Revised forecast
Fiscal year ending November 2026 · Full yearPrevious forecast published Announced on 14 January 2026The bar length represents the relative magnitude of change, based on the item that changed the most in this document. The percentage change shown by the dotted line is calculated from the two reported figures because the company did not provide the rate.
Investment appetite among domestic and overseas investors remained firm, and the real estate revitalization and real estate leasing businesses performed strongly, driven by property sales, leasing, and higher rents. In the real estate fund and consulting business, the acquisition and sale of assets under management mandates exceeded initial assumptions. Meanwhile, the timing of sales of some properties in the real estate revitalization business was changed from the current fiscal year to the following fiscal year or later, while expected increases in disposition fees and other fees, as well as stronger-than-expected performance in the real estate leasing business, were factored in.
| Item | Details |
|---|---|
| Net Sales | Consolidated 122,986 / Individual 78,408 → Consolidated 113,613 / Individual 70,236（Consolidated -7.6 / Individual -10.4） |
| Operating profit | ¥24,611 million → ¥25,061 million（+1.8%） |
| Ordinary income | ¥17,471 million (non-consolidated) → ¥19,147 million (non-consolidated)（+9.6%） |
| Profit attributable to owners of the parent | ¥15,157 million → ¥15,906 million（+4.9%） |
| Net income per share | Consolidated 156.31 / Individual 142.7 → Consolidated 163.94 / Individual 161.24 |
| Fiscal Period Covered | Fiscal year ending November 2026 |
| Period Covered | Full year |
| Publication date of previous forecast | Announced on 14 January 2026 |
| Previous-period results | Consolidated: net sales of ¥94,688 million, operating profit of ¥22,336 million, profit before tax of ¥20,631 million, profit for the year attributable to owners of the parent of ¥14,754 million, and basic earnings per share of ¥152.18. Non-consolidated: net sales of ¥56,833 million, ordinary income of ¥15,837 million, net income of ¥13,011 million, and net income per share of ¥134.20. |
| Reason for the revision | Investment appetite among domestic and overseas investors remained firm, and the real estate revitalization and real estate leasing businesses performed strongly, driven by property sales, leasing, and higher rents. In the real estate fund and consulting business, the acquisition and sale of assets under management mandates exceeded initial assumptions. Meanwhile, the timing of sales of some properties in the real estate revitalization business was changed from the current fiscal year to the following fiscal year or later, while expected increases in disposition fees and other fees, as well as stronger-than-expected performance in the real estate leasing business, were factored in. |
| Dividend forecast revision | The year-end dividend was increased by ¥3 from the previous forecast of ¥55 to ¥58 per share. The annual dividend was also increased from ¥55 to ¥58 per share. |
| Consolidated / non-consolidated | Consolidated and standalone |
Items this document does not state (1)
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 revitalization, real estate leasing, and real estate fund and consulting businesses performed strongly, supported by firm investment appetite among domestic and overseas investors and a robust real estate investment market. Meanwhile, the timing of sales of some properties in the real estate revitalization business was changed from the current fiscal year to the following fiscal year or later. The dividend was increased based on the revised earnings forecast and the pre-revision payout ratio of 35.2%.