Sekisui House (1928) Q3 2026 earnings summary

Executive summary

• Net sales reached ¥2,935.7 billion, up 2.5% year-over-year, driven by domestic growth and the consolidation of MDC Holdings (now SEKISUI HOUSE U.S., Inc.).

• Operating profit declined 9.3% year-over-year to ¥210.8 billion, mainly due to weaker U.S. homebuilding sales and acquisition-related expenses.

• Profit attributable to owners of parent fell 10.8% year-over-year to ¥147.0 billion.

• The business environment was marked by global economic uncertainty, delayed consumer sentiment recovery in Japan, and mixed housing market trends.

• The company advanced its Sixth Mid-Term Management Plan, focusing on stable growth in Japan and proactive growth overseas.

Financial highlights

• Gross profit increased 3.8% year-over-year to ¥576.0 billion, with a gross profit margin of 19.6%.

• SG&A expenses rose 13.4% year-over-year to ¥365.1 billion.

• EPS decreased from ¥254.36 to ¥226.89 year-over-year.

• Interest-bearing debts increased by ¥98.7 billion to ¥1,976.1 billion; D/E ratio rose to 1.03.

• Free cash flow improved significantly, narrowing the deficit to ¥156.9 billion from ¥655.8 billion year-over-year.

Outlook and guidance

• Full-year FY2025 net sales forecast is ¥4,331.0 billion, up 6.7% year-over-year.

• Operating profit is projected at ¥340.0 billion (+2.6% YoY), and profit attributable to owners of parent at ¥232.0 billion (+6.6% YoY).

• Annual dividend per share is expected to rise to ¥144.00.

• No changes to previously announced earnings forecasts.