Worth reading
61In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
8.7
% (year-on-year change in interim operating revenue)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026–30 September 2026ConsolidatedJapanese GAAPNet Sales156,947million yenYear on year +8.7%Progress 49.3%
Operating profit24,598million yenYear on year +11.2%Progress 56.0%
Ordinary income23,581million yenYear on year +11.6%Progress 58.8%
Net income attributable to owners of the parent17,043million yenYear on year +7.9%
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¥168.90
Financial position at period-end
Total assets963,005million yen
of which net assets 360,179 million yenEquity ratio 36.5%vs. prior year-end -1.0pt
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+21,765
Investment-65,482
Financials+41,759
Net change-1,958
Stacked from zero: upward is an increase in cash, downward a decrease (in million yen).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 period12,744 million yen
Segment revenue
Transportation50,32330.3%+6.3%
Real Estate64,90739.1%+23.2%
Retail Business27,53416.6%-0.6%
Leisure and Services Business21,08712.7%-6.9%
Other Businesses2,2201.3%-29.5%
Segment profit
Transportation9,06136.5%+24.3%
Real Estate11,61446.7%+26.4%
Retail Business1,3615.5%+29.2%
Leisure and Services Business2,58610.4%-40.0%
Other Businesses2280.9%-30.9%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales318,100 million yen (YoY -4.3%)
Operating profit43,900 million yen (YoY -10.7%)
Ordinary income40,100 million yen (YoY -14.6%)
Profit attributable to owners of the parent30,000 million yen (YoY -10.7%)
Revision to Earnings ForecastOperating revenue 321,800 million yen → 318,100 million yen（-1.1%） / Operating profit 42,400 million yen → 43,900 million yen（+3.5%） / Ordinary income 38,100 million yen → 40,100 million yen（+5.2%） / Profit attributable to owners of the parent 29,000 million yen → 30,000 million yen（+3.4%）
Annual Dividend Forecast¥100 per share → ¥89 per share（-11.0%）
Payout ratioApproximately 30%
Shareholder Return PolicyDividends for each period will be determined based on performance, targeting a consolidated dividend payout ratio of approximately 30%, with the aim of increasing dividends through sustainable profit growth. The basic policy is to distribute profits in line with performance and to conduct flexible share repurchases.
Factors Behind Changes in Business Performance
Proactive sales activities contributed to performance. In the real estate business, sales of properties including Fine Residence Sumido-ekimae and the full-year contribution from Yodoyabashi Station One, which opened in the previous fiscal year, contributed to results, while new store openings contributed in the distribution business. On the other hand, the reversal of the previous year's Osaka-Kansai Expo and inbound sales, the Chinese government's request to refrain from travel, and the decline in revenue from the transition of the affiliated credit card business were factors behind the decreases in revenue and profit.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Changes in the scope of consolidationNo material changes (the number and names of companies added or excluded are Not disclosed)
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 1,270 million yen / Subsidy 410 million yen / Gain on Sale of Investment Securities 104 million yen / Proceeds received for construction contributions and other items 87 million yen / Other 365 million yen / Total 2,237 million yen / Extraordinary loss Reduction of Fixed Asset Cost 576 million yen / Loss on Retirement of Fixed Assets 223 million yen / Other 13 million yen / Total 812 million yen
Depreciation and amortization12,652 million yen
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End106,816,403
Treasury Shares at Period-End5,895,985
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026–30 September 2026 |
| Net Sales | 156,947 million yen (YoY +8.7%) |
| Operating profit | 24,598 million yen (YoY +11.2%) |
| Ordinary income | 23,581 million yen (YoY +11.6%) |
| Profit attributable to owners of the parent | 17,043 million yen (YoY +7.9%) |
| Net income per share | ¥168.90 |
| Equity ratio | End of the current fiscal period 36.5 / End of previous period 37.5 |
| Total assets | 963,005 million yen |
| Net assets | 360,179 million yen |
| Cash flows from operating activities | 21,765 million yen |
| Cash flows from investing activities | -65,482 million yen |
| Cash flows from financing activities | 41,759 million yen |
| Cash and cash equivalents at end of period | 12,744 million yen |
| Full-year earnings forecast | Net Sales 318,100 million yen (YoY -4.3%) / Operating profit 43,900 million yen (YoY -10.7%) / Ordinary income 40,100 million yen (YoY -14.6%) / Profit attributable to owners of the parent 30,000 million yen (YoY -10.7%) |
| Revision to Earnings Forecast | Operating revenue 321,800 million yen → 318,100 million yen（-1.1%） / Operating profit 42,400 million yen → 43,900 million yen（+3.5%） / Ordinary income 38,100 million yen → 40,100 million yen（+5.2%） / Profit attributable to owners of the parent 29,000 million yen → 30,000 million yen（+3.4%） |
| Annual Dividend Forecast | ¥100 per share → ¥89 per share（-11.0%） |
| Payout ratio | Approximately 30% |
| Shareholder Return Policy | Dividends for each period will be determined based on performance, targeting a consolidated dividend payout ratio of approximately 30%, with the aim of increasing dividends through sustainable profit growth. The basic policy is to distribute profits in line with performance and to conduct flexible share repurchases. |
| Segment revenue | Transportation 50,323 million yen (YoY +6.3%) / Real Estate 64,907 million yen (YoY +23.2%) / Retail Business 27,534 million yen (YoY -0.6%) / Leisure and Services Business 21,087 million yen (YoY -6.9%) / Other Businesses 2,220 million yen (YoY -29.5%) |
| Segment profit | Transportation 9,061 million yen (YoY +24.3%) / Real Estate 11,614 million yen (YoY +26.4%) / Retail Business 1,361 million yen (YoY +29.2%) / Leisure and Services Business 2,586 million yen (YoY -40.0%) / Other Businesses 228 million yen (YoY -30.9%) |
| Depreciation and amortization | 12,652 million yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 1,270 million yen / Subsidy 410 million yen / Gain on Sale of Investment Securities 104 million yen / Proceeds received for construction contributions and other items 87 million yen / Other 365 million yen / Total 2,237 million yen / Extraordinary loss Reduction of Fixed Asset Cost 576 million yen / Loss on Retirement of Fixed Assets 223 million yen / Other 13 million yen / Total 812 million yen |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None |
| Changes in the scope of consolidation | No material changes (the number and names of companies added or excluded are Not disclosed) |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 106,816,403 |
| Treasury Shares at Period-End | 5,895,985 |
| Factors Behind Changes in Business Performance | Proactive sales activities contributed to performance. In the real estate business, sales of properties including Fine Residence Sumido-ekimae and the full-year contribution from Yodoyabashi Station One, which opened in the previous fiscal year, contributed to results, while new store openings contributed in the distribution business. On the other hand, the reversal of the previous year's Osaka-Kansai Expo and inbound sales, the Chinese government's request to refrain from travel, and the decline in revenue from the transition of the affiliated credit card business were factors behind the decreases in revenue and profit. |
Items this document does not state (5)
Operating MarginRegional salesOrders received and order backlogImpairment lossMaterial subsequent events
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 interim period saw higher revenue and profit as a result of efforts to pursue proactive sales activities. The full-year forecast was revised to reflect an anticipated decline in revenue in the leisure and services businesses due to the Chinese government's request to refrain from travel, as well as the expected steady performance of the real estate sales business. The dividend was increased based on the policy of maintaining a consolidated dividend payout ratio of approximately 30% and the revised earnings forecast.
How to read this page
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