Revised forecast
Fiscal year ending September 2026 · Full yearPrevious forecast published 30 October 2025The bar length represents the relative magnitude of change, based on the item that changed the most in this document. The percentage change shown by the dotted line is calculated from the two reported figures because the company did not provide the rate.
While the lease fund business remained firm, the publication of the FY2026 tax reform outline led the Company to temporarily suspend new sales in its domestic real estate fund business and introduce special cancellation measures for investors who had already submitted purchase applications. As a result, sales in the first quarter fell substantially. Since establishing a new sales policy also took time and first-half results are expected to fall below the previous forecast, the full-year plan was revised.
| Item | Details |
|---|---|
| Net Sales | ¥130,500 million → ¥82,876 million（-36.5%） |
| Operating profit | ¥30,400 million → ¥23,157 million（-23.8%） |
| Ordinary income | ¥30,600 million → ¥22,860 million（-25.3%） |
| Profit attributable to owners of the parent | ¥21,000 million → ¥15,513 million（-26.1%） |
| Net income per share | ¥250.8 → ¥185.27 |
| Fiscal Period Covered | Fiscal year ending September 2026 |
| Period Covered | Full year |
| Publication date of previous forecast | 30 October 2025 |
| Previous-period results | Net sales: ¥129,764 million; operating income: ¥25,417 million; ordinary income: ¥26,493 million; net income attributable to owners of the parent: ¥18,156 million; basic earnings per share: ¥216.18 (fiscal year ended September 2025) |
| Reason for the revision | While the lease fund business remained firm, the publication of the FY2026 tax reform outline led the Company to temporarily suspend new sales in its domestic real estate fund business and introduce special cancellation measures for investors who had already submitted purchase applications. As a result, sales in the first quarter fell substantially. Since establishing a new sales policy also took time and first-half results are expected to fall below the previous forecast, the full-year plan was revised. |
| Dividend forecast revision | The annual dividend forecast was reduced from ¥125.40 to ¥92.70. The interim dividend forecast was revised from ¥62.70 to ¥46.35, and the year-end dividend forecast was revised from ¥62.70 to ¥46.35. The forecast consolidated dividend payout ratio is 50.0%. |
| Consolidated / non-consolidated | Consolidated |
Items this document does not state (1)
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.While the lease fund business remained firm, the publication of the FY2026 tax reform outline raised the possibility that the tax benefits of domestic real estate fund products would be reduced or eliminated. The Company therefore temporarily suspended new sales and introduced special cancellation measures. As a result, sales in the first quarter fell substantially, and establishing a new sales policy also took time, leading to the expectation that first-half results would fall below the previous forecast.