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
-57.3
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending June 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥49,617 million-23.4%
Operating profit¥1,120 million-57.3%
Ordinary income¥1,120 million-61.9%
Net income¥1,452 million -38.0%net income attributable to owners of the parent
Selling, general and administrative expenses¥9,651 million
Gross Profit Margin
Rate21.7%
Year-on-year change (points)Down 0.8 percentage points year on year
Operating profit margin
Rate2.3%
Year-on-year change (points)Down 1.7 percentage points year on year
Full-year earnings forecast
Net Sales
¥45,000 million
Operating profit
¥1,400 million
Ordinary income
¥1,350 million
Profit before income taxes
¥1,350 million
Net income for the current fiscal year
¥891 million
Earnings per share
¥44.62
Dividend per share
¥46
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。
Net Sales90.2% of the initial forecast for the fiscal year ended June 2026
Operating profit38.6%
Ordinary income37.3%
Profit attributable to owners of the parent52.4%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Finished below the initial planNew initiatives
- Added business-purpose revolving guarantee products to the finance business lineup
- Partnership with Setagaya Shinkin Bank
- Plans to add 2 locations to the real estate sales business by year-end
- Strengthen sales by establishing priority areas in urban regions for the franchise business
Key KPIsA metric the company considers important as a management benchmark.
- Number of sales personnel (average during the period)91.1 peopleYear on year against the same period last yearIncreased from 59.3 people
- Used-home revenue¥9,954 millionYear on year against the same period last year+12.4%
- Number of acquisition contractsYear on year against the same period last year+16.5%
- Number of properties sold (real estate sales business)1,309 EngagementsYear on year against the same period last year+10.3%
- Reverse mortgage guarantee balance¥35,344 million
- Cumulative number of franchise locations733 LocationYear on year against the same period last yearUp 8 locations from the end of the previous fiscal year
Segment results
Franchise Business
Net Sales
¥3,324 million+3.5%
Operating profit
¥1,928 million+0.4%
Real Estate Sales
Net Sales
¥35,246 million-10.8%
Operating profit
¥1,713 million-32.7%
Financial Business
Net Sales
¥641 million+13.8%
Operating profit
¥262 million+46.3%
House Leaseback Business
Net Sales
¥9,595 million-50.7%
Operating profit
¥889 million-60.7%
Other
Net Sales
¥1,011 million-54.0%
Operating profit
¥5 million-97.9%
Medium-term management plan targets
Target fiscal yearFiscal year ending June 2030
Net Sales¥80.0 billion
Ordinary income¥8.0 billion (ordinary profit margin of 10%)
Net income for the current fiscal year¥5.30 billion
Equity ratioAt least 30%
ROIC6.0% or higher
Payout ratioAt least 30%
Financial targets
ROIC
Target6.0% or higher
Actual results for the fiscal year ended June 20261.2%
Equity ratio
TargetAt least 30%
Actual results for the fiscal year ended June 202628.0%
Debt-to-equity ratio
Actual results for the fiscal year ended June 20262.3x
Market Size / Share
Used-home distribution share19.9% in 2025, 22.8% in 2030, and 26.3% in 2035 (forecast)
House Do brokerage transactions32,076 cases
Number of stores and locations
End of period733 cumulative franchise locations and 637 cumulative store openings
Number of store openings and closures during the period111 new store openings, up 13 locations from the end of the previous fiscal year
Number of employees
Average sales personnel during the period: 91.1 people. Additional investment in human resources was made to secure the targeted headcount.Annual Dividend
Annual dividend per share¥46 (forecast)
Interim and Year-End BreakdownForecast year-end dividend: ¥46. Interim dividend: not disclosed
Payout ratio
Basic level of 30% or more; forecast of 63.2% for the fiscal year ending June 2026 and 103.1% for the fiscal year ending June 2027| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending June 2026 |
| Net Sales | ¥49,617 million (YoY -23.4%) |
| Operating profit | ¥1,120 million (YoY -57.3%) |
| Ordinary income | ¥1,120 million (YoY -61.9%) |
| Net income | ¥1,452 million (net income attributable to owners of the parent) (YoY -38.0%) |
| Gross Profit Margin | Rate 21.7% / Year-on-year change (points) Down 0.8 percentage points year on year |
| Operating profit margin | Rate 2.3% / Year-on-year change (points) Down 1.7 percentage points year on year |
| Selling, general and administrative expenses | ¥9,651 million |
| Full-year earnings forecast | Net Sales ¥45,000 million / Operating profit ¥1,400 million / Ordinary income ¥1,350 million / Profit before income taxes ¥1,350 million / Net income for the current fiscal year ¥891 million / Earnings per share ¥44.62 / Dividend per share ¥46 |
| Progress against full-year forecast | Net Sales 90.2% of the initial forecast for the fiscal year ended June 2026 / Operating profit 38.6% / Ordinary income 37.3% / Profit attributable to owners of the parent 52.4% |
| Self-assessment against the plan | Finished below the initial plan |
| Segment results | Franchise Business Net Sales ¥3,324 million (YoY +3.5%) / Operating profit ¥1,928 million (YoY +0.4%) / Real Estate Sales Net Sales ¥35,246 million (YoY -10.8%) / Operating profit ¥1,713 million (YoY -32.7%) / Financial Business Net Sales ¥641 million (YoY +13.8%) / Operating profit ¥262 million (YoY +46.3%) / House Leaseback Business Net Sales ¥9,595 million (YoY -50.7%) / Operating profit ¥889 million (YoY -60.7%) / Other Net Sales ¥1,011 million (YoY -54.0%) / Operating profit ¥5 million (YoY -97.9%) |
| Key KPIs | Indicator name Number of sales personnel (average during the period) / Value 91.1 people / Year on year against the same period last year Increased from 59.3 people, Indicator name Used-home revenue / Value ¥9,954 million / Year on year against the same period last year ¥12.4 million, Indicator name Number of acquisition contracts / Value Not disclosed / Year on year against the same period last year 16.5 sites, Indicator name Number of properties sold (real estate sales business) / Value 1,309 Engagements / Year on year against the same period last year 10.3 Engagements, Indicator name Reverse mortgage guarantee balance / Value ¥35,344 million / Year on year against the same period last year Not disclosed, Indicator name Cumulative number of franchise locations / Value 733 Location / Year on year against the same period last year Up 8 locations from the end of the previous fiscal year |
| Number of stores and locations | End of period 733 cumulative franchise locations and 637 cumulative store openings / Number of store openings and closures during the period 111 new store openings, up 13 locations from the end of the previous fiscal year |
| Number of employees | Average sales personnel during the period: 91.1 people. Additional investment in human resources was made to secure the targeted headcount. |
| Medium-term management plan targets | Target fiscal year Fiscal year ending June 2030 / Net Sales ¥80.0 billion / Ordinary income ¥8.0 billion (ordinary profit margin of 10%) / Net income for the current fiscal year ¥5.30 billion / Equity ratio At least 30% / ROIC 6.0% or higher / Payout ratio At least 30% |
| Financial targets | ROIC Target 6.0% or higher / Actual results for the fiscal year ended June 2026 1.2% / Equity ratio Target At least 30% / Actual results for the fiscal year ended June 2026 28.0% / Debt-to-equity ratio Actual results for the fiscal year ended June 2026 2.3x |
| Annual Dividend | Annual dividend per share ¥46 (forecast) / Interim and Year-End Breakdown Forecast year-end dividend: ¥46. Interim dividend: not disclosed |
| Payout ratio | Basic level of 30% or more; forecast of 63.2% for the fiscal year ending June 2026 and 103.1% for the fiscal year ending June 2027 |
| Market Size / Share | Used-home distribution share 19.9% in 2025, 22.8% in 2030, and 26.3% in 2035 (forecast) / House Do brokerage transactions 32,076 cases |
| New initiatives | Added business-purpose revolving guarantee products to the finance business lineup, Partnership with Setagaya Shinkin Bank, Plans to add 2 locations to the real estate sales business by year-end, Strengthen sales by establishing priority areas in urban regions for the franchise business |
Items this document does not state (9)
Results for the three months of the current quarterBreakdown of Factors Affecting the ChangeUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAcquisition 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 cited upfront investment to secure personnel for its growth-driving real estate sales business, a greater-than-expected decline in earnings in the House Leaseback business, some transfers to the HLB Fund that have not yet been realized, the disposal of long-stagnant inventory, the carryover of large projects, and the time required to retain and develop personnel as factors behind the shortfall.
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.
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