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How definitive the wording is.Contents of this document
Summary of Q&AFull year ended August 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Gross Profit MarginDown from the fiscal year ended August 2025. The specific rate and year-on-year change are Not disclosed
Full-year earnings forecastNet income target of ¥24 billion for the fiscal year ending August 2027. However, the full-year earnings forecast by line item is Not disclosed
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
ROE targets and scope for a capital increase, factors behind the weak share price and shareholder returns, the competitive advantages of the U.S. hotel business, asset turnover and REIT P/NAV, progress toward the net income target for the fiscal year ending August 2027, the impact of higher interest rates, leasing and impairment risks for properties in Dubai, development investors’ investment appetite, the decline in gross profit margin, negative goodwill, accounting treatment and personal relationships relating to the Miami project, businesses driving growth in the fiscal year ending August 2027, adequacy of inventories, revisions to the medium-term management plan, business diversification, and the representative director’s shareholdingBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Decline in gross profit margin: the reversal of the high level of success fees generated in the fiscal year ended August 2025 when 3 domestic businesses completed their transition to the operating phase. Increase in interest expense: mainly due to higher borrowings related to overseas projects
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Conservative assumptions that take into account future growth in borrowings and further interest rate increases. However, specific figures are Not disclosedNew initiatives
Multi-location expansion of BASE LAYER HOTEL, mixed-use development through the acquisition of shares in Wakayama Marina City, development of dry automated warehouses, launch of the data center business, and expansion of the overseas pipeline centered on North AmericaKey KPIsA metric the company considers important as a management benchmark.
RevPAR: up nearly 15% year on year. Inventories: ¥71,214 million. Inventory turnover: approximately 2 times annuallyMedium-term management plan targets
Aiming for ROE of 30% in the fiscal year ending August 2029. The ROE target is 25% or higher, with a goal of 30%. Net income target of ¥24 billion for the fiscal year ending August 2027Financial targets
ROE of 25% or higher, with a goal of 30%. Aiming for ROE of 30% in the fiscal year ending August 2029Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Amount Not disclosed. The company explained that it has incorporated the impact of higher interest rates as a buffer that can be absorbed within its earnings forecastPayout ratio
Dividend payout ratio: Not disclosed. The company will consider shareholder returns, but is prioritizing growth investment at present| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | Full year ended August 2026 |
| Gross Profit Margin | Down from the fiscal year ended August 2025. The specific rate and year-on-year change are Not disclosed |
| Full-year earnings forecast | Net income target of ¥24 billion for the fiscal year ending August 2027. However, the full-year earnings forecast by line item is Not disclosed |
| Breakdown of Factors Affecting the Change | Decline in gross profit margin: the reversal of the high level of success fees generated in the fiscal year ended August 2025 when 3 domestic businesses completed their transition to the operating phase. Increase in interest expense: mainly due to higher borrowings related to overseas projects |
| Key KPIs | RevPAR: up nearly 15% year on year. Inventories: ¥71,214 million. Inventory turnover: approximately 2 times annually |
| Assumptions Underlying the Business Outlook | Conservative assumptions that take into account future growth in borrowings and further interest rate increases. However, specific figures are Not disclosed |
| Risk amount incorporated into the outlook | Amount Not disclosed. The company explained that it has incorporated the impact of higher interest rates as a buffer that can be absorbed within its earnings forecast |
| Medium-term management plan targets | Aiming for ROE of 30% in the fiscal year ending August 2029. The ROE target is 25% or higher, with a goal of 30%. Net income target of ¥24 billion for the fiscal year ending August 2027 |
| Financial targets | ROE of 25% or higher, with a goal of 30%. Aiming for ROE of 30% in the fiscal year ending August 2029 |
| Payout ratio | Dividend payout ratio: Not disclosed. The company will consider shareholder returns, but is prioritizing growth investment at present |
| Key points of the Q&A | ROE targets and scope for a capital increase, factors behind the weak share price and shareholder returns, the competitive advantages of the U.S. hotel business, asset turnover and REIT P/NAV, progress toward the net income target for the fiscal year ending August 2027, the impact of higher interest rates, leasing and impairment risks for properties in Dubai, development investors’ investment appetite, the decline in gross profit margin, negative goodwill, accounting treatment and personal relationships relating to the Miami project, businesses driving growth in the fiscal year ending August 2027, adequacy of inventories, revisions to the medium-term management plan, business diversification, and the representative director’s shareholding |
| New initiatives | Multi-location expansion of BASE LAYER HOTEL, mixed-use development through the acquisition of shares in Wakayama Marina City, development of dry automated warehouses, launch of the data center business, and expansion of the overseas pipeline centered on North America |
Items this document does not state (18)
Net SalesOperating profitOrdinary incomeNet incomeOperating profit marginSelling, general and administrative expensesThree months of the current quarterProgress against full-year forecastSelf-assessment against the planSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesAnnual DividendAcquisition 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.The company published the contents of the earnings briefing for institutional investors and analysts, along with answers to investor inquiries regarding its financial results and earnings forecasts, from the perspective of fair disclosure.
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.