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Presentation materials for financial results8860FUJI CORPORATION LIMITEDReal Estate

Earnings Presentation for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2027

In the first half, revenue and profit at every level fell below the prior-year period, due to the rebound from the delivery of large-scale condominium developments being pushed into the second half, as well as higher costs, SG&A expenses and interest expenses. Meanwhile, the order backlog reached ¥73.3 billion, its highest level ever, building up sales to be recognized in the second half.

Worth reading
83Important
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
1.7
Year-on-year decrease in net sales (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsSecond quarter (interim period) of the fiscal year ending March 202713 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥70,471 million-1.7%
Operating profit¥3,723 million-23.8%
Ordinary income¥2,886 million-34.6%
Net income¥1,868 million-37.1%
Gross Profit Margin14.7%
Operating profit margin5.3%
Selling, general and administrative expenses¥6,630 million
Results for the three months of the current quarter
Second quarter of the fiscal year ending March 2027 (July–September 2026)
Net Sales
¥35,192 million
Operating profit
¥1,688 million
Ordinary income
¥1,170 million
Net income
¥751 million
Full-year earnings forecast
Net Sales
¥145,000 million
Operating profit
¥9,100 million
Ordinary income
¥7,000 million
Net income
¥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 Sales48.6%
Operating profit40.9%
Ordinary income41.2%
Net income40.6%
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.
  • Rebound from the timing of deliveries of large-scale condominium developments
    ImpactDecreased
  • Higher costs associated with inflation and other factors
    ImpactDecreased
  • Strong sales of existing homes, particularly existing condominiums
    ImpactIncreased
  • Higher SG&A expenses, including sales commissions and personnel costs
    ImpactDecreased
  • Higher interest expenses due to policy rate hikes
    ImpactDecreased
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Portion of the order backlog scheduled to be recognized as revenue in the current fiscal year¥425 100 million
  • Portion of rental and property management revenue scheduled from October onward¥186 100 million
  • Portion of orders contracted from October onward scheduled to be recognized as revenue in the current fiscal year¥135 100 million
New initiatives
  • Continue the progressive dividend policy
  • Increase investment in the capital-efficient Effective Land Utilization and Rental and Property Management businesses
  • Acquisition of Treasury Shares
  • Stepped-up IR activities
Key KPIsA metric the company considers important as a management benchmark.
  • Order contract backlog¥73,332 million
    Year on year against the same period last year+21.4%
  • Equity ratio29.5 %
    Year on year against the same period last yearDown 1.2 percentage points year on year
  • Net debt-to-equity ratio1.71 times
    Year on year against the same period last yearUp 0.15 percentage points
  • Number of existing homes sold649 units
    Year on year against the same period last year+7.8%
  • Units under management41,642 units
    Year on year against the same period last year+2,427.0%
  • Number of senior housing properties with services operated292 buildings
    Year on year against the same period last year+16.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Number of existing detached homes sold75 units
    Year on year against the same period last year+38.9%
  • Revenue from existing detached homes¥1,963 million
    Year on year against the same period last year+58.8%
  • Number of existing condominiums sold574 units
    Year on year against the same period last year+4.7%
  • Revenue from existing condominiums¥18,179 million
    Year on year against the same period last year+25.6%
Segment results
  • For-sale housing
    Net Sales13,733
    Profit104
    Revenue YoY (%)-38.8
    Profit yoy_pct-91.9
  • Residential Property Distribution
    Net Sales20,144
    Profit822
    Revenue YoY (%)28.2
    Profit yoy_pct50.3
  • Land utilization
    Net Sales17,915
    Profit1,444
    Revenue YoY (%)11
    Profit yoy_pct-13.5
  • Leasing and Property Management
    Net Sales17,933
    Profit2,234
    Revenue YoY (%)7.9
    Profit yoy_pct3.6
  • Construction-Related
    Net Sales630
    Profit-1
    Revenue YoY (%)-9.8
  • Other
    Net Sales114
    Profit77
    Revenue YoY (%)5.2
Financial targets
Full-year ROE forecast6 %
Equity ratio29.5 %
Equity ratio unit%
Net debt-to-equity ratio1.71 %
Net D/E Ratio Unittimes
Market Size / Share
Ranking by Annual Number of Homes Sold Through Purchase and ResaleRanked 6th nationwide in 2026
Ranking by Number of Serviced Housing Buildings Operated1st place
Orders received and order backlog
Order contract backlog¥73,332 million
Annual Dividend
Annual¥32 /share
Interim¥16 /share
End of period¥16 /share
Payout ratio
24.9 %
Acquisition of treasury shares
Number of SharesUp to 400,000 shares
Period18 May 2026–16 June 2026
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredSecond quarter (interim period) of the fiscal year ending March 2027
Net Sales¥70,471 million (YoY -1.7%)
Operating profit¥3,723 million (YoY -23.8%)
Ordinary income¥2,886 million (YoY -34.6%)
Net income¥1,868 million (YoY -37.1%)
Gross Profit Margin14.7%
Operating profit margin5.3%
Selling, general and administrative expenses¥6,630 million
Results for the three months of the current quarterSubject Second quarter of the fiscal year ending March 2027 (July–September 2026) / Net Sales ¥35,192 million / Operating profit ¥1,688 million / Ordinary income ¥1,170 million / Net income ¥751 million
Full-year earnings forecastNet Sales ¥145,000 million / Operating profit ¥9,100 million / Ordinary income ¥7,000 million / Net income ¥4,600 million
Progress against full-year forecastNet Sales 48.6% / Operating profit 40.9% / Ordinary income 41.2% / Net income 40.6%
Self-assessment against the planGenerally in line with plan
Segment resultsSegment For-sale housing / Net Sales ¥13,733 million / Profit ¥104 million / Revenue YoY (%) ¥-38.8 million / Profit yoy_pct ¥-91.9 million, Segment Residential Property Distribution / Net Sales ¥20,144 million / Profit ¥822 million / Revenue YoY (%) ¥28.2 million / Profit yoy_pct ¥50.3 million, Segment Land utilization / Net Sales ¥17,915 million / Profit ¥1,444 million / Revenue YoY (%) ¥11 million / Profit yoy_pct ¥-13.5 million, Segment Leasing and Property Management / Net Sales ¥17,933 million / Profit ¥2,234 million / Revenue YoY (%) ¥7.9 million / Profit yoy_pct ¥3.6 million, Segment Construction-Related / Net Sales ¥630 million / Profit ¥-1 million / Revenue YoY (%) ¥-9.8 million, Segment Other / Net Sales ¥114 million / Profit ¥77 million / Revenue YoY (%) ¥5.2 million
Breakdown of Factors Affecting the ChangeFactors Rebound from the timing of deliveries of large-scale condominium developments / Impact Decreased, Factors Higher costs associated with inflation and other factors / Impact Decreased, Factors Strong sales of existing homes, particularly existing condominiums / Impact Increased, Factors Higher SG&A expenses, including sales commissions and personnel costs / Impact Decreased, Factors Higher interest expenses due to policy rate hikes / Impact Decreased
Key KPIsIndicator name Order contract backlog / Value ¥73,332 million / Year on year against the same period last year ¥21.4 million, Indicator name Equity ratio / Value 29.5 % / Year on year against the same period last year Down 1.2 percentage points year on year, Indicator name Net debt-to-equity ratio / Value 1.71 times / Year on year against the same period last year Up 0.15 percentage points, Indicator name Number of existing homes sold / Value 649 units / Year on year against the same period last year 7.8 units, Indicator name Units under management / Value 41,642 units / Year on year against the same period last year 2,427 units, Indicator name Number of senior housing properties with services operated / Value 292 buildings / Year on year against the same period last year 16 buildings
Unit price and quantity metricsIndicator name Number of existing detached homes sold / Value 75 units / Year on year against the same period last year 38.9 units, Indicator name Revenue from existing detached homes / Value ¥1,963 million / Year on year against the same period last year ¥58.8 million, Indicator name Number of existing condominiums sold / Value 574 units / Year on year against the same period last year 4.7 units, Indicator name Revenue from existing condominiums / Value ¥18,179 million / Year on year against the same period last year ¥25.6 million
Assumptions Underlying the Business OutlookItem Portion of the order backlog scheduled to be recognized as revenue in the current fiscal year / Value ¥425 100 million, Item Portion of rental and property management revenue scheduled from October onward / Value ¥186 100 million, Item Portion of orders contracted from October onward scheduled to be recognized as revenue in the current fiscal year / Value ¥135 100 million
Financial targetsFull-year ROE forecast 6 % / Equity ratio 29.5 % / Equity ratio unit % / Net debt-to-equity ratio 1.71 % / Net D/E Ratio Unit times
Annual DividendAnnual ¥32 /share / Interim ¥16 /share / End of period ¥16 /share
Payout ratio24.9 %
Acquisition of treasury sharesNumber of Shares Up to 400,000 shares / Period 18 May 2026–16 June 2026
Orders received and order backlogOrder contract backlog ¥73,332 million
Market Size / ShareRanking by Annual Number of Homes Sold Through Purchase and Resale Ranked 6th nationwide in 2026 / Ranking by Number of Serviced Housing Buildings Operated 1st place
New initiativesContinue the progressive dividend policy, Increase investment in the capital-efficient Effective Land Utilization and Rental and Property Management businesses, Acquisition of Treasury Shares, Stepped-up IR activities
Items this document does not state (6)
Number of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsCapital 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.

Condominium development revenue declined due to the rebound from the completion and delivery of large-scale condominium developments in the prior-year period. In addition, higher costs associated with inflation and other factors, increased SG&A expenses including sales commissions and personnel costs, and higher interest expenses following policy rate hikes weighed on profit. Strong sales of existing homes, particularly existing condominiums, limited the decline in revenue.

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