Worth reading
47Recurring
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
8779
¥ million (year-on-year increase in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFiscal year ending March 2026, full year8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥50,855 million+20.9%
Operating profit¥15,109 million+14.5%
Ordinary income¥12,980 million+11.4%
Net income¥11,032 million+15.3%
Full-year earnings forecast
Fiscal year ending March 2026
Net Sales
¥49,000 million
Operating profit
¥13,900 million
Ordinary income
¥11,700 million
Net income
¥9,700 million
EPS
¥145.22
Fiscal year ending March 2027
Net Sales
¥63,800 million
Operating profit
¥15,800 million
Ordinary income
¥13,000 million
Net income
¥11,500 million
EPS
¥174.06
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 Sales103.8 %
Operating profit108.7 %
Ordinary income110.9 %
Net income113.7 %
EPS114.1 %
Building Business
Net Sales103.7 %
Operating profit107 %
Asset Management Business
Net Sales105 %
Operating profit109.5 %
Gains on property sales
Forecast for the fiscal year ending March 2027
1Q2 %
2Q36 %
3Q40 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Increase in hotel revenueApproximately ¥1.2 billion
- Revenue increase from rent increasesApproximately ¥200 million
- Revenue increase from filling vacant space and other factorsApproximately ¥200 million
- Revenue increase from higher income recognized during the period due to property acquisitions and completions, among other factorsApproximately ¥200 million
- Revenue decrease from lower income recognized during the period due to property sales, among other factorsApproximately ¥400 million
- Increase in property sale proceeds¥6,710 million
- Increase in gains on property sales¥1,447 million
New initiatives
- Reduction of 5 strategically held shareholdings by approximately ¥3.3 billion
- Share buyback of approximately ¥1 billion
- Cancellation of 6.7 million treasury shares
- The building in the Sapporo redevelopment project has been named SAPPORO ONE
- Obtained ZEB Oriented certification for the office-use portion
- Certified by the City of Sapporo as a zero-carbon promotion building
Key KPIsA metric the company considers important as a management benchmark.
- EPS¥165.63Year on year against the same period last year+17.0%
- ROE9 %Prior-year period7.9
- ROA
- Consolidated vacancy rate2.27 %
- Net debt-to-equity ratio1.9 times
- Equity ratio28.1 %
- NAV per share¥3,457
Segment results
Building Business
Net Sales
¥46,236 million+21.7%
Operating profit
¥14,657 million+12.7%
Asset Management Business
Net Sales
¥4,619 million+13.3%
Operating profit
¥2,737 million+16.2%
Financial targets
ROE8% or higher
Actual ROE9.0%
Actual net debt-to-equity ratio1.9 times
Actual equity ratio28.1%
Annual Dividend
Fiscal year ending March 2026 forecast
Annual¥98 (including a special dividend of ¥15)
Forecast for the fiscal year ending March 2027
Annual¥103 (including a ¥15 special dividend)
Payout ratio
Consolidated payout ratio of approximately 50%Acquisition of treasury shares
Approximately ¥1 billion
PeriodFiscal year ending March 2026
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥50,855 million (YoY +20.9%) |
| Operating profit | ¥15,109 million (YoY +14.5%) |
| Ordinary income | ¥12,980 million (YoY +11.4%) |
| Net income | ¥11,032 million (YoY +15.3%) |
| Full-year earnings forecast | Fiscal year ending March 2026 Net Sales ¥49,000 million / Operating profit ¥13,900 million / Ordinary income ¥11,700 million / Net income ¥9,700 million / EPS ¥145.22 / Fiscal year ending March 2027 Net Sales ¥63,800 million / Operating profit ¥15,800 million / Ordinary income ¥13,000 million / Net income ¥11,500 million / EPS ¥174.06 |
| Progress against full-year forecast | Consolidated Net Sales 103.8 % / Operating profit 108.7 % / Ordinary income 110.9 % / Net income 113.7 % / EPS 114.1 % / Building Business Net Sales 103.7 % / Operating profit 107 % / Asset Management Business Net Sales 105 % / Operating profit 109.5 % / Gains on property sales Forecast for the fiscal year ending March 2027 1Q 2 % / 2Q 36 % / 3Q 40 % |
| Segment results | Building Business Net Sales ¥46,236 million (YoY +21.7%) / Operating profit ¥14,657 million (YoY +12.7%) / Asset Management Business Net Sales ¥4,619 million (YoY +13.3%) / Operating profit ¥2,737 million (YoY +16.2%) |
| Breakdown of Factors Affecting the Change | Factors Increase in hotel revenue / Amount Approximately ¥1.2 billion, Factors Revenue increase from rent increases / Amount Approximately ¥200 million, Factors Revenue increase from filling vacant space and other factors / Amount Approximately ¥200 million, Factors Revenue increase from higher income recognized during the period due to property acquisitions and completions, among other factors / Amount Approximately ¥200 million, Factors Revenue decrease from lower income recognized during the period due to property sales, among other factors / Amount Approximately ¥400 million, Factors Increase in property sale proceeds / Amount ¥6,710 million, Factors Increase in gains on property sales / Amount ¥1,447 million |
| Key KPIs | Indicator name EPS / Value ¥165.63 / Year on year against the same period last year ¥17, Indicator name ROE / Value 9 % / Prior-year period 7.9 %, Indicator name ROA / Value Not disclosed, Indicator name Consolidated vacancy rate / Value 2.27 %, Indicator name Net debt-to-equity ratio / Value 1.9 times, Indicator name Equity ratio / Value 28.1 %, Indicator name NAV per share / Value ¥3,457 |
| Financial targets | ROE 8% or higher / Actual ROE 9.0% / Actual net debt-to-equity ratio 1.9 times / Actual equity ratio 28.1% |
| Annual Dividend | Fiscal year ending March 2026 forecast Annual ¥98 (including a special dividend of ¥15) / Interim Not disclosed / End of period Not disclosed / Forecast for the fiscal year ending March 2027 Annual ¥103 (including a ¥15 special dividend) / Interim Not disclosed / End of period Not disclosed |
| Payout ratio | Consolidated payout ratio of approximately 50% |
| Acquisition of treasury shares | Amount Approximately ¥1 billion / Number of Shares Not disclosed / Period Fiscal year ending March 2026 |
| New initiatives | Reduction of 5 strategically held shareholdings by approximately ¥3.3 billion, Share buyback of approximately ¥1 billion, Cancellation of 6.7 million treasury shares, The building in the Sapporo redevelopment project has been named SAPPORO ONE, Obtained ZEB Oriented certification for the office-use portion, Certified by the City of Sapporo as a zero-carbon promotion building |
Items this document does not state (15)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsCapital expendituresOrders received and order backlogMarket 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.Higher property sale proceeds, hotel revenue from Caption by Hyatt Kabutocho Tokyo and Mercure Tokyo Hibiya, which opened during the fiscal year, increased rental revenue from rent increases, and gains on sales of investment securities recognized in connection with the reduction of strategically held shares, among other factors.
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.