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Nakayama Steel Works (5408) · FactStable earnings maintained; profit declinedLatest Revision of earnings forecasts (2026-08-07): "Restated"

Securing Stable Earnings from the Real Estate Business

First written in FY2016. 13 of 31 entries say "Advanced", first in FY2019. Latest entry: 2026-08-07.

31entries
11years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2016 – FY2018-Q3OtherFY2024-Q1 – 2026-08-072016: 320162017: 420172018: 120182019: 320192020: 320202021: 420212022: 420222023: 420232024: 220242025: 120252026: 22026
Same theme, other companies
Building the real estate and rental housing business into a core earnings driverA theme 42 companies write about · 4 as a headwind · 39 as a tailwind

The whole theme swung hardest in 2025: 4 of 30 companies on the "Worse" side.

10 other companies' latest entry also says "Restated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 42 companies compared. The sentences above are computed from all 42.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-07RestatedRevision of earnings forecasts

    「In the real estate business, we secured stable earnings, mainly from rental income. Net sales were ¥362 million, down ¥2 million year on year, and ordinary income was ¥164 million, down ¥13 million.」

    The real estate business was reconfirmed as a stable source of earnings centered on rental income.
  2. FY2026Stable earnings maintained; profit declinedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥1,395 million, up ¥2 million from the previous fiscal year, and ordinary profit was ¥685 million, down ¥11 million from the previous fiscal year.」

    The real estate business maintained its positioning as a stable earnings source centered on rental income, but net sales were broadly flat and ordinary profit declined.
  3. FY2026-H1Stable earnings maintained; profit declinedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥708 million, unchanged year on year, and ordinary profit was ¥346 million, down ¥16 million year on year.」

    The positioning as a stable earnings source centered on rental income was maintained, but net sales were flat and ordinary profit decreased by ¥16 million year on year.
  4. FY2025-H1RestatedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥501 million, down ¥11 million year on year, and ordinary profit was ¥363 million, up ¥15 million year on year.」

    The real estate business maintained its positioning as a stable earnings source centered on rental income, and ordinary profit exceeded the previous year’s level despite lower sales.
  5. FY2024-Q3Profit Growth Despite Revenue DeclineAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥752 million, down ¥30 million year on year, and ordinary profit was ¥527 million, up ¥11 million year on year.」

    The real estate business maintained its positioning as a stable earnings source centered on rental income. Net sales declined, while ordinary profit increased.
  6. FY2024-Q2Stable earnings maintained, with lower sales and profitAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥512 million, down ¥13 million year on year, and ordinary profit was ¥347 million, down ¥5 million year on year.」

    The positioning as a stable earnings source centered on rental income was maintained, but net sales and ordinary profit fell below the previous year’s levels.
  7. FY2024-Q1Profit growth despite lower salesAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥255 million, down ¥6 million year on year, and ordinary profit was ¥181 million, up ¥5 million year on year.」

    The positioning as a stable earnings source centered on rental income was maintained. Net sales declined, but ordinary profit increased year on year.
  8. FY2023AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥1,064 million, up ¥287 million from the previous fiscal year, and ordinary profit was ¥697 million, up ¥196 million from the previous fiscal year.」

    The real estate business served as a stable earnings source centered on rental income, with both net sales and ordinary profit exceeding the previous fiscal year’s levels.
  9. FY2023-Q3AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥783 million, up ¥171 million year on year, and ordinary profit was ¥516 million, up ¥101 million year on year.」

    In the real estate business centered on rental income, net sales and ordinary profit exceeded the previous year’s levels, showing further progress as a stable earnings source.
  10. FY2023-Q2AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥526 million, up ¥111 million year on year, and ordinary profit was ¥353 million, up ¥73 million year on year.」

    In the real estate business centered on rental income, net sales and ordinary profit exceeded the previous year’s levels, showing further progress as a stable earnings source.
  11. FY2023-Q1AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥261 million, up ¥42 million year on year, and ordinary profit was ¥176 million, up ¥32 million year on year.」

    In the real estate business centered on rental income, net sales and ordinary profit exceeded the previous year’s levels.
  12. FY2022Stable earnings maintained, with lower sales and profitAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥776 million, down ¥60 million from the previous fiscal year, and ordinary profit was ¥500 million, down ¥59 million from the previous fiscal year.」

    The positioning as a stable earnings source centered on rental income was maintained, but net sales and ordinary profit fell below the previous fiscal year’s levels.
  13. FY2022-Q3Stable earnings maintained, with lower sales and profitAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥611 million, down ¥19 million year on year, and ordinary profit was ¥414 million, down ¥37 million year on year.」

    The positioning as a stable earnings source centered on rental income was maintained, but net sales and ordinary profit fell below the previous year’s levels.
  14. FY2022-Q2AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥414 million, down ¥8 million year on year, and ordinary profit was ¥279 million, up ¥5 million year on year.」

    The positioning as a stable earnings source centered on rental income was maintained. Although net sales declined, ordinary profit increased by ¥5 million year on year.
  15. FY2022-Q1AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥218 million, down ¥0 million year on year, and ordinary profit was ¥143 million, up ¥11 million year on year.」

    In the real estate business centered on rental income, net sales were broadly flat, while ordinary profit increased by ¥11 million year on year.
  16. FY2021AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥837 million, up ¥7 million from the previous fiscal year, and ordinary profit was ¥560 million, up ¥65 million from the previous fiscal year.」

    In the real estate business centered on rental income, ordinary profit increased by ¥65 million from the previous fiscal year, showing further progress as a stable earnings source.
  17. FY2021-Q3AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥631 million, up ¥4 million year on year, and ordinary profit was ¥452 million, up ¥84 million year on year.」

    In the real estate business centered on rental income, net sales and ordinary profit exceeded the previous year’s levels, with ordinary profit increasing by ¥84 million year on year.
  18. FY2021-Q2AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥422 million, up ¥1 million year on year, and ordinary profit was ¥274 million, up ¥40 million year on year.」

    In the real estate business centered on rental income, net sales increased by ¥1 million year on year and ordinary profit increased by ¥40 million, demonstrating its performance as a stable earnings source.
  19. FY2021-Q1Stable earnings maintained; profit declinedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥219 million, up ¥4 million year on year, and ordinary profit was ¥131 million, down ¥16 million year on year.」

    The positioning as a stable earnings source centered on rental income was maintained, but while net sales increased, ordinary profit decreased by ¥16 million year on year.
  20. FY2020-Q3AdvancedAnnual report

    「In the real estate business, higher rental income from warehouse space at our Funamachi Plant, which began in November last year, among other factors, resulted in net sales of ¥626 million, up ¥158 million year on year, and ordinary profit of ¥368 million, up ¥4 million year on year.」

    Higher rental income from warehouse space at the Funamachi Plant lifted net sales and ordinary profit in the real estate business above the previous year’s levels.
  21. FY2020-Q2AdvancedAnnual report

    「In the real estate business, higher rental income from warehouse space at our Funamachi Plant, which began in November last year, among other factors, resulted in net sales of ¥421 million, up ¥122 million year on year, and ordinary profit of ¥234 million, up ¥5 million year on year.」

    Higher rental income from warehouse space at the Funamachi Plant lifted net sales and ordinary profit in the real estate business above the previous year’s levels.
  22. FY2020-Q1AdvancedAnnual report

    「In the real estate business, higher rental income from warehouse space at our Funamachi Plant, which began in November last year, among other factors, resulted in net sales of ¥214 million, up ¥59 million year on year, and ordinary profit of ¥148 million, up ¥32 million year on year.」

    Warehouse leasing at the Funamachi Plant contributed to earnings, with net sales and ordinary profit in the real estate business exceeding the previous year’s levels.
  23. FY2019AdvancedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥666 million, up ¥53 million from the previous fiscal year, and ordinary profit was ¥502 million, an increase of ¥63 million from the previous fiscal year.」

    In the real estate business centered on rental income, net sales and ordinary profit exceeded the previous fiscal year, demonstrating its performance as a stable earnings source.
  24. FY2018-Q3RestatedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥457 million, down ¥13 million year on year, and ordinary profit was ¥329 million, down ¥28 million year on year.」

    The real estate business continued to serve as a stable earnings source centered on rental income, while net sales and ordinary profit fell below the previous year’s levels.
  25. FY2018-Q2RestatedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥307 million, down ¥10 million year on year, and ordinary profit was ¥219 million, down ¥29 million year on year.」

    The real estate business continued to serve as a stable earnings source centered on rental income, while net sales and ordinary profit fell below the previous year’s levels.
  26. FY2018-Q1RestatedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥154 million, down ¥7 million year on year, and ordinary profit was ¥111 million, down ¥26 million year on year.」

    The real estate business continued to serve as a stable earnings source centered on rental income, while ordinary profit decreased by ¥26 million year on year.
  27. FY2017RestatedAnnual report

    「In the real estate business, we secured stable earnings centered on rental income. Net sales were ¥622 million, down ¥36 million from the previous fiscal year, and ordinary profit was ¥462 million, an increase of ¥69 million from the previous fiscal year.」

    The real estate business continued to serve as a stable earnings source centered on rental income, and ordinary profit was ¥462 million.
  28. FY2017-Q3RestatedAnnual report

    「In real estate, we secured stable earnings centered on rental income. Net sales were ¥471 million, down ¥35 million year on year, and ordinary profit was ¥358 million, a ¥36 million year-on-year increase.」

    The positioning of the real estate business as a stable earnings source centered on rental income was reaffirmed, and ordinary profit increased by ¥36 million year on year.
  29. FY2017-Q2RestatedAnnual report

    「In real estate, we secured stable earnings centered on rental income. Net sales were ¥318 million, down ¥36 million year on year, and ordinary profit was ¥249 million, a ¥40 million year-on-year increase.」

    The real estate business was reconfirmed as a stable source of earnings centered on rental income, and ordinary profit increased by ¥40 million year on year.
  30. FY2017-Q1RestatedAnnual report

    「In real estate, we secured stable earnings centered on rental income. Net sales were ¥161 million, down ¥31 million year on year, and ordinary profit was ¥138 million, a ¥29 million year-on-year increase.」

    The real estate business was reconfirmed as a stable source of earnings centered on rental income, and quarterly ordinary profit increased by ¥29 million year on year.
  31. FY2016First statedAnnual report

    「In real estate, we secured stable earnings centered on rental income. Net sales were ¥659 million, up ¥18 million year on year, and ordinary profit was ¥393 million, a ¥34 million year-on-year decline.」

    The real estate business is described as a stable source of earnings centered on rental income.
Moved together

"Implementation of ¥1.777 billion in capital investment" moved the same way as this thread, in the same document, in 13 of its 31 moves.

1396655★123456
  1. ★This thread
  2. 1Implementation of ¥1.777 billion in capital investment13×
  3. 2Management Focused on Maintaining the Financial Base and ROE9×
  4. 3Increasing the proportion of iron sources from in-house electric furnaces and securing a stable supply of purchased iron sources6×
  5. 4Decrease in steel order intake and order backlog due to falling steel market prices6×
  6. 5Company-wide Revenue and Profit Growth5×
  7. 6Decrease in Operating Cash Flow Due to an Increase in Inventory5×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Nakayama Steel Works's next results are scheduled for 2026-11-05. Read the earnings preview It last moved in the Revision of earnings forecasts of 2026-08-07: "Restated".
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Securing Stable Earnings from the Real Estate Business | NAKAYAMA STEEL WORKS,LTD. (5408) | Komori