Worth reading
63In focus
Scored from 4 of 6 sectionsDirection
Deterioration
Direction inferred from the company’s description.Scale
-320
Millions of yenWording
Conditional
How definitive the wording is.Results for this period
Third quarter1 January 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales2,774,566¥ thousandYear on year +1.2%
Operating profit-320,808¥ thousand
Ordinary income-342,020¥ thousand
Net income attributable to owners of the parent-344,175¥ thousand
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.
Financial position at period-end
Total assets3,575,142¥ thousand
of which net assets 2,245,261 ¥ thousand
The shaded area represents net assets as a proportion of total assets. It is calculated from the two amounts reported by the company.
Segment revenueReal estate sales business ¥1,677,814 thousand (YoY +5.4%), Real Estate Management Business ¥553,282 thousand (YoY +11.1%), Real Estate Leasing Business ¥335,544 thousand (YoY +5.3%), Real estate brokerage business ¥158,782 thousand (YoY -34.8%), Investment Business ¥100,819 thousand (YoY +10.2%)
Segment profitReal estate sales business ¥38,956 thousand (YoY -78.6%), Real Estate Management Business ¥76,436 thousand (YoY -24.7%), Real Estate Leasing Business ¥31,975 thousand (YoY +23.6%), Real estate brokerage business ¥-10,120 thousand, Investment Business ¥-14,941 thousand
Outlook and shareholder returns
Revision to Earnings ForecastRevenue and profit at every level are expected to fall below the previously announced forecasts.
Factors Behind Changes in Business Performance
In the real estate sales business, gross profit margins were constrained as priority was given to promoting property sales. In the real estate management business, higher personnel expenses associated with restructuring the organisational framework put pressure on profit, while in the RWA business, costs for establishing the foundation and preparing for operations exceeded expectations.
Disclosure regarding the going concern assumption
No applicable items
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 No
Changes in the scope of consolidationNew Number of companies 1 / Company name ASIAN STAR（Hong Kong）Limited / Excluded Not disclosed
Material subsequent eventsNo applicable items
Breakdown of extraordinary income (loss)Extraordinary income None / Extraordinary loss None
Depreciation and amortization¥13,427 thousand
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026 to 30 September 2026 |
| Net Sales | ¥2,774,566 thousand (YoY +1.2%) |
| Operating profit | ¥-320,808 thousand |
| Ordinary income | ¥-342,020 thousand |
| Profit attributable to owners of the parent | ¥-344,175 thousand |
| Total assets | ¥3,575,142 thousand |
| Net assets | ¥2,245,261 thousand |
| Revision to Earnings Forecast | Revenue and profit at every level are expected to fall below the previously announced forecasts. |
| Segment revenue | Real estate sales business ¥1,677,814 thousand (YoY +5.4%), Real Estate Management Business ¥553,282 thousand (YoY +11.1%), Real Estate Leasing Business ¥335,544 thousand (YoY +5.3%), Real estate brokerage business ¥158,782 thousand (YoY -34.8%), Investment Business ¥100,819 thousand (YoY +10.2%) |
| Segment profit | Real estate sales business ¥38,956 thousand (YoY -78.6%), Real Estate Management Business ¥76,436 thousand (YoY -24.7%), Real Estate Leasing Business ¥31,975 thousand (YoY +23.6%), Real estate brokerage business ¥-10,120 thousand, Investment Business ¥-14,941 thousand |
| Depreciation and amortization | ¥13,427 thousand |
| Breakdown of extraordinary income (loss) | Extraordinary income None / Extraordinary loss None |
| Disclosure regarding the going concern assumption | No applicable items |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 1 / Company name ASIAN STAR（Hong Kong）Limited / Excluded Not disclosed |
| Material subsequent events | No applicable items |
| Factors Behind Changes in Business Performance | In the real estate sales business, gross profit margins were constrained as priority was given to promoting property sales. In the real estate management business, higher personnel expenses associated with restructuring the organisational framework put pressure on profit, while in the RWA business, costs for establishing the foundation and preparing for operations exceeded expectations. |
Items this document does not state (18)
Net income per shareOperating MarginEquity ratioCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodFull-year earnings forecastAnnual Dividend ForecastPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogImpairment lossAvailability of Supplementary Financial Results MaterialsAvailability of Financial Results BriefingIssued Shares at Period-EndTreasury Shares at Period-End
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.Profit margins narrowed as prices were adjusted to prioritise inventory turnover in the real estate sales business, costs associated with the organisational restructuring increased, and costs for establishing the foundation and preparing for the RWA business exceeded expectations.
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.