Worth reading
57In 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
30.1
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 December 2025–31 May 2026ConsolidatedIFRSNet Sales85,956¥ millionYear on year +30.1%Progress 69.9%
Operating profit21,214¥ millionYear on year +20.5%Progress 86.2%
Ordinary income20,140¥ millionYear on year +19.9%Progress 91.5%
Net income attributable to owners of the parent13,806¥ millionYear on year +12.9%Progress 91.1%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥142.35
Financial position at period-end
Total assets309,601¥ million
of which net assets 111,192 ¥ millionEquity ratio 35.9%vs. prior year-end +2.5pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+25,419,387
Investment-4,363,472
Financials-12,594,905
Net change+8,461,010
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ thousand).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥48,072,529 thousand
Segment revenueReal estate revitalization business ¥56,250,489 thousand (YoY +93.2%), Real estate development ¥12,532,058 thousand (YoY -38.2%), Real Estate Leasing Business ¥4,831,946 thousand (YoY +12.9%), Real Estate Fund and Consulting business ¥4,748,858 thousand (YoY -5.7%), Property Management Business ¥3,680,060 thousand (YoY -0.1%), Hotel Business ¥3,913,584 thousand (YoY +6.5%)
Segment profitReal estate revitalization business ¥11,858,608 thousand (YoY +113.8%), Real estate development ¥3,284,570 thousand (YoY -44.1%), Real Estate Leasing Business ¥2,868,316 thousand (YoY +24.5%), Real Estate Fund and Consulting business ¥3,165,650 thousand (YoY -10.6%), Property Management Business ¥560,762 thousand (YoY -14.3%), Hotel Business ¥1,381,504 thousand (YoY -9.2%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥122,986 million (YoY +29.9%)
Operating profit¥24,611 million (YoY +10.2%)
Ordinary income¥22,000 million (YoY +6.6%)
Net income¥15,157 million (YoY +2.7%)
Annual Dividend Forecast¥100 → ¥55（-45.0%）
Factors Behind Changes in Business Performance
Sales of office buildings and rental apartments in the real estate revitalization business drove performance. The company accepted new asset management mandates against the backdrop of an active real estate investment market, while the hotel business captured demand from visitors to Japan from countries other than China.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 Not disclosed
Changes in the scope of consolidationNew 0 / Excluded 0 / Name of newly added company Not disclosed / Excluded Company Name Not disclosed
Material subsequent eventsNot applicable.
Depreciation and amortization¥697,652 thousand
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End97,367,600
Treasury Shares at Period-End361,550
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 December 2025–31 May 2026 |
| Net Sales | ¥85,956 million (YoY +30.1%) |
| Operating profit | ¥21,214 million (YoY +20.5%) |
| Ordinary income | ¥20,140 million (YoY +19.9%) |
| Profit attributable to owners of the parent | ¥13,806 million (YoY +12.9%) |
| Net income per share | ¥142.35 |
| Equity ratio | End of the current fiscal period 35.9 / End of previous period 33.4 |
| Total assets | ¥309,601 million |
| Net assets | ¥111,192 million |
| Cash flows from operating activities | ¥25,419,387 thousand |
| Cash flows from investing activities | ¥-4,363,472 thousand |
| Cash flows from financing activities | ¥-12,594,905 thousand |
| Cash and cash equivalents at end of period | ¥48,072,529 thousand |
| Full-year earnings forecast | Net Sales ¥122,986 million (YoY +29.9%) / Operating profit ¥24,611 million (YoY +10.2%) / Ordinary income ¥22,000 million (YoY +6.6%) / Net income ¥15,157 million (YoY +2.7%) |
| Annual Dividend Forecast | ¥100 → ¥55（-45.0%） |
| Segment revenue | Real estate revitalization business ¥56,250,489 thousand (YoY +93.2%), Real estate development ¥12,532,058 thousand (YoY -38.2%), Real Estate Leasing Business ¥4,831,946 thousand (YoY +12.9%), Real Estate Fund and Consulting business ¥4,748,858 thousand (YoY -5.7%), Property Management Business ¥3,680,060 thousand (YoY -0.1%), Hotel Business ¥3,913,584 thousand (YoY +6.5%) |
| Segment profit | Real estate revitalization business ¥11,858,608 thousand (YoY +113.8%), Real estate development ¥3,284,570 thousand (YoY -44.1%), Real Estate Leasing Business ¥2,868,316 thousand (YoY +24.5%), Real Estate Fund and Consulting business ¥3,165,650 thousand (YoY -10.6%), Property Management Business ¥560,762 thousand (YoY -14.3%), Hotel Business ¥1,381,504 thousand (YoY -9.2%) |
| Depreciation and amortization | ¥697,652 thousand |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement Not disclosed |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Name of newly added company Not disclosed / Excluded Company Name Not disclosed |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 97,367,600 |
| Treasury Shares at Period-End | 361,550 |
| Factors Behind Changes in Business Performance | Sales of office buildings and rental apartments in the real estate revitalization business drove performance. The company accepted new asset management mandates against the backdrop of an active real estate investment market, while the hotel business captured demand from visitors to Japan from countries other than China. |
Items this document does not state (8)
Operating MarginRevision to Earnings ForecastPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogImpairment lossBreakdown of extraordinary income (loss)
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.Sales of office buildings and rental apartments in the real estate revitalization business drove performance. The acceptance of new asset management mandates against the backdrop of an active real estate investment market, as well as the capture of inbound demand, also contributed.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.