Worth reading
67In 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
14.4
Year-on-year decrease in revenue (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,661 million-14.4%
Operating profit¥55 million+18.8%
Ordinary income¥62 million+46.4%
Net income¥18 million-21.2%
Operating profit margin3.3 %
Results for the three months of the current quarter
Net Sales
¥1,661 million
Operating profit
¥55 million
Ordinary income
¥62 million
Quarterly net income
¥18 million
Full-year earnings forecast
Operating profit
¥200 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Operating profit27.7 %
Ordinary income31.3 %
Quarterly equalized basis25 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress is on track against the full-year forecastBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Real EstateLower revenue due to the timing shift of property sale transactions; higher profit from stable rental management revenue and improved spreads (¥10 million year-on-year increase in operating income)
Hotel and Regional Revitalization BusinessTemporary costs associated with the transfer of the Kurashiki hotel (¥7 million year-on-year decrease in operating income); Narita Gateway Hotel remained solid
InvestmentUpfront costs associated with fund formation and operating the Singapore office (¥4 million year-on-year decrease in operating income)
Corporate Expenses¥10 million improvement
New initiatives
- Acquisition of Hotel Arrowle (Kaga)
- Partner hotel membership agreement with Tokyu Hotels & Resorts
- Launch of operations for Omusubi Venture Fund
- Strengthening expansion in Asia through the Singapore office
- Full-scale launch of 日本橋TAKUMI and acquisition of a construction business license
- Opening of Narita Select Journey
- Launch of a customer referral partnership with TKP
Key KPIsA metric the company considers important as a management benchmark.
- Equity ratio51.2 %Year on year against the same period last yearUp 0.3 percentage points from 50.9% at the end of the previous fiscal year
- Cash and deposits¥2,842 millionYear on year against the same period last yearUp ¥830 million from the end of the previous fiscal year
- Number of managed units under master lease4,155 unitsYear on year against the same period last yearDeclining trend
- Master-lease occupancy rate98.8 %
- Narita Gateway Hotel ADR¥7,582Year on year against the same period last year+6.6%
- Narita Gateway Hotel OCC81.5 %Year on year against the same period last year+4.1%
- Narita Gateway Hotel RevPAR¥6,194Year on year against the same period last year+10.7%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Narita Gateway Hotel
ADR
¥7,582+6.6%
OCC
81.5 %
yoy_change_pt4.1
RevPAR
¥6,194+10.7%
Segment results
Real Estate
Net Sales
¥1,388 million-13.8%
Operating profit
¥92 million+12.4%
Hotel and Regional Revitalization Business
Net Sales
¥266 million-18.6%
Operating profit
¥22 million-25.2%
Investment
Net Sales
¥4 million
Operating profit
¥-9 million
Financial targets
Actual equity ratio of 51.2% (up 0.3 percentage points from 50.9% at the end of the previous fiscal year). Other financial targets are Not disclosedNumber of stores and locations
Three locations: Narita, Kaga and Kumamoto. Kurashiki Royal Art Hotel was transferred during the period, and ホテル・アローレ was acquired in May 2026. Other store and location counts, openings and closures are Not disclosedAnnual Dividend
¥5 per share
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥1,661 million (YoY -14.4%) |
| Operating profit | ¥55 million (YoY +18.8%) |
| Ordinary income | ¥62 million (YoY +46.4%) |
| Net income | ¥18 million (YoY -21.2%) |
| Operating profit margin | 3.3 % |
| Results for the three months of the current quarter | Net Sales ¥1,661 million / Operating profit ¥55 million / Ordinary income ¥62 million / Quarterly net income ¥18 million |
| Full-year earnings forecast | Net Sales Not disclosed / Operating profit ¥200 million / Ordinary income Not disclosed / Net income Not disclosed |
| Progress against full-year forecast | Operating profit 27.7 % / Ordinary income 31.3 % / Quarterly equalized basis 25 % |
| Self-assessment against the plan | Progress is on track against the full-year forecast |
| Segment results | Real Estate Net Sales ¥1,388 million (YoY -13.8%) / Operating profit ¥92 million (YoY +12.4%) / Hotel and Regional Revitalization Business Net Sales ¥266 million (YoY -18.6%) / Operating profit ¥22 million (YoY -25.2%) / Investment Net Sales ¥4 million / Operating profit ¥-9 million |
| Breakdown of Factors Affecting the Change | Real Estate Lower revenue due to the timing shift of property sale transactions; higher profit from stable rental management revenue and improved spreads (¥10 million year-on-year increase in operating income) / Hotel and Regional Revitalization Business Temporary costs associated with the transfer of the Kurashiki hotel (¥7 million year-on-year decrease in operating income); Narita Gateway Hotel remained solid / Investment Upfront costs associated with fund formation and operating the Singapore office (¥4 million year-on-year decrease in operating income) / Corporate Expenses ¥10 million improvement |
| Key KPIs | Indicator name Equity ratio / Value 51.2 % / Year on year against the same period last year Up 0.3 percentage points from 50.9% at the end of the previous fiscal year, Indicator name Cash and deposits / Value ¥2,842 million / Year on year against the same period last year Up ¥830 million from the end of the previous fiscal year, Indicator name Number of managed units under master lease / Value 4,155 units / Year on year against the same period last year Declining trend, Indicator name Master-lease occupancy rate / Value 98.8 % / Year on year against the same period last year Not disclosed, Indicator name Narita Gateway Hotel ADR / Value ¥7,582 / Year on year against the same period last year ¥6.56, Indicator name Narita Gateway Hotel OCC / Value 81.5 % / Year on year against the same period last year 4.1 %, Indicator name Narita Gateway Hotel RevPAR / Value ¥6,194 / Year on year against the same period last year ¥10.7 |
| Unit price and quantity metrics | Narita Gateway Hotel ADR ¥7,582 (YoY +6.6%) / OCC 81.5 % / RevPAR ¥6,194 (YoY +10.7%) |
| Number of stores and locations | Three locations: Narita, Kaga and Kumamoto. Kurashiki Royal Art Hotel was transferred during the period, and ホテル・アローレ was acquired in May 2026. Other store and location counts, openings and closures are Not disclosed |
| Financial targets | Actual equity ratio of 51.2% (up 0.3 percentage points from 50.9% at the end of the previous fiscal year). Other financial targets are Not disclosed |
| Annual Dividend | ¥5 per share |
| New initiatives | Acquisition of Hotel Arrowle (Kaga), Partner hotel membership agreement with Tokyu Hotels & Resorts, Launch of operations for Omusubi Venture Fund, Strengthening expansion in Asia through the Singapore office, Full-scale launch of 日本橋TAKUMI and acquisition of a construction business license, Opening of Narita Select Journey, Launch of a customer referral partnership with TKP |
Items this document does not state (12)
Gross Profit MarginSelling, general and administrative expensesNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket 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.Transfer of Kurashiki Royal Art Hotel, greater focus on the real estate trading business, a shift in the revenue mix and company-wide cost reductions. In the Hotel and Regional Revitalization Business, temporary costs were incurred in connection with the transfer of the Kurashiki hotel. In the Investment Business, upfront costs associated with fund formation and operating the Singapore office were also cited.
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.
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