Contents of this document
Earnings presentation materialsThird 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)
Net Sales¥394 100 million-24.1%
Ordinary income¥30 100 million-46.6%
Gross Profit Margin19.8
Results for the three months of the current quarterQuarterly trends in revenue and ordinary profit are provided. In the third quarter of the fiscal year ending December 2026, revenue was ¥11.01 billion and ordinary profit was ¥318 million.
Full-year earnings forecast
Net Sales
¥80,000 million
Gross profit
¥15,600 million
Operating profit
¥9,200 million
Ordinary income
¥8,000 million
Net income for the current fiscal year
¥5,700 million
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 Sales49.3
Gross profit49.9
Ordinary income37.6
Development Business revenue69.4
Units sold in development projects75.5
Land Planning Business revenue24
Number of Land Planning Business sales36
Regeneration Business revenue47.4
Number of buildings sold by the Regeneration Business60
Number of buildings acquired by the Regeneration Business81.8
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The land planning business is positioned to achieve a full-year result well above plan. Revenue in the regeneration business is expected to exceed plan, while gross profit is expected to be broadly in line with plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Development Business
Contract cancellations and penalties for individual projectsApproximately ¥600 million decrease in gross profit
Change in completion scheduleApproximately ¥500 million decrease in gross profit
Land Planning Business
Strong adjacent-land acquisitionsGross profit increased by ¥2.2 billion, from ¥4 billion before the revision to ¥6.2 billion after the revision.
Regeneration Business
Earlier-than-planned salesRevenue increased by ¥5 billion, from ¥16 billion before the revision to ¥21 billion after the revision.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The forecast is based on the status of sales contracts, sales timing and progress in acquiring adjoining land. The figures are 599 development units, 25 land planning projects, 10 regeneration properties for sale and 11 properties acquired.New initiatives
- Establishing and strengthening a banking network
- Acquiring land using real estate big data
- Searching for investment partners
Key KPIsA metric the company considers important as a management benchmark.
Number of residences sold
452 units-56.4%
Hotels sold
0 properties
Number of land lots sold
9 postings0.0%
Number of buildings sold by the Regeneration Business
6 properties+100.0%
Number of buildings acquired by the Regeneration Business
9 properties+80.0%
Segment results
Development Business
Net Sales¥22.8 billion
Units sold452 units
Hotels sold0 properties
Land Planning Business
Net Sales¥6.2 billion
Number of sales9 items
Regeneration Business
Net Sales¥9.9 billion
Number of homes sold6 properties
Properties acquired9 buildings
Medium-term management plan targets
GLM100
Target fiscal yearFY2027.12
Net Sales¥100 billion
Gross profit¥17.0 billion
Ordinary income¥10 billion
GLM1000
Target fiscal year2040
Ordinary income¥100 billion
Financial targets
Equity ratioAt least 30% (31.3% actual for the fiscal year ended December 2025)
ROEAt least 25% (34.8% actual for the fiscal year ended December 2025)
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Negative impact of approximately ¥600 million in the development business, including the cancellation of individual project contracts and penalties, and approximately ¥500 million due to changes in completion timing.Market Size / Share
Latent demand for Japanese real estate among institutional investors¥3.3 trillion
Annual Dividend
Annual dividend per share¥110.0
Before revision¥100.0
| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | ¥394 100 million (YoY -24.1%) |
| Ordinary income | ¥30 100 million (YoY -46.6%) |
| Gross Profit Margin | 19.8 |
| Results for the three months of the current quarter | Quarterly trends in revenue and ordinary profit are provided. In the third quarter of the fiscal year ending December 2026, revenue was ¥11.01 billion and ordinary profit was ¥318 million. |
| Full-year earnings forecast | Net Sales ¥80,000 million / Gross profit ¥15,600 million / Operating profit ¥9,200 million / Ordinary income ¥8,000 million / Net income for the current fiscal year ¥5,700 million |
| Progress against full-year forecast | Net Sales 49.3 / Gross profit 49.9 / Ordinary income 37.6 / Development Business revenue 69.4 / Units sold in development projects 75.5 / Land Planning Business revenue 24 / Number of Land Planning Business sales 36 / Regeneration Business revenue 47.4 / Number of buildings sold by the Regeneration Business 60 / Number of buildings acquired by the Regeneration Business 81.8 |
| Self-assessment against the plan | The land planning business is positioned to achieve a full-year result well above plan. Revenue in the regeneration business is expected to exceed plan, while gross profit is expected to be broadly in line with plan. |
| Segment results | Development Business Net Sales ¥22.8 billion / Units sold 452 units / Hotels sold 0 properties / Land Planning Business Net Sales ¥6.2 billion / Number of sales 9 items / Regeneration Business Net Sales ¥9.9 billion / Number of homes sold 6 properties / Properties acquired 9 buildings |
| Breakdown of Factors Affecting the Change | Development Business Contract cancellations and penalties for individual projects Approximately ¥600 million decrease in gross profit / Change in completion schedule Approximately ¥500 million decrease in gross profit / Land Planning Business Strong adjacent-land acquisitions Gross profit increased by ¥2.2 billion, from ¥4 billion before the revision to ¥6.2 billion after the revision. / Regeneration Business Earlier-than-planned sales Revenue increased by ¥5 billion, from ¥16 billion before the revision to ¥21 billion after the revision. |
| Key KPIs | Number of residences sold 452 units (YoY -56.4%) / Hotels sold 0 properties / Number of land lots sold 9 postings (YoY 0.0%) / Number of buildings sold by the Regeneration Business 6 properties (YoY +100.0%) / Number of buildings acquired by the Regeneration Business 9 properties (YoY +80.0%) |
| Assumptions Underlying the Business Outlook | The forecast is based on the status of sales contracts, sales timing and progress in acquiring adjoining land. The figures are 599 development units, 25 land planning projects, 10 regeneration properties for sale and 11 properties acquired. |
| Risk amount incorporated into the outlook | Negative impact of approximately ¥600 million in the development business, including the cancellation of individual project contracts and penalties, and approximately ¥500 million due to changes in completion timing. |
| Medium-term management plan targets | GLM100 Target fiscal year FY2027.12 / Net Sales ¥100 billion / Gross profit ¥17.0 billion / Ordinary income ¥10 billion / GLM1000 Target fiscal year 2040 / Ordinary income ¥100 billion |
| Financial targets | Equity ratio At least 30% (31.3% actual for the fiscal year ended December 2025) / ROE At least 25% (34.8% actual for the fiscal year ended December 2025) |
| Annual Dividend | Annual dividend per share ¥110.0 / Before revision ¥100.0 |
| Market Size / Share | Latent demand for Japanese real estate among institutional investors ¥3.3 trillion |
| New initiatives | Establishing and strengthening a banking network, Acquiring land using real estate big data, Searching for investment partners |
Items this document does not state (12)
Operating profitNet incomeOperating profit marginSelling, general and administrative expensesUnit price and quantity metricsNumber of stores and locationsNumber of employeesPayout ratioAcquisition 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.