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Financial results presentation5078CEL CorporationConstruction and Materials

Results Briefing Materials for the First Half of the Fiscal Year Ending February 2027

During the first half, sales of properties in the rental development business progressed, resulting in a 1.6% year-on-year increase in consolidated net sales. However, gross profit margin declined due to higher costs in the rental housing business, and operating income and ordinary income decreased.

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Financial results presentationFirst half of the fiscal year ending February 202715 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥10,975 million+1.6%
Operating profit¥764 million-27.0%
Ordinary income¥770 million-26.6%
Net income¥513 million-25.1%
Gross Profit Margin18.8
Operating profit margin7
Selling, general and administrative expenses¥1,298 million
Full-year earnings forecast
Net Sales
¥23,580 million
Operating profit
¥2,016 million
Ordinary income
¥2,020 million
Profit attributable to owners of the parent
¥1,342 million
Earnings per share
¥408.06
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 Sales46.5
Operating profit37.9
Ordinary income38.1
Interim net income attributable to owners of the parent38.2
Interim net income per share38.1
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Aim to achieve the initial plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating income forecast bridge
Rental housing business: decrease in profit due to lower sales-80
Rental housing business: higher costs-490
Rental development business: increase in properties sold430
Rental management business: increase in units under management70
Other70
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Expected cost reduction in the current fiscal year
¥30 million
Increase in orders received
60 % year on year
New initiatives
  • Established the wholly owned consolidated subsidiary 株式会社セレ工務店 on 1 July 2026
  • Initiatives to recruit and train carpenters and ensure construction quality
  • Passing higher costs on through pricing, dual-supplier procurement, and reviews of equipment and material specifications
  • Promoting proposals for effective land use by strengthening alliances with financial institutions
Key KPIsA metric the company considers important as a management benchmark.
  • First-half orders in the rental housing business72.5 % year on year
  • Units under management in the rental management business99 Increase in units from the end of the previous fiscal year
  • Occupancy rate in the rental management business98.3 ％
  • First-half orders received (response to rising interest rates)60 % year on year
  • Percentage of employees holding FP qualifications84 ％
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average rent
¥95,000
Number of units
10 units + 2 units
Monthly rent
¥1,140,000
Segment results
Rental housing business
Net Sales
¥4,242 million-13.7%
Segment profit
¥292 million-53.7%
Rental development business
Net Sales
¥1,565 million+17.5%
Segment profit
¥131 million-39.2%
Rental management business
Net Sales
¥5,457 million+3.8%
Segment profit
¥695 million+3.0%
Head office and other
Net Sales
¥-289 million
Segment profit
¥-356 million
Medium-term management plan targets
Vision 2030
Market capitalization
¥250 100 million
Operating profit margin
10 ％
ROE
9 ％
PBR
1 times
Target fiscal year2,030
Financial targets
ROE
9 ％
PBR
1 times
Equity ratio
Actual results84 ％
Market Size / Share
People aged 25–35 in the Tokyo metropolitan area
200 10,000 people
People in the Tokyo metropolitan area who are dissatisfied or somewhat dissatisfied with conventional living spaces
50 10,000 people
Number of applicable steel-frame house builders and other companies
6 companies
Number of employees
Number of Employees193 people
Number of temporary employees41 people
Temporary unitpeople
Capital expenditures
¥115 million
Annual Dividend
Annual dividend per share
¥160
Payout ratio
40 ％
DetailsBased on a payout ratio of 40%
Acquisition of treasury shares
Acquisition amount
¥523 million
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst half of the fiscal year ending February 2027
Net Sales¥10,975 million (YoY +1.6%)
Operating profit¥764 million (YoY -27.0%)
Ordinary income¥770 million (YoY -26.6%)
Net income¥513 million (YoY -25.1%)
Gross Profit Margin18.8
Operating profit margin7
Selling, general and administrative expenses¥1,298 million
Full-year earnings forecastNet Sales ¥23,580 million / Operating profit ¥2,016 million / Ordinary income ¥2,020 million / Profit attributable to owners of the parent ¥1,342 million / Earnings per share ¥408.06
Progress against full-year forecastNet Sales 46.5 / Operating profit 37.9 / Ordinary income 38.1 / Interim net income attributable to owners of the parent 38.2 / Interim net income per share 38.1
Self-assessment against the planAim to achieve the initial plan
Segment resultsRental housing business Net Sales ¥4,242 million (YoY -13.7%) / Segment profit ¥292 million (YoY -53.7%) / Rental development business Net Sales ¥1,565 million (YoY +17.5%) / Segment profit ¥131 million (YoY -39.2%) / Rental management business Net Sales ¥5,457 million (YoY +3.8%) / Segment profit ¥695 million (YoY +3.0%) / Head office and other Net Sales ¥-289 million / Segment profit ¥-356 million
Breakdown of Factors Affecting the ChangeOperating income forecast bridge Rental housing business: decrease in profit due to lower sales -80 / Rental housing business: higher costs -490 / Rental development business: increase in properties sold 430 / Rental management business: increase in units under management 70 / Other 70
Key KPIsIndicator name First-half orders in the rental housing business / Value 72.5 % year on year, Indicator name Units under management in the rental management business / Value 99 Increase in units from the end of the previous fiscal year, Indicator name Occupancy rate in the rental management business / Value 98.3 ％, Indicator name First-half orders received (response to rising interest rates) / Value 60 % year on year, Indicator name Percentage of employees holding FP qualifications / Value 84 ％
Unit price and quantity metricsAverage rent ¥95,000 / Number of units 10 units + 2 units / Monthly rent ¥1,140,000
Number of employeesNumber of Employees 193 people / Number of temporary employees 41 people / Temporary unit people
Assumptions Underlying the Business OutlookExpected cost reduction in the current fiscal year ¥30 million / Increase in orders received 60 % year on year
Medium-term management plan targetsVision 2030 Market capitalization ¥250 100 million / Operating profit margin 10 ％ / ROE 9 ％ / PBR 1 times / Target fiscal year 2,030
Financial targetsROE 9 ％ / PBR 1 times / Equity ratio Actual results 84 ％
Annual DividendAnnual dividend per share ¥160 / Interim and Year-End Breakdown Not disclosed
Payout ratio40 ％
Acquisition of treasury sharesAcquisition amount ¥523 million / Period Not disclosed / Number of shares acquired Not disclosed
Capital expenditures¥115 million
Market Size / SharePeople aged 25–35 in the Tokyo metropolitan area 200 10,000 people / People in the Tokyo metropolitan area who are dissatisfied or somewhat dissatisfied with conventional living spaces 50 10,000 people / Number of applicable steel-frame house builders and other companies 6 companies
New initiativesEstablished the wholly owned consolidated subsidiary 株式会社セレ工務店 on 1 July 2026, Initiatives to recruit and train carpenters and ensure construction quality, Passing higher costs on through pricing, dual-supplier procurement, and reviews of equipment and material specifications, Promoting proposals for effective land use by strengthening alliances with financial institutions
Items this document does not state (5)
Results for the three months of the current quarterNumber of stores and locationsRisk amount incorporated into the outlookOrders 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.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

In the rental development business, sales of completed properties progressed, and the number of meetings with prospective buyers increased as awareness of the properties improved through online advertising and other initiatives. In the rental housing business, gross profit margin declined due to higher costs.

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Results Briefing Materials for the First Half of the Fiscal Year Ending February 2027 | CEL Corporation (5078) timely disclosure | Komori