Worth reading
76Important
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
140
¥100 million (ordinary profit target for the fiscal year ending March 2029)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+47.5%
基準 1,492Target2,200Hundreds of millions of yen
ROE-2.5pt
基準 15.5Target13%
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planOperating profit of ¥10 billion (plan for the fiscal year ending March 2027) → Operating profit of ¥12.5 billion (actual results for the fiscal year ending March 2026)（25.0%）-0.0%Calculated from the two disclosed figures
Total investment planGross investment of ¥370 billion
Investment amount by sectorField Real estate for sale (net increase) / Amount 550 Hundreds of millions of yen, Field Income-producing real estate / Amount 2,100 Hundreds of millions of yen / Notes Of gross investment, Field Overseas expansion / Amount 200 Hundreds of millions of yen / Notes Of gross investment, Field Leased assets / Amount 180 Hundreds of millions of yen, Field Digital and new businesses (including M&A) / Amount 100 Hundreds of millions of yen
Statements about the use of capital
Payout ratio / DOE policyThe Company has set a dividend payout ratio target of 30% for the fiscal year ending March 2029, the final year of Medium-Term Management Plan 2028, and plans to raise the payout ratio in stages. It will introduce shareholder benefits from June 2026.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalThe theoretical cost of shareholders’ equity based on the CAPM is approximately 8%–9%.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Self-assessment of PBR and share priceThe PBR has remained below 1x, with a PBR of 0.67x for the fiscal year ending March 2026. The Company recognizes the persistently low PER as its primary challenge.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Promotion of “earnings stabilization and maximization of growth opportunities” through restructuring the business portfolio
02Advance the foundation for value creation through focused investment in people and digital initiatives and the practice of sustainability management
03Strengthen the financial foundation supporting growth investment and enhance shareholder value
04Accelerate growth in existing businesses and strengthen operating content
05Expand the rental and operations business (asset-based business) in addition to strengthening the real estate sales business (transaction-based business)
06Develop new businesses in the “work” and “play” fields, where market growth is expected
07Expand the scope of digitalization
08Actively utilize digital technologies to drive business growth
09Promote open innovation
10Strengthen the digital promotion structure and human resources
11Strengthen infrastructure and security
12Strengthen digital governance
13Deepen business operations and strengthen the brand in central Tokyo
14Develop new real estate operating content in the areas of living, working and playing
15Optimize operating and management costs through digital initiatives
16Accelerate sourcing toward the goal of operating 3,000 rooms in 2030
Plan assumptionsProjections based on assumptions, outlook and plans regarding the future as of 12 May 2026, The impact of changes to lease accounting standards is not reflected., Actual results may differ materially from the projections due to uncertainties such as economic trends and the business environment.
Segment targetSegment Housing sales business / Net Sales ¥62.0 billion / Standard +28.4% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Income-producing property sales business / Net Sales ¥84 billion / Standard +49.1% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Hotel Operations Business / Net Sales ¥28 billion / Standard +33.3% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Leasing and operations business / Net Sales ¥33 billion / Standard +107.1% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Other / Net Sales ¥15 billion / Timing Fiscal year ending March 2029, Segment Adjustments / Net Sales -¥2 billion / Timing Fiscal year ending March 2029
Non-financial targetsIndicator Number of MIMARU-operated rooms / Target 3,000 rooms / Timing 2030
Risks identified by the company
Uncertainties such as economic trends and the business environment
The impact of changes to lease accounting standards has not been reflected in earnings forecasts and other projections.
Actual results may differ materially from the projections stated herein.
The accuracy and reliability of the information in this document are not guaranteed.
The contents may be changed without prior notice.
| Item | Details |
|---|---|
| Plan name | Long-Term Vision “Vision2035” and “Medium-Term Management Plan 2028” |
| Plan period | Fiscal 2026 through fiscal 2028 (fiscal years ending March 2027 through March 2029) |
| Progress against the plan | Formulated |
| Sales Target | 1,492 Hundreds of millions of yen → 2,200 Hundreds of millions of yen（47.5%） |
| ROE target | 15.5 % → 13 %（-16.1%） |
| Payout ratio / DOE policy | The Company has set a dividend payout ratio target of 30% for the fiscal year ending March 2029, the final year of Medium-Term Management Plan 2028, and plans to raise the payout ratio in stages. It will introduce shareholder benefits from June 2026. |
| Cost of capital | The theoretical cost of shareholders’ equity based on the CAPM is approximately 8%–9%. |
| Self-assessment of PBR and share price | The PBR has remained below 1x, with a PBR of 0.67x for the fiscal year ending March 2026. The Company recognizes the persistently low PER as its primary challenge. |
| Total investment plan | Gross investment of ¥370 billion |
| Investment amount by sector | Field Real estate for sale (net increase) / Amount 550 Hundreds of millions of yen, Field Income-producing real estate / Amount 2,100 Hundreds of millions of yen / Notes Of gross investment, Field Overseas expansion / Amount 200 Hundreds of millions of yen / Notes Of gross investment, Field Leased assets / Amount 180 Hundreds of millions of yen, Field Digital and new businesses (including M&A) / Amount 100 Hundreds of millions of yen |
| Segment target | Segment Housing sales business / Net Sales ¥62.0 billion / Standard +28.4% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Income-producing property sales business / Net Sales ¥84 billion / Standard +49.1% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Hotel Operations Business / Net Sales ¥28 billion / Standard +33.3% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Leasing and operations business / Net Sales ¥33 billion / Standard +107.1% vs. the fiscal year ending March 2026 / Timing Fiscal year ending March 2029, Segment Other / Net Sales ¥15 billion / Timing Fiscal year ending March 2029, Segment Adjustments / Net Sales -¥2 billion / Timing Fiscal year ending March 2029 |
| Non-financial targets | Indicator Number of MIMARU-operated rooms / Target 3,000 rooms / Timing 2030 |
| Plan assumptions | Projections based on assumptions, outlook and plans regarding the future as of 12 May 2026, The impact of changes to lease accounting standards is not reflected., Actual results may differ materially from the projections due to uncertainties such as economic trends and the business environment. |
| Key initiatives | Promotion of “earnings stabilization and maximization of growth opportunities” through restructuring the business portfolio, Advance the foundation for value creation through focused investment in people and digital initiatives and the practice of sustainability management, Strengthen the financial foundation supporting growth investment and enhance shareholder value, Accelerate growth in existing businesses and strengthen operating content, Expand the rental and operations business (asset-based business) in addition to strengthening the real estate sales business (transaction-based business), Develop new businesses in the “work” and “play” fields, where market growth is expected, Expand the scope of digitalization, Actively utilize digital technologies to drive business growth, Promote open innovation, Strengthen the digital promotion structure and human resources, Strengthen infrastructure and security, Strengthen digital governance, Deepen business operations and strengthen the brand in central Tokyo, Develop new real estate operating content in the areas of living, working and playing, Optimize operating and management costs through digital initiatives, Accelerate sourcing toward the goal of operating 3,000 rooms in 2030 |
| Results under the previous plan | Operating profit of ¥10 billion (plan for the fiscal year ending March 2027) → Operating profit of ¥12.5 billion (actual results for the fiscal year ending March 2026)（25.0%） |
| Risks identified | Uncertainties such as economic trends and the business environment, The impact of changes to lease accounting standards has not been reflected in earnings forecasts and other projections., Actual results may differ materially from the projections stated herein., The accuracy and reliability of the information in this document are not guaranteed., The contents may be changed without prior notice. |
| Publication date | 12 May 2026 |
Items this document does not state (8)
Operating profit targetOperating profit margin targetNet income targetROIC targetTreasury share acquisition policyReason for revision or withdrawalSize of the Target MarketDate of board resolution
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 previous Medium-Term Management Plan 2026 was achieved one year ahead of schedule. The Company will therefore strengthen its business and financial foundations for a new growth stage and build the foundations for realizing Vision2035.
How to read this page
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