Worth reading
57In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
6.6
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales1,746,148¥ millionYear on year +10.5%Progress 87.3%
Operating profit329,730¥ millionYear on year +6.6%Progress 89.1%
Ordinary income273,086¥ millionYear on year +3.9%Progress 92.6%
Net income attributable to owners of the parent222,507¥ millionYear on year +17.5%Progress 94.7%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥181.80
Operating Margin18.9%
Financial position at period-end
Total assets8,566,247¥ million
of which net assets 2,877,585 ¥ millionEquity ratio 31.4%vs. prior year-end -0.7pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+508,917
Investment-441,457
Financials-39,776
Net change+27,684
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥280,133 million
Segment revenue
Commercial Real Estate Business616,95934.2%+78,126.0%
Marunouchi business408,99622.7%+14,400.0%
Housing Business453,88125.2%+31,978.0%
Overseas Business198,85311.0%+38,666.0%
Investment Management Business37,0002.1%+3,968.0%
Design, engineering and real estate services business88,4124.9%+6,224.0%
Segment profit
Commercial Real Estate Business135,67737.5%+11,016.0%
Marunouchi business97,53427.0%+1,360.0%
Housing Business57,28715.8%+9,260.0%
Overseas Business57,11115.8%+11,288.0%
Investment Management Business1,4350.4%+10,515.0%
Design, engineering and real estate services business12,6143.5%+1,914.0%
Regional salesRegion Japan / Operating revenue ¥1,524,198 million, Region United States / Operating revenue ¥158,516 million, Region Europe / Operating revenue ¥20,908 million, Region Asia / Operating revenue ¥42,525 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥2,000,000 million (YoY +14.5%)
Operating profit¥370,000 million (YoY +12.2%)
Ordinary income¥295,000 million (YoY +8.0%)
Net income¥235,000 million (YoY +5.6%)
Annual Dividend Forecast¥43.00 → ¥49.00
Payout ratioCurrent fiscal year 25.3 % / Forecast 25 %
Shareholder Return PolicyTarget a consolidated payout ratio of approximately 30%; in principle, annual dividends of at least ¥60 from 2030 and progressive annual dividend increases of ¥3 through 2030.
Factors Behind Changes in Business Performance
Revenue and profit increased due to the start of operations at new buildings, higher store sales at commercial facilities, real estate sales, strong leasing activity and upward rent revisions, higher average selling prices per housing unit, and property sales overseas. The investment management business saw lower revenue and profit because the one-off fee recognized in the previous fiscal year fell away.
Disclosure regarding the going concern assumption
No applicable matters (There are no applicable matters.)
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 1 / Company name 橋本デベロップメント特定目的会社 / Excluded Number of companies 0 / Company name None
Material subsequent eventsAt a meeting of the Board of Directors held on 13 May 2026, the company resolved to acquire treasury shares. The forecast basic earnings per share for the consolidated results reflects the impact of the treasury share acquisition.
Impairment lossOmitted for the current consolidated fiscal year because the amount is immaterial. Amount and affected assets: Not disclosed
Breakdown of extraordinary income (loss)Extraordinary income Item Gain on sale of non-current assets / Amount ¥5,383 million, Item Gain on sale of investment securities / Amount ¥98,135 million, Item Gain on negative goodwill / Amount ¥2,150 million, Item Gain on step acquisition / Amount ¥3,920 million / Extraordinary loss Item Loss related to disposal of non-current assets / Amount ¥25,289 million, Item Impairment Losses on Shares of Affiliates / Amount ¥2,753 million, Item Provision for doubtful accounts for affiliated companies / Amount ¥5,286 million
Depreciation and amortization¥108,029 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End1,217,233,706
Treasury Shares at Period-End10,763,604
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥1,746,148 million (YoY +10.5%) |
| Operating profit | ¥329,730 million (YoY +6.6%) |
| Ordinary income | ¥273,086 million (YoY +3.9%) |
| Profit attributable to owners of the parent | ¥222,507 million (YoY +17.5%) |
| Net income per share | ¥181.80 |
| Operating Margin | 18.9% |
| Equity ratio | End of the current fiscal period 31.4% / End of previous period 32.1% |
| Total assets | ¥8,566,247 million |
| Net assets | ¥2,877,585 million |
| Cash flows from operating activities | ¥508,917 million |
| Cash flows from investing activities | ¥-441,457 million |
| Cash flows from financing activities | ¥-39,776 million |
| Cash and cash equivalents at end of period | ¥280,133 million |
| Full-year earnings forecast | Net Sales ¥2,000,000 million (YoY +14.5%) / Operating profit ¥370,000 million (YoY +12.2%) / Ordinary income ¥295,000 million (YoY +8.0%) / Net income ¥235,000 million (YoY +5.6%) |
| Annual Dividend Forecast | ¥43.00 → ¥49.00 |
| Payout ratio | Current fiscal year 25.3 % / Forecast 25 % |
| Shareholder Return Policy | Target a consolidated payout ratio of approximately 30%; in principle, annual dividends of at least ¥60 from 2030 and progressive annual dividend increases of ¥3 through 2030. |
| Segment revenue | Segment Commercial Real Estate Business / Net Sales ¥616,959 million / Year on year against the same period last year Revenue increase (¥78,126 million), Segment Marunouchi business / Net Sales ¥408,996 million / Year on year against the same period last year Revenue increase (¥14,400 million), Segment Housing Business / Net Sales ¥453,881 million / Year on year against the same period last year Revenue increase (¥31,978 million), Segment Overseas Business / Net Sales ¥198,853 million / Year on year against the same period last year Revenue increase (¥38,666 million), Segment Investment Management Business / Net Sales ¥37,000 million / Year on year against the same period last year Revenue decrease (¥3,968 million), Segment Design, engineering and real estate services business / Net Sales ¥88,412 million / Year on year against the same period last year Revenue increase (¥6,224 million) |
| Segment profit | Segment Commercial Real Estate Business / Segment profit ¥135,677 million / Year on year against the same period last year Profit increase (¥11,016 million), Segment Marunouchi business / Segment profit ¥97,534 million / Year on year against the same period last year Profit increase (¥1,360 million), Segment Housing Business / Segment profit ¥57,287 million / Year on year against the same period last year Profit increase (¥9,260 million), Segment Overseas Business / Segment profit ¥57,111 million / Year on year against the same period last year Profit increase (¥11,288 million), Segment Investment Management Business / Segment profit ¥1,435 million / Year on year against the same period last year Profit decrease (¥10,515 million), Segment Design, engineering and real estate services business / Segment profit ¥12,614 million / Year on year against the same period last year Profit increase (¥1,914 million) |
| Regional sales | Region Japan / Operating revenue ¥1,524,198 million, Region United States / Operating revenue ¥158,516 million, Region Europe / Operating revenue ¥20,908 million, Region Asia / Operating revenue ¥42,525 million |
| Depreciation and amortization | ¥108,029 million |
| Impairment loss | Omitted for the current consolidated fiscal year because the amount is immaterial. Amount and affected assets: Not disclosed |
| Breakdown of extraordinary income (loss) | Extraordinary income Item Gain on sale of non-current assets / Amount ¥5,383 million, Item Gain on sale of investment securities / Amount ¥98,135 million, Item Gain on negative goodwill / Amount ¥2,150 million, Item Gain on step acquisition / Amount ¥3,920 million / Extraordinary loss Item Loss related to disposal of non-current assets / Amount ¥25,289 million, Item Impairment Losses on Shares of Affiliates / Amount ¥2,753 million, Item Provision for doubtful accounts for affiliated companies / Amount ¥5,286 million |
| Disclosure regarding the going concern assumption | No applicable matters (There are no applicable matters.) |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 1 / Company name 橋本デベロップメント特定目的会社 / Excluded Number of companies 0 / Company name None |
| Material subsequent events | At a meeting of the Board of Directors held on 13 May 2026, the company resolved to acquire treasury shares. The forecast basic earnings per share for the consolidated results reflects the impact of the treasury share acquisition. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 1,217,233,706 |
| Treasury Shares at Period-End | 10,763,604 |
| Factors Behind Changes in Business Performance | Revenue and profit increased due to the start of operations at new buildings, higher store sales at commercial facilities, real estate sales, strong leasing activity and upward rent revisions, higher average selling prices per housing unit, and property sales overseas. The investment management business saw lower revenue and profit because the one-off fee recognized in the previous fiscal year fell away. |
Items this document does not state (2)
Revision to Earnings ForecastOrders received and order backlog
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.Revenue and profit increased due to the start of operations at new buildings, higher store sales at commercial facilities, real estate sales, strong leasing activity and upward rent revisions, higher average selling prices per housing unit, and property sales overseas. In the investment management business, however, the one-off fee recognized in the previous fiscal year fell away.
How to read this page
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