Financial Highlights

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In the fiscal year ended March 31, 2025, Operating revenue; 757.6 billion yen (up 3.1% YoY); operating profit; 118.9 billion yen (up 6.1% YoY); business profit ^*1,2; 125.1 billion yen (up 10.1% YoY); ordinary profit; 106.7 billion yen (up 8.6% YoY); and profit attributable to owners of parent; 74.8 billion yen (up 9.8% YoY).
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The forecast for the fiscal year ending March 31, 2026 are as follows: Operating revenue; 940.0 billion yen; business profit ^*1,2; 135.0 billion yen; operating profit; 122.0 billion yen; ordinary profit; 108.0 billion yen; and profit attributable to owners of parent; 75.0 billion yen.
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Business profit, operating profit, ordinary profit and profit attributable to owners of parent are expected to reach record high compared to FY25/3.

*1
Business profit = operating profit + share of profit (loss) of entities accounted for using equity method + amortization of intangible assets associated with corporate acquisitions
*2
“gain or loss on sale of equity interest in project companies(SPCs, etc. which are mainly engaged in holding/development of real estate) in the Overseas Business Unit” will be added to the existing definition of business profit.
The change to this definition applied from the fiscal year ended March 31, 2025.

on a consolidated basis

on a consolidated basis

on a consolidated basis

on a consolidated basis

	FY2020 (Apr. '20 -Mar. '21)	FY2021 (Apr. '21 -Mar. '22)	FY2022 (Apr. '22 -Mar. '23)	FY2023 (Apr. '23 -Mar. '24)	FY2024 (Apr. '24 -Mar. '25)
Business Results (million yen)
Operating Revenue	580,660	645,049	654,735	734,715	757,638
Operating Profit	76,333	91,210	99,598	112,114	118,958
Business Profit ^*1,2	76,448	92,765	105,172	113,665	125,104
Ordinary Profit	65,965	82,557	94,121	98,248	106,740
Profit Attributable to Owners of Parent	42,198	55,312	64,520	68,164	74,835
Financial Status (million yen)
Total Assets	1,921,306	2,040,506	2,110,693	2,251,456	2,686,569
Net Assets	586,350	621,398	655,737	692,440	751,439
Interest-bearing Debt	1,008,500	1,022,735	1,121,548	1,192,728	1,545,305
Shareholders' Equity Ratio (%)	30.4	30.3	31.0	30.7	27.9
Per Share Information (yen) ^*3
Basic Earnings per Share	46.51	61.56	73.05	78.46	86.77
Net Assets per Share	645.96	695.63	751.26	800.56	873.40
Cash Flows (million yen)
Net Cash Provided by (Used in) Operating Activities	(63,504)	52,793	(42,809)	70,878	(133,793)
Net Cash Provided by (Used in) Investing Activities	(55,789)	(46,277)	(62,896)	(83,638)	(203,364)
Net Cash Provided by (Used in) Financing Activities	112,376	(9,619)	65,675	39,921	318,459
Cash and Cash Equivalents at End of Period	70,624	67,793	27,770	53,811	35,894

*1
Business profit = operating profit + share of profit (loss) of entities accounted for using equity method + amortization of intangible assets associated with corporate acquisitions + gain or loss on sale of equity interest in project companies in the Overseas Business Unit
*2
“Gain or loss on sale of equity interest in project companies(SPCs, etc. which are mainly engaged in holding/development of real estate) in the Overseas Business Unit” will be added to the existing definition of business profit. The change to this definition will be applied from the fiscal year ending March 31, 2025
*3
Basic earnings per share and net asset value per share have been adjusted retroactively (pre-split dividends divided by 5) to reflect the 5-for-1 stock split effective April 1, 2025.