Worth reading
50Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
80.8
¥100 million (year-on-year increase in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentation materialsSecond quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥729.6 100 million+12.5%
Operating profit¥42.7 100 million-35.1%
Ordinary income¥29.9 100 million-50.5%
Net income¥18.3 100 million-55.5%
Selling, general and administrative expenses¥107 100 million
Full-year earnings forecast
Net Sales
¥1,880 100 million
Gross profit
¥385 100 million
Selling, general and administrative expenses
¥249 100 million
Operating profit
¥136 100 million
Ordinary income
¥110 100 million
Net income
¥72 100 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 Sales39%
Ordinary income27%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Generally in line with planAssumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Construction costs, material prices and labor costs remaining elevated, rising crude oil prices, higher interest rates, housing demand and inbound tourism demand are described qualitatively. Numerical assumptions: Not disclosed.New initiatives
- Expansion of the rental and operations business through the inclusion of 株式会社WOOC as a consolidated subsidiary
- Participation in Australia's first build-to-rent (BTR) residential development project
- Launch of reservations for TT GENESIS, the second project in Vietnam
- The first CHAPTERS facility is scheduled to open in January 2027
- Opening of 2 new hotels
Key KPIsA metric the company considers important as a management benchmark.
- Contract progress rate for new-build condominiums and detached houses78.6 %
- Contract progress rate for renovated condominiums44.3 %
- Hotel operations RevPAR¥40 thousandYear on year against the same period last yearGainers
- Shared Office Utilization84.2 %
- Number of shared-office locations211 Location
- Number of residential sublease units under management10,314 units
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Number of new-build condominiums and detached houses delivered147 units
- Average selling price of new-build condominiums and detached houses¥6,783 10,000
- Number of renovated condominiums delivered89 units
- Average selling price of renovated condominiums¥12,678 10,000
- Average hotel room rate¥56 thousand
- Hotel occupancy rate71.1 %
- Hotel RevPAR¥40 thousand
Segment results
Residential Sales business
Net Sales204.5
Operating profit6
Year-on-year change in revenue-1.0%
Operating profit year on year-42.1%
Income-Producing Real Estate Sales business
Net Sales207
Operating profit39.2
Year-on-year change in revenue-10.6%
Operating profit year on year-24.4%
Hotel Operations business
Net Sales106.4
Operating profit22.4
Year-on-year change in revenue+5.1%
Operating profit year on year-2.5%
Rental and Operations business
Net Sales126.1
Operating profit4.6
Year-on-year change in revenue+58.6%
Operating profit year on year+53.7%
Other business
Net Sales93.2
Operating profit-12.5
Year-on-year change in revenue+153.0%
Medium-term management plan targets
Hotel rooms operated3,000 rooms by 2030
Payout ratio30% for the fiscal year ending March 2029
Market Size / Share
Domestic real estate investment in the first half of 2026 was described as reaching a record high. The specific amount and market share were Not disclosed.Number of stores and locations
36 hotels with 1,500 operating rooms and 616 rooms before opening. 16 share offices and 211 directly operated locations, including share offices and similar facilities. The period's openings included 2 hotels and Ruff -Laugh Chiba.Annual Dividend
Annual dividend per share¥53
Interim Dividend¥16
Year-end dividend¥37
Payout ratio
25 %
| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥729.6 100 million (YoY +12.5%) |
| Operating profit | ¥42.7 100 million (YoY -35.1%) |
| Ordinary income | ¥29.9 100 million (YoY -50.5%) |
| Net income | ¥18.3 100 million (YoY -55.5%) |
| Selling, general and administrative expenses | ¥107 100 million |
| Full-year earnings forecast | Net Sales ¥1,880 100 million / Gross profit ¥385 100 million / Selling, general and administrative expenses ¥249 100 million / Operating profit ¥136 100 million / Ordinary income ¥110 100 million / Net income ¥72 100 million |
| Progress against full-year forecast | Net Sales 39% / Ordinary income 27% |
| Self-assessment against the plan | Generally in line with plan |
| Segment results | Residential Sales business Net Sales 204.5 / Operating profit 6 / Year-on-year change in revenue -1.0% / Operating profit year on year -42.1% / Income-Producing Real Estate Sales business Net Sales 207 / Operating profit 39.2 / Year-on-year change in revenue -10.6% / Operating profit year on year -24.4% / Hotel Operations business Net Sales 106.4 / Operating profit 22.4 / Year-on-year change in revenue +5.1% / Operating profit year on year -2.5% / Rental and Operations business Net Sales 126.1 / Operating profit 4.6 / Year-on-year change in revenue +58.6% / Operating profit year on year +53.7% / Other business Net Sales 93.2 / Operating profit -12.5 / Year-on-year change in revenue +153.0% / Operating profit year on year Not disclosed |
| Key KPIs | Indicator name Contract progress rate for new-build condominiums and detached houses / Value 78.6 % / Year on year against the same period last year Not disclosed, Indicator name Contract progress rate for renovated condominiums / Value 44.3 % / Year on year against the same period last year Not disclosed, Indicator name Hotel operations RevPAR / Value ¥40 thousand / Year on year against the same period last year Gainers, Indicator name Shared Office Utilization / Value 84.2 % / Year on year against the same period last year Not disclosed, Indicator name Number of shared-office locations / Value 211 Location / Year on year against the same period last year Not disclosed, Indicator name Number of residential sublease units under management / Value 10,314 units / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Indicator name Number of new-build condominiums and detached houses delivered / Value 147 units, Indicator name Average selling price of new-build condominiums and detached houses / Value ¥6,783 10,000, Indicator name Number of renovated condominiums delivered / Value 89 units, Indicator name Average selling price of renovated condominiums / Value ¥12,678 10,000, Indicator name Average hotel room rate / Value ¥56 thousand, Indicator name Hotel occupancy rate / Value 71.1 %, Indicator name Hotel RevPAR / Value ¥40 thousand |
| Number of stores and locations | 36 hotels with 1,500 operating rooms and 616 rooms before opening. 16 share offices and 211 directly operated locations, including share offices and similar facilities. The period's openings included 2 hotels and Ruff -Laugh Chiba. |
| Assumptions Underlying the Business Outlook | Construction costs, material prices and labor costs remaining elevated, rising crude oil prices, higher interest rates, housing demand and inbound tourism demand are described qualitatively. Numerical assumptions: Not disclosed. |
| Medium-term management plan targets | Hotel rooms operated 3,000 rooms by 2030 / Payout ratio 30% for the fiscal year ending March 2029 |
| Annual Dividend | Annual dividend per share ¥53 / Interim Dividend ¥16 / Year-end dividend ¥37 |
| Payout ratio | 25 % |
| Market Size / Share | Domestic real estate investment in the first half of 2026 was described as reaching a record high. The specific amount and market share were Not disclosed. |
| New initiatives | Expansion of the rental and operations business through the inclusion of 株式会社WOOC as a consolidated subsidiary, Participation in Australia's first build-to-rent (BTR) residential development project, Launch of reservations for TT GENESIS, the second project in Vietnam, The first CHAPTERS facility is scheduled to open in January 2027, Opening of 2 new hotels |
Items this document does not state (11)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterBreakdown of Factors Affecting the ChangeNumber of employeesRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey 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.Revenue increased due to the expansion of the rental and operations business following the inclusion of 株式会社WOOC as a consolidated subsidiary, as well as the delivery of condominium units and detached houses in the overseas business. Profit declined due to the reaction to the highly profitable hotel facilities delivered in the same period of the previous year, the recognition of inventory valuation losses in the overseas business, higher financing costs and the reaction to one-time profit in the previous fiscal year.
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