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Earnings presentation8860FUJI CORPORATION LIMITEDReal estate

Earnings Presentation Materials for the First Quarter of the Fiscal Year Ending March 2027

Revenue and profit declined in the quarter, reflecting the reversal of the large condominium handover recorded in the same quarter of the previous year, as well as higher personnel expenses and interest expense. Meanwhile, growth in existing homes and rental and property management drove the order backlog to a record ¥69.9 billion.

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77Important
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
-4.9
Year-on-year change in revenue (%)
Wording
Conditional
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Contents of this document

Earnings presentationFirst quarter of the fiscal year ending March 202715 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥35,278 million-4.9%
Operating profit¥2,035 million-19.2%
Ordinary income¥1,715 million-27.9%
Net income¥1,116 million-30.4%
Operating profit margin5.8% (6.8% in the same quarter of the previous year, down 1.0 percentage point)-1.0%
Selling, general and administrative expenses¥3,263 million; SG&A-to-revenue ratio: 9.2%
Results for the three months of the current quarterRevenue: ¥35,278 million; operating profit: ¥2,035 million; ordinary profit: ¥1,715 million; quarterly net profit: ¥1,116 million (April-June 2026)
Full-year earnings forecast
Net Sales
¥145,000 million
Operating profit
¥9,100 million
Ordinary income
¥7,000 million
Net income for the current fiscal year
¥4,600 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 Sales24.3%
Operating profit22.4%
Ordinary income24.5%
Quarterly net income24.3%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Generally in line with plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The main factors were the reversal of the large condominium handover, higher SG&A expenses, primarily personnel expenses, and higher interest expense. Existing home demand and inventory accumulation contributed to housing distribution, while the increase in managed units contributed to rental and property management. Amount-based bridge: Not disclosed.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Procurement conditions for construction materials have generally normalized. Condominium handovers are expected to decline from the previous fiscal year, while custom-designed home sales are expected to increase. The forecast reflects expected revisions to policy rates. Other numerical assumptions: Not disclosed.
New initiatives
Increase investment in the land utilization and rental and property management businesses, focus on serviced housing for seniors, intensify IR activities, adopt a progressive dividend policy, expand the shareholder benefit program, and acquire treasury shares
Key KPIsA metric the company considers important as a management benchmark.
  • Order contract backlog¥69,980 million
    Year on year against the same period last year+18.5%
  • Equity ratio30.1%
    Year on year against the same period last yearDecreased by 0.9 percentage points
  • Net debt-to-equity ratio1.63x
    Year on year against the same period last yearUp 0.08 point
  • ROE6.0%
  • Number of used assets held948 units
  • Occupancy rate of serviced housing for seniors97.8%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Custom-designed homes
    Number of versions154 units
    Net Sales¥6,235 million
    Volume in the same quarter of the previous year130 units
    Net sales in the same period of the previous year¥5,493 million
  • Condominiums for Sale
    Number of versions31 units
    Net Sales¥1,284 million
    Volume in the same quarter of the previous year190 units
    Net sales in the same period of the previous year¥8,266 million
  • Existing homes, total
    Number of versions347 units
    Net Sales¥10,356 million
    Volume in the same quarter of the previous year269 units
    Net sales in the same period of the previous year¥6,785 million
  • Units under management
    Number of versions40,932 units
    Year on year against the same period last yearUp 2,330 units
Segment results
  • For-sale housing
    Net Sales¥7,830 million (down 44.1% year on year)
    Profit¥212 million (down 78.0% year on year)
  • Residential Property Distribution
    Net Sales¥10,356 million (up 52.6% year on year)
    Profit¥510 million (up 126.3% year on year)
  • Land utilization
    Net Sales¥7,896 million (up 3.2% year on year)
    Profit¥685 million (down 2.7% year on year)
  • Leasing and Property Management
    Net Sales¥8,886 million (up 7.7% year on year)
    Profit¥1,066 million (up 5.7% year on year)
  • Construction-Related
    Net Sales¥249 million (down 30.3% year on year)
    Profit−¥15 million
  • Other
    Net Sales¥59 million (up 18.2% year on year)
    Profit¥41 million (up 10.6% year on year)
Medium-term management plan targets
FY2027 full-year ROE forecast: 6.0%. This was announced in the medium-term management plan dated 2 May 2025.
Financial targets
Maintain an equity ratio of at least 30%. FY2027 full-year ROE forecast: 6.0%. The company aims to return the net D/E ratio to a declining trend.
Market Size / Share
Ranked 8th nationwide in the 2025 ranking of annual existing-home buy-and-resell sales volume, and 1st in the ranking of operated serviced housing for seniors facilities. Market size and market share figures: Not disclosed.
Orders received and order backlog
Order contract backlog: ¥69,980 million (¥69.98 billion), up 18.5% year on year. New orders: Not disclosed.
Annual Dividend
¥32 (planned), comprising an interim dividend of ¥16 and a year-end dividend of ¥16
Payout ratio
24.9% (FY2027 forecast)
Acquisition of treasury shares
Up to 400,000 shares. The acquisition period was from 18 May 2026 to 16 June 2026, and the acquisition has been completed. Acquisition amount: Not disclosed.
Gross profit
15.0% (15.1% in the same quarter of the previous year, down 0.1 percentage point)-0.1%
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥35,278 million (YoY -4.9%)
Operating profit¥2,035 million (YoY -19.2%)
Ordinary income¥1,715 million (YoY -27.9%)
Net income¥1,116 million (YoY -30.4%)
Gross profit15.0% (15.1% in the same quarter of the previous year, down 0.1 percentage point) (YoY -0.1%)
Operating profit margin5.8% (6.8% in the same quarter of the previous year, down 1.0 percentage point) (YoY -1.0%)
Selling, general and administrative expenses¥3,263 million; SG&A-to-revenue ratio: 9.2%
Results for the three months of the current quarterRevenue: ¥35,278 million; operating profit: ¥2,035 million; ordinary profit: ¥1,715 million; quarterly net profit: ¥1,116 million (April-June 2026)
Full-year earnings forecastNet Sales ¥145,000 million / Operating profit ¥9,100 million / Ordinary income ¥7,000 million / Net income for the current fiscal year ¥4,600 million
Progress against full-year forecastNet Sales 24.3% / Operating profit 22.4% / Ordinary income 24.5% / Quarterly net income 24.3%
Self-assessment against the planGenerally in line with plan
Segment resultsSegment For-sale housing / Net Sales ¥7,830 million (down 44.1% year on year) / Profit ¥212 million (down 78.0% year on year), Segment Residential Property Distribution / Net Sales ¥10,356 million (up 52.6% year on year) / Profit ¥510 million (up 126.3% year on year), Segment Land utilization / Net Sales ¥7,896 million (up 3.2% year on year) / Profit ¥685 million (down 2.7% year on year), Segment Leasing and Property Management / Net Sales ¥8,886 million (up 7.7% year on year) / Profit ¥1,066 million (up 5.7% year on year), Segment Construction-Related / Net Sales ¥249 million (down 30.3% year on year) / Profit −¥15 million, Segment Other / Net Sales ¥59 million (up 18.2% year on year) / Profit ¥41 million (up 10.6% year on year)
Breakdown of Factors Affecting the ChangeThe main factors were the reversal of the large condominium handover, higher SG&A expenses, primarily personnel expenses, and higher interest expense. Existing home demand and inventory accumulation contributed to housing distribution, while the increase in managed units contributed to rental and property management. Amount-based bridge: Not disclosed.
Key KPIsIndicator name Order contract backlog / Value ¥69,980 million / Year on year against the same period last year +18.5%, Indicator name Equity ratio / Value 30.1% / Year on year against the same period last year Decreased by 0.9 percentage points, Indicator name Net debt-to-equity ratio / Value 1.63x / Year on year against the same period last year Up 0.08 point, Indicator name ROE / Value 6.0% / Year on year against the same period last year Not disclosed, Indicator name Number of used assets held / Value 948 units / Year on year against the same period last year Not disclosed, Indicator name Occupancy rate of serviced housing for seniors / Value 97.8% / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name Custom-designed homes / Number of versions 154 units / Net Sales ¥6,235 million / Volume in the same quarter of the previous year 130 units / Net sales in the same period of the previous year ¥5,493 million, Indicator name Condominiums for Sale / Number of versions 31 units / Net Sales ¥1,284 million / Volume in the same quarter of the previous year 190 units / Net sales in the same period of the previous year ¥8,266 million, Indicator name Existing homes, total / Number of versions 347 units / Net Sales ¥10,356 million / Volume in the same quarter of the previous year 269 units / Net sales in the same period of the previous year ¥6,785 million, Indicator name Units under management / Number of versions 40,932 units / Year on year against the same period last year Up 2,330 units
Assumptions Underlying the Business OutlookProcurement conditions for construction materials have generally normalized. Condominium handovers are expected to decline from the previous fiscal year, while custom-designed home sales are expected to increase. The forecast reflects expected revisions to policy rates. Other numerical assumptions: Not disclosed.
Medium-term management plan targetsFY2027 full-year ROE forecast: 6.0%. This was announced in the medium-term management plan dated 2 May 2025.
Financial targetsMaintain an equity ratio of at least 30%. FY2027 full-year ROE forecast: 6.0%. The company aims to return the net D/E ratio to a declining trend.
Annual Dividend¥32 (planned), comprising an interim dividend of ¥16 and a year-end dividend of ¥16
Payout ratio24.9% (FY2027 forecast)
Acquisition of treasury sharesUp to 400,000 shares. The acquisition period was from 18 May 2026 to 16 June 2026, and the acquisition has been completed. Acquisition amount: Not disclosed.
Orders received and order backlogOrder contract backlog: ¥69,980 million (¥69.98 billion), up 18.5% year on year. New orders: Not disclosed.
Market Size / ShareRanked 8th nationwide in the 2025 ranking of annual existing-home buy-and-resell sales volume, and 1st in the ranking of operated serviced housing for seniors facilities. Market size and market share figures: Not disclosed.
New initiativesIncrease investment in the land utilization and rental and property management businesses, focus on serviced housing for seniors, intensify IR activities, adopt a progressive dividend policy, expand the shareholder benefit program, and acquire treasury shares
Items this document does not state (5)
Number of stores and locationsNumber of employeesRisk amount incorporated into the outlookCapital expendituresKey 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 decline reflected the reversal of the large condominium completion and handover recorded in the same quarter of the previous year, lower gross profit accompanying the decline in revenue, higher selling, general and administrative expenses, primarily personnel expenses, and higher interest expense following policy rate hikes. In housing distribution, stronger demand for existing homes and strategic inventory accumulation contributed to results, while the increase in managed units contributed to the rental and property management business.

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Earnings Presentation Materials for the First Quarter of the Fiscal Year Ending March 2027 | FUJI CORPORATION LIMITED (8860) timely disclosure | Komori