To Shareholders and Investors

Business Environment

In the condominium market in the Tokyo metropolitan area, amid soaring prices due to increases in material costs and land acquisition costs, the number of units supplied of new condominiums in FY2025 (April 2025 to March 2026) decreased 2.6% YOY to 21,659 units, marking a new record low since FY1973 for the second consecutive year. 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 62.9%, falling below 70% which is said to be a good indicator, for three consecutive years. (All figures are derived from a survey by Real Estate Economic Institute Co., Ltd.)

Net sales were ￥142,374 million, operating income amounted ￥14,402 million, and ordinary income was ￥14,356 million. Furthermore, net income attributable to shareholders of parental company totaled ￥10,010 million.
We expect net sales of ￥152,000 million for the fiscal year ending March 2027.
In earnings terms, the Group forecasts operating income of ￥15,000 million, ordinary income of ￥15,000 million and net income attributable to shareholders of parental company of ￥10,500 million.