Worth reading
91Important
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
11.6
% (year-on-year change in business profit)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFiscal year ending March 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,709,747 million+3.2%
Operating profit¥397,788 million+6.7%
Ordinary income¥313,319 million+7.9%
Net income¥278,684 million+12.0%
Gross Profit Margin
Rentals17.4% (down 0.6 percentage points year on year)
Condominium Development29.4% (up 10.5 percentage points year on year)
Other26.3% (down 26.1 percentage points year on year)
Full-year earnings forecast
Net Sales
¥2,700,000 million
Operating profit
¥395,000 million
Business profit
¥440,000 million
Ordinary income
¥305,000 million
Net income
¥270,000 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。
Net Sales100.4%
Operating profit100.7%
Business profit101.2%
Ordinary income102.7%
Net income103.2%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Operating revenue, operating profit, business profit, ordinary profit and net income all exceeded the forecasts and reached record highsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Rentals
Increase in sales¥64.2 billion
Increase in business profit¥500 million
Condominium Development
Revenue decline¥28.7 billion
Increase in business profit¥26.1 billion
Management
Increase in sales¥25.1 billion
Increase in business profit¥9.2 billion
Facility operations
Increase in sales¥20 billion
Increase in business profit¥7.7 billion
New initiatives
- Set business profit as a new profit metric
- Increase the annual dividend for the next fiscal year to ¥37 per share
- Decided to repurchase ¥40 billion of treasury shares as part of a flexible capital policy
Key KPIsA metric the company considers important as a management benchmark.
- Office vacancy rate in the Tokyo metropolitan area (standalone basis)1.6 %Year on year against the same period last year-0.6 percentage points
- Occupancy rate of domestic rental-focused hotels85 %Year on year against the same period last year+3 percentage points
- Number of managed parking spaces252,857 UnitsYear on year against the same period last year+5,117 spaces
- Number of brokerage transactions36,152 EngagementsYear on year against the same period last year-1,865 transactions
- Number of commissioned sales transactions1,364 EngagementsYear on year against the same period last year-61 transactions
- Value of orders for new construction contracts¥131,294 millionYear on year against the same period last year-¥7,385 million
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Domestic residential property sales
Condominiums
Number of units sold
2,747 units-25.6%
Unit price per property
¥14,592 10,000+42.7%
Detached houses
Number of units sold
407 units-2.4%
Unit price per property
¥9,461 10,000+9.6%
Segment results
Rentals
Net Sales
¥936,601 million+7.4%
Business profit
¥177,011 million+0.3%
Condominium Development
Net Sales
¥729,271 million-3.8%
Business profit
¥193,182 million+15.6%
Management
Net Sales
¥511,470 million+5.2%
Business profit
¥80,891 million+12.9%
Facility operations
Net Sales
¥244,146 million+9.0%
Business profit
¥46,345 million+20.0%
Other
Net Sales
¥288,257 million+1.3%
Business profit
¥10,178 million+54.9%
Medium-term management plan targets
PlanUnder INNOVATION 2030, business profit of at least ¥440 billion, net income attributable to owners of the parent of at least ¥270 billion, and ROE of at least 8.5% for the fiscal year ending March 2027
Comparison with actual resultsAchieved one year ahead of schedule. Fiscal year ended March 2026 results: business profit of ¥445.1 billion, net income of ¥278.6 billion and ROE of 8.7%
Financial targets
ROE
TargetAt least 8.5%
Actual results8.7%
Orders received and order backlog
Value of orders for new construction contracts
¥131,294 million
Annual Dividend
Current fiscal year
¥35 per share
Next period
¥37 per share
Payout ratio
Total payout ratio54.9% (planned for the current fiscal year)
Acquisition of treasury shares
Repurchase authorization amount¥40 billion
PeriodAdditional purchases under consideration during the next fiscal year
Repurchase amount already authorized for the current fiscal year¥75 billion
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥2,709,747 million (YoY +3.2%) |
| Operating profit | ¥397,788 million (YoY +6.7%) |
| Ordinary income | ¥313,319 million (YoY +7.9%) |
| Net income | ¥278,684 million (YoY +12.0%) |
| Gross Profit Margin | Rentals 17.4% (down 0.6 percentage points year on year) / Condominium Development 29.4% (up 10.5 percentage points year on year) / Other 26.3% (down 26.1 percentage points year on year) |
| Full-year earnings forecast | Net Sales ¥2,700,000 million / Operating profit ¥395,000 million / Business profit ¥440,000 million / Ordinary income ¥305,000 million / Net income ¥270,000 million |
| Progress against full-year forecast | Net Sales 100.4% / Operating profit 100.7% / Business profit 101.2% / Ordinary income 102.7% / Net income 103.2% |
| Self-assessment against the plan | Operating revenue, operating profit, business profit, ordinary profit and net income all exceeded the forecasts and reached record highs |
| Segment results | Rentals Net Sales ¥936,601 million (YoY +7.4%) / Business profit ¥177,011 million (YoY +0.3%) / Condominium Development Net Sales ¥729,271 million (YoY -3.8%) / Business profit ¥193,182 million (YoY +15.6%) / Management Net Sales ¥511,470 million (YoY +5.2%) / Business profit ¥80,891 million (YoY +12.9%) / Facility operations Net Sales ¥244,146 million (YoY +9.0%) / Business profit ¥46,345 million (YoY +20.0%) / Other Net Sales ¥288,257 million (YoY +1.3%) / Business profit ¥10,178 million (YoY +54.9%) |
| Breakdown of Factors Affecting the Change | Rentals Increase in sales ¥64.2 billion / Increase in business profit ¥500 million / Condominium Development Revenue decline ¥28.7 billion / Increase in business profit ¥26.1 billion / Management Increase in sales ¥25.1 billion / Increase in business profit ¥9.2 billion / Facility operations Increase in sales ¥20 billion / Increase in business profit ¥7.7 billion |
| Key KPIs | Office vacancy rate in the Tokyo metropolitan area (standalone basis) 1.6 %, Occupancy rate of domestic rental-focused hotels 85 %, Number of managed parking spaces 252,857 Units, Number of brokerage transactions 36,152 Engagements, Number of commissioned sales transactions 1,364 Engagements, Value of orders for new construction contracts ¥131,294 million |
| Unit price and quantity metrics | Domestic residential property sales Condominiums Number of units sold 2,747 units (YoY -25.6%) / Unit price per property ¥14,592 10,000 (YoY +42.7%) / Detached houses Number of units sold 407 units (YoY -2.4%) / Unit price per property ¥9,461 10,000 (YoY +9.6%) |
| Medium-term management plan targets | Plan Under INNOVATION 2030, business profit of at least ¥440 billion, net income attributable to owners of the parent of at least ¥270 billion, and ROE of at least 8.5% for the fiscal year ending March 2027 / Comparison with actual results Achieved one year ahead of schedule. Fiscal year ended March 2026 results: business profit of ¥445.1 billion, net income of ¥278.6 billion and ROE of 8.7% |
| Financial targets | ROE Target At least 8.5% / Actual results 8.7% |
| Annual Dividend | Current fiscal year ¥35 per share / Next period ¥37 per share / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | Total payout ratio 54.9% (planned for the current fiscal year) / Payout ratio Not disclosed |
| Acquisition of treasury shares | Repurchase authorization amount ¥40 billion / Period Additional purchases under consideration during the next fiscal year / Repurchase amount already authorized for the current fiscal year ¥75 billion |
| Orders received and order backlog | Value of orders for new construction contracts ¥131,294 million |
| New initiatives | Set business profit as a new profit metric, Increase the annual dividend for the next fiscal year to ¥37 per share, Decided to repurchase ¥40 billion of treasury shares as part of a flexible capital policy |
Items this document does not state (10)
Operating profit marginSelling, general and administrative expensesResults for the three months of the current quarterNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookCapital 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 main reasons were increased earnings from domestic and overseas offices in Leasing; progress in deliveries of domestic residential properties and accelerated asset turnover through integrated management of properties for sale and fixed assets in Property Sales; higher revenue from the car-sharing business, management fees associated with increased facility sales, and higher project management fees in Management; and higher ADRs and occupancy rates at hotels and resorts, together with revised usage fees at Tokyo Dome, in Facility Operations.
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.