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How definitive the wording is.Contents of this document
Summary of Q&AFY ending August 2026, third quarter6 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Gross Profit MarginLower in the third quarter compared with the previous period and the first and second quarters; the percentage is Not disclosed
Results for the three months of the current quarterThe company explained that profit declined in the third quarter alone, but the figure is Not disclosed
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Projects scheduled for sale or monetization in the fourth quarter are generally progressing as plannedKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
The seasonality of the third-quarter decline in profit, progress and delay risks for fourth-quarter projects, the accumulation of real estate held for sale, factors behind the lower gross profit margin, factors behind the increase in interest expense, buyers' yield levels, revisions to the Medium-Term Management Plan, and the impact of the situation in the Middle East and rising material pricesBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The concentration of property sales and deliveries in the fourth quarter, the mix of projects being monetized, higher borrowings for overseas projects, and some Dubai projects being pushed back due to the situation in the Middle East; the amount is Not disclosed
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The timing of property sales and deliveries, the impact of rising naphtha prices and other factors on the prices of certain materials, and conservative estimates for construction costsMedium-term management plan targets
No revision is planned for the target figures under the Second Medium-Term Management Plan; specific targets are Not disclosedMarket Size / Share
The company explained that cap rates in the domestic real estate market remain low, but the figure is Not disclosed| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | FY ending August 2026, third quarter |
| Gross Profit Margin | Lower in the third quarter compared with the previous period and the first and second quarters; the percentage is Not disclosed |
| Results for the three months of the current quarter | The company explained that profit declined in the third quarter alone, but the figure is Not disclosed |
| Self-assessment against the plan | Projects scheduled for sale or monetization in the fourth quarter are generally progressing as planned |
| Breakdown of Factors Affecting the Change | The concentration of property sales and deliveries in the fourth quarter, the mix of projects being monetized, higher borrowings for overseas projects, and some Dubai projects being pushed back due to the situation in the Middle East; the amount is Not disclosed |
| Assumptions Underlying the Business Outlook | The timing of property sales and deliveries, the impact of rising naphtha prices and other factors on the prices of certain materials, and conservative estimates for construction costs |
| Medium-term management plan targets | No revision is planned for the target figures under the Second Medium-Term Management Plan; specific targets are Not disclosed |
| Market Size / Share | The company explained that cap rates in the domestic real estate market remain low, but the figure is Not disclosed |
| Key points of the Q&A | The seasonality of the third-quarter decline in profit, progress and delay risks for fourth-quarter projects, the accumulation of real estate held for sale, factors behind the lower gross profit margin, factors behind the increase in interest expense, buyers' yield levels, revisions to the Medium-Term Management Plan, and the impact of the situation in the Middle East and rising material prices |
Items this document does not state (21)
Net SalesOperating profitOrdinary incomeNet incomeOperating profit marginSelling, general and administrative expensesFull-year earnings forecastProgress against full-year forecastSegment resultsKey KPIsUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogNew initiatives
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 decline in profit for the third quarter alone reflects the nature of the business, in which revenue from property sales and deliveries is concentrated in the fourth quarter. The lower gross profit margin was attributable to the project mix, including the asset types and locations of projects being monetized, rather than primarily to higher construction costs or interest rates. The increase in interest expense was mainly due to higher borrowings for overseas projects. Some Dubai projects will be pushed back due to the situation in the Middle East, but the company expects to absorb the impact through domestic hotel and logistics projects.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.