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
23.2
% (year-on-year increase in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales30,404million yenYear on year +7.1%Progress 98.1%
Operating profit3,303million yenYear on year +23.2%Progress 97.1%
Ordinary income3,121million yenYear on year +21.6%Progress 97.5%
Net income attributable to owners of the parent2,708million yenYear on year +38.9%Progress 138.9%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥487.40
Operating Margin10.9%
Financial position at period-end
Total assets43,895million yen
of which net assets 18,326 million yenEquity ratio 41.7%vs. prior year-end +4.5pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+4,764
Investment-1,639
Financials-3,257
Net change-132
Stacked from zero: upward is an increase in cash, downward a decrease (in million yen).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period3,969 million yen
Segment revenueHotel Operations Business 16,433 million yen (YoY +10.4%), Golf Operations Business 8,551 million yen (YoY +2.3%), Resol no Mori Business 4,235 million yen (YoY +6.6%), Wellbeing Business 1,055 million yen (YoY +9.4%), Renewable energy business 102 million yen (YoY -1.2%), Investment and Revitalization Business 25 million yen (YoY -76.8%)
Segment profitHotel Operations Business 3,277 million yen (YoY +30.3%), Golf Operations Business 979 million yen (YoY +5.0%), Resol no Mori Business 299 million yen (YoY -1.5%), Wellbeing Business 130 million yen (YoY +110.1%), Renewable energy business 31 million yen (YoY -40.2%), Investment and Revitalization Business 3 million yen (YoY -85.9%)
Regional salesOutside Japan Not applicable (there was no revenue from external customers)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales31,000 million yen (YoY +2.0%)
Operating profit3,400 million yen (YoY +2.9%)
Ordinary income3,200 million yen (YoY +2.5%)
Net income1,950 million yen (YoY -28.0%)
Annual Dividend Forecast110 yen and sen → 120 yen and sen（+9.1%）
Payout ratio22.6%
Shareholder Return PolicyThe company will seek to maintain and improve dividend levels, taking into account the business environment and trends in earnings and financial condition. Numerical target: not disclosed.
Factors Behind Changes in Business Performance
High levels of foreign visitors to Japan and growth in inbound consumption, along with domestic travel and golf spending and corporate training demand, supported performance. The company also worked to strengthen inbound marketing, develop products and plans, enhance its customer service structure and upgrade its facilities.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 Yes修正再表示 No
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name None
Material subsequent eventsNot applicable.
Impairment loss0 million yen
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 32 million yen, Reversal of provision for special employee compensation 23 million yen, Total extraordinary income 55 million yen / Extraordinary loss Loss on Disposal of Fixed Assets 8 million yen, Loss on sale of fixed assets 3 million yen, Loss on sale of shares in subsidiaries and other affiliates 30 million yen, Other 4 million yen, Total extraordinary loss 47 million yen
Depreciation and amortization1,246 million yen
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingNone (対象者：Not applicable)
Issued Shares at Period-End5,564,200 Shares
Treasury Shares at Period-End7,131 Shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | 30,404 million yen (YoY +7.1%) |
| Operating profit | 3,303 million yen (YoY +23.2%) |
| Ordinary income | 3,121 million yen (YoY +21.6%) |
| Profit attributable to owners of the parent | 2,708 million yen (YoY +38.9%) |
| Net income per share | ¥487.40 |
| Operating Margin | 10.9% |
| Equity ratio | End of the current fiscal period 41.7% / End of previous period 37.2% |
| Total assets | 43,895 million yen |
| Net assets | 18,326 million yen |
| Cash flows from operating activities | 4,764 million yen |
| Cash flows from investing activities | -1,639 million yen |
| Cash flows from financing activities | -3,257 million yen |
| Cash and cash equivalents at end of period | 3,969 million yen |
| Full-year earnings forecast | Net Sales 31,000 million yen (YoY +2.0%) / Operating profit 3,400 million yen (YoY +2.9%) / Ordinary income 3,200 million yen (YoY +2.5%) / Net income 1,950 million yen (YoY -28.0%) |
| Annual Dividend Forecast | 110 yen and sen → 120 yen and sen（+9.1%） |
| Payout ratio | 22.6% |
| Shareholder Return Policy | The company will seek to maintain and improve dividend levels, taking into account the business environment and trends in earnings and financial condition. Numerical target: not disclosed. |
| Segment revenue | Hotel Operations Business 16,433 million yen (YoY +10.4%), Golf Operations Business 8,551 million yen (YoY +2.3%), Resol no Mori Business 4,235 million yen (YoY +6.6%), Wellbeing Business 1,055 million yen (YoY +9.4%), Renewable energy business 102 million yen (YoY -1.2%), Investment and Revitalization Business 25 million yen (YoY -76.8%) |
| Segment profit | Hotel Operations Business 3,277 million yen (YoY +30.3%), Golf Operations Business 979 million yen (YoY +5.0%), Resol no Mori Business 299 million yen (YoY -1.5%), Wellbeing Business 130 million yen (YoY +110.1%), Renewable energy business 31 million yen (YoY -40.2%), Investment and Revitalization Business 3 million yen (YoY -85.9%) |
| Regional sales | Outside Japan Not applicable (there was no revenue from external customers) |
| Depreciation and amortization | 1,246 million yen |
| Impairment loss | 0 million yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 32 million yen, Reversal of provision for special employee compensation 23 million yen, Total extraordinary income 55 million yen / Extraordinary loss Loss on Disposal of Fixed Assets 8 million yen, Loss on sale of fixed assets 3 million yen, Loss on sale of shares in subsidiaries and other affiliates 30 million yen, Other 4 million yen, Total extraordinary loss 47 million yen |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate Yes / Restatement No |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name None |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | None (対象者：Not applicable) |
| Issued Shares at Period-End | 5,564,200 Shares |
| Treasury Shares at Period-End | 7,131 Shares |
| Factors Behind Changes in Business Performance | High levels of foreign visitors to Japan and growth in inbound consumption, along with domestic travel and golf spending and corporate training demand, supported performance. The company also worked to strengthen inbound marketing, develop products and plans, enhance its customer service structure and upgrade its facilities. |
Items this document does not state (2)
Revision to Earnings ForecastOrders received and order backlog
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 number of foreign visitors to Japan remained at historically high levels, boosting inbound consumption, while domestic travel and golf spending and corporate training demand also provided support. The company also worked to strengthen inbound marketing, develop products and plans, enhance its customer service structure and upgrade its facilities. The decline in net income expected for the next fiscal year is attributed to a higher tax burden following the utilization of tax loss carryforwards.
How to read this page
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