Sekisui House (1928) Q4 2025 earnings summary

Executive summary

• Projecting record-high net sales and operating profit for FY2025, driven by stable growth in Japan and U.S. expansion, notably with the MDC acquisition.

• Strategic focus on technology transfer, ESG leadership, and strengthening core competencies in construction, customer base, and after-sales services.

• Sixth Mid-Term Management Plan targets stable domestic growth and proactive overseas expansion, leveraging human capital, DX, and technical capabilities.

• U.S. market contributed significantly, with overseas business sales up 150.2% year-over-year.

• Group companies reorganized to enhance business focus and specialization.

Financial highlights

• FY2024 net sales: ¥4,058.5bn (+30.6% YoY); operating profit: ¥331.3bn (+22.3% YoY); net income attributable to owners: ¥217.7bn (+7.6% YoY).

• FY2025 plan: net sales ¥4,500.0bn (+10.9% YoY), operating profit ¥362.0bn (+9.2% YoY), net income ¥232.0bn (+6.6% YoY).

• EPS for FY2024: ¥335.95; FY2025 plan: ¥357.97.

• Dividend per share increased to ¥135 in FY2024 and planned to rise to ¥144 in FY2025, marking 14 consecutive years of increases.

• Total assets increased to ¥4,808.8bn, mainly due to the MDC acquisition.

Outlook and guidance

• FY2025 guidance anticipates continued growth in both domestic and overseas segments, with U.S. business (including MDC) as a key driver.

• Overseas net sales projected to rise to ¥1,737.0bn (+35.9% YoY), with operating profit up to ¥125.0bn (+58.5% YoY).

• Dividend payout ratio targeted at 40%+; minimum annual dividend set at ¥110.

• Focus on leveraging technology and value chain integration for growth.