Worth reading
56In focus
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
2500
¥ million (year-on-year increase in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 2026, full year10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥90,108 million+12.8%
Operating profit¥7,751 million+47.9%
Ordinary income¥5,891 million+56.3%
Net income¥3,826 million+32.1%
Gross Profit Margin21.3%
Operating profit margin8.6%
Selling, general and administrative expenses¥11,427 million
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
¥85,000 million
Gross profit
¥19,500 million
Selling, general and administrative expenses
¥12,500 million
Operating profit
¥7,000 million
Ordinary income
¥4,400 million
Net income
¥2,900 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。
Fiscal year ended March 2026 vs. revised forecast
Net Sales100.1%
Gross profit100.9%
Selling, general and administrative expenses101.1%
Operating profit100.7%
Ordinary income101.6%
Net income100.7%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Finished slightly above the full-year forecast after the upward revisionBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Condominium Development+¥2,680 million
Distribution+¥6,922 million
Management+¥625 million
Rentals-¥20 million
Other-¥1 million
Operating profit by segment
Condominium Development+¥1,803 million
Distribution+¥698 million
Management+¥129 million
Rentals+¥0 million
Other-¥13 million
Adjustments-¥106 million
Operating profit by line item
Increase in gross profit+¥2,609 million
Increase in selling, general and administrative expenses-¥98 million
New initiatives
- Land acquisition using real estate M&A
- Participation in condominium rebuilding projects
- Participation in condominium site sale projects
- Opening a condominium revitalization advisory office
- Transforming the business portfolio around Condominium Sales, Brokerage and Property Management
Key KPIsA metric the company considers important as a management benchmark.
- ROIC4.49 %Year on year against the same period last yearUp from 3.38% in the fiscal year ended March 2025
- WACC2.44 %Year on year against the same period last yearDown from 2.49% in the fiscal year ended March 2025
- Percentage of sales priced at ¥100 million or more in newly built condominiums in the Tokyo metropolitan area60.3%Year on year against the same period last yearUp from 24.7% in the fiscal year ended March 2025
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of condominium handovers825 units (816 units in the previous fiscal year)
Average condominium priceIncreased (specific figure: Not disclosed)
Segment results
Condominium Development
Net Sales
¥55,196 million
Operating profit
¥5,582 million
Year-on-year operating profit growth+47.7%
Distribution
Net Sales
¥27,464 million
Operating profit
¥2,146 million
Year-on-year operating profit growth+48.2%
Management
Net Sales
¥6,656 million
Operating profit
¥644 million
Year-on-year operating profit growth+25.0%
Rentals
Net Sales
¥661 million
Operating profit
¥230 million
Year-on-year operating profit growth+0.2%
Other
Net Sales
¥130 million
Operating profit
¥67 million
Year-on-year operating profit growth-16.7%
Medium-term management plan targets
Fiscal year ending March 2026
Net Sales¥80.0 billion
Operating profit¥5.1 billion
Ordinary income¥3.8 billion
Net income¥2.6 billion
Fiscal year ending March 2027
Net Sales¥88 billion
Operating profit¥5.5 billion
Ordinary income¥4.1 billion
Net income¥2.9 billion
Financial targets
ROIC
Actual results4.49%
Equity ratioImproved (specific figure: Not disclosed)
Annual Dividend
Fiscal year ending March 2026¥45 per share (including a commemorative dividend of ¥5)
Forecast for the fiscal year ending March 2027¥40 per share
Payout ratio
Targeting 30% during the period of the Medium-Term Management Plan 2027| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥90,108 million (YoY +12.8%) |
| Operating profit | ¥7,751 million (YoY +47.9%) |
| Ordinary income | ¥5,891 million (YoY +56.3%) |
| Net income | ¥3,826 million (YoY +32.1%) |
| Gross Profit Margin | 21.3% |
| Operating profit margin | 8.6% |
| Selling, general and administrative expenses | ¥11,427 million |
| Full-year earnings forecast | Fiscal year ending March 2027 Net Sales ¥85,000 million / Gross profit ¥19,500 million / Selling, general and administrative expenses ¥12,500 million / Operating profit ¥7,000 million / Ordinary income ¥4,400 million / Net income ¥2,900 million |
| Progress against full-year forecast | Fiscal year ended March 2026 vs. revised forecast Net Sales 100.1% / Gross profit 100.9% / Selling, general and administrative expenses 101.1% / Operating profit 100.7% / Ordinary income 101.6% / Net income 100.7% |
| Self-assessment against the plan | Finished slightly above the full-year forecast after the upward revision |
| Segment results | Condominium Development Net Sales ¥55,196 million / Operating profit ¥5,582 million / Year-on-year operating profit growth +47.7% / Distribution Net Sales ¥27,464 million / Operating profit ¥2,146 million / Year-on-year operating profit growth +48.2% / Management Net Sales ¥6,656 million / Operating profit ¥644 million / Year-on-year operating profit growth +25.0% / Rentals Net Sales ¥661 million / Operating profit ¥230 million / Year-on-year operating profit growth +0.2% / Other Net Sales ¥130 million / Operating profit ¥67 million / Year-on-year operating profit growth -16.7% |
| Breakdown of Factors Affecting the Change | Net Sales Condominium Development +¥2,680 million / Distribution +¥6,922 million / Management +¥625 million / Rentals -¥20 million / Other -¥1 million / Operating profit by segment Condominium Development +¥1,803 million / Distribution +¥698 million / Management +¥129 million / Rentals +¥0 million / Other -¥13 million / Adjustments -¥106 million / Operating profit by line item Increase in gross profit +¥2,609 million / Increase in selling, general and administrative expenses -¥98 million |
| Key KPIs | Indicator name ROIC / Value 4.49 % / Year on year against the same period last year Up from 3.38% in the fiscal year ended March 2025, Indicator name WACC / Value 2.44 % / Year on year against the same period last year Down from 2.49% in the fiscal year ended March 2025, Indicator name Percentage of sales priced at ¥100 million or more in newly built condominiums in the Tokyo metropolitan area / Value 60.3% / Year on year against the same period last year Up from 24.7% in the fiscal year ended March 2025 |
| Unit price and quantity metrics | Number of condominium handovers 825 units (816 units in the previous fiscal year) / Average condominium price Increased (specific figure: Not disclosed) |
| Medium-term management plan targets | Fiscal year ending March 2026 Net Sales ¥80.0 billion / Operating profit ¥5.1 billion / Ordinary income ¥3.8 billion / Net income ¥2.6 billion / Fiscal year ending March 2027 Net Sales ¥88 billion / Operating profit ¥5.5 billion / Ordinary income ¥4.1 billion / Net income ¥2.9 billion |
| Financial targets | ROIC Actual results 4.49% / Equity ratio Improved (specific figure: Not disclosed) |
| Annual Dividend | Fiscal year ending March 2026 ¥45 per share (including a commemorative dividend of ¥5) / Forecast for the fiscal year ending March 2027 ¥40 per share |
| Payout ratio | Targeting 30% during the period of the Medium-Term Management Plan 2027 |
| New initiatives | Land acquisition using real estate M&A, Participation in condominium rebuilding projects, Participation in condominium site sale projects, Opening a condominium revitalization advisory office, Transforming the business portfolio around Condominium Sales, Brokerage and Property Management |
Items this document does not state (10)
Results for the three months of the current quarterNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket 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.For the fiscal year ended March 2026, the increase in revenue and profit was attributed to a slight increase in condominium units delivered and higher average prices, strong performance in property purchases for resale and sales brokerage, the delivery of 10 properties through Wealth Solutions, and higher gross profit across the major segments. For the fiscal year ending March 2027, the company expects lower profit due to a decrease in condominium units delivered and an upfront increase in advertising expenses associated with higher new supply.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.