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Earnings presentation8897MIRARTH HOLDINGS,Inc.Real estate

Second-Quarter Financial Results Briefing Materials for the Fiscal Year Ending March 2027

In the second quarter of the fiscal year ending March 2027, substantial sales growth was driven by the expansion of the real estate business, particularly its asset-securitisation activities, while operating income and interim net income improved from the low level and loss, respectively, recorded in the same period of the previous year. The full-year earnings forecast was unchanged, and shareholder returns were enhanced through measures including share buybacks and the introduction of a DOE policy.

Worth reading
63In focus
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
94202
¥ million (revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationSecond quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥94,202 million+66.5%
Operating profit¥7,505 million
Ordinary income¥5,608 million
Net income¥3,739 million interim net income attributable to owners of the parent
Gross Profit Margin23.5 %
Operating profit margin8 %
Selling, general and administrative expenses¥14,639 million
Full-year earnings forecast
Net Sales
¥228,700 million
Gross profit
¥45,000 million
Operating profit
¥15,000 million
Ordinary income
¥12,100 million
Net income
¥8,000 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 Sales41.2
Gross profit49.2
Operating profit50
Ordinary income46.6
Net income46.7
Real estate revenue40.5
Real Estate Business Gross Profit47
Real estate operating profit44.8
Energy Business revenue46.4
Energy Business Gross Profit66.2
Energy Business Operating Profit64.6
Asset Management Business revenue58
Asset Management Business Gross Profit61.1
Asset Management Business operating profit246.4
Other Businesses net sales45.2
Gross profit from other businesses86.3
Other Businesses operating income233.8
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Each segment is progressing generally in line with the plans set at the beginning of the fiscal year
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Real estate business+¥7,492 million
  • Energy Business-¥150 million
  • Asset Management Business+¥96 million
  • Other businesses+¥28 million
New initiatives
  • Introduction of a 3.5% DOE
  • Resumption or introduction of the shareholder benefit program
  • Acquisition and cancellation of treasury shares
  • Making Leben Home Build and Leben Zestock wholly owned subsidiaries
  • Change of corporate name accompanying the conversion into wholly owned subsidiaries
  • Promoting the standard installation of the disaster-preparedness system condominium product “MIRARESI”
  • Completion of the refrigerated and frozen warehouse “L.PORT Omiya” and expansion of the asset securitisation business
Key KPIsA metric the company considers important as a management benchmark.
  • Contract progress rate for newly built condominium sales69.1 %
  • Newly built condominium units sold722 units
  • Number of newly built condominium units scheduled for handover2,480 units
  • Number of newly built condominium units under contract1,713 units
  • Number of condominium sites secured4,253 units
  • Metropolitan area ratio46.4 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Newly built condominium units sold722 units
  • Number of new-build detached houses sold and collected56 units
  • Number of renovated resale units collected138 units
Segment results
  • Real estate business
    Net Sales¥82,085 million (YoY +77.5%)
    Gross profit¥18,986 million (YoY +92.0%)
    Operating profit¥5,739 million
  • Energy Business
    Net Sales¥8,824 million (YoY +43.7%)
    Gross profit¥2,052 million (YoY -8.2%)
    Operating profit¥1,291 million (YoY -10.4%)
  • Asset Management Business
    Net Sales¥580 million (YoY +18.8%)
    Gross profit¥458 million (YoY +33.3%)
    Operating profit¥123 million (YoY +357.3%)
  • Other businesses
    Net Sales¥2,711 million (YoY -26.5%)
    Gross profit¥647 million (YoY +12.6%)
    Operating profit¥350 million (YoY +8.8%)
Medium-term management plan targets
Equity ratioAt least 23% (fiscal year ending March 2027)
LTVBelow 65% (fiscal year ending March 2027)
Debt-to-equity ratioBelow 3.0x (fiscal year ending March 2027)
ROEAt least 9% (fiscal year ending March 2027)
Shareholder returns and dividend payout ratio35%–40% (fiscal year ending March 2027)
Financial targets
Equity ratio
Actual results20.0%
TargetAt least 23%
LTV
Actual results63.9%
TargetBelow 65%
Debt-to-equity ratio
Actual results3.0x
TargetBelow 3.0x
ROE
Actual results5.7%
Target9% or more
ROIC
Actual results3.7%
Full-year forecast3.2%
Annual Dividend
Interim¥11
End of period¥12
Payout ratio
Apply the higher of 35% or 40%
Acquisition of treasury shares
Approximately ¥1 billion
Period1 April to 17 April 2026
Cancellation15 May 2026
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales¥94,202 million (YoY +66.5%)
Operating profit¥7,505 million
Ordinary income¥5,608 million
Net income¥3,739 million (interim net income attributable to owners of the parent)
Gross Profit Margin23.5 %
Operating profit margin8 %
Selling, general and administrative expenses¥14,639 million
Full-year earnings forecastNet Sales ¥228,700 million / Gross profit ¥45,000 million / Operating profit ¥15,000 million / Ordinary income ¥12,100 million / Net income ¥8,000 million
Progress against full-year forecastNet Sales 41.2 / Gross profit 49.2 / Operating profit 50 / Ordinary income 46.6 / Net income 46.7 / Real estate revenue 40.5 / Real Estate Business Gross Profit 47 / Real estate operating profit 44.8 / Energy Business revenue 46.4 / Energy Business Gross Profit 66.2 / Energy Business Operating Profit 64.6 / Asset Management Business revenue 58 / Asset Management Business Gross Profit 61.1 / Asset Management Business operating profit 246.4 / Other Businesses net sales 45.2 / Gross profit from other businesses 86.3 / Other Businesses operating income 233.8
Self-assessment against the planEach segment is progressing generally in line with the plans set at the beginning of the fiscal year
Segment resultsSegment Real estate business / Net Sales ¥82,085 million (YoY +77.5%) / Gross profit ¥18,986 million (YoY +92.0%) / Operating profit ¥5,739 million, Segment Energy Business / Net Sales ¥8,824 million (YoY +43.7%) / Gross profit ¥2,052 million (YoY -8.2%) / Operating profit ¥1,291 million (YoY -10.4%), Segment Asset Management Business / Net Sales ¥580 million (YoY +18.8%) / Gross profit ¥458 million (YoY +33.3%) / Operating profit ¥123 million (YoY +357.3%), Segment Other businesses / Net Sales ¥2,711 million (YoY -26.5%) / Gross profit ¥647 million (YoY +12.6%) / Operating profit ¥350 million (YoY +8.8%)
Breakdown of Factors Affecting the ChangeFactors Real estate business / Amount +¥7,492 million, Factors Energy Business / Amount -¥150 million, Factors Asset Management Business / Amount +¥96 million, Factors Other businesses / Amount +¥28 million
Key KPIsIndicator name Contract progress rate for newly built condominium sales / Value 69.1 % / Year on year against the same period last year Not disclosed, Indicator name Newly built condominium units sold / Value 722 units / Year on year against the same period last year Not disclosed, Indicator name Number of newly built condominium units scheduled for handover / Value 2,480 units / Year on year against the same period last year Not disclosed, Indicator name Number of newly built condominium units under contract / Value 1,713 units / Year on year against the same period last year Not disclosed, Indicator name Number of condominium sites secured / Value 4,253 units / Year on year against the same period last year Not disclosed, Indicator name Metropolitan area ratio / Value 46.4 % / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name Newly built condominium units sold / Value 722 units, Indicator name Number of new-build detached houses sold and collected / Value 56 units, Indicator name Number of renovated resale units collected / Value 138 units
Medium-term management plan targetsEquity ratio At least 23% (fiscal year ending March 2027) / LTV Below 65% (fiscal year ending March 2027) / Debt-to-equity ratio Below 3.0x (fiscal year ending March 2027) / ROE At least 9% (fiscal year ending March 2027) / Shareholder returns and dividend payout ratio 35%–40% (fiscal year ending March 2027)
Financial targetsEquity ratio Actual results 20.0% / Target At least 23% / LTV Actual results 63.9% / Target Below 65% / Debt-to-equity ratio Actual results 3.0x / Target Below 3.0x / ROE Actual results 5.7% / Target 9% or more / ROIC Actual results 3.7% / Full-year forecast 3.2%
Annual DividendInterim ¥11 / End of period ¥12
Payout ratioApply the higher of 35% or 40%
Acquisition of treasury sharesAmount Approximately ¥1 billion / Period 1 April to 17 April 2026 / Cancellation 15 May 2026
New initiativesIntroduction of a 3.5% DOE, Resumption or introduction of the shareholder benefit program, Acquisition and cancellation of treasury shares, Making Leben Home Build and Leben Zestock wholly owned subsidiaries, Change of corporate name accompanying the conversion into wholly owned subsidiaries, Promoting the standard installation of the disaster-preparedness system condominium product “MIRARESI”, Completion of the refrigerated and frozen warehouse “L.PORT Omiya” and expansion of the asset securitisation business
Items this document does not state (9)
Results for the three months of the current quarterNumber 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.

In the real estate business, the asset securitisation of development properties and existing properties progressed strongly, boosting sales and operating income. Other factors contributing to higher profit included an increase in completions of newly built condominiums in the first half, more mandates in the asset management business, and cost controls and improved profitability in the construction business. Meanwhile, profit declined in the energy business due to lower profitability resulting from higher interest rates and other factors.

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Second-Quarter Financial Results Briefing Materials for the Fiscal Year Ending March 2027 | MIRARTH HOLDINGS,Inc. (8897) timely disclosure | Komori