Worth reading
64In 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
58834
Millions of yen (year-on-year increase in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFirst quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥497,685 million
Operating profit¥121,240 million
Ordinary income¥108,176 million
Net income¥95,416 million profit attributable to owners of the parent
Results for the three months of the current quarter
Operating revenue
¥497,685 million
Operating profit
¥121,240 million
Ordinary income
¥108,176 million
Profit attributable to owners of parent for the quarter
¥95,416 million
Full-year earnings forecast
Operating revenue
¥2,000,000 million
Operating profit
¥370,000 million
Ordinary income
¥295,000 million
Net income for the current fiscal year
¥255,000 million
Profit attributable to owners of the parent
¥235,000 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。
Operating revenue24.9%
Operating profit32.8%
Ordinary income36.7%
Profit attributable to owners of parent for the quarter40.6%
By segmentOperating revenue: Commercial Real Estate Business 25.6%, Marunouchi Business 22.6%, Residential Business 23.8%, Overseas Business 29.8%, Investment Management Business 17.2%, Design, Engineering and Real Estate Services Business 20.2%, Other Businesses 23.6%; operating income is presented by segment
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Gains on property sales included in operating income
First quarter of the fiscal year ending March 2027¥53,000 million
First quarter of the fiscal year ending March 2026¥3,000 million
Change¥50,000 million
Gain on sale of investment securities
First quarter of the fiscal year ending March 2027¥30,228 million
First quarter of the fiscal year ending March 2026¥7,892 million
Change¥22,335 million
Loss related to disposal of non-current assets
First quarter of the fiscal year ending March 2027¥0 million
First quarter of the fiscal year ending March 2026¥11,491 million
Change¥-11,491 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Average exchange rate during the period (yen/USD)
155 Yen/dollar
Average exchange rate during the period (yen/GBP)
210 Yen/GBP
Period-end exchange rate (yen/USD)
155 Yen/dollar
Period-end exchange rate (yen/GBP)
210 Yen/GBP
Average interest rate
1.99 %
Key KPIsA metric the company considers important as a management benchmark.
- National office vacancy rate (Mitsubishi Estate standalone)2.32 %Year on year against the same period last yearImproved from 2.43% in June 2025
- Marunouchi office vacancy rate0.49 %Year on year against the same period last yearImproved from 1.71% in June 2025
- Domestic condominium units recognized as revenue483 unitsYear on year against the same period last yearIncreased from 461 units in the first quarter of FY2026/3
- Gross profit margin on domestic condominiums39.3 %Year on year against the same period last yearRose from 39.0% in the first quarter of FY2026/3
- Condominium contracted backlog¥311,986 millionYear on year against the same period last yearIncreased from ¥306,078 million in the first quarter of FY2026/3
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Domestic condominiums
Sales
¥82,377 million
Units recognized as revenue
483 units
Gross profit margin
39.3 %
Newly launched units
556 units
Segment results
Operating revenue
Commercial Real Estate Business
¥135,485 million
Year-on-year change38,070
Marunouchi business
¥101,596 million
Year-on-year change4,482
Housing Business
¥125,935 million
Year-on-year change6,162
Overseas Operations
¥119,214 million
Year-on-year change88,830
Investment Management Business
¥11,195 million
Year-on-year change3,087
Design, engineering and real estate services business
¥18,150 million
Year-on-year change576
Other Businesses
¥3,543 million
Year-on-year change671
Operating profit
Commercial Real Estate Business
¥30,027 million
Year-on-year change13,742
Marunouchi business
¥27,240 million
Year-on-year change2,613
Housing Business
¥23,305 million
Year-on-year change3,461
Overseas Operations
¥43,036 million
Year-on-year change36,663
Investment Management Business
¥1,440 million
Year-on-year change368
Design, engineering and real estate services business
¥1,412 million
Year-on-year change-455
Other Businesses
¥-146 million
Year-on-year change490
Financial targets
ROE
Actual results8.5
Results unit%
Full-year outlookApproximately 9%
Debt-to-equity ratio
Actual results1.34
Results unittimes
Full-year outlook1.44
Net debt to EBITDA
Actual results7.4
Results unittimes
Full-year outlook7.5
Capital expenditures
¥733,000 million full-year forecast
Annual Dividend
Annual dividend per share
¥49
Payout ratio
25 %
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥497,685 million |
| Operating profit | ¥121,240 million |
| Ordinary income | ¥108,176 million |
| Net income | ¥95,416 million (profit attributable to owners of the parent) |
| Results for the three months of the current quarter | Operating revenue ¥497,685 million / Operating profit ¥121,240 million / Ordinary income ¥108,176 million / Profit attributable to owners of parent for the quarter ¥95,416 million |
| Full-year earnings forecast | Operating revenue ¥2,000,000 million / Operating profit ¥370,000 million / Ordinary income ¥295,000 million / Net income for the current fiscal year ¥255,000 million / Profit attributable to owners of the parent ¥235,000 million |
| Progress against full-year forecast | Operating revenue 24.9% / Operating profit 32.8% / Ordinary income 36.7% / Profit attributable to owners of parent for the quarter 40.6% / By segment Operating revenue: Commercial Real Estate Business 25.6%, Marunouchi Business 22.6%, Residential Business 23.8%, Overseas Business 29.8%, Investment Management Business 17.2%, Design, Engineering and Real Estate Services Business 20.2%, Other Businesses 23.6%; operating income is presented by segment |
| Segment results | Operating revenue Commercial Real Estate Business ¥135,485 million / Marunouchi business ¥101,596 million / Housing Business ¥125,935 million / Overseas Operations ¥119,214 million / Investment Management Business ¥11,195 million / Design, engineering and real estate services business ¥18,150 million / Other Businesses ¥3,543 million / Operating profit Commercial Real Estate Business ¥30,027 million / Marunouchi business ¥27,240 million / Housing Business ¥23,305 million / Overseas Operations ¥43,036 million / Investment Management Business ¥1,440 million / Design, engineering and real estate services business ¥1,412 million / Other Businesses ¥-146 million |
| Breakdown of Factors Affecting the Change | Gains on property sales included in operating income First quarter of the fiscal year ending March 2027 ¥53,000 million / First quarter of the fiscal year ending March 2026 ¥3,000 million / Change ¥50,000 million / Gain on sale of investment securities First quarter of the fiscal year ending March 2027 ¥30,228 million / First quarter of the fiscal year ending March 2026 ¥7,892 million / Change ¥22,335 million / Loss related to disposal of non-current assets First quarter of the fiscal year ending March 2027 ¥0 million / First quarter of the fiscal year ending March 2026 ¥11,491 million / Change ¥-11,491 million |
| Key KPIs | Indicator name National office vacancy rate (Mitsubishi Estate standalone) / Value 2.32 % / Year on year against the same period last year Improved from 2.43% in June 2025, Indicator name Marunouchi office vacancy rate / Value 0.49 % / Year on year against the same period last year Improved from 1.71% in June 2025, Indicator name Domestic condominium units recognized as revenue / Value 483 units / Year on year against the same period last year Increased from 461 units in the first quarter of FY2026/3, Indicator name Gross profit margin on domestic condominiums / Value 39.3 % / Year on year against the same period last year Rose from 39.0% in the first quarter of FY2026/3, Indicator name Condominium contracted backlog / Value ¥311,986 million / Year on year against the same period last year Increased from ¥306,078 million in the first quarter of FY2026/3 |
| Unit price and quantity metrics | Domestic condominiums Sales ¥82,377 million / Units recognized as revenue 483 units / Gross profit margin 39.3 % / Newly launched units 556 units |
| Assumptions Underlying the Business Outlook | Average exchange rate during the period (yen/USD) 155 Yen/dollar / Average exchange rate during the period (yen/GBP) 210 Yen/GBP / Period-end exchange rate (yen/USD) 155 Yen/dollar / Period-end exchange rate (yen/GBP) 210 Yen/GBP / Average interest rate 1.99 % |
| Financial targets | ROE Actual results 8.5 / Results unit % / Full-year outlook Approximately 9% / Debt-to-equity ratio Actual results 1.34 / Results unit times / Full-year outlook 1.44 / Net debt to EBITDA Actual results 7.4 / Results unit times / Full-year outlook 7.5 |
| Annual Dividend | Annual dividend per share ¥49 / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | 25 % |
| Capital expenditures | ¥733,000 million (full-year forecast) |
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey points of the Q&ANew initiatives
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.Gains on property sales included in operating income increased from ¥3.0 billion in the year-earlier quarter to ¥53.0 billion. Gains on sales of investment securities also increased from ¥7.8 billion to ¥30.2 billion, while the ¥11.4 billion loss related to the disposal of fixed assets recorded in the year-earlier quarter did not occur in the current quarter.
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.