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Presentation materials for financial results8897MIRARTH HOLDINGS,Inc.Real estate

Earnings Presentation Materials for the Fiscal Year Ending March 2026

In the fiscal year ended March 2026, revenue, operating profit and ordinary profit reached record highs, driven by growth in the real estate business and other operations, while net income declined substantially due to impairment losses associated with the structural reform of the energy business. The company also presented plans for lower revenue and lower profit in the fiscal year ending March 2027, the introduction of DOE, share repurchases, and a review of its business portfolio.

Worth reading
57In 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
214369
¥ million
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFiscal year ending March 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥214,369 million+9.1%
Operating profit¥17,649 million+22.9%
Ordinary income¥14,182 million+14.1%
Net income¥4,758 million-42.0%
Selling, general and administrative expenses¥28,009 million
Full-year earnings forecast
Fiscal Period CoveredFiscal year ending March 2027
Net Sales
¥228,700 million
Gross profit
¥45,000 million
Operating profit
¥15,000 million
Ordinary income
¥12,100 million
Profit attributable to owners of parent
¥8,000 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year change in operating income
Real Estate Business2,421
Energy Business509
Asset Management Business-25
Other Businesses378
Year-on-year change in selling, general and administrative expenses
Public relations expenses-455
Advertising and promotional expenses, etc. (property sales)-642
Sales commissions (securitization, etc.)360
Personnel Expenses315
Other483
New initiatives
  • Introduction of a 3.5% DOE
  • Repurchase and cancellation of approximately ¥1 billion of shares
  • Separate the cashew business from the energy business and position it under other businesses and next-generation businesses
  • Review of the business portfolio and stricter ROIC management
  • Selective investment in high-growth areas, including batteries for business use
  • Introduction of a new accounting system
  • Introduction of a Risk Appetite Framework
  • Establishment of a new internal control management department and appointment of a CRO
Key KPIsA metric the company considers important as a management benchmark.
  • Units sold (new condominium developments)2,767 units
    Year on year against the same period last yearUp 428 units
  • Units sold (new detached-home developments)239 units
    Year on year against the same period last yearUp 22 units
  • Units sold (renewal and resale)292 units
    Year on year against the same period last yearUp 50 units
  • Units under management95,357 units
    Year on year against the same period last yearUp 2,222 units
  • Cumulative operating power generation capacity393 MW
    Year on year against the same period last yearUp 8 MW
  • Metropolitan-area revenue ratio45.9 %
Segment results
Real Estate Business
Net Sales
¥192,446 million+7.8%
Gross profit
¥40,766 million+6.0%
Operating profit
¥15,552 million+18.4%
Energy Business
Net Sales
¥11,465 million+15.6%
Gross profit
¥3,036 million+19.0%
Operating profit
¥1,619 million+45.8%
Asset Management Business
Net Sales
¥1,226 million+5.5%
Gross profit
¥937 million+0.4%
Operating profit
¥242 million-9.5%
Other Businesses
Net Sales
¥9,231 million+33.3%
Gross profit
¥918 million+145.7%
Operating profit
¥233 million
Medium-term management plan targets
Equity ratioAt least 23%
LTVBelow 65%
Debt-to-equity ratioBelow 3.0x
ROE9% or more
Shareholder returns and dividend payout ratio35～40%
2030 operating profit share within the real estate businessNew detached-home developments 15%, renewal and resale 15%
Financial targets
Equity ratio
Actual results22.3%
TargetAt least 23%
LTV
Actual results60.9%
TargetBelow 65%
Debt-to-equity ratio
Actual results2.5x
TargetBelow 3.0x
ROE
Actual results11.0%
Target9% or more
Annual Dividend
Fiscal year ending March 2027
Annual¥23
Interim¥11
End of period¥12
Payout ratio
The higher of a dividend payout ratio of 35–40% or DOE of 3.5%
Acquisition of treasury shares
Approximately ¥1 billion
Period1 April to 17 April 2026
After acquisitionRepurchased shares are scheduled to be cancelled
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFiscal year ending March 2026
Net Sales¥214,369 million (YoY +9.1%)
Operating profit¥17,649 million (YoY +22.9%)
Ordinary income¥14,182 million (YoY +14.1%)
Net income¥4,758 million (YoY -42.0%)
Selling, general and administrative expenses¥28,009 million
Full-year earnings forecastFiscal Period Covered Fiscal year ending March 2027 / Net Sales ¥228,700 million / Gross profit ¥45,000 million / Operating profit ¥15,000 million / Ordinary income ¥12,100 million / Profit attributable to owners of parent ¥8,000 million
Segment resultsReal Estate Business Net Sales ¥192,446 million (YoY +7.8%) / Gross profit ¥40,766 million (YoY +6.0%) / Operating profit ¥15,552 million (YoY +18.4%) / Energy Business Net Sales ¥11,465 million (YoY +15.6%) / Gross profit ¥3,036 million (YoY +19.0%) / Operating profit ¥1,619 million (YoY +45.8%) / Asset Management Business Net Sales ¥1,226 million (YoY +5.5%) / Gross profit ¥937 million (YoY +0.4%) / Operating profit ¥242 million (YoY -9.5%) / Other Businesses Net Sales ¥9,231 million (YoY +33.3%) / Gross profit ¥918 million (YoY +145.7%) / Operating profit ¥233 million
Breakdown of Factors Affecting the ChangeYear-on-year change in operating income Real Estate Business 2,421 / Energy Business 509 / Asset Management Business -25 / Other Businesses 378 / Year-on-year change in selling, general and administrative expenses Public relations expenses -455 / Advertising and promotional expenses, etc. (property sales) -642 / Sales commissions (securitization, etc.) 360 / Personnel Expenses 315 / Other 483
Key KPIsIndicator name Units sold (new condominium developments) / Value 2,767 units / Year on year against the same period last year Up 428 units, Indicator name Units sold (new detached-home developments) / Value 239 units / Year on year against the same period last year Up 22 units, Indicator name Units sold (renewal and resale) / Value 292 units / Year on year against the same period last year Up 50 units, Indicator name Units under management / Value 95,357 units / Year on year against the same period last year Up 2,222 units, Indicator name Cumulative operating power generation capacity / Value 393 MW / Year on year against the same period last year Up 8 MW, Indicator name Metropolitan-area revenue ratio / Value 45.9 % / Year on year against the same period last year Not disclosed
Medium-term management plan targetsEquity ratio At least 23% / LTV Below 65% / Debt-to-equity ratio Below 3.0x / ROE 9% or more / Shareholder returns and dividend payout ratio 35～40% / 2030 operating profit share within the real estate business New detached-home developments 15%, renewal and resale 15%
Financial targetsEquity ratio Actual results 22.3% / Target At least 23% / LTV Actual results 60.9% / Target Below 65% / Debt-to-equity ratio Actual results 2.5x / Target Below 3.0x / ROE Actual results 11.0% / Target 9% or more
Annual DividendFiscal year ending March 2027 Annual ¥23 / Interim ¥11 / End of period ¥12
Payout ratioThe higher of a dividend payout ratio of 35–40% or DOE of 3.5%
Acquisition of treasury sharesAmount Approximately ¥1 billion / Period 1 April to 17 April 2026 / After acquisition Repurchased shares are scheduled to be cancelled
New initiativesIntroduction of a 3.5% DOE, Repurchase and cancellation of approximately ¥1 billion of shares, Separate the cashew business from the energy business and position it under other businesses and next-generation businesses, Review of the business portfolio and stricter ROIC management, Selective investment in high-growth areas, including batteries for business use, Introduction of a new accounting system, Introduction of a Risk Appetite Framework, Establishment of a new internal control management department and appointment of a CRO
Items this document does not state (14)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookCapital 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.

The real estate business remained solid, while the review of selling prices, tighter control of discounts and measures to improve profitability contributed to higher revenue and profit. However, impairment losses were recorded in connection with the structural reform of the energy business, including at the Nobeoka Biomass Power Plant, resulting in lower net income attributable to owners of the parent.

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Earnings Presentation Materials for the Fiscal Year Ending March 2026 | MIRARTH HOLDINGS,Inc. (8897) timely disclosure | Komori