Business Expansion Through Strengthening the Recurring-Revenue Business

「In existing-home sales, demand for existing homes, which are relatively affordable, increased against a backdrop of soaring new-home prices and rising mortgage rates. Sales totaled 55 homes, up 6 year on year. Profitability improved year on year as enhanced inventory management implemented in the previous fiscal year reduced long-term inventory and increased sales of higher-margin properties.」

「利益面では、前期に実施した在庫管理強化の効果により長期在庫の圧縮が進み、収益性の高い物件の販売が増加したことから、前年同期比で改善いたしました。」

「In November 2025, we introduced the “60-Year Warranty and Support System” to improve long-term customer satisfaction and stabilize our customer base. We also revamped the owner membership organization “Smile Club” to strengthen new-home sales and expand synergies with the stock business.」

「In existing-home sales, demand for relatively affordable existing homes increased against a backdrop of soaring new-home prices, but the business environment remained challenging due to higher acquisition prices and competition with new low-cost homes. Sales totaled 49 homes, down 15 year on year, while profit improved as a result of more effective inventory management.」

「In the stock business, comprising existing-home sales and renovation, we will establish new sales locations with showrooms to strengthen orders for renovation work from customers other than those who purchased homes from us and increase our ability to attract customers. In the existing-home business, which acquires and resells existing homes, we will strengthen brokerage operations and diversify our services and revenue sources.」

「Against this backdrop, we carefully selected properties for acquisition while focusing on strengthening sales. As a result, the number of homes sold in the first half of the fiscal year was 64, up 7 year on year.」

「In existing-home sales, rising acquisition and renovation costs pushed up selling prices year on year. In addition, demand remained sluggish and the order environment continued to be challenging, with major builders visibly reviewing the prices of new low-cost homes. Under these conditions, the number of homes sold in the first 3 quarters of the fiscal year was 92, down 7 year on year.」

「In used-home sales, procurement prices continued to rise under the influence of soaring new-build housing prices, while renovation costs increased due to higher material prices. As a result, used-home selling prices also continued to trend upward, and buyer appetite declined.」

「In used-home sales, selling prices continued to rise as new-build housing prices soared. Procurement conditions also remained difficult, with property prices and renovation costs increasing, making the identification of high-quality properties increasingly important. …… Sales during the three-month consolidated period totaled 27 homes, down 8 homes year on year.」

「In used-home sales, as new-build housing prices continued to rise, demand increased for relatively affordable used homes, and procurement costs and selling prices continued to trend upward, particularly in the Tokyo metropolitan region. Under these conditions, we worked to acquire high-quality properties and build inventory to expand sales. However, buyer appetite weakened as property prices rose, and used-home sales for the fiscal year declined by 22 homes year on year to 126 homes.」

「Under these conditions, we worked to select properties for procurement by strengthening cooperation with brokers and screening auction properties. However, sales during the nine-month consolidated period declined by 17 homes year on year to 99 homes, affected by factors including lower buyer sentiment due to rising prices.」

「Under these conditions, we strengthened cooperation with brokers while carefully screening auction properties before bidding, in an effort to secure high-quality properties. As a result, although profit increased during the six-month consolidated period due to improved margins and other factors, sales totaled 66 homes, down 9 homes year on year, partly because of intensifying competition from other companies.」

「In used-home sales, although difficult conditions continued, including a decline in the distribution of newer properties and procurement prices remaining at elevated levels, we worked to strengthen our procurement structure to expand the business.」

「In used-home sales, we worked to enhance product inventory by strengthening cooperation with brokers and actively participating in bids for auction properties in order to increase sales. As a result of these initiatives, sales for the fiscal year totaled 148 homes, up 11 homes year on year.」

「In used-home sales, we worked to expand product inventory by strengthening procurement to increase sales. As a result of these initiatives, sales during the nine-month consolidated period totaled 116 homes, up 14 homes year on year.」

「In used-home sales, we continued working to increase sales by enhancing product inventory. Although the effects of COVID-19 remained, we strengthened both procurement and sales by expanding web advertising, reinforcing cooperation with brokers and other parties, and focusing on auction-based procurement. As a result, sales during the six-month consolidated period totaled 75 homes, up 8 homes year on year.」

「In used-home sales, we worked to expand product inventory by strengthening procurement to increase sales.」

「In used-home sales, we continued working to increase sales by enhancing product inventory. However, during the first half, procurement through auction channels was forced to decline substantially year on year due to factors including the cancellation of bids associated with the spread of COVID-19. Although procurement began to recover in the third quarter, the impact of lower inventory remained on sales, and sales during the nine-month consolidated period totaled 102 homes, down 15 homes year on year.」

「In used-home sales, we continued working to increase sales by enhancing product inventory. However, customer self-restraint from going out due to the spread of COVID-19 and the cancellation of auction bids through July this year affected both procurement and sales, resulting in sales of 67 homes during the six-month consolidated period, down 13 homes year on year.」

「In used-home sales, we worked to secure product inventory to increase sales amid a worsening procurement environment, including the cancellation of auction bids.」

「In used-home sales, we continued to pursue initiatives including enhancing product inventory to increase sales. By strengthening procurement and shortening the period required to prepare properties for sale, we secured the target inventory level of 80 homes at all times, and orders continued to trend above the previous fiscal year.」

「As competition intensified in procurement, we strengthened procurement and shortened the period required to prepare properties for sale, with the goal of maintaining 80 completed homes in inventory at all times. As a result, used-home sales during the nine-month consolidated period totaled 117 homes, up 6 homes year on year.」

「As competition intensified in procurement, we strengthened procurement and shortened the period required to prepare properties for sale, with the goal of maintaining 80 completed homes in inventory at all times. As a result, inventory generally remained above the target level, orders continued to trend upward, and used-home sales during the six-month consolidated period totaled 80 homes, up 8 homes year on year.」

「In used-home sales, we continued from the previous fiscal year to work on measures including enhancing product inventory to increase sales. As competition intensified in procurement, we strengthened procurement, targeting 80 completed homes in inventory at all times, by expanding the Tokyo metropolitan sales area and developing new areas. As a result, orders continued to trend above the same period of the previous year.」

「As competition at auctions intensified, we strengthened procurement and worked to shorten the period required to prepare properties for sale, with the goal of maintaining 70 completed homes in inventory at all times. As a result, orders continued to trend above the previous year, and used-home sales during the nine-month consolidated period totaled 111 homes, up 13 homes year on year.」

「In used-home sales, we continued from the previous fiscal year to enhance product inventory to increase sales. As competition at auctions intensified on the procurement side, we worked to strengthen procurement with the goal of maintaining 70 completed homes in inventory at all times, and」

「In used-home sales, we continued from the previous fiscal year to enhance product inventory in order to increase sales. As competition at auctions intensified, we strengthened procurement with the goal of maintaining 70 completed homes in inventory at all times, which increased total inventory. However, because completed inventory remained below the target level, used-home sales during the quarter increased only slightly to 31 homes, up 1 home year on year.」

「In used-home sales, we worked to enhance product inventory and expand the business in the Tokyo metropolitan region to increase sales. For product inventory, we strengthened procurement with a new target of maintaining 70 completed homes in inventory at all times, and in the Tokyo metropolitan region we worked to expand our handling of pre-owned condominiums. As a result of these initiatives, orders increased for three consecutive quarters through the second quarter, but declined during the current quarter because orders in December last year were weak.」

「In used-home sales, we also worked to enhance product inventory and expand the business in the Tokyo metropolitan region. As a result, the recovery in orders continued, and sales in the first half recovered to approximately the level of the same period of the previous year.」

「Under the basic policies of our medium-term management plan, “sustainable growth through strengthening our core business (new-build housing)” and “business expansion through strengthening the stock business,” our group continued working to expand and strengthen its businesses.」

「In used-home sales, under our policy of strengthening the stock business, we worked to enhance product inventory across all sales areas, maintaining more than 100 homes in inventory at all times, including more than 60 completed homes, to expand sales. Under our policy of expanding the sales area, we also proceeded with operations in the Tokyo metropolitan region (Tokyo, Saitama, Chiba and Kanagawa) as a priority area.」

「In used-home sales, under our policy of strengthening the stock business, we worked to expand product inventory to increase sales, maintaining more than 100 homes in inventory at all times, including more than 60 completed homes, while also expanding our sales area.」

「In used-home sales, under our policy of strengthening the stock business, we worked to enhance sales capabilities by expanding our sales area and maintaining a strong inventory of properties, with more than 100 homes held in inventory at all times, including 60 completed homes.」

「“Business expansion through strengthening the stock business”」