De Life Corporation 2026 September Interim (Second Quarter) Financial Results Explanation Material

Overview of Business Performance

Consolidated ordinary income for the second quarter of fiscal 2026 was 509 million yen, a decrease of 75.3% YoY; net income attributable to owners of the parent was 302 million yen, down 78.4% YoY. The total project scale of acquired projects was 41.9 billion yen, a decrease of 12.7% YoY. The equity ratio decreased by 11.5 points from the end of the previous fiscal year to 47.8%. EPS was 6.35 yen, down 80.3% YoY. The sales in the real estate business segment were 11,999 million yen, a 50.5% decrease, with segment profit at 1,048 million yen, down 59.2%.

Financial Status and Business Activities

Cash and deposits amount to 20,548 million yen, and interest-bearing debt is 32,797 million yen. The company is focusing on property acquisition activities, with the balance of real estate for sale increasing steadily. The effects of the public offering of new shares have expanded debt capacity, ensuring acquisition flexibility. The inventory asset balance increased by 153.2% from the end of the previous fiscal year to 42,539 million yen, reaching record-high levels for purchase pace. Acquisition activities mainly involve large, well-located real estate, with 23 ongoing development projects. Revenue-producing real estate projects are ongoing for 53 properties, many within the 23 wards of Tokyo.