Consolidated Financial Results Presentation for the First Quarter of the Fiscal Year Ending September 2026 (October 2025 – December 2025)

Overview of Financial Performance

In the first quarter of the fiscal year ending September 2026, the Lease Fund Business performed strongly with net sales of 9.02 billion yen (YoY +30.6%) driven by increased investment sales and revenue recognition from projects for U.S. investors. In contrast, the Domestic Real Estate Fund Business experienced a significant decline in net sales to 5.80 billion yen (YoY -69.6%) due to a temporary suspension of sales following tax law revisions. The Overseas Real Estate Fund Business also saw a decrease, with net sales of 0.01 billion yen (YoY -99.2%), but continues efforts toward fund formation and sales. Operating income was 6.36 billion yen (YoY -17.2%), and net income attributable to owners of parent was 4.22 billion yen (YoY -22.7%).

Segment Trends and Future Outlook

The Lease Fund Business remains steady, with a progress rate of 32.2% against the full-year forecast. Although the Domestic Real Estate Fund Business saw a significant decline in net sales due to the sales suspension, the decrease in gross profit was narrowed. Going forward, the company aims to expand distribution channels by enhancing investment products targeting large-scale, prime location properties and by focusing on inflation hedging and diversified investments. The Overseas Real Estate Fund Business plans to improve convenience by expanding online transactions and promoting digital transformation (DX). In October 2025, a new sales office was opened in Shizuoka, expanding the sales network to 18 locations.