FJ Next Holdings Co (8935) Q2 2025 earnings summary

Executive summary

• Achieved record-high net sales of ¥53.6 billion for the interim period, up 10.6% year-over-year, with net income at ¥2.8 billion, down 13.3% year-over-year.

• Strong sales of condominium units, with 1,574 units sold and four new buildings delivered, setting a new interim record; pre-owned condominium sales grew significantly, while newly built and construction segment performance declined.

• Maintained No. 1 ranking in the Tokyo metropolitan area for investment-type condominium supply for the fifth consecutive year.

• Received multiple industry awards for business excellence and customer satisfaction.

• Cash and cash equivalents increased by ¥3,229 million during the interim period, driven by proceeds from long-term loans and decreased time deposits.

Financial highlights

• Net sales: ¥53.6 billion (+10.6% YoY); Operating income: ¥4.1 billion (-15.3% YoY); Ordinary income: ¥4.1 billion (-15.5% YoY); Net income: ¥2.8 billion (-13.3% YoY); Net income per share: ¥85.48.

• Gross profit decreased by 7.2% year-over-year to ¥9,501 million due to higher cost of sales.

• Comprehensive income fell 15.9% year-over-year to ¥2,736 million.

• Equity ratio remained high at 70.8%, with low dependency on interest-bearing liabilities (16.1%).

• Total assets rose to ¥98,799 million (+¥3,518 million from March 31, 2024).

Outlook and guidance

• Full-year forecast: Net sales of ¥103 billion (+2.6% YoY), ordinary income of ¥7.5 billion (-20.5% YoY), and net income of ¥5 billion (-22.5% YoY), EPS ¥152.79.

• Plan to sell 2,900 condominium units for the year, including 193 units in the Gala Residence series.

• Dividend payout ratio projected at 31.4%, maintaining stable dividends.

• No revision to the previously announced forecast.