HASEKO (1808) Q2 2026 earnings summary

Executive summary

• Net sales for 1H FY2025 rose 6.6% year-over-year to ¥595.5 billion, driven by strong construction progress and favorable real estate deliveries, exceeding initial forecasts.

• Operating profit increased 16.7% to ¥41.3 billion, ordinary profit rose 8.5% to ¥39.3 billion, and profit attributable to owners of parent grew 25.0% to ¥24.2 billion year-over-year.

• Orders received (non-consolidated) for 1H FY2025 were ¥306.2 billion, slightly down 0.3% year-over-year but 13.4% above interim forecast.

• Interim dividend per share set at ¥45, with annual dividend forecast raised to ¥90.

• Improved profit ratio in completed construction contracts contributed to higher profitability.

Financial highlights

• Gross profit increased 12.5% year-over-year to ¥83.9 billion, with operating profit up 16.7% to ¥41.3 billion.

• Basic earnings per share for the period was ¥89.32, up from ¥70.97 year-over-year.

• Comprehensive income decreased to ¥19.4 billion from ¥30.8 billion year-over-year, mainly due to negative foreign currency translation adjustments.

• Free cash flow turned positive at ¥23.2 billion, up ¥93.0 billion from the previous year.

• Cash and cash equivalents at period-end increased to ¥245.5 billion, up ¥9.7 billion from the previous fiscal year-end.

Outlook and guidance

• Full-year consolidated net sales forecast revised upward to ¥1,240.0 billion, ordinary profit to ¥90.0 billion, and profit attributable to owners of parent to ¥58.0 billion.

• Full-year operating profit projected at ¥97.0 billion (up 14.5%).

• Orders received (non-consolidated) full-year forecast raised to ¥700.0 billion, reflecting strong private sector condominium demand and semi-annual results.

• EPS forecast increased to ¥216.85, with ROE expected at 10.8%.

• Annual dividend forecast raised to ¥90.00 per share.