Open House Group raises full-year forecast and dividend outlook as condominium business turns profitable, lifting net profit 15%

In its results for the third quarter covering October 2025 to June 2026, Open House Group reported net profit attributable to owners of the parent of ¥81.26 billion, an increase from the same period a year earlier. Net sales were ¥1,023.42 billion, operating profit was ¥120.959 billion and ordinary profit was ¥116.068 billion. Expanding demand for detached homes in central urban areas and the condominium business turning profitable lifted earnings.

Detached homes-related operations accounted for approximately 60% of net sales, with operating profit of ¥61.840 billion, while income-producing real estate posted operating profit of ¥16.370 billion and remained firm. In particular, although the condominium business is subject to seasonality in the timing of handovers, sales contracts progressed steadily. Operating profit changed from a loss of ¥280 million a year earlier to a profit of ¥7.566 billion, while net sales expanded 2.2 times year on year.

Based on its strong performance through the third quarter, the company consolidated its full-year consolidated earnings forecast for the fiscal year ending September 2026 into a single forecast and revised it upward. The forecast calls for net sales of ¥1,500 billion, operating profit of ¥180 billion, ordinary profit of ¥170 billion and net profit attributable to owners of the parent of ¥118.5 billion.

Shareholder returns were also increased, with the year-end dividend forecast raised to ¥105 and the full-year dividend forecast to ¥205, comprising an interim dividend of ¥100 and a year-end dividend of ¥105. In line with the view that resilient urban housing demand and persistently high condominium prices are providing a tailwind, expanded sales of the now-profitable condominium business and detached homes-related operations supported the improvement in earnings.