Worth reading
54Recurring
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
16.8
¥100 million (gross operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending December 20266 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19.6 million
Operating profit¥0.2 million
Ordinary income¥1.1 million
Net income¥1.1 million
Selling, general and administrative expenses¥16.6 million
Full-year earnings forecast
Operating revenue
¥50 million
Gross operating profit
¥49 million
Operating profit
¥15 million
Ordinary income
¥15 million
Profit attributable to owners of the parent
¥10 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。
Operating revenue39%
Operating Costs283%
Gross operating profit34%
Selling, general and administrative expenses49%
Operating profit1%
Ordinary income7%
Profit attributable to owners of the parent11%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Management fees were broadly in line with planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Management fee¥1.38 billion
- Carried Interest¥70 million
- Proprietary investments and other¥230 million
- Valuation losses on assets held-¥280 million
New initiatives
- Completion of the first close of Aircraft Fund No. 3 (Mach OE) and acquisition of 2 aircraft
- Preparations to form Buyout Fund III
- Collaboration with Higo Bank to strengthen the resilience of Kyushu industries
- 100-Year Heritage Project with Takashimaya
- Capital and business alliance with Vietnam S&C Joint Stock Company
Key KPIsA metric the company considers important as a management benchmark.
- Assets under management¥3,449 million
- Occupancy rate of Spring REIT's commercial facility in Huizhou95 %
- Occupancy rate of Spring REIT's office property in Beijing91 %
- Number of investments by Buyout Fund No. 28 Engagements
- Number of target projects in Thailand19 Engagements
Medium-term management plan targets
TargetFive-year average net income of ¥2.0 billion
Target fiscal yearFiscal year ending December 2026
Comparison with actual resultsThe five-year average net income is expected to be ¥1.16 billion, below the target
Market Size / Share
- Taiwan's cumulative solar power installations10.7 GW
- Taiwan's planned solar power installations (2025)20 GW
- Taiwan's planned solar power installations (2030)30 GW
- Taiwan's planned solar power installations (2050)40～80
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥19.6 million |
| Operating profit | ¥0.2 million |
| Ordinary income | ¥1.1 million |
| Net income | ¥1.1 million |
| Selling, general and administrative expenses | ¥16.6 million |
| Full-year earnings forecast | Operating revenue ¥50 million / Gross operating profit ¥49 million / Operating profit ¥15 million / Ordinary income ¥15 million / Profit attributable to owners of the parent ¥10 million |
| Progress against full-year forecast | Operating revenue 39% / Operating Costs 283% / Gross operating profit 34% / Selling, general and administrative expenses 49% / Operating profit 1% / Ordinary income 7% / Profit attributable to owners of the parent 11% |
| Self-assessment against the plan | Management fees were broadly in line with plan |
| Breakdown of Factors Affecting the Change | Factors Management fee / Amount ¥1.38 billion, Factors Carried Interest / Amount ¥70 million, Factors Proprietary investments and other / Amount ¥230 million, Factors Valuation losses on assets held / Amount -¥280 million |
| Key KPIs | Indicator name Assets under management / Value ¥3,449 million / Year on year against the same period last year Not disclosed, Indicator name Occupancy rate of Spring REIT's commercial facility in Huizhou / Value 95 % / Year on year against the same period last year Not disclosed, Indicator name Occupancy rate of Spring REIT's office property in Beijing / Value 91 % / Year on year against the same period last year Not disclosed, Indicator name Number of investments by Buyout Fund No. 2 / Value 8 Engagements / Year on year against the same period last year Not disclosed, Indicator name Number of target projects in Thailand / Value 19 Engagements / Year on year against the same period last year Not disclosed |
| Medium-term management plan targets | Target Five-year average net income of ¥2.0 billion / Target fiscal year Fiscal year ending December 2026 / Comparison with actual results The five-year average net income is expected to be ¥1.16 billion, below the target |
| Market Size / Share | Item Taiwan's cumulative solar power installations / Value 10.7 GW, Item Taiwan's planned solar power installations (2025) / Value 20 GW, Item Taiwan's planned solar power installations (2030) / Value 30 GW, Item Taiwan's planned solar power installations (2050) / Value 40～80 |
| New initiatives | Completion of the first close of Aircraft Fund No. 3 (Mach OE) and acquisition of 2 aircraft, Preparations to form Buyout Fund III, Collaboration with Higo Bank to strengthen the resilience of Kyushu industries, 100-Year Heritage Project with Takashimaya, Capital and business alliance with Vietnam S&C Joint Stock Company |
Items this document does not state (16)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders 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.Management fees were broadly in line with plan, but valuation losses of ¥280 million on assets held were recorded. In addition, the next major exit from Buyout Fund No. 1 is expected to take place in the following fiscal year or later, and profit is expected to decline from the record high reported in the previous fiscal year.
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.