Worth reading
82Important
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
450
¥ million (increase from the previous forecast for revenue on a non-consolidated basis)Wording
Definitive
How definitive the wording is.Contents of this document
Earnings presentationQ3 FY202615 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales22,755 Millions of yen
Operating profit4,836 Millions of yen
Ordinary income4,420 Millions of yen
Net income3,030 Millions of yen
Operating profit marginConsolidated: only the progress rate is stated. Unconsolidated: 22.0%, up 0.9 percentage points year on year
Results for the three months of the current quarterProfit and loss figures for the quarter alone were not disclosed. For consolidated results, the 3 months from August to October for ストレージ王 are scheduled to be recorded in the fourth quarter.
Full-year earnings forecast
Consolidated
Net Sales
29,700 Millions of yen
Operating profit
5,900 Millions of yen
Ordinary income
5,430 Millions of yen
Profit attributable to owners of the parent
3,600 Millions of yen
Individual
Net Sales
29,150 Millions of yen
Operating profit
6,200 Millions of yen
Ordinary income
5,750 Millions of yen
Net income for the current fiscal year
3,870 Millions of yen
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
Net Sales76.6%
Operating profit82.0%
Ordinary income81.4%
Profit attributable to owners of the parent84.2%
Individual
Net Sales78.1%
Operating profit80.7%
Ordinary income79.7%
Net income82.6%
Storage Business
Net Sales76.5%
Business profit76.7%
Land rights development business
Net Sales96.9%
Business profit112.0%
Other operations services business
Net Sales78.0%
Business profit82.6%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Above planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Increase in storage operations revenue+¥1,374 million
Increase in storage securitization revenue+¥1,190 million
Land rights improvement business (land leases) revenue decline−¥519 million
Decrease in other operations revenue−¥24 million
Operating profit
Increase in storage business profit+¥650 million
Increase in land rights development business profit+¥1 million
Decrease in other operations profit−¥23 million
Decrease in profit due to head office expenses−¥2 million
New initiatives
- Conversion of ストレージ王 into a consolidated subsidiary
- Discontinuation of ストレージ王's real estate sales and transition to a focus on recurring revenue
- Planned conversion of ストレージ王 into a wholly owned subsidiary and delisting
- Full-scale operation of the partner program
- Strengthening operations through the use of data analytics, dynamic pricing, and BI tools
Key KPIsA metric the company considers important as a management benchmark.
- Total units138,050 Rooms
- Occupied units107,944 Rooms
- Overall utilization rate78.19 %
- Occupancy rate at existing locations86.48 %
- Average rent¥14,960 per unit per monthYear on year against the same period last year+3.2% (vs. December 2025)
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average rent: ¥14,960 (monthly per unit, up 3.2% vs. December 2025). Total units: 138,050; occupied units: 107,944; overall occupancy rate: 78.19%.Segment results
Storage Operations
Net Sales
15,927 Millions of yen+9.4%
Gross profit
6,330 Millions of yen+9.3%
Storage securitization
Net Sales
3,668 Millions of yen+48.1%
Gross profit
721 Millions of yen+54.6%
Storage Business
Net Sales
19,595 Millions of yen+15.1%
Business profit
5,303 Millions of yen+14.0%
Land rights development business (leasehold land)
Net Sales
2,004 Millions of yen-20.6%
Business profit
447 Millions of yen+0.3%
Other operations services business
Net Sales
1,154 Millions of yen-2.1%
Business profit
309 Millions of yen-7.2%
Medium-term management plan targets
Fiscal 2029: company-wide revenue of ¥33.5 billion, operating profit of ¥8 billion, and operating margin of 23.8%. Storage business revenue of ¥30 billion, business profit of ¥9 billion, 200,000 total units, and an overall occupancy rate of 83%.Financial targets
Actual equity ratio: 46.0%. Financial targets were not disclosed.Market Size / Share
Market share was 17% in 2024 and is expected to reach 24% in 2029 (company estimate).Number of stores and locations
3,202 locations at period-end. 15,105 units opened during the third quarter of fiscal 2026. Closures during the period were not disclosed.Number of employees
ストレージ王: 25 people. エリアリンク's employee count and hiring plans were not disclosed.Capital expenditures
Investment in new storage openings: ¥24 billion in aggregate for 2025–2027.Annual Dividend
2026 forecast: annual dividend of ¥29 per share (interim ¥14.5, year-end ¥14.5).Payout ratio
35% or more. The materials state a forecast payout ratio of 36.1% for 2026.Gross profit
Unconsolidated: ¥8,223 million; gross margin 36.1%, up 0.2 percentage points year on year| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Q3 FY2026 |
| Net Sales | 22,755 Millions of yen |
| Operating profit | 4,836 Millions of yen |
| Ordinary income | 4,420 Millions of yen |
| Net income | 3,030 Millions of yen |
| Gross profit | Unconsolidated: ¥8,223 million; gross margin 36.1%, up 0.2 percentage points year on year |
| Operating profit margin | Consolidated: only the progress rate is stated. Unconsolidated: 22.0%, up 0.9 percentage points year on year |
| Results for the three months of the current quarter | Profit and loss figures for the quarter alone were not disclosed. For consolidated results, the 3 months from August to October for ストレージ王 are scheduled to be recorded in the fourth quarter. |
| Full-year earnings forecast | Consolidated Net Sales 29,700 Millions of yen / Operating profit 5,900 Millions of yen / Ordinary income 5,430 Millions of yen / Profit attributable to owners of the parent 3,600 Millions of yen / Individual Net Sales 29,150 Millions of yen / Operating profit 6,200 Millions of yen / Ordinary income 5,750 Millions of yen / Net income for the current fiscal year 3,870 Millions of yen |
| Progress against full-year forecast | Consolidated Net Sales 76.6% / Operating profit 82.0% / Ordinary income 81.4% / Profit attributable to owners of the parent 84.2% / Individual Net Sales 78.1% / Operating profit 80.7% / Ordinary income 79.7% / Net income 82.6% / Storage Business Net Sales 76.5% / Business profit 76.7% / Land rights development business Net Sales 96.9% / Business profit 112.0% / Other operations services business Net Sales 78.0% / Business profit 82.6% |
| Self-assessment against the plan | Above plan |
| Segment results | Storage Operations Net Sales 15,927 Millions of yen (YoY +9.4%) / Gross profit 6,330 Millions of yen (YoY +9.3%) / Storage securitization Net Sales 3,668 Millions of yen (YoY +48.1%) / Gross profit 721 Millions of yen (YoY +54.6%) / Storage Business Net Sales 19,595 Millions of yen (YoY +15.1%) / Business profit 5,303 Millions of yen (YoY +14.0%) / Land rights development business (leasehold land) Net Sales 2,004 Millions of yen (YoY -20.6%) / Business profit 447 Millions of yen (YoY +0.3%) / Other operations services business Net Sales 1,154 Millions of yen (YoY -2.1%) / Business profit 309 Millions of yen (YoY -7.2%) |
| Breakdown of Factors Affecting the Change | Net Sales Increase in storage operations revenue +¥1,374 million / Increase in storage securitization revenue +¥1,190 million / Land rights improvement business (land leases) revenue decline −¥519 million / Decrease in other operations revenue −¥24 million / Operating profit Increase in storage business profit +¥650 million / Increase in land rights development business profit +¥1 million / Decrease in other operations profit −¥23 million / Decrease in profit due to head office expenses −¥2 million |
| Key KPIs | Indicator name Total units / Value 138,050 Rooms / Year on year against the same period last year Not disclosed, Indicator name Occupied units / Value 107,944 Rooms / Year on year against the same period last year Not disclosed, Indicator name Overall utilization rate / Value 78.19 % / Year on year against the same period last year Not disclosed, Indicator name Occupancy rate at existing locations / Value 86.48 % / Year on year against the same period last year Not disclosed, Indicator name Average rent / Value ¥14,960 per unit per month / Year on year against the same period last year +3.2% (vs. December 2025) |
| Unit price and quantity metrics | Average rent: ¥14,960 (monthly per unit, up 3.2% vs. December 2025). Total units: 138,050; occupied units: 107,944; overall occupancy rate: 78.19%. |
| Number of stores and locations | 3,202 locations at period-end. 15,105 units opened during the third quarter of fiscal 2026. Closures during the period were not disclosed. |
| Number of employees | ストレージ王: 25 people. エリアリンク's employee count and hiring plans were not disclosed. |
| Medium-term management plan targets | Fiscal 2029: company-wide revenue of ¥33.5 billion, operating profit of ¥8 billion, and operating margin of 23.8%. Storage business revenue of ¥30 billion, business profit of ¥9 billion, 200,000 total units, and an overall occupancy rate of 83%. |
| Financial targets | Actual equity ratio: 46.0%. Financial targets were not disclosed. |
| Annual Dividend | 2026 forecast: annual dividend of ¥29 per share (interim ¥14.5, year-end ¥14.5). |
| Payout ratio | 35% or more. The materials state a forecast payout ratio of 36.1% for 2026. |
| Capital expenditures | Investment in new storage openings: ¥24 billion in aggregate for 2025–2027. |
| Market Size / Share | Market share was 17% in 2024 and is expected to reach 24% in 2029 (company estimate). |
| New initiatives | Conversion of ストレージ王 into a consolidated subsidiary, Discontinuation of ストレージ王's real estate sales and transition to a focus on recurring revenue, Planned conversion of ストレージ王 into a wholly owned subsidiary and delisting, Full-scale operation of the partner program, Strengthening operations through the use of data analytics, dynamic pricing, and BI tools |
Items this document does not state (6)
Selling, general and administrative expensesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAcquisition of treasury sharesOrders 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 storage operations, growth in the number of occupied units from new openings, efforts to lease units at list prices, and price reviews for existing customers and upon tenant turnover contributed to results. In storage securitization, sales of 12 building-type facilities and orders for outdoor containers and other products contributed, while the land-rights development business sold two used apartments in addition to leased land.
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