Worth reading
46Recurring
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
1800
¥ millions (versus the previous plan for operating profit for the fiscal year ending March 2028)Wording
Conditional
How definitive the wording is.Contents of this document
Medium-Term Management Plan PresentationFiscal year ended March 2026 and plans for the fiscal years ending March 2027 and March 202810 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥477,800 millions new plan for the fiscal year ending March 2028
Operating profit¥43,100 millions new plan for the fiscal year ending March 2028
Ordinary income¥42,700 millions new plan for the fiscal year ending March 2028
Net income¥25,000 millions new plan for the fiscal year ending March 2028
Selling, general and administrative expenses¥60,100 millions new plan for the fiscal year ending March 2028
Gross Profit Margin20.8% for the fiscal year ending March 2027 and 21.6% for the fiscal year ending March 2028. Up 0.2 percentage points and 0.4 percentage points, respectively, versus the previous plan. Year-on-year comparison: Not disclosed.
Operating profit margin8.3% for the fiscal year ending March 2027 and 9.0% for the fiscal year ending March 2028. Versus the previous plan, down 0.1 percentage points for the fiscal year ending March 2027 and up 0.2 percentage points for the fiscal year ending March 2028. Year-on-year comparison: Not disclosed.
Full-year earnings forecastNew plan for the fiscal year ending March 2027: revenue of ¥465,000 million, operating profit of ¥38,500 million, ordinary profit of ¥38,100 million, and net income of ¥22,200 million. New plan for the fiscal year ending March 2028: revenue of ¥477,800 million, operating profit of ¥43,100 million, ordinary profit of ¥42,700 million, and net income of ¥25,000 million.
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Upward revision, reflecting performance above planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Versus the previous plan for the fiscal year ending March 2028: revenue +¥9,800 million, cost of sales +¥5,700 million, gross profit +¥4,100 million, SG&A expenses +¥2,300 million, operating profit +¥1,800 million, ordinary profit +¥2,600 million, and net income +¥1,100 million. Factors include higher contracted rent per unit, orders received in the development business exceeding the plan, higher costs due to inflation, staff expansion and salary increases, and lower interest expenses from refinancing.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Contracted rent per unit, occupancy rate, orders received in the development business, cost increases due to inflation, staff expansion and salary increases, and lower interest expenses from refinancing. Specific figures for foreign exchange rates, raw material prices, interest rate levels, and other items are Not disclosed.New initiatives
The numerical targets in the Medium-Term Management Plan were updated. The plans for occupancy rates and contracted rent per unit in the rental business, managed units in the development business, and earnings were revised.Key KPIsA metric the company considers important as a management benchmark.
Average occupancy rate during the period of 85.78%, occupancy rate at period-end of 88.78%, contracted rent per unit index of 114, 540,000 managed units, orders received for 140 buildings, and orders received for 1,900 units, all for the fiscal year ended March 2026.Unit price and quantity metricsThese figures show sales broken down by price and volume.
Contracted rent per unit index: 108 for the fiscal year ended March 2025, 114 for the fiscal year ended March 2026, and 116 for both the plan for the fiscal year ending March 2027 and the plan for the fiscal year ending March 2028. Orders received: 140 buildings and 1,900 units for the fiscal year ended March 2026.Segment results
Rental business: average occupancy rate during the period of 85.78%, occupancy rate at period-end of 88.78%, and contracted rent per unit index of 114 for the fiscal year ended March 2026. Development business: orders received for 140 buildings and 1,900 units for the fiscal year ended March 2026. Segment revenue and profit: Not disclosed.Medium-term management plan targets
New plan under New Growth 2028 for the fiscal year ending March 2028: revenue of ¥477,800 million, operating profit of ¥43,100 million, ordinary profit of ¥42,700 million, net income of ¥25,000 million, average occupancy rate during the period of 87.30%, occupancy rate at period-end of 89.88%, contracted rent per unit index of 116, and 534,000 managed units. A comparison with the previous plan is provided.Orders received and order backlog
Orders received for 140 buildings and 1,900 units for the fiscal year ended March 2026. Order value and order backlog: Not disclosed.Number of employees
A policy of expanding the workforce is stated, but the number of employees, changes, and hiring plan are Not disclosed.| Item | Details |
|---|---|
| Document type | Medium-Term Management Plan Presentation |
| Fiscal Period Covered | Fiscal year ended March 2026 and plans for the fiscal years ending March 2027 and March 2028 |
| Net Sales | ¥477,800 millions (new plan for the fiscal year ending March 2028) |
| Operating profit | ¥43,100 millions (new plan for the fiscal year ending March 2028) |
| Ordinary income | ¥42,700 millions (new plan for the fiscal year ending March 2028) |
| Net income | ¥25,000 millions (new plan for the fiscal year ending March 2028) |
| Gross Profit Margin | 20.8% for the fiscal year ending March 2027 and 21.6% for the fiscal year ending March 2028. Up 0.2 percentage points and 0.4 percentage points, respectively, versus the previous plan. Year-on-year comparison: Not disclosed. |
| Operating profit margin | 8.3% for the fiscal year ending March 2027 and 9.0% for the fiscal year ending March 2028. Versus the previous plan, down 0.1 percentage points for the fiscal year ending March 2027 and up 0.2 percentage points for the fiscal year ending March 2028. Year-on-year comparison: Not disclosed. |
| Selling, general and administrative expenses | ¥60,100 millions (new plan for the fiscal year ending March 2028) |
| Full-year earnings forecast | New plan for the fiscal year ending March 2027: revenue of ¥465,000 million, operating profit of ¥38,500 million, ordinary profit of ¥38,100 million, and net income of ¥22,200 million. New plan for the fiscal year ending March 2028: revenue of ¥477,800 million, operating profit of ¥43,100 million, ordinary profit of ¥42,700 million, and net income of ¥25,000 million. |
| Self-assessment against the plan | Upward revision, reflecting performance above plan |
| Segment results | Rental business: average occupancy rate during the period of 85.78%, occupancy rate at period-end of 88.78%, and contracted rent per unit index of 114 for the fiscal year ended March 2026. Development business: orders received for 140 buildings and 1,900 units for the fiscal year ended March 2026. Segment revenue and profit: Not disclosed. |
| Breakdown of Factors Affecting the Change | Versus the previous plan for the fiscal year ending March 2028: revenue +¥9,800 million, cost of sales +¥5,700 million, gross profit +¥4,100 million, SG&A expenses +¥2,300 million, operating profit +¥1,800 million, ordinary profit +¥2,600 million, and net income +¥1,100 million. Factors include higher contracted rent per unit, orders received in the development business exceeding the plan, higher costs due to inflation, staff expansion and salary increases, and lower interest expenses from refinancing. |
| Key KPIs | Average occupancy rate during the period of 85.78%, occupancy rate at period-end of 88.78%, contracted rent per unit index of 114, 540,000 managed units, orders received for 140 buildings, and orders received for 1,900 units, all for the fiscal year ended March 2026. |
| Unit price and quantity metrics | Contracted rent per unit index: 108 for the fiscal year ended March 2025, 114 for the fiscal year ended March 2026, and 116 for both the plan for the fiscal year ending March 2027 and the plan for the fiscal year ending March 2028. Orders received: 140 buildings and 1,900 units for the fiscal year ended March 2026. |
| Number of employees | A policy of expanding the workforce is stated, but the number of employees, changes, and hiring plan are Not disclosed. |
| Assumptions Underlying the Business Outlook | Contracted rent per unit, occupancy rate, orders received in the development business, cost increases due to inflation, staff expansion and salary increases, and lower interest expenses from refinancing. Specific figures for foreign exchange rates, raw material prices, interest rate levels, and other items are Not disclosed. |
| Medium-term management plan targets | New plan under New Growth 2028 for the fiscal year ending March 2028: revenue of ¥477,800 million, operating profit of ¥43,100 million, ordinary profit of ¥42,700 million, net income of ¥25,000 million, average occupancy rate during the period of 87.30%, occupancy rate at period-end of 89.88%, contracted rent per unit index of 116, and 534,000 managed units. A comparison with the previous plan is provided. |
| Orders received and order backlog | Orders received for 140 buildings and 1,900 units for the fiscal year ended March 2026. Order value and order backlog: Not disclosed. |
| New initiatives | The numerical targets in the Medium-Term Management Plan were updated. The plans for occupancy rates and contracted rent per unit in the rental business, managed units in the development business, and earnings were revised. |
Items this document does not state (11)
Results for the three months of the current quarterProgress against full-year forecastNumber of stores and locationsRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresMarket 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.The revision reflects the higher occupancy rate at the end of the fiscal year ended March 2026 and the increase in contracted rent per unit, a solid demand environment supported by corporate demand, and orders received in the development business exceeding the plan. It also incorporates higher costs, including cost of sales and personnel expenses, resulting from inflation, staff expansion, and salary increases. Lower interest expenses from refinancing were also reflected as a factor behind the upward revision to ordinary profit.
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.