Sekisui House reported revenue of ¥1.9656 trillion for its interim results for fiscal 2026, down 2.5% year on year, while net income rose 23.1% to ¥125 billion. Its US single-family home business struggled as mortgage rates rose, prompting the company to cut its full-year target for homes delivered to 9,500. In Japan, sales of high-priced properties and other factors lifted profit.
Sekisui House reported revenue of ¥1.9656 trillion for the interim period of fiscal 2026, ending July 2026, down 2.5% year on year, while net income rose 23.1% to ¥125 billion. US home sales declined due to the impact of mortgage rates, while sales of high-priced properties and rental apartments in Japan supported profit.
Revenue from the US single-family home business fell 17.8% year on year, or ¥89.7 billion, to ¥413.5 billion. The full-year target for homes delivered was sharply cut from 11,500 to 9,500. The decline appears to have been driven by first-time homebuyers holding back on purchases.
In Japan, sales of luxury condominiums in a redevelopment district around JR Osaka Station and other projects contributed to results, while progress in selling rental apartment properties helped secure net income growth of more than 20%.
For the full year, the company cut its revenue forecast by ¥93 billion to ¥4.26 trillion, while raising its net income forecast by ¥6 billion to ¥224 billion. The revision to the international business forecast reflects shrinking demand for US single-family homes, while the Japan single-family home business is expected to be affected by higher material costs.