Financial Summary for the Fiscal Year Ending November 2025 [Japanese GAAP] (Consolidated)

Overview of Financial Results

For the consolidated fiscal year ending November 2025, net sales reached JPY 69,158,274 thousand (up 23.8% YoY), operating income was JPY 7,314,015 thousand (up 32.4% YoY), ordinary income was JPY 6,156,962 thousand (up 33.6% YoY), and net income attributable to owners of parent was JPY 4,184,941 thousand (up 34.7% YoY), all setting record highs. Particularly strong performance was seen in the renovation condominium business, with sales revenue of JPY 61,389,042 thousand (up 25.1% YoY) and operating income of JPY 6,823,659 thousand (up 40.9% YoY). The company achieved the operating income and net income targets of its medium-term management plan 'Find the Value 2026' one year ahead of schedule.

Financial Position and Cash Flow Status

Total assets stood at JPY 115,462,303 thousand (an increase of JPY 12,701,552 thousand YoY), and the equity ratio rose to 25.6% (up 0.8 points YoY). Cash flows from operating activities were an outflow of JPY 5,121,785 thousand, cash flows from investing activities were an outflow of JPY 378,410 thousand, and cash flows from financing activities resulted in an inflow of JPY 6,996,237 thousand. Consequently, the balance of cash and cash equivalents at the end of the period increased to JPY 3,400,884 thousand.

Dividends and Shareholder Returns

The annual dividend for the fiscal year ending November 2025 was 37.00 yen (up 14.00 yen YoY), with a payout ratio of 29.7%. For the fiscal year ending November 2026, an annual dividend of 45.00 yen (22.50 yen interim and 22.50 yen year-end) is planned, with an expected payout ratio of 30.0%. The company aims for a total shareholder return ratio of 40%, continuing a capital policy that balances growth investment and shareholder returns.

Future Outlook

For the consolidated fiscal year ending November 2026, the company forecasts net sales of JPY 84,715,200 thousand (up 22.5% YoY), operating income of JPY 9,298,400 thousand (up 27.1% YoY), ordinary income of JPY 7,494,100 thousand (up 21.7% YoY), and net income attributable to owners of parent of JPY 5,095,100 thousand (up 21.7% YoY), expecting growth in both revenue and profit. The medium-term management plan targets have been revised upward, newly setting net sales at JPY 84.7 billion, operating income at JPY 9.2 billion, and net income at JPY 5.0 billion.