Ichigo (2337) FY2026 February Q3 Financial Summary

Performance Overview

In the consolidated cumulative Q3 period of FY2026 ending February, net sales were ¥73,017 million (27.6% YoY increase), operating income ¥15,144 million (46.5% YoY increase), business profit ¥19,031 million (25.4% YoY increase), ordinary income ¥11,943 million (39.1% YoY increase), and net income attributable to owners of parent for the quarter ¥10,525 million (18.3% YoY increase). Steady growth in rental revenues from stock income and electricity sales revenue contributed, along with performance fees from sales of Ichigo Owners properties and asset management private fund formations. By segment, hotel business profits surged 102.7% YoY, while Shinchiku business profits declined due to decreased gains on fixed asset sales despite improved occupancy rates and rental income. The clean energy business reported slight net sales growth and stable profits.

Capital Policy and Shareholder Returns

On January 14, 2026, the company expanded its treasury stock acquisition framework from ¥5 billion to ¥10 billion, with total treasury stock acquisitions and commitments for the current period reaching ¥15 billion. Additionally, cancellation of 30 million shares of treasury stock was decided to improve EPS. The dividend policy adopts a progressive dividend approach, with a dividend forecast of ¥11.5 for FY2026 February period, marking the fourth consecutive increase. The company is also focusing on sustainable growth and enhancing shareholder value through financing of ¥21.4 billion via ESG loans and promotion of environmentally conscious clean energy businesses.