FJ Next Holdings Co (8935) Q2 2027 earnings summary

Executive summary

• Record H1 FY27 results: net sales ¥71,264m, operating income ¥8,040m, ordinary income ¥8,023m and parent-attributable net income ¥5,504m.

• Condominium deliveries and sales supported growth, led by real estate development and construction; management profit declined and Japanese inns remained loss-making.

Financial highlights

• H1 net sales rose 12.4% YoY to ¥71,264m; gross profit increased 25.1% to ¥14,413m from ¥11,525m.

• Operating income rose 48.3% to ¥8,040m, ordinary income 48.8% to ¥8,023m and parent-attributable net income 49.4% to ¥5,504m.

• Cost of sales increased 9.6% to ¥56,850m and SG&A rose 4.4% to ¥6,373m.

• Cash and cash equivalents ended H1 at ¥21,082m, down ¥1,608m from FY26 year-end; operating cash flow was ¥114m versus an outflow of ¥1,169m a year earlier.

Outlook and guidance

• FY27 guidance unchanged: net sales ¥152,000m, operating income ¥15,000m, ordinary income ¥15,000m, net income ¥10,500m and EPS ¥320.50.

• Annual condominium sales target is 4,000 units, including 343 Gala Residence units; H1 progress reached 46.9% of sales and 53.5% of ordinary income plans.

• FY27 dividend forecast remains ¥80 per share, split ¥40 interim and ¥40 year-end; EPS forecast reflects a review of average shares after treasury stock was transferred as restricted-share remuneration.