To Shareholders and Investors

Business Environment

In the market for condominiums in the Tokyo metropolitan area, the number of newly supplied units in the FY2025 (January to December) decreased by 4.5% YOY, to 21,962 units. This marks the fourth consecutive year of decline. Furthermore, in terms of purchasing demand, consumers continue to take a wait-and-see attitude amid high prices, with the average first-month contract rate for the same period being 63.9%, falling below 70% which is said to be a good indicator, for two consecutive years. (All figures are derived from a survey by Real Estate Economic Institute Co., Ltd.)

Net sales were ￥91,616 million, operating income amounted ￥7,516 million, and ordinary income was ￥7,475 million. Furthermore, net income attributable to shareholders of parental company totaled ￥5,077 million.
We expect net sales of ￥139,000 million for the fiscal year ending March 2026.
In earnings terms, the Group forecasts operating income of ￥13,500 million, ordinary income of ￥13,500 million and net income attributable to shareholders of parental company of ￥9,000 million, Expected contributing factors include high prices for construction materials and building plots in the real estate development business.