KATITAS (8919) Q4 2026 earnings summary

Executive summary

• Operating profit reached a record high, rising 28.5% year-over-year to ¥18,279 million, exceeding the revised plan by 2.7%.

• Net sales rose 17.2% year-over-year to ¥151,851 million, with gross profit up 15.2% year-over-year.

• Number of homes sold increased 13.7% year-over-year to 8,380, with purchases up 17.8% to 9,804, ensuring ample inventory.

• Adjusted gross profit margin improved by 0.7pt year-over-year, excluding the impact of consumption tax litigation.

• Investments in human capital included special performance-linked bonuses totaling ¥513 million.

Financial highlights

• Net income increased 30.6% year-over-year to ¥12,470 million; EPS rose to ¥159.43.

• Operating profit margin improved by 1.1pt year-over-year to 12.0%; ROE (LTM) increased by 3.0pt to 25.2%.

• Inventory real estates grew 32.0% year-over-year to ¥81,203 million.

• Cash and deposits at year-end were ¥18,766 million; equity-to-asset ratio stood at 56.9%.

• Net assets per share: ¥678.15 (up from ¥584.67).

Outlook and guidance

• FY2027 forecast: Net sales ¥177,400 million (+16.8%), operating profit ¥21,000 million (+14.9%), ordinary profit ¥20,000 million (+12.3%), profit attributable to owners ¥14,000 million (+12.3%).

• Dividend payout ratio to remain at 50% or more, with annual dividend forecast at ¥90 per share.

• Medium-term plan targets revised upward: over 10,000 homes sold, operating profit ¥23,000 million, aiming for ROE of at least 25%.