Worth reading
84Important
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
39331
¥ millionWording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFull fiscal year ended May 202614 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥39,331 million+625.8%
Operating profit¥3,186 million+1,485.9%
Ordinary income¥2,067 million+831.5%
Net income¥6,684 million
Operating profit margin8.1 %
Full-year earnings forecast
Net Sales
Value
- 38,000
- 40,000
Operating profit
Value
- 3,700
- 3,900
Ordinary income
Value
- 2,375
- 2,500
Profit attributable to owners of the parent
Value
- 1,472
- 1,550
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。
Consolidated revenue100.9
Consolidated operating profit104.5
Consolidated ordinary income103.4
Consolidated net income102.6
Revenue from the Comprehensive Real Estate business113.4
Revenue from the property management business105.3
Construction business revenue236.9
Renewable energy business revenue122.3
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue and profit at each stage exceeded the revised earnings forecasts at year-endBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit
Operating profit in the previous fiscal year200
Comprehensive real estate business5,593
Property Management Business894
Construction-603
Renewable Energy and Other businesses39
Corporate expenses and other businesses-2,738
Ordinary income
Ordinary profit in the previous fiscal year222
Increase in non-operating income2,985
Increase in interest expense-900
Increase in commissions paid-295
Increase in other non-operating expenses-28
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Construction cost inflation rateApproximately 12–15% (up to approximately 20% in the short term)
Expected rent increasesApproximately 5% or more
Assumed rate increaseApproximately 50 basis points
Impact of higher borrowing ratesApproximately ¥400 million on ¥40 billion of borrowings
Interest rate stress testA 1% rate increase
New initiatives
- Adopt a progressive dividend policy from the fiscal year ending May 2027
- Consolidate shareholder benefits into YIELD-KUN coins
- Change grid-scale battery storage facilities from a sale-focused model to an ownership-focused model
- Commence a business alliance with APAMAN
- Begin test operations for the first grid-scale battery storage facility project
Key KPIsA metric the company considers important as a management benchmark.
- Newly built units supplied377 units
- Cumulative stable earnings¥1,889 million
- Buildings under management113 buildings
- Number of rental units under management4,121 units
- ROE37.2 %
- ROIC3.7 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of rental units under management4,121 units, %
Rent increase rate at contract renewal7.7 units, %
Segment results
Comprehensive real estate business
Net Sales¥34,374 million
Profit¥5,593 million
Property Management Business
Net Sales¥2,843 million
Profit¥894 million
Construction
Net Sales¥236 million
Profit¥-603 million
Renewable energy business
Net Sales¥1,712 million
Profit¥39 million
Other Businesses
Net Sales¥182 million
Profit¥8 million
Medium-term management plan targets
Target fiscal yearFiscal year ending May 2030
TargetEstablish a position as an integrated real estate technology company
Financial targets
ROE37.2 %, times
ROIC3.7 %, times
ROA9.5 %, times
Net debt-to-equity ratio1.8 %, times
DOE2.7 %, times
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Higher interest ratesApproximately ¥400 million on ¥40 billion of borrowings
Market Size / Share
Number of investment condominiums supplied in the Tokyo metropolitan area7,816 units in 2018; 1,864 units in the first half of 2025
YIELD-KUN members280,000 members of the YIELD-KUN investment platform
Number of employees
Standalone45 people
Consolidated235 people
As ofAs of 31 May 2026
Annual Dividend
Fiscal year ending May 2026
Annual¥13 per share
Interim¥6 per share
End of period¥7 per share
Fiscal year ending May 2027
Annual¥14 per share
Interim¥7 per share
End of period¥7 per share
Acquisition of treasury shares
The specific acquisition limit, number of shares and period for the share repurchase announced on 15 July 2026 are not disclosed| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Full fiscal year ended May 2026 |
| Net Sales | ¥39,331 million (YoY +625.8%) |
| Operating profit | ¥3,186 million (YoY +1,485.9%) |
| Ordinary income | ¥2,067 million (YoY +831.5%) |
| Net income | ¥6,684 million |
| Operating profit margin | 8.1 % |
| Full-year earnings forecast | Net Sales value 38,000, 40,000 / Operating profit value 3,700, 3,900 / Ordinary income value 2,375, 2,500 / Profit attributable to owners of the parent value 1,472, 1,550 |
| Progress against full-year forecast | Consolidated revenue 100.9 / Consolidated operating profit 104.5 / Consolidated ordinary income 103.4 / Consolidated net income 102.6 / Revenue from the Comprehensive Real Estate business 113.4 / Revenue from the property management business 105.3 / Construction business revenue 236.9 / Renewable energy business revenue 122.3 |
| Self-assessment against the plan | Revenue and profit at each stage exceeded the revised earnings forecasts at year-end |
| Segment results | Comprehensive real estate business Net Sales ¥34,374 million / Profit ¥5,593 million / Property Management Business Net Sales ¥2,843 million / Profit ¥894 million / Construction Net Sales ¥236 million / Profit ¥-603 million / Renewable energy business Net Sales ¥1,712 million / Profit ¥39 million / Other Businesses Net Sales ¥182 million / Profit ¥8 million |
| Breakdown of Factors Affecting the Change | Operating profit Operating profit in the previous fiscal year 200 / Comprehensive real estate business 5,593 / Property Management Business 894 / Construction -603 / Renewable Energy and Other businesses 39 / Corporate expenses and other businesses -2,738 / Ordinary income Ordinary profit in the previous fiscal year 222 / Increase in non-operating income 2,985 / Increase in interest expense -900 / Increase in commissions paid -295 / Increase in other non-operating expenses -28 |
| Key KPIs | Newly built units supplied 377 units, Cumulative stable earnings ¥1,889 million, Buildings under management 113 buildings, Number of rental units under management 4,121 units, ROE 37.2 %, ROIC 3.7 % |
| Unit price and quantity metrics | Number of rental units under management 4,121 units, % / Rent increase rate at contract renewal 7.7 units, % |
| Number of employees | Standalone 45 people / Consolidated 235 people / As of As of 31 May 2026 |
| Assumptions Underlying the Business Outlook | Construction cost inflation rate Approximately 12–15% (up to approximately 20% in the short term) / Expected rent increases Approximately 5% or more / Assumed rate increase Approximately 50 basis points / Impact of higher borrowing rates Approximately ¥400 million on ¥40 billion of borrowings / Interest rate stress test A 1% rate increase |
| Risk amount incorporated into the outlook | Higher interest rates Approximately ¥400 million on ¥40 billion of borrowings |
| Medium-term management plan targets | Target fiscal year Fiscal year ending May 2030 / Target Establish a position as an integrated real estate technology company |
| Financial targets | ROE 37.2 %, times / ROIC 3.7 %, times / ROA 9.5 %, times / Net debt-to-equity ratio 1.8 %, times / DOE 2.7 %, times |
| Annual Dividend | Fiscal year ending May 2026 Annual ¥13 per share / Interim ¥6 per share / End of period ¥7 per share / Fiscal year ending May 2027 Annual ¥14 per share / Interim ¥7 per share / End of period ¥7 per share |
| Acquisition of treasury shares | The specific acquisition limit, number of shares and period for the share repurchase announced on 15 July 2026 are not disclosed |
| Market Size / Share | Number of investment condominiums supplied in the Tokyo metropolitan area 7,816 units in 2018; 1,864 units in the first half of 2025 / YIELD-KUN members 280,000 members of the YIELD-KUN investment platform |
| New initiatives | Adopt a progressive dividend policy from the fiscal year ending May 2027, Consolidate shareholder benefits into YIELD-KUN coins, Change grid-scale battery storage facilities from a sale-focused model to an ownership-focused model, Commence a business alliance with APAMAN, Begin test operations for the first grid-scale battery storage facility project |
Items this document does not state (8)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterNumber of stores and locationsPayout ratioCapital 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.In the Comprehensive Real Estate business, condominium sales of newly built properties and land sales contributed to results. In the Real Estate Management business, growth in the number of properties under building and rental management, as well as rent increases at contract renewals, contributed to results. Operating profit benefited from the Comprehensive Real Estate and Real Estate Management businesses. Ordinary profit increased despite higher interest expenses associated with increased project acquisitions and expanded borrowings from financial institutions.
How to read this page
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