March 2026 |
| Net Sales | ¥1,246,048 million (YoY +8.3%) |
| Operating profit | ¥166,882 million (YoY +18.6%) |
| Ordinary income | ¥147,803 million (YoY +14.4%) |
| Profit attributable to owners of the parent | ¥96,697 million (YoY +24.7%) |
| Net income per share | ¥135.45 |
| Operating Margin | 13.4 |
| Equity ratio | End of the current fiscal period 26.3 / End of previous period 25.3 |
| Total assets | ¥3,419,052 million |
| Net assets | ¥916,600 million |
| Cash flows from operating activities | ¥129,480 million |
| Cash flows from investing activities | ¥-164,465 million |
| Cash flows from financing activities | ¥55,843 million |
| Cash and cash equivalents at end of period | ¥180,546 million |
| Full-year earnings forecast | Net Sales ¥1,400,000 million (YoY +12.4%) / Operating profit ¥190,000 million (YoY +13.9%) / Ordinary income ¥161,000 million (YoY +8.9%) / Net income ¥100,000 million (YoY +3.4%) |
| Annual Dividend Forecast | ¥48 → ¥50（+4.2%） |
| Payout ratio | 35.7 |
| Shareholder Return Policy | The company will maintain a dividend payout ratio of at least 35% through the fiscal year ending March 2028 and continue progressive dividend payments. |
| Segment revenue | Urban Development Business ¥3,999 100 million (YoY +14.6%), Strategic investment business ¥1,466 100 million (YoY +32.3%), Management and Operations Business ¥3,644 100 million (YoY -0.4%), Real Estate Distribution Business ¥3,647 100 million (YoY +5.6%) |
| Segment profit | Urban Development Business ¥752 100 million (YoY +6.6%), Strategic investment business ¥132 100 million (YoY +156.9%), Management and Operations Business ¥272 100 million (YoY +8.6%), Real Estate Distribution Business ¥644 100 million (YoY +26.7%) |
| Depreciation and amortization | ¥68,595 million |
| Impairment loss | ¥5,666 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of shares in an affiliated company ¥9,489 million, Other ¥292 million / Extraordinary loss Impairment Losses ¥5,666 million, Business restructuring provision expenses ¥3,365 million, Losses from natural disasters ¥1,303 million, Other ¥116 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| 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 0 / Company name None |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 719,830,974 shares |
| Treasury Shares at Period-End | 7,096,777 shares |
| Factors Behind Changes in Business Performance | Revenue and earnings increased due to sales to investors and other activities against the backdrop of a robust real estate transaction market, strong brokerage operations, and improved occupancy at office and commercial properties, mainly those located across the Greater Shibuya Area. |
Items this document does not state (3)
Revision to Earnings ForecastRegional 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.This was due to sales to investors and other activities against the backdrop of a robust real estate transaction market, strong brokerage operations, and improved occupancy at office and commercial properties, mainly those located across the Greater Shibuya Area.
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.