Tokyo Tatemono (8804) Q3 2026 earnings summary

Executive summary

• 9M FY2026 revenue and profit increased, led by investor property sales in Commercial Properties; progress remained generally on track with the full-year forecast.

• FY2026 business profit is forecast at ¥105.0 billion, above the current medium-term plan’s FY2027 target of ¥95.0 billion one year early; a new management plan is scheduled for February 2027.

Financial highlights

• 9M operating revenue was ¥313,489m, up 4.9% YoY; operating profit rose 22.2% to ¥61,853m, and operating gross profit was ¥97,230m versus ¥85,544m.

• 9M business profit was ¥63.0 billion, up 24.9%; ordinary profit was ¥47,719m, up 15.1%, and profit attributable to owners of parent was ¥37,283m, up 26.3%.

• 9M basic EPS was ¥179.79 versus ¥141.81; comprehensive income was ¥41,406m versus ¥43,749m.

• 9M extraordinary income was ¥6,371m versus ¥2,842m, including increased gains on cross-shareholdings; business profit includes equity-method items and gains on non-current asset sales.

Outlook and guidance

• FY2026 forecast: revenue ¥524,000m, operating profit ¥105,500m, business profit ¥105.0 billion, ordinary profit ¥83,500m and parent-attributable profit ¥65,000m; forecasts remain unchanged.

• FY2026 progress is generally on track; fourth-quarter investor sales are expected to meet forecast based on contracts and tentative agreements.

• FY2026 basic EPS is forecast at ¥313.54; annual dividend is forecast at ¥126 per share, up ¥21 YoY, with a 40.2% payout ratio, achieving the FY2027 plan’s 40% target early.

• The February 2027 management plan will set a refined growth strategy and quantitative targets for FY2027 onward.