Sekisui House (1928) Q4 2026 earnings summary

Executive summary

• Net sales and profit reached record highs in the final year of the Sixth Mid-Term Management Plan, driven by stable domestic growth and strong development property sales, despite sluggish U.S. homebuilding performance.

• All three years of the Sixth Mid-Term Management Plan outperformed initial targets.

• Dividend increased for the 14th consecutive year, up by ¥144 to ¥9 per share.

Financial highlights

• FY2025 net sales: ¥4,197.9 billion, up 3.4% year-over-year; operating profit: ¥341.4 billion, up 3.0%; profit attributable to owners: ¥232.0 billion, up 6.6%; EPS: ¥358.07.

• Gross profit increased 6.8% YoY to ¥839,819 million; gross profit margin improved to 20.0% (+0.6p YoY).

• Ordinary profit rose 8.7% to ¥327,800 million.

• Net assets per share increased to ¥3,300.57.

• Cash and cash equivalents at year-end were ¥434,925 million, up ¥44,618 million YoY.

Outlook and guidance

• FY2026 plan: net sales ¥4,353.0 billion (+3.7% YoY), operating profit ¥350.0 billion (+2.5%), profit attributable to owners ¥218.0 billion (-6.1%).

• EPS forecasted at ¥336.30; annual dividend to increase to ¥145.00 per share, maintaining a payout ratio above 40%.

• ROE target set in the high 12% range by FY2028.

• Segment structure to be revised for enhanced business unit management.