Worth reading
56In focus
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
-392.8
¥100 million (year-on-year change in consolidated net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFY2026/09 Q3 (cumulative: October 2025–June 2026)7 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥514.1 100 million-43.3%
Operating profit¥176.1 100 million-8.6%
Ordinary income¥176.4 100 million-12.6%
Net income¥121 100 million-12.0%
Selling, general and administrative expenses¥87.3 100 million
Results for the three months of the current quarterLease fund business sales: ¥75.1 billion; domestic real estate fund business sales: ¥6.9 billion; lease fund business formation: ¥89.5 billion. Consolidated three-month standalone earnings figures: Not disclosed.
Full-year earnings forecast
Net Sales
¥828.7 100 million
Gross profit
¥343 100 million
Operating profit
¥231.5 100 million
Ordinary income
¥228.6 100 million
Net income
¥155.1 100 million
Annual dividend per share
92.7 yen
By segment
Lease fund business
Net Sales
¥285 100 million
Gross profit
¥246.2 100 million
Sales of equity investments
¥2,105.1 100 million
Domestic real estate fund business
Net Sales
¥525.8 100 million
Gross profit
¥88.2 100 million
Sales amount
¥505.1 100 million
Overseas real estate fund business
Net Sales
¥12.6 100 million
Gross profit
¥11.1 100 million
Sales of equity investments
¥57.6 100 million
Other businesses
Net Sales
¥5.2 100 million
Gross profit
¥-2.5 100 million
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。
Consolidated
Net Sales62 %
Gross profit76.8 %
Operating profit76.1 %
Ordinary income77.2 %
Net income78 %
Lease fund business
Net Sales89 %
Gross profit90.6 %
Sales of equity investments87.1 %
Domestic real estate fund business
Net Sales48.6 %
Gross profit47.8 %
Sales amount46.7 %
Overseas real estate fund business
Net Sales3.7 %
Gross profit4 %
Other businesses
Net Sales80.9 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Profit is progressing smoothly, with progress against the full-year forecast exceeding 75%. The lease fund business is also progressing smoothly.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Factors behind the decline in revenueThe contraction of the domestic real estate fund business caused a substantial decline in its revenue, as proceeds from real estate sales are recorded as revenue in that business. The breakdown by amount of each factor: Not disclosed.
Profit driversStrong performance and improved margins in the lease fund business drove overall results. Amount by factor: Not disclosed.
New initiatives
- Launch of subscriptions for F.bit No. 2, a fractional aircraft investment product for individuals
- Formation and sale of a JOLCO transaction covering 4 newly built 13,700-TEU container vessels leased to ONE
- Sale of FPG Links Omotesando V
- Full-scale consideration of forming an overseas real estate fund
- Strengthening collaboration with accounting firms and regional banks
Key KPIsA metric the company considers important as a management benchmark.
- Lease fund business: sales of equity investments¥1,833 100 million+8.3%
- Lease fund business formation (Q3)¥895 100 million
- Domestic real estate fund business: sales amount¥236.1 100 million-64.0%
- Domestic real estate fund business: amount originated¥439 100 million
- Cumulative number of domestic real estate fund formations51 Engagements
- Lease fund business: inventory¥336 100 million
- Domestic real estate fund business: inventory¥574 100 million
Segment results
Lease fund business
Net Sales
¥253.7 100 million+23.6%
Gross profit
¥223 100 million+29.3%
Sales of equity investments
¥1,833 100 million+8.3%
Domestic real estate fund business
Net Sales
¥255.7 100 million-61.5%
Gross profit
¥42.2 100 million-40.2%
Sales amount
¥236.1 100 million-64.0%
Overseas real estate fund business
Net Sales
¥0.4 100 million-98.7%
Gross profit
¥0.4 100 million-98.5%
Sales of equity investments¥16.85 billion in the prior year; current period: Not disclosed
Other businesses
Net Sales
¥4.2 100 million+29.5%
Gross profit
¥-2.1 100 million
Orders received and order backlog
In June 2026, the company won an order for a large-scale lease fund project covering 4 newly built container vessels. Order value: Not disclosed.Annual Dividend
Annual dividend per share92.7 yen
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2026/09 Q3 (cumulative: October 2025–June 2026) |
| Net Sales | ¥514.1 100 million (YoY -43.3%) |
| Operating profit | ¥176.1 100 million (YoY -8.6%) |
| Ordinary income | ¥176.4 100 million (YoY -12.6%) |
| Net income | ¥121 100 million (YoY -12.0%) |
| Selling, general and administrative expenses | ¥87.3 100 million |
| Results for the three months of the current quarter | Lease fund business sales: ¥75.1 billion; domestic real estate fund business sales: ¥6.9 billion; lease fund business formation: ¥89.5 billion. Consolidated three-month standalone earnings figures: Not disclosed. |
| Full-year earnings forecast | Net Sales ¥828.7 100 million / Gross profit ¥343 100 million / Operating profit ¥231.5 100 million / Ordinary income ¥228.6 100 million / Net income ¥155.1 100 million / Annual dividend per share 92.7 yen / By segment Lease fund business Net Sales ¥285 100 million / Gross profit ¥246.2 100 million / Sales of equity investments ¥2,105.1 100 million / Domestic real estate fund business Net Sales ¥525.8 100 million / Gross profit ¥88.2 100 million / Sales amount ¥505.1 100 million / Overseas real estate fund business Net Sales ¥12.6 100 million / Gross profit ¥11.1 100 million / Sales of equity investments ¥57.6 100 million / Other businesses Net Sales ¥5.2 100 million / Gross profit ¥-2.5 100 million |
| Progress against full-year forecast | Consolidated Net Sales 62 % / Gross profit 76.8 % / Operating profit 76.1 % / Ordinary income 77.2 % / Net income 78 % / Lease fund business Net Sales 89 % / Gross profit 90.6 % / Sales of equity investments 87.1 % / Domestic real estate fund business Net Sales 48.6 % / Gross profit 47.8 % / Sales amount 46.7 % / Overseas real estate fund business Net Sales 3.7 % / Gross profit 4 % / Sales of equity investments Not disclosed / Other businesses Net Sales 80.9 % / Gross profit Not disclosed |
| Self-assessment against the plan | Profit is progressing smoothly, with progress against the full-year forecast exceeding 75%. The lease fund business is also progressing smoothly. |
| Segment results | Lease fund business Net Sales ¥253.7 100 million (YoY +23.6%) / Gross profit ¥223 100 million (YoY +29.3%) / Sales of equity investments ¥1,833 100 million (YoY +8.3%) / Domestic real estate fund business Net Sales ¥255.7 100 million (YoY -61.5%) / Gross profit ¥42.2 100 million (YoY -40.2%) / Sales amount ¥236.1 100 million (YoY -64.0%) / Overseas real estate fund business Net Sales ¥0.4 100 million (YoY -98.7%) / Gross profit ¥0.4 100 million (YoY -98.5%) / Sales of equity investments ¥16.85 billion in the prior year; current period: Not disclosed / Other businesses Net Sales ¥4.2 100 million (YoY +29.5%) / Gross profit ¥-2.1 100 million |
| Breakdown of Factors Affecting the Change | Factors behind the decline in revenue The contraction of the domestic real estate fund business caused a substantial decline in its revenue, as proceeds from real estate sales are recorded as revenue in that business. The breakdown by amount of each factor: Not disclosed. / Profit drivers Strong performance and improved margins in the lease fund business drove overall results. Amount by factor: Not disclosed. |
| Key KPIs | Lease fund business: sales of equity investments ¥1,833 100 million (YoY +8.3%), Lease fund business formation (Q3) ¥895 100 million, Domestic real estate fund business: sales amount ¥236.1 100 million (YoY -64.0%), Domestic real estate fund business: amount originated ¥439 100 million, Cumulative number of domestic real estate fund formations 51 Engagements, Lease fund business: inventory ¥336 100 million, Domestic real estate fund business: inventory ¥574 100 million |
| Annual Dividend | Annual dividend per share 92.7 yen / Interim and Year-End Breakdown Not disclosed |
| Orders received and order backlog | In June 2026, the company won an order for a large-scale lease fund project covering 4 newly built container vessels. Order value: Not disclosed. |
| New initiatives | Launch of subscriptions for F.bit No. 2, a fractional aircraft investment product for individuals, Formation and sale of a JOLCO transaction covering 4 newly built 13,700-TEU container vessels leased to ONE, Sale of FPG Links Omotesando V, Full-scale consideration of forming an overseas real estate fund, Strengthening collaboration with accounting firms and regional banks |
Items this document does not state (14)
Gross Profit MarginOperating profit marginUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresMarket 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 lease fund business performed well, supported by strong investor demand. Meanwhile, sales in the domestic real estate fund business were still recovering, and the overseas real estate fund business was at the stage of seriously considering full-scale fund formation. The contraction of the domestic real estate fund business also led to a substantial decline in its revenue, as proceeds from real estate sales are recorded as revenue in that business.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.