Financial Summary for the First Quarter of the Fiscal Year Ending September 2026 [Japanese GAAP] (Consolidated)

Overview of Business Performance

In the first quarter of the fiscal year ending September 2026, consolidated net sales amounted to ¥14,997 million (46.4% decrease YoY). Sales in the lease fund business increased to ¥9,020 million (30.6% increase YoY), while domestic real estate fund business sales declined significantly to ¥5,800 million (69.6% decrease YoY) and overseas real estate fund business sales dropped sharply to ¥15 million (99.2% decrease YoY). Selling, general and administrative expenses were ¥3,280 million (42.6% increase YoY), mainly due to higher personnel costs. Operating income was ¥6,362 million (17.2% decrease YoY), ordinary income ¥6,248 million (21.5% decrease YoY), and net income attributable to owners of parent for the quarter was ¥4,228 million (22.7% decrease YoY).

Financial Position and Future Outlook

Total assets increased by ¥36,190 million to ¥163,048 million compared to the previous fiscal year-end, and total liabilities rose by ¥37,221 million to ¥106,892 million, resulting in a decline in the equity ratio to 34.3%. This was mainly due to increased borrowings and bonds. Following the December 2025 tax reform outline which significantly reduces the tax benefits of real estate securitization products, sales were temporarily suspended, and cancellations and refunds were processed. Sales resumed from January 2026, with strong investment demand for prime central locations. There is no change to the full-year earnings guidance, and efforts continue to focus on structuring large-scale prime location properties and strengthening investment products.