Iida Group Holdings (3291) Q2 2027 earnings summary

Executive summary

• H1 FY2027 revenue rose 12.0% YoY to ¥767,213 million; operating profit increased 34.2% to ¥53,054 million and profit attributable to owners rose 28.7% to ¥32,063 million.

• Operating profit reached 114.1% of plan, while revenue was slightly below plan; detached-house inventory management and area-specific land purchasing and sales remained central to core-business execution.

Financial highlights

• Gross profit increased 15.5% YoY to ¥141,603 million, with gross margin up 0.6pt to 18.5%.

• SG&A rose 5.9% to ¥88.9bn but fell to 11.6% of revenue from 12.3%; advertising costs declined 32.2% after EXPO 2025-related spending.

• Profit before tax rose 30.7% to ¥47,148 million; basic EPS increased to ¥116.03 from ¥90.18.

• Operating margin increased 1.1pt YoY to 6.9%; net margin attributable to owners rose 0.5pt to 4.2%.

Outlook and guidance

• FY2027 forecast unchanged: revenue ¥1,663,000 million, operating profit ¥103,600 million, profit before tax ¥95,500 million and profit attributable to owners ¥65,500 million; H1 achieved 98.6% of revenue and 51.2% of operating-profit targets.

• FY2027 dividends forecast at ¥92 per share, comprising ¥46 at Q2-end and ¥46 at FY-end.

• Detached-house inventory awaiting contract reached 28,668 units at September-end, equivalent to 8.6 months of construction and sufficient for the FY2027 plan.

• Inventory management will reflect local supply and demand as Japanese market inventory shows signs of recovery.