Worth reading
43Recurring
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
104
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of the fiscal year ending December 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥174 million+148.0%
Operating profit¥-64 million
Ordinary income¥-39 million
Net income¥-41 million profit attributable to owners of the parent
Results for the three months of the current quarter
Net Sales
¥174 million
Operating profit
¥-64 million
Ordinary income
¥-39 million
Net income
¥-41 million profit attributable to owners of the parent
Full-year earnings forecast
Net Sales
¥1,416 million
Operating profit
¥-22 million
Ordinary income
¥-5 million
Profit attributable to owners of the parent
¥104 million
Earnings per share
¥13.34
Year-end dividend
¥1
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Decline from one-time profit recorded in the prior-year periodDetailsDecline from the foreign exchange gain and gain on sale of fixed assets recorded in the prior-year period
- Expenses related to the issuance of share acquisition rights¥26 million
- Shortfall in gross profit from real estate propertiesDetailsGross profit from income-producing properties fell below the initial estimate, resulting in a higher cost ratio
- Provision for loss on orders received in the construction consulting businessDetailsA provision was recorded for projects scheduled for completion from the second quarter onward
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The materials state that real estate market conditions, progress on investment projects, and interest rate and foreign exchange trends, among other factors, could affect results, but the numerical assumptions were not disclosedNew initiatives
- Serial M&A through smart investment
- Automation and acceleration of M&A operations using AI
- Automating non-value-added work with AI and reallocating surplus personnel to customer-facing roles
- Expanding orders received and improving productivity in highly sustainable fields such as disaster prevention and mitigation, dams, rivers, and erosion control
Key KPIsA metric the company considers important as a management benchmark.
Revenue was ¥186 million in Q1 2021, the second-highest level in the past five yearsSegment results
Construction Consulting Business
Net Sales
Q1 2025¥2,266 thousand
Q1 2026¥16,161 thousand
Change in amount¥13,895 thousand
Operating profit
Q1 2025¥-19,021 thousand
Q1 2026¥-33,645 thousand
Change in amount¥-14,625 thousand
Fashion Brand Business
Net Sales
Q1 2025¥52,803 thousand
Q1 2026¥8,703 thousand
Change in amount¥-44,100 thousand
Operating profit
Q1 2025¥7,919 thousand
Q1 2026¥5,574 thousand
Change in amount¥-2,345 thousand
Real Estate Investment Business
Net Sales
Q1 2025¥15,212 thousand
Q1 2026¥149,492 thousand
Change in amount¥134,280 thousand
Operating profit
Q1 2025¥347 thousand
Q1 2026¥26,024 thousand
Change in amount¥25,677 thousand
Number of employees
13 People consolidated basis, as of 31 December 2025
Average number of temporary employees5
Annual Dividend
1 Yen per share
Year-end dividend1
Acquisition of treasury shares
200,000 treasury shares were cancelled. The repurchase limit and period were not disclosed| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending December 2026 |
| Net Sales | ¥174 million (YoY +148.0%) |
| Operating profit | ¥-64 million |
| Ordinary income | ¥-39 million |
| Net income | ¥-41 million (profit attributable to owners of the parent) |
| Results for the three months of the current quarter | Net Sales ¥174 million / Operating profit ¥-64 million / Ordinary income ¥-39 million / Net income ¥-41 million (profit attributable to owners of the parent) |
| Full-year earnings forecast | Net Sales ¥1,416 million / Operating profit ¥-22 million / Ordinary income ¥-5 million / Profit attributable to owners of the parent ¥104 million / Earnings per share ¥13.34 / Year-end dividend ¥1 |
| Segment results | Construction Consulting Business Net Sales Q1 2025 ¥2,266 thousand / Q1 2026 ¥16,161 thousand / Change in amount ¥13,895 thousand / Operating profit Q1 2025 ¥-19,021 thousand / Q1 2026 ¥-33,645 thousand / Change in amount ¥-14,625 thousand / Fashion Brand Business Net Sales Q1 2025 ¥52,803 thousand / Q1 2026 ¥8,703 thousand / Change in amount ¥-44,100 thousand / Operating profit Q1 2025 ¥7,919 thousand / Q1 2026 ¥5,574 thousand / Change in amount ¥-2,345 thousand / Real Estate Investment Business Net Sales Q1 2025 ¥15,212 thousand / Q1 2026 ¥149,492 thousand / Change in amount ¥134,280 thousand / Operating profit Q1 2025 ¥347 thousand / Q1 2026 ¥26,024 thousand / Change in amount ¥25,677 thousand |
| Breakdown of Factors Affecting the Change | Factors Decline from one-time profit recorded in the prior-year period / Details Decline from the foreign exchange gain and gain on sale of fixed assets recorded in the prior-year period, Factors Expenses related to the issuance of share acquisition rights / Amount ¥26 million, Factors Shortfall in gross profit from real estate properties / Details Gross profit from income-producing properties fell below the initial estimate, resulting in a higher cost ratio, Factors Provision for loss on orders received in the construction consulting business / Details A provision was recorded for projects scheduled for completion from the second quarter onward |
| Key KPIs | Revenue was ¥186 million in Q1 2021, the second-highest level in the past five years |
| Number of employees | 13 People (consolidated basis, as of 31 December 2025) |
| Assumptions Underlying the Business Outlook | The materials state that real estate market conditions, progress on investment projects, and interest rate and foreign exchange trends, among other factors, could affect results, but the numerical assumptions were not disclosed |
| Annual Dividend | 1 Yen per share |
| Acquisition of treasury shares | 200,000 treasury shares were cancelled. The repurchase limit and period were not disclosed |
| New initiatives | Serial M&A through smart investment, Automation and acceleration of M&A operations using AI, Automating non-value-added work with AI and reallocating surplus personnel to customer-facing roles, Expanding orders received and improving productivity in highly sustainable fields such as disaster prevention and mitigation, dams, rivers, and erosion control |
Items this document does not state (15)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioCapital expendituresOrders 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 increase in revenue was mainly attributable to sales of income-producing properties and orders received in the construction consulting business, including work related to extending the service life of dams and disaster prevention and mitigation. The deterioration in ordinary profit and net profit was mainly attributable to the decline from the foreign exchange gain and gain on sale of fixed assets recorded in the prior-year period, as well as one-time and non-operating factors such as ¥26 million in expenses related to the issuance of share acquisition rights. Although the recovery in revenue contributed to the narrower operating loss, the construction consulting business was adversely affected by a provision for loss on orders received and higher selling, general and administrative expenses.
How to read this page
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