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Financial results presentation8887SYLA Holdings Co.,Ltd.Real Estate

Earnings Presentation for the First Quarter of the Fiscal Year Ending May 2027

In the first quarter of the fiscal year ending May 2027, net sales and operating income exceeded the year-earlier period, also benefiting from growth in the real estate management business. Ordinary income declined, however, due to increases in interest expenses and other costs.

Worth reading
68In focus
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
840
¥ millions (operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFirst quarter of the fiscal year ending May 202713 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥9,302 million+8.4%
Operating profit¥840 million+19.1%
Ordinary income¥436 million-3.6%
Net income¥255 millions +480.4%adjusted quarterly net income attributable to owners of the parent
Gross Profit Margin21.7 %
Operating profit margin9 %
Results for the three months of the current quarter
Net Sales
¥9,302 million
Operating profit
¥840 million
Ordinary income
¥436 million
Adjusted quarterly net income
¥255 million
Full-year earnings forecast
Net Sales
38,000～40,000
Operating profit
3,700～3,900
Ordinary income
2,375～2,500
Adjusted net income attributable to owners of parent for the period
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 revenue23.3–24.5% (against the lower and upper ends, respectively)
Consolidated operating profit21.6–22.7% (against the lower and upper ends, respectively)
Consolidated ordinary income17.5–18.4% (against the lower and upper ends, respectively)
Adjusted net income attributable to owners of parent16.5–17.4% (against the lower and upper ends, respectively)
Revenue from the Comprehensive Real Estate business23.5% (against the upper end)
Revenue from the property management business28.6% (against the upper end)
Construction business revenue12.5% (against the upper end)
Renewable energy business revenue13.9% (against the upper end)
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing as planned
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit
Prior-year period
¥705 million
Comprehensive real estate business
¥177 million
Property Management Business
¥99 million
Construction
¥-51 million
Renewable energy and other
¥8 million
Head office expenses, etc.
¥-98 million
Current fiscal year
¥840 million
Ordinary income
Operating profit and other metrics
¥134 million
Increase in non-operating income
¥0 million
Increase in interest expense
¥-99 million
Increase in commissions paid
¥-44 million
Increase in other non-operating expenses
¥-7 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Construction cost inflation rateApproximately 12–15%, with a short-term maximum of approximately 20%
  • Rent increase rate in central Tokyo10% or higher
  • Potential upside to the terminal ratePotentially 1% above the assumption
New initiatives
  • Transition to a progressive dividend policy
  • Launch of digital gift benefits for long-term shareholders
  • Additional acquisition of a grid-scale battery storage facility in Oyama, Tochigi Prefecture
  • Plan to expand the supply chain overseas
  • Growth investment in battery storage facilities and the hotel business
  • Making タック・エイティエイト社 a wholly owned subsidiary
Key KPIsA metric the company considers important as a management benchmark.
  • Newly built units supplied148 units
    Year on year against the same period last year+261.0%
  • Cumulative stable earnings¥552 million
    Year on year against the same period last year+261.0%
  • Buildings under management118 buildings
    Year on year against the same period last year+4.4%
  • Number of rental units under management4,165 units
    Year on year against the same period last year+1.1%
  • Rent increase rate7.71 %
    Year on year against the same period last year+0.01% quarter on quarter
  • Number of project acquisitions2 Engagements
    Year on year against the same period last year+100.0%
  • Building occupancy rate99.5／99.7
Segment results
Comprehensive real estate business
Net Sales
¥8,174 million+9.5%
Profit
¥1,407 million+14.4%
Property Management Business
Net Sales
¥786 million+17.9%
Profit
¥334 million+42.6%
Construction
Net Sales
¥91 million+100.6%
Profit
¥-115 million
Renewable energy business
Net Sales
¥233 million-32.1%
Profit
¥-18 million
Medium-term management plan targets
ROE
Target fiscal yearThrough the fiscal year ending May 2030
Target value15%
DOE
Target fiscal yearFiscal year ending May 2030
Target value4%
Total assets
Target value¥100 billion
Financial targets
ROE7.9–8.3% (as of 31 August 2026; +2.1–2.5 percentage points year on year)
ROA2.0–2.1% (+0.5–0.6 percentage points year on year)
Net debt-to-equity ratio2.0x
DOE2.9% (+0.2 percentage points year on year)
ROE target15% by the fiscal year ending May 2030
Market Size / Share
New supply of investment condominiums in the Tokyo metropolitan area2,401 units in the first half of 2026, up 28.8% year on year
Rimawari-kun real estate crowdfunding platformNo. 1 in membership in market research for the designated segment (利回りくん investment-yield service)
Orders received and order backlog
Construction work for other companies
Number of projects secured¥3 million
Total contract value¥3,813 million
Number of employees
Number of Employees42 standalone / 220 consolidated group
Record date31 August 2026
Annual Dividend
Annual Dividend¥14 (ordinary dividend)
Interim Dividend¥7 (ordinary dividend)
Year-end dividend¥7 (ordinary dividend)
Acquisition of treasury shares
Buyback limit¥100 million / 300,000 shares
Actual results¥99.9 million / 264,500 shares
Acquisition period16 July 2026–20 August 2026 (actual)
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending May 2027
Net Sales¥9,302 million (YoY +8.4%)
Operating profit¥840 million (YoY +19.1%)
Ordinary income¥436 million (YoY -3.6%)
Net income¥255 millions (adjusted quarterly net income attributable to owners of the parent) (YoY +480.4%)
Gross Profit Margin21.7 %
Operating profit margin9 %
Results for the three months of the current quarterNet Sales ¥9,302 million / Operating profit ¥840 million / Ordinary income ¥436 million / Adjusted quarterly net income ¥255 million
Full-year earnings forecastNet Sales 38,000～40,000 / Operating profit 3,700～3,900 / Ordinary income 2,375～2,500 / Adjusted net income attributable to owners of parent for the period 1,472～1,550
Progress against full-year forecastConsolidated revenue 23.3–24.5% (against the lower and upper ends, respectively) / Consolidated operating profit 21.6–22.7% (against the lower and upper ends, respectively) / Consolidated ordinary income 17.5–18.4% (against the lower and upper ends, respectively) / Adjusted net income attributable to owners of parent 16.5–17.4% (against the lower and upper ends, respectively) / Revenue from the Comprehensive Real Estate business 23.5% (against the upper end) / Revenue from the property management business 28.6% (against the upper end) / Construction business revenue 12.5% (against the upper end) / Renewable energy business revenue 13.9% (against the upper end)
Self-assessment against the planProgressing as planned
Segment resultsComprehensive real estate business Net Sales ¥8,174 million (YoY +9.5%) / Profit ¥1,407 million (YoY +14.4%) / Property Management Business Net Sales ¥786 million (YoY +17.9%) / Profit ¥334 million (YoY +42.6%) / Construction Net Sales ¥91 million (YoY +100.6%) / Profit ¥-115 million / Renewable energy business Net Sales ¥233 million (YoY -32.1%) / Profit ¥-18 million
Breakdown of Factors Affecting the ChangeOperating profit Prior-year period ¥705 million / Comprehensive real estate business ¥177 million / Property Management Business ¥99 million / Construction ¥-51 million / Renewable energy and other ¥8 million / Head office expenses, etc. ¥-98 million / Current fiscal year ¥840 million / Ordinary income Operating profit and other metrics ¥134 million / Increase in non-operating income ¥0 million / Increase in interest expense ¥-99 million / Increase in commissions paid ¥-44 million / Increase in other non-operating expenses ¥-7 million
Key KPIsIndicator name Newly built units supplied / Value 148 units / Year on year against the same period last year 261 units, Indicator name Cumulative stable earnings / Value ¥552 million / Year on year against the same period last year ¥261 million, Indicator name Buildings under management / Value 118 buildings / Year on year against the same period last year 4.4 buildings, Indicator name Number of rental units under management / Value 4,165 units / Year on year against the same period last year 1.1 units, Indicator name Rent increase rate / Value 7.71 % / Year on year against the same period last year +0.01% quarter on quarter, Indicator name Number of project acquisitions / Value 2 Engagements / Year on year against the same period last year 100 Engagements, Indicator name Building occupancy rate / Value 99.5／99.7 / Year on year against the same period last year Not disclosed
Number of employeesNumber of Employees 42 standalone / 220 consolidated group / Record date 31 August 2026
Assumptions Underlying the Business OutlookItem Construction cost inflation rate / Value Approximately 12–15%, with a short-term maximum of approximately 20%, Item Rent increase rate in central Tokyo / Value 10% or higher, Item Potential upside to the terminal rate / Value Potentially 1% above the assumption
Medium-term management plan targetsROE Target fiscal year Through the fiscal year ending May 2030 / Target value 15% / DOE Target fiscal year Fiscal year ending May 2030 / Target value 4% / Total assets Target value ¥100 billion
Financial targetsROE 7.9–8.3% (as of 31 August 2026; +2.1–2.5 percentage points year on year) / ROA 2.0–2.1% (+0.5–0.6 percentage points year on year) / Net debt-to-equity ratio 2.0x / DOE 2.9% (+0.2 percentage points year on year) / ROE target 15% by the fiscal year ending May 2030
Annual DividendAnnual Dividend ¥14 (ordinary dividend) / Interim Dividend ¥7 (ordinary dividend) / Year-end dividend ¥7 (ordinary dividend)
Acquisition of treasury sharesBuyback limit ¥100 million / 300,000 shares / Actual results ¥99.9 million / 264,500 shares / Acquisition period 16 July 2026–20 August 2026 (actual)
Orders received and order backlogConstruction work for other companies Number of projects secured ¥3 million / Total contract value ¥3,813 million
Market Size / ShareNew supply of investment condominiums in the Tokyo metropolitan area 2,401 units in the first half of 2026, up 28.8% year on year / Rimawari-kun real estate crowdfunding platform No. 1 in membership in market research for the designated segment (利回りくん investment-yield service)
New initiativesTransition to a progressive dividend policy, Launch of digital gift benefits for long-term shareholders, Additional acquisition of a grid-scale battery storage facility in Oyama, Tochigi Prefecture, Plan to expand the supply chain overseas, Growth investment in battery storage facilities and the hotel business, Making タック・エイティエイト社 a wholly owned subsidiary
Items this document does not state (7)
Selling, general and administrative expensesUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookPayout ratioCapital 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 comprehensive real estate business and real estate management business drove performance. In the real estate management business, profit increased due to growth in the number of properties under management, rent increase negotiations and the absence of one-off fees that had been recognized in the prior period, while ordinary income declined due to increases in interest expenses and other costs.

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Earnings Presentation for the First Quarter of the Fiscal Year Ending May 2027 | SYLA Holdings Co.,Ltd. (8887) timely disclosure | Komori