Worth reading
71In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
2.8
Year-on-year decrease in net sales (%)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsSecond quarter (interim period) of the fiscal year ending December 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥32,923 million-2.8%
Operating profit¥2,722 million+1.9%
Ordinary income¥2,752 million+2.4%
Net income¥1,866 million+4.4%
Selling, general and administrative expenses¥1,460 million
Gross Profit Margin
Rate12.7%
Year-on-year change (points)At approximately the same level as the previous year
Operating profit margin
Rate8.3%
Year-on-year change (points)Increased by 0.4 percentage points
Results for the three months of the current quarter
Net Sales
¥14,681 million
Operating profit
¥865 million
Ordinary income
¥889 million
Profit attributable to owners of the parent
¥578 million
Operating profit margin
5.9 %
Full-year earnings forecast
Net Sales
¥72,000 million
Operating profit
¥5,040 million
Ordinary income
¥5,040 million
Profit attributable to owners of the parent
¥3,300 million
Earnings per share
¥134.57
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Profit at each stage is tracking above plan. Revenue fell below the initial plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Decrease in revenue¥-946 million
- Decrease in outsourcing expenses¥388 million
- Decrease in labor costs¥514 million
- Increase in other costs¥-75 million
- Decrease in selling, general and administrative expenses¥170 million
New initiatives
- Strengthen proposal capabilities by participating from the planning stage in large-scale mixed-use development and urban development projects
- Strengthen the operational foundation for handling large-scale and highly complex projects
- Recruit and develop personnel to support growth in the order backlog
Key KPIsA metric the company considers important as a management benchmark.
- Quarterly orders received¥12,388 millionYear on year against the same period last year-8.3%
- Quarterly order backlog¥17,434 millionYear on year against the same period last year-5.5%
- Recurring customer revenue ratioMore than 80%
- Direct-award ratioOver 75%
- Number of customers1,027 companies
- Number of projects11,695 Engagements
Segment results
Shopping Complexes and General Merchandise Stores
Net Sales¥5,805 million
Year on year against the same period last year-20.9%
Food Supermarkets and Convenience Stores
Net Sales¥3,588 million
Year on year against the same period last year-3.3%
Specialty Stores
Net Sales¥10,769 million
Year on year against the same period last year+8.5%
Restaurants
Net Sales¥3,941 million
Year on year against the same period last year-10.1%
Services and Other
Net Sales¥8,817 million
Year on year against the same period last year+3.5%
Medium-term management plan targets
TargetNet increase of 200 employees over 3 years
Comparison with actual resultsThe number of employees, 990 as of 1 July 2026, is shown in a chart.
Orders received and order backlog
Orders received
¥12,388 million
Order backlog
¥17,434 million
Number of stores and locations
Number at period-end12 domestic locations (another page states that there are 13 business locations nationwide)
Number of employees
Number of Employees1,053 people consolidated, as of the end of June 2026
Changes during the period and hiring planThe medium-term management plan calls for a net increase of 200 employees over 3 years. The number of new graduates hired in 2026 was 85, and the number of mid-career hires was 57.
Annual Dividend
Annual dividend per share¥72
Interim¥36
End of period¥36
Payout ratio
Rate53.5 %
Acquisition of treasury shares
The company states that it will continue to consider improving capital efficiency, including the acquisition of treasury shares. The amount, number of shares, and period for the acquisition program are not disclosed.| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Second quarter (interim period) of the fiscal year ending December 2026 |
| Net Sales | ¥32,923 million (YoY -2.8%) |
| Operating profit | ¥2,722 million (YoY +1.9%) |
| Ordinary income | ¥2,752 million (YoY +2.4%) |
| Net income | ¥1,866 million (YoY +4.4%) |
| Gross Profit Margin | Rate 12.7% / Year-on-year change (points) At approximately the same level as the previous year |
| Operating profit margin | Rate 8.3% / Year-on-year change (points) Increased by 0.4 percentage points |
| Selling, general and administrative expenses | ¥1,460 million |
| Results for the three months of the current quarter | Net Sales ¥14,681 million / Operating profit ¥865 million / Ordinary income ¥889 million / Profit attributable to owners of the parent ¥578 million / Operating profit margin 5.9 % |
| Full-year earnings forecast | Net Sales ¥72,000 million / Operating profit ¥5,040 million / Ordinary income ¥5,040 million / Profit attributable to owners of the parent ¥3,300 million / Earnings per share ¥134.57 |
| Self-assessment against the plan | Profit at each stage is tracking above plan. Revenue fell below the initial plan. |
| Segment results | Shopping Complexes and General Merchandise Stores Net Sales ¥5,805 million / yoy_pct ¥-20.9 million / Food Supermarkets and Convenience Stores Net Sales ¥3,588 million / yoy_pct ¥-3.3 million / Specialty Stores Net Sales ¥10,769 million / yoy_pct ¥8.5 million / Restaurants Net Sales ¥3,941 million / yoy_pct ¥-10.1 million / Services and Other Net Sales ¥8,817 million / yoy_pct ¥3.5 million |
| Breakdown of Factors Affecting the Change | Factors Decrease in revenue / Amount ¥-946 million, Factors Decrease in outsourcing expenses / Amount ¥388 million, Factors Decrease in labor costs / Amount ¥514 million, Factors Increase in other costs / Amount ¥-75 million, Factors Decrease in selling, general and administrative expenses / Amount ¥170 million |
| Key KPIs | Indicator name Quarterly orders received / Value ¥12,388 million / Year on year against the same period last year ¥-8.3 million, Indicator name Quarterly order backlog / Value ¥17,434 million / Year on year against the same period last year ¥-5.5 million, Indicator name Recurring customer revenue ratio / Value More than 80% / Year on year against the same period last year Not disclosed, Indicator name Direct-award ratio / Value Over 75% / Year on year against the same period last year Not disclosed, Indicator name Number of customers / Value 1,027 companies / Year on year against the same period last year Not disclosed, Indicator name Number of projects / Value 11,695 Engagements / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Number at period-end 12 domestic locations (another page states that there are 13 business locations nationwide) / Number of store openings and closures during the period Not disclosed |
| Number of employees | Number of Employees 1,053 people (consolidated, as of the end of June 2026) / Changes during the period and hiring plan The medium-term management plan calls for a net increase of 200 employees over 3 years. The number of new graduates hired in 2026 was 85, and the number of mid-career hires was 57. |
| Medium-term management plan targets | Target Net increase of 200 employees over 3 years / Target fiscal year Not disclosed / Comparison with actual results The number of employees, 990 as of 1 July 2026, is shown in a chart. |
| Annual Dividend | Annual dividend per share ¥72 / Interim ¥36 / End of period ¥36 |
| Payout ratio | Rate 53.5 % |
| Acquisition of treasury shares | The company states that it will continue to consider improving capital efficiency, including the acquisition of treasury shares. The amount, number of shares, and period for the acquisition program are not disclosed. |
| Orders received and order backlog | Orders received ¥12,388 million / Order backlog ¥17,434 million |
| New initiatives | Strengthen proposal capabilities by participating from the planning stage in large-scale mixed-use development and urban development projects, Strengthen the operational foundation for handling large-scale and highly complex projects, Recruit and develop personnel to support growth in the order backlog |
Items this document does not state (8)
Progress against full-year forecastUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookFinancial targetsCapital expendituresMarket Size / ShareKey points of the Q&A
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.Revenue declined due to decreases in the shopping mall and general merchandise store sectors, while profitability improved as a result of more accurate proposals for individual projects and stronger project execution capabilities. Selling, general and administrative expenses were below the previous year's level due to lower labor costs associated with recording development department expenses as costs.
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