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Presentation materials on financial results3480J.S.B.Co.,Ltd.Real estate

Second-Quarter Financial Results Presentation for the Fiscal Year Ending October 2026

In the second quarter of the fiscal year ending October 2026, revenue and profit increased, supported by growth in the number of properties under management and a high occupancy rate. Net income rose 28.8% year on year. Subject to the successful completion of the tender offer, the year-end dividend forecast was revised from ¥115 to no dividend.

Worth reading
58In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
8.4
Year-on-year revenue growth (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials on financial resultsSecond quarter of the fiscal year ending October 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥45,837 million+8.4%
Operating profit¥8,653 million+9.1%
Ordinary income¥8,507 million+10.4%
Net income¥6,654 million+28.8%
Gross Profit Margin25.0%
Operating profit margin18.9%
Selling, general and administrative expenses¥2,810 million
Full-year earnings forecast
Net Sales
¥81,826 million
Operating profit
¥9,159 million
Ordinary income
¥8,731 million
Net income
¥5,935 million
Capital expenditures
¥12,978 million
Depreciation and amortization
¥2,174 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Revenue increase+¥5,781 million
  • Increase in costs of sales-¥4,730 million
  • Decrease in selling, general and administrative expenses+¥450 million
  • Leased-property rents and other expenses+¥3,140 million
  • Depreciation+¥194 million
  • Food-material purchases+¥303 million
  • One-time payments to employees-¥189 million and -¥47 million
  • Estimated amount related to additional tax burden-¥997 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Properties under management
    AssumptionsIncrease of approximately 4,000 properties
  • Raw-material prices and construction costs
    AssumptionsAssumed to increase
New initiatives
  • Improving capital efficiency through continued sales of company-owned properties
  • Considering the use of generative AI
  • Full-scale implementation of the succession plan
  • Strengthening the Innovation Promotion Office
  • Beginning operations at energy-efficient properties
  • Student support initiatives, including disaster-preparedness and career events
Key KPIsA metric the company considers important as a management benchmark.
  • Units under management103,040 units
    Year on year against the same period last year+3.8%
  • Occupancy Rate99.9 %
    Year on year against the same period last year0.0 percentage points
  • Number of contracts concluded24,795 Engagements
    Year on year against the same period last year△1.8%
  • Engagement score70.5 Points
    Year on year against the same period last year+5.6 percentage points
  • IT-based explanations of important matters17,273 Engagements
    Year on year against the same period last yearApproximately 1.4x
Medium-term management plan targets
  • Revenue
    Target fiscal yearFY2026
    Target value¥7.88 billion (initial plan), ¥8.18 billion (revised plan)
  • Operating profit
    Target fiscal yearFY2026
    Target value¥870 million (initial plan), ¥910 million (revised plan)
  • Ordinary profit
    Target fiscal yearFY2026
    Target value¥850 million (initial plan), ¥870 million (revised plan)
  • Profit attributable to owners of the parent
    Target fiscal yearFY2026
    Target value¥5.6 billion
Financial targets
  • ROE
    Target15% or higher
    FY2023 actual16.5%
  • ROIC
    Target8% or higher
    FY2023 actual9.8%
  • Equity ratio
    Target40% or more
    FY2023 actual46.5%
  • Current ratio
    Target120% or higher
    FY2023 actual116.7%
  • D/E ratio
    Actual results0.69
Number of employees
Number of Employees1,221 People
Additional informationNumber of employees covered by the engagement survey
Capital expenditures
¥7,660 million second-quarter actual, cash flow basis
Annual Dividend
Annual dividend per share¥0
Interim¥0
End of period¥0
Contents of this document
ItemDetails
Document typePresentation materials on financial results
Fiscal Period CoveredSecond quarter of the fiscal year ending October 2026
Net Sales¥45,837 million (YoY +8.4%)
Operating profit¥8,653 million (YoY +9.1%)
Ordinary income¥8,507 million (YoY +10.4%)
Net income¥6,654 million (YoY +28.8%)
Gross Profit Margin25.0%
Operating profit margin18.9%
Selling, general and administrative expenses¥2,810 million
Full-year earnings forecastNet Sales ¥81,826 million / Operating profit ¥9,159 million / Ordinary income ¥8,731 million / Net income ¥5,935 million / Capital expenditures ¥12,978 million / Depreciation and amortization ¥2,174 million
Breakdown of Factors Affecting the ChangeFactors Revenue increase / Amount +¥5,781 million, Factors Increase in costs of sales / Amount -¥4,730 million, Factors Decrease in selling, general and administrative expenses / Amount +¥450 million, Factors Leased-property rents and other expenses / Amount +¥3,140 million, Factors Depreciation / Amount +¥194 million, Factors Food-material purchases / Amount +¥303 million, Factors One-time payments to employees / Amount -¥189 million and -¥47 million, Factors Estimated amount related to additional tax burden / Amount -¥997 million
Key KPIsIndicator name Units under management / Value 103,040 units / Year on year against the same period last year +3.8%, Indicator name Occupancy Rate / Value 99.9 % / Year on year against the same period last year 0.0 percentage points, Indicator name Number of contracts concluded / Value 24,795 Engagements / Year on year against the same period last year △1.8%, Indicator name Engagement score / Value 70.5 Points / Year on year against the same period last year +5.6 percentage points, Indicator name IT-based explanations of important matters / Value 17,273 Engagements / Year on year against the same period last year Approximately 1.4x
Number of employeesNumber of Employees 1,221 People / Additional information Number of employees covered by the engagement survey
Assumptions Underlying the Business OutlookItem Properties under management / Assumptions Increase of approximately 4,000 properties, Item Raw-material prices and construction costs / Assumptions Assumed to increase
Medium-term management plan targetsItem Revenue / Target fiscal year FY2026 / Target value ¥7.88 billion (initial plan), ¥8.18 billion (revised plan), Item Operating profit / Target fiscal year FY2026 / Target value ¥870 million (initial plan), ¥910 million (revised plan), Item Ordinary profit / Target fiscal year FY2026 / Target value ¥850 million (initial plan), ¥870 million (revised plan), Item Profit attributable to owners of the parent / Target fiscal year FY2026 / Target value ¥5.6 billion
Financial targetsIndicator ROE / Target 15% or higher / FY2023 actual 16.5%, Indicator ROIC / Target 8% or higher / FY2023 actual 9.8%, Indicator Equity ratio / Target 40% or more / FY2023 actual 46.5%, Indicator Current ratio / Target 120% or higher / FY2023 actual 116.7%, Indicator D/E ratio / Actual results 0.69
Annual DividendAnnual dividend per share ¥0 / Interim ¥0 / End of period ¥0
Capital expenditures¥7,660 million (second-quarter actual, cash flow basis)
New initiativesImproving capital efficiency through continued sales of company-owned properties, Considering the use of generative AI, Full-scale implementation of the succession plan, Strengthening the Innovation Promotion Office, Beginning operations at energy-efficient properties, Student support initiatives, including disaster-preparedness and career events
Items this document does not state (12)
Results for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planSegment resultsUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey 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 earnings base expanded as the number of properties under management increased by 3,740 year on year and the company maintained a high occupancy rate of 99.9%. The impact was contained through price pass-through, while expenses increased with the expansion of operations, including leased-property rents, maintenance costs, food-material purchases and depreciation. Net income included gains on the sale of company-owned properties and investment securities, which were recorded as extraordinary income.

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Second-Quarter Financial Results Presentation for the Fiscal Year Ending October 2026 | J.S.B.Co.,Ltd. (3480) timely disclosure | Komori