FY2027 (49th fiscal year), Second-Quarter Earnings Presentation Materials | KATITAS CO.,LTD (8919) timely disclosure

Worth reading

87Important

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Direction

Improvement

Direction inferred from the company’s description.

Scale

25.9

Operating profit year on year (%)

Wording

Conditional

How definitive the wording is.

Contents of this document

Earnings presentation materialsSecond quarter of the fiscal year ending March 202712 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥89,987 million+24.3%

Operating profit¥11,454 million+27.1%

Ordinary income¥11,140 million+26.8%

Net income¥7,608 million+27.1%

Gross Profit Margin23.2%

Operating profit margin12.7%

Selling, general and administrative expenses¥9,461 million

Results for the three months of the current quarter

Net Sales

¥46,025 million

Operating profit

¥5,891 million

Ordinary income

¥5,722 million

Net income

¥3,929 million

Number of sales

2,414 contracts

Full-year earnings forecast

Net Sales

¥177,400 million

Operating profit

¥21,000 million

Ordinary income

¥20,000 million

Net income

¥14,000 million

Number of sales

9,700 contracts

Gross profit

¥40,500 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 Sales50.7%

Number of sales49.4%

Gross profit51.6%

Operating profit54.5%

Ordinary income55.7%

Net income54.3%

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

First-half results remained strong, exceeding plan. Sales volume was in line with plan, gross profit per sale was slightly above plan, and operating profit exceeded plan.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Higher sales volume, higher gross profit per sale, improved productivity, higher SG&A expenses (personnel costs from new graduate hires and incentives, and taxes and dues from higher inventories), a change in the accounting method for human capital investment, and a ¥36 million extraordinary loss

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Inventory in the new-build housing market is expected to gradually increase toward the second half of the fiscal year.
Mortgage interest rates for buyers are trending upward.
The impact of inflation-driven cost increases is assumed to be limited
The impact of higher crude oil prices and housing-equipment manufacturers suspending orders, among other factors, is expected to be limited.

New initiatives

Tender offer aimed at making 東武住販 a wholly owned subsidiary
Opening new stores in suburban areas and small-format stores
Property brokerage within the group
Improving sales productivity through the use of AI and automation

Key KPIsA metric the company considers important as a management benchmark.

Number of sales4,795 contracts
Year on year against the same period last year+18.0%
Number of acquisitions5,515 contracts
Year on year against the same period last year+16.4%
Gross profit per unit¥4.36 million per transaction
Year on year against the same period last year+2.9%
Total properties held for sale¥96,392 million
Year on year against the same period last year+36.1%
ROE(LTM)26.3%
Year on year against the same period last year+2.5pt
ROA(LTM)20.9%
Year on year against the same period last year+1.1pt
Inventory turnover (LTM)1.56 times
Year on year against the same period last year-0.13x

Unit price and quantity metricsThese figures show sales broken down by price and volume.

Number of sales

4,795 contracts+18.0%

Number of acquisitions

5,515 contracts+16.4%

Gross profit per unit

¥4.36 million per transaction+2.9%

Medium-term management plan targets

Number of sales for the fiscal year ending March 2028More than 10,000 properties

Operating profit for the fiscal year ending March 2028¥23,000 million

ROEMaintain at least 20% and target 25%.

Payout ratioAt least 50.0% and progressive dividends

Financial targets

ROE targetMaintain at least 20% and target 25%.

Actual ROE26.3%

Actual equity ratio51.9%

Market Size / Share

KATITAS's sales volume in FY2026 was approximately 5.2% of the estimated market size.
潜在 demand among the core customer segment is approximately 123,000 transactions per year.

Number of employees

Sales personnel973 sales personnel as of September 2026

Year on year against the same period last year+10.9%

Expected new graduate hiresApril 2027 new hires: KATITAS 160, REPRICE 35

Annual Dividend

¥90.0 per share

Interim¥45.0 per share

End of period¥45.0 per share

Payout ratio

50.3%

Contents of this document
Item	Details
Document type	Earnings presentation materials
Fiscal Period Covered	Second quarter of the fiscal year ending March 2027
Net Sales	¥89,987 million (YoY +24.3%)
Operating profit	¥11,454 million (YoY +27.1%)
Ordinary income	¥11,140 million (YoY +26.8%)
Net income	¥7,608 million (YoY +27.1%)
Gross Profit Margin	23.2%
Operating profit margin	12.7%
Selling, general and administrative expenses	¥9,461 million
Results for the three months of the current quarter	Net Sales ¥46,025 million / Operating profit ¥5,891 million / Ordinary income ¥5,722 million / Net income ¥3,929 million / Number of sales 2,414 contracts
Full-year earnings forecast	Net Sales ¥177,400 million / Operating profit ¥21,000 million / Ordinary income ¥20,000 million / Net income ¥14,000 million / Number of sales 9,700 contracts / Gross profit ¥40,500 million
Progress against full-year forecast	Net Sales 50.7% / Number of sales 49.4% / Gross profit 51.6% / Operating profit 54.5% / Ordinary income 55.7% / Net income 54.3%
Self-assessment against the plan	First-half results remained strong, exceeding plan. Sales volume was in line with plan, gross profit per sale was slightly above plan, and operating profit exceeded plan.
Breakdown of Factors Affecting the Change	Higher sales volume, higher gross profit per sale, improved productivity, higher SG&A expenses (personnel costs from new graduate hires and incentives, and taxes and dues from higher inventories), a change in the accounting method for human capital investment, and a ¥36 million extraordinary loss
Key KPIs	Indicator name Number of sales / Value 4,795 contracts / Year on year against the same period last year +18.0%, Indicator name Number of acquisitions / Value 5,515 contracts / Year on year against the same period last year +16.4%, Indicator name Gross profit per unit / Value ¥4.36 million per transaction / Year on year against the same period last year +2.9%, Indicator name Total properties held for sale / Value ¥96,392 million / Year on year against the same period last year +36.1%, Indicator name ROE(LTM) / Value 26.3% / Year on year against the same period last year +2.5pt, Indicator name ROA(LTM) / Value 20.9% / Year on year against the same period last year +1.1pt, Indicator name Inventory turnover (LTM) / Value 1.56 times / Year on year against the same period last year -0.13x
Unit price and quantity metrics	Number of sales 4,795 contracts (YoY +18.0%) / Number of acquisitions 5,515 contracts (YoY +16.4%) / Gross profit per unit ¥4.36 million per transaction (YoY +2.9%)
Number of employees	Sales personnel 973 sales personnel as of September 2026 / Year on year against the same period last year +10.9% / Expected new graduate hires April 2027 new hires: KATITAS 160, REPRICE 35
Assumptions Underlying the Business Outlook	Inventory in the new-build housing market is expected to gradually increase toward the second half of the fiscal year., Mortgage interest rates for buyers are trending upward., The impact of inflation-driven cost increases is assumed to be limited, The impact of higher crude oil prices and housing-equipment manufacturers suspending orders, among other factors, is expected to be limited.
Medium-term management plan targets	Number of sales for the fiscal year ending March 2028 More than 10,000 properties / Operating profit for the fiscal year ending March 2028 ¥23,000 million / ROE Maintain at least 20% and target 25%. / Payout ratio At least 50.0% and progressive dividends
Financial targets	ROE target Maintain at least 20% and target 25%. / Actual ROE 26.3% / Actual equity ratio 51.9%
Annual Dividend	¥90.0 per share
Payout ratio	50.3%
Market Size / Share	KATITAS's sales volume in FY2026 was approximately 5.2% of the estimated market size., 潜在 demand among the core customer segment is approximately 123,000 transactions per year.
New initiatives	Tender offer aimed at making 東武住販 a wholly owned subsidiary, Opening new stores in suburban areas and small-format stores, Property brokerage within the group, Improving sales productivity through the use of AI and automation

Items this document does not state (7)

Segment resultsNumber of stores and locationsRisk amount incorporated into the outlookAcquisition of treasury sharesCapital 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.

The increase in operating profit was driven by higher sales volume, high gross profit per sale and improved productivity. SG&A expenses increased due to higher personnel costs resulting from an increase in new graduate hires and profit-linked incentives, as well as taxes and dues associated with higher inventories.

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