Worth reading
44Recurring
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
20
¥100 million (2028 operating profit target)Wording
Conditional
How definitive the wording is.Contents of this document
Summary of Q&ASecond quarter of the fiscal year ending December 20266 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net SalesAmount not stated+17.1%
Operating profit¥9.4 100 million +70.2%first half
Selling, general and administrative expensesAmount not stated-6.6%
Full-year earnings forecastThe full-year earnings forecast for the fiscal year ending December 2026 is unchanged from the announcement made on 7 August 2026. Forecast figures by line item: Not disclosed
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Questions Next fiscal year's forecast relative to the ¥2 billion operating profit target for 2028 / Answer The full-year forecast for the fiscal year ending December 2026 will remain unchanged, and the forecast for the next fiscal year is scheduled to be announced when the full-year results are released. The company will invest in expanding its subleasing business and in AI and systems development.
- Questions The Benefit Company Housing model and the environment for its adoption / Answer A system under which companies switch part of their housing allowance to the provision of company housing in kind. More companies are considering adopting it amid growing interest in employee benefits.
- Questions Profitability of services for real estate companies / Answer The company aims to improve profitability through an increase in referrals, expanded contracts with major corporate clients, reciprocal customer referrals and spillover into peripheral services.
- Questions Revenue growth in services for corporate clients / Answer The company will prioritize expanding the number of contracted companies and subleased units, building up a recurring revenue base.
- Questions The impact of rising vacancies and rents due to population decline / Answer The business is less directly affected because it does not own properties and terminates contracts as tenants move out. Transaction volume and demand for Benefit Company Housing are expected to grow.
- Questions Reasons for the increase in the number of employees / Answer The increase was driven by hiring engineers and others to use AI, renew the company's proprietary systems and automate operations. Operating expenses are being controlled through improved operating efficiency.
- Questions Competitive advantages over other companies / Answer Strengths include one-stop services ranging from finding a home to utilities, moving and insurance, subleasing capabilities, a broad network and reciprocal customer referrals.
New initiatives
- Expansion of the adoption of Benefit Company Housing
- Partnerships with employee benefits service providers and others
- Renewal of proprietary systems and automation of operations using AI
- Expansion of the subleasing business
- Housing support for foreign workers
Key KPIsA metric the company considers important as a management benchmark.
- Transaction Value¥93 100 millionYear on year against the same period last year+21.1%
- Monthly component of the subleasing service¥68 100 million
- Units under management27,358 units
- Potential units31,087 units
- Newly acquired units3,128 unitsYear on year against the same period last year+14.2%
Segment results
- Corporate ServicesNet SalesUp 33.1% year on year
- Services for Real Estate CompaniesGross profitUp 2.0% year on yearNet SalesBelow the previous year (impact of changing from gross to net revenue recognition)
Medium-term management plan targets
Target valueOperating profit of ¥2 billion
Target fiscal year2028
Comparison with actual resultsOperating profit of ¥940 million in the first half of the fiscal year ending December 2026, compared with full-year operating profit of ¥758 million in the previous fiscal year
Number of employees
Increased, but the number of employees is Not disclosed. The company attributed the increase to mid-career hiring of engineers and other factors.| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | 非開示 (YoY +17.1%) |
| Operating profit | ¥9.4 100 million (first half) (YoY +70.2%) |
| Selling, general and administrative expenses | 非開示 (YoY -6.6%) |
| Full-year earnings forecast | The full-year earnings forecast for the fiscal year ending December 2026 is unchanged from the announcement made on 7 August 2026. Forecast figures by line item: Not disclosed |
| Segment results | Segment Corporate Services / Net Sales Up 33.1% year on year / Profit Not disclosed, Segment Services for Real Estate Companies / Gross profit Up 2.0% year on year / Net Sales Below the previous year (impact of changing from gross to net revenue recognition) |
| Key KPIs | Indicator name Transaction Value / Value ¥93 100 million / Year on year against the same period last year ¥21.1 100 million, Indicator name Monthly component of the subleasing service / Value ¥68 100 million / Year on year against the same period last year Not disclosed, Indicator name Units under management / Value 27,358 units / Year on year against the same period last year Not disclosed, Indicator name Potential units / Value 31,087 units / Year on year against the same period last year Not disclosed, Indicator name Newly acquired units / Value 3,128 units / Year on year against the same period last year 14.2 units |
| Number of employees | Increased, but the number of employees is Not disclosed. The company attributed the increase to mid-career hiring of engineers and other factors. |
| Medium-term management plan targets | Target value Operating profit of ¥2 billion / Target fiscal year 2028 / Comparison with actual results Operating profit of ¥940 million in the first half of the fiscal year ending December 2026, compared with full-year operating profit of ¥758 million in the previous fiscal year |
| Key points of the Q&A | Questions Next fiscal year's forecast relative to the ¥2 billion operating profit target for 2028 / Answer The full-year forecast for the fiscal year ending December 2026 will remain unchanged, and the forecast for the next fiscal year is scheduled to be announced when the full-year results are released. The company will invest in expanding its subleasing business and in AI and systems development., Questions The Benefit Company Housing model and the environment for its adoption / Answer A system under which companies switch part of their housing allowance to the provision of company housing in kind. More companies are considering adopting it amid growing interest in employee benefits., Questions Profitability of services for real estate companies / Answer The company aims to improve profitability through an increase in referrals, expanded contracts with major corporate clients, reciprocal customer referrals and spillover into peripheral services., Questions Revenue growth in services for corporate clients / Answer The company will prioritize expanding the number of contracted companies and subleased units, building up a recurring revenue base., Questions The impact of rising vacancies and rents due to population decline / Answer The business is less directly affected because it does not own properties and terminates contracts as tenants move out. Transaction volume and demand for Benefit Company Housing are expected to grow., Questions Reasons for the increase in the number of employees / Answer The increase was driven by hiring engineers and others to use AI, renew the company's proprietary systems and automate operations. Operating expenses are being controlled through improved operating efficiency., Questions Competitive advantages over other companies / Answer Strengths include one-stop services ranging from finding a home to utilities, moving and insurance, subleasing capabilities, a broad network and reciprocal customer referrals. |
| New initiatives | Expansion of the adoption of Benefit Company Housing, Partnerships with employee benefits service providers and others, Renewal of proprietary systems and automation of operations using AI, Expansion of the subleasing business, Housing support for foreign workers |
Items this document does not state (19)
Ordinary incomeNet incomeGross Profit MarginOperating profit marginResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / Share
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 company cited growth in the number of corporate clients under contract and the number of subleased units, increases in users and transactions, and a stronger development structure and improved operating efficiency through the use of AI. It also explained that the increase in operating profit was due in part to its ability to expand revenue while controlling selling, general and administrative expenses.
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.