Worth reading
58In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
2
Decrease in planned number of properties to be acquired (properties)Wording
Conditional
How definitive the wording is.Contents of this document
Summary of Q&ASecond quarter of the fiscal year ending December 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Gross Profit MarginRegeneration Business assumption: 22%. The previous year's actual result was above 30%; no year-on-year change was specified
Results for the three months of the current quarterThe Land Planning Business planned 6 sales in the second quarter and completed 2
Full-year earnings forecastRegeneration Business: revenue of ¥16.0 billion and gross profit of ¥3.5 billion. Forecast annual dividend per share: ¥100
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing within the planned range and on track to achieve the full-year planKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
Changes to the sales timing for the Land Planning Business, larger properties and the number of properties to be acquired in the Regeneration Business, smoothing quarterly earnings, the Regeneration Business profit margin, the risk of passing on construction cost increases, the equity ratio, revisions to the earnings forecast, dividend policy, and competition for talentAssumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Regeneration Business revenue of ¥16.0 billion, gross profit of ¥3.5 billion, and gross margin of 22%. Dividend payout ratio of 30% and forecast annual dividend of ¥100 per shareNew initiatives
Integration and enlargement of plots through the acquisition of adjoining land in the Land Planning Business, acquisition of larger properties in the Regeneration Business, and revision of the planned number of properties to be acquired from 12 to 10Key KPIsA metric the company considers important as a management benchmark.
Equity ratio: 23.7%; medium-term management plan KPI target: approximately 30%. Regeneration Business gross margin assumption: 22%Unit price and quantity metricsThese figures show sales broken down by price and volume.
The planned number of properties to be acquired in the Regeneration Business has been revised from 12 to 10, with a larger transaction value per propertySegment results
Land Planning Business: second-quarter sales plan of 6 properties, with 2 completed. Regeneration Business: revenue and profit are expected to be secured in line with the planMedium-term management plan targets
Under GLM100, a gross margin of 20% for the Regeneration Business and an equity ratio of approximately 30%Financial targets
Equity ratio: 23.7% at the end of the second quarter, compared with 31.3% in the previous fiscal year; medium-term management plan KPI: approximately 30%Annual Dividend
¥100 per share. Interim and year-end breakdown: not disclosedPayout ratio
30%. The basic policy is to increase dividends progressively| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Gross Profit Margin | Regeneration Business assumption: 22%. The previous year's actual result was above 30%; no year-on-year change was specified |
| Results for the three months of the current quarter | The Land Planning Business planned 6 sales in the second quarter and completed 2 |
| Full-year earnings forecast | Regeneration Business: revenue of ¥16.0 billion and gross profit of ¥3.5 billion. Forecast annual dividend per share: ¥100 |
| Self-assessment against the plan | Progressing within the planned range and on track to achieve the full-year plan |
| Segment results | Land Planning Business: second-quarter sales plan of 6 properties, with 2 completed. Regeneration Business: revenue and profit are expected to be secured in line with the plan |
| Key KPIs | Equity ratio: 23.7%; medium-term management plan KPI target: approximately 30%. Regeneration Business gross margin assumption: 22% |
| Unit price and quantity metrics | The planned number of properties to be acquired in the Regeneration Business has been revised from 12 to 10, with a larger transaction value per property |
| Assumptions Underlying the Business Outlook | Regeneration Business revenue of ¥16.0 billion, gross profit of ¥3.5 billion, and gross margin of 22%. Dividend payout ratio of 30% and forecast annual dividend of ¥100 per share |
| Medium-term management plan targets | Under GLM100, a gross margin of 20% for the Regeneration Business and an equity ratio of approximately 30% |
| Financial targets | Equity ratio: 23.7% at the end of the second quarter, compared with 31.3% in the previous fiscal year; medium-term management plan KPI: approximately 30% |
| Annual Dividend | ¥100 per share. Interim and year-end breakdown: not disclosed |
| Payout ratio | 30%. The basic policy is to increase dividends progressively |
| Key points of the Q&A | Changes to the sales timing for the Land Planning Business, larger properties and the number of properties to be acquired in the Regeneration Business, smoothing quarterly earnings, the Regeneration Business profit margin, the risk of passing on construction cost increases, the equity ratio, revisions to the earnings forecast, dividend policy, and competition for talent |
| New initiatives | Integration and enlargement of plots through the acquisition of adjoining land in the Land Planning Business, acquisition of larger properties in the Regeneration Business, and revision of the planned number of properties to be acquired from 12 to 10 |
Items this document does not state (15)
Net SalesOperating profitOrdinary incomeNet incomeOperating profit marginSelling, general and administrative expensesProgress against full-year forecastBreakdown of Factors Affecting the ChangeNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / Share
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 Land Planning Business, acquisitions of adjoining land have progressed beyond expectations. The sales timing for certain projects was moved to the second half of the fiscal year so that the base land and adjoining land could be integrated and sold as larger, higher-value plots. In the Regeneration Business, the company plans to handle larger properties while reducing the planned number of properties to be acquired, in order to increase the transaction value and profit per property and improve sales efficiency and productivity.
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.