# DAIWA HOUSE INDUSTRY CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第87期(2025/04/01－2026/03/31) (S100YAZ5)
> Page: https://vizora.meequs.com/en/company/daiwa-house-industry
> Retrieved: 2026-09-30T19:15:00.796Z

## Company

Daiwa House, founded in 2001, is a company in Homebuilders listed on TSE Prime. It has 55,712 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | DAIWA HOUSE INDUSTRY CO., LTD. |
| Ticker | 1925 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/1925.T) |
| Listing | TSE Prime |
| Head office | 大阪市北区梅田三丁目3番5号 |
| Representative (per filing) | 代表取締役社長 大友 浩嗣 |
| Founded | Apr 2001 |
| Share capital | ¥162.6B |
| Employees (consolidated) | 55,712 |
| Average salary (parent only) | ¥11M |
| Fiscal year end | March |
| Website | www.daiwahouse.co.jp (https://www.daiwahouse.co.jp/) |
| Corporate number | 6120001059662 |
| EDINET | E00048 |
| Industries (Vizora) | Homebuilders, Real Estate Brokerage & Management, Condominium Developers, Real Estate Development & Leasing, General Contractors, Electric Power & Gas, Plant Engineering & Building Services |

> Profile source: annual securities report (S100YAZ5, filed 2026-06-17). As of filing

## Five-axis industry profile

Primary industry: Real Estate Brokerage & Management (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 46 | 25 |
| Profitability | 67.3 | 26 |
| Cash conversion | 25 | 26 |
| Efficiency | 21.2 | 26 |
| Financial strength | 8.3 | 6 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 26% of Daiwa House's sales come from Rental Housing, with Single-Family Houses and Commercial Facilities making up much of the rest.
- Out of every ¥100 of sales, about ¥11 is left as operating profit.
- Revenue changed +2.6% from the prior year, operating profit +12.6%.

## Company structure

- Segment revenue mix: Rental Housing 25.6%、Single-Family Houses 23.9%、Commercial Facilities 23.0%、Logistics, Business and Corporate Facilities 20.6%、Condominiums 4.9%
- Revenue → net income: ¥5576861000000 → ¥359501000000
- Net income → operating cash flow: ¥359501000000 → ¥189277000000（difference ¥-170224000000）
- Main uses of operating cash flow: CapEx ¥493832000000 / dividends ¥95892000000 / buybacks ¥14000000
- Change in cash: ¥97633000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥5.58T |  |
| Operating income | ¥614.9B | Margin 11.0% |
| Net income | ¥350.6B | Margin 6.3% |
| Free cash flow | -¥304.6B |  |
| Largest business | Rental Housing | of segment revenue 25.6% |
| Employees (consolidated) | 55,712 |  |
| EPS | ¥352.48 |  |
| Book value per share | ¥3107.22 |  |
| Equity ratio | 34.4% |  |
| Shares outstanding | 659,636,000 |  |
| Treasury shares | 40,289,000 |  |
| Shareholders | 64,603 |  |
| Average salary (parent only) | ¥11M | Filing company only |
| Cash ratio | 5.0% | Net cash -¥2.25T · Cash ÷ revenue 7.6% |
| Vs. industry median margin | +5.6 pp | Homebuilders |
| ROE | 13.8% | Derived from disclosed figures |
| ROA | 4.5% | Derived from disclosed figures |

## Notable figures

- FY2026, parent-company salary changed +25% over five years

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥4126769000000 | ¥5576861000000 | +35.1% |
| Operating income | ¥357121000000 | ¥614879000000 | +72.2% |
| Operating margin | 8.7% | 11.0% | +2.4 pp |
| Employees | 48,807 people | 55,712 people | +14.1% |
| Cash and equivalents | ¥416321000000 | ¥424588000000 | +2.0% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 戸建住宅 → 戸建住宅 | 12.4% |
| 賃貸住宅 → 賃貸住宅 | 23.8% |
| マンション → マンション | 4.9% |
| マンション → 事業再編・廃止 | 3.2% |
| 住宅ストック → 事業再編・廃止 | 2.9% |
| 商業施設 → 商業施設 | 19.3% |
| 事業施設 → 事業施設 | 20.6% |
| 事業施設 → 事業再編・廃止 | 3.2% |
| その他 → その他 | 0.5% |
| その他 → 事業再編・廃止 | 9.2% |
| 新設・再編 → 戸建住宅 | 11.5% |
| 新設・再編 → 賃貸住宅 | 1.8% |
| 新設・再編 → 商業施設 | 3.7% |
| 新設・再編 → 環境エネルギー | 1.6% |

Segment revenue source references: 14 (derived)

## Business growth × margin

X-axis: segment revenue CAGR. Y-axis: latest operating margin. Bubble size: latest revenue. CAGR requires at least two comparable years.

| Segment | CAGR span | Revenue CAGR | Latest revenue | Operating margin | Source refs |
| --- | ---: | ---: | ---: | ---: | ---: |
| Rental Housing | 5 years | +7.8% | ¥1426094000000 | 9.9% | 2 |
| Single-Family Houses | 5 years | +21.0% | ¥1334831000000 | 11.7% | 2 |
| Commercial Facilities | 5 years | +10.0% | ¥1283062000000 | 12.7% | 2 |
| Logistics, Business and Corporate Facilities | 5 years | +3.2% | ¥1146215000000 | 11.1% | 2 |
| Condominiums | 5 years | -4.0% | ¥271502000000 | 2.2% | 2 |
| Environment and Energy | 4 years | -8.9% | ¥87009000000 | 15.9% | 2 |
| Other | 5 years | -41.2% | ¥28146000000 | 14.9% | 2 |

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 5,576,861 | 100.0% | S100YAZ5 |
| Cost of revenue | 4,335,041 | 77.7% | S100YAZ5 |
| Gross profit | 1,241,820 | 22.3% | S100YAZ5 |
| SG&A | 626,940 | 11.2% | S100YAZ5 |
| Operating income | 614,879 | 11.0% | S100YAZ5 |
| Ordinary income | 571,971 | 10.3% | S100YAZ5 |
| Pretax income | 542,449 | 9.7% | S100YAZ5 |
| Income tax | 182,947 | 3.3% | S100YAZ5 |
| Net income | 359,501 | 6.4% | S100YAZ5 |
| Net income attributable to owners | 350,568 | 6.3% | S100YAZ5 |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 78 |
| SG&A | 11 |
| Operating income | 11 |
| (Ref.) Net income | 6 |

### Margin funnel

Gross margin 22.3% → Operating margin 11.0% → Net margin 6.3%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +2.6%; Core profit growth: +12.6%
Growth quality: margin-expansion
Operating leverage (core profit growth ÷ revenue growth): 4.80×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 5,434,819 | 5,576,861 | 142,042 | +2.6% |
| Gross profit | 1,101,065 | 1,241,820 | 140,755 | +12.8% |
| Operating income | 546,279 | 614,879 | 68,600 | +12.6% |
| Net income attributable to owners | 325,058 | 350,568 | 25,510 | +7.8% |
| Operating cash flow | 420,561 | 189,277 | -231,284 | -55.0% |
| Free cash flow | 38,775 | -304,555 | -343,330 | -885.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 4,380,209 | 381,114 | 8.7% | 233,603 | 149,651 | -141,817 | S100LKT4 |
| FY ending Mar 2021 | 4,126,769 | 357,121 | 8.7% | 195,076 | 430,314 | 95,616 | S100O9BA |
| FY ending Mar 2022 | 4,439,536 | 383,256 | 8.6% | 225,272 | 336,436 | -74,545 | S100R8MF |
| FY ending Mar 2023 | 4,908,199 | 465,370 | 9.5% | 308,399 | 230,298 | -256,218 | S100TNYH |
| FY ending Mar 2024 | 5,202,919 | 440,210 | 8.5% | 298,752 | 302,294 | -53,754 | S100VZ3Z |
| FY ending Mar 2025 | 5,434,819 | 546,279 | 10.1% | 325,058 | 420,561 | 38,775 | S100YAZ5 |
| FY ending Mar 2026 | 5,576,861 | 614,879 | 11.0% | 350,568 | 189,277 | -304,555 | S100YAZ5 |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥100.1M |
| Operating income per employee (consolidated) | ¥11M |
| Net income per employee (consolidated) | ¥6.3M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 48,831 | 49,768 | 48,483 | 50,390 | 55,712 |
| Average salary (parent company) | ¥8.8M | ¥9.3M | ¥9.6M | ¥9.9M | ¥11M |
| Average age (parent company) | 39.7 years | 40.1 years | 40.4 years | 40.6 years | 40.7 years |
| Average tenure (parent company) | 15.0 years | 15.4 years | 15.5 years | 15.6 years | 15.7 years |

Year over year: Employees (consolidated) +10.6% · Revenue (consolidated) +2.6%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Single-Family Houses | 1,334,831 | 23.9% | 155,696 | 11.7% |
| Rental Housing | 1,426,094 | 25.6% | 141,142 | 9.9% |
| Condominiums | 271,502 | 4.9% | 5,993 | 2.2% |
| Commercial Facilities | 1,283,062 | 23.0% | 162,492 | 12.7% |
| Logistics, Business and Corporate Facilities | 1,146,215 | 20.6% | 127,645 | 11.1% |
| Environment and Energy | 87,009 | 1.6% | 13,835 | 15.9% |
| Other | 28,146 | 0.5% | 4,204 | 14.9% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Single-Family Houses | 23.9% | 25.5% | 1.5 | 11.7% |
| Rental Housing | 25.6% | 23.1% | -2.5 | 9.9% |
| Condominiums | 4.9% | 1.0% | -3.9 | 2.2% |
| Commercial Facilities | 23.0% | 26.6% | 3.6 | 12.7% |
| Logistics, Business and Corporate Facilities | 20.6% | 20.9% | 0.3 | 11.1% |
| Environment and Energy | 1.6% | 2.3% | 0.7 | 15.9% |
| Other | 0.5% | 0.7% | 0.2 | 14.9% |

Segment → industry: Single-Family Houses → Homebuilders / Rental Housing → Homebuilders / Rental Housing → Real Estate Brokerage & Management / Condominiums → Condominium Developers / Commercial Facilities → Real Estate Development & Leasing / Logistics, Business and Corporate Facilities → Real Estate Development & Leasing / Logistics, Business and Corporate Facilities → General Contractors / Environment and Energy → Electric Power & Gas / Environment and Energy → Plant Engineering & Building Services

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 189,277 | 3.4% | S100YAZ5 |
| Capital expenditure | 493,832 | 8.9% | S100YAZ5 |
| Free cash flow | -304,555 | -5.5% | 算出 |
| Investing cash flow | -726,053 | -13.0% | S100YAZ5 |
| Financing cash flow | 631,058 | 11.3% | S100YAZ5 |
| Dividends paid | 95,892 | 1.7% | S100YAZ5 |
| Share buyback | 14 | 0.0% | S100YAZ5 |
| Change in cash | 97,633 | 1.8% | S100YAZ5 |
| Cash and equivalents | 424,588 | 7.6% | S100YAZ5 |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 326,250 | 346,154 | 439,572 | 326,954 | 424,588 | S100TNYH, S100VZ3Z, S100YAZ5 |
| Total assets | 5,521,662 | 6,142,067 | 6,533,721 | 7,049,323 | 8,412,419 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Net assets | 2,111,385 | 2,388,914 | 2,523,762 | 2,716,745 | 3,022,275 | S100TNYH, S100VZ3Z, S100YAZ5 |
| Share capital | 161,699 | 161,845 | 161,957 | 162,216 | 162,602 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Property, plant and equipment | 1,969,066 | 2,033,629 | 2,008,029 | 2,141,352 | 2,343,071 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Intangible assets excluding goodwill | 170,917 | 193,594 | 203,561 | 205,076 | 382,767 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Goodwill | 93,895 | 94,467 | 95,429 | 94,656 | 159,917 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Investment securities | 228,794 | 218,834 | 224,638 | 220,868 | 303,797 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Current assets | 2,692,794 | 3,251,988 | 3,650,081 | 3,882,464 | 4,702,696 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Current liabilities | 1,444,592 | 1,526,847 | 1,531,400 | 1,833,834 | 2,662,133 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Short-term borrowings | 151,421 | 133,028 | 122,253 | 170,293 | 757,904 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Long-term borrowings | 758,496 | 945,507 | 988,909 | 1,034,496 | 1,205,808 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Bonds | 408,000 | 559,000 | 759,000 | 744,000 | 714,000 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Interest-bearing debt | 1,317,917 | 1,637,535 | 1,870,162 | 1,948,789 | 2,677,712 | 算出 |
| Total liabilities | 3,410,277 | 3,753,153 | 4,009,959 | 4,332,577 | 5,390,144 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Non-controlling interests | 91,227 | 104,701 | 85,900 | 102,507 | 125,531 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Equity attributable to owners of parent | 1,921,500 | 2,155,842 | 2,278,281 | 2,406,094 | 2,658,058 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Retained earnings | 1,486,900 | 1,710,582 | 1,903,326 | 2,132,816 | 2,387,104 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |
| Treasury stock | -29,081 | -20,327 | -88,320 | -188,335 | -185,546 | S100R8MF, S100TNYH, S100VZ3Z, S100YAZ5 |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 5% | S100YAZ5 |
| Property, plant and equipment | 28% | S100YAZ5 |
| Intangibles and goodwill | 6% | S100YAZ5 |
| Investment securities | 4% | S100YAZ5 |
| Other assets | 57% | S100YAZ5 |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Interest-bearing debt | 32% | 算出 |
| Other liabilities | 32% | S100YAZ5 |
| Equity | 36% | S100YAZ5 |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 5,521,662 | 6,142,067 | 6,533,721 | 7,049,323 | 8,412,419 |
| Equity | 2,111,385 | 2,388,914 | 2,523,762 | 2,716,745 | 3,022,275 |
| Interest-bearing debt | 1,317,917 | 1,637,535 | 1,870,162 | 1,948,789 | 2,677,712 |
| Cash | 326,250 | 346,154 | 439,572 | 326,954 | 424,588 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 42.0% | S100YAZ5 |
| Fixed assets ÷ total assets | 27.9% | S100YAZ5 |
| Goodwill ÷ parent equity | 6.0% | S100YAZ5 |

Goodwill over 4 years: 93,895 → 159,917 JPY; total investing cash flow: -2,502,446 JPY. This does not imply causation.

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 5.0% |
| Cash ÷ revenue | 7.6% |
| Net cash (cash − interest-bearing debt) | -¥2.25T |
| Net debt ÷ operating cash flow | 11.90× |
| Cash conversion (operating CF ÷ operating income) | 30.8% |
| Cash vs. profit gap | -161,291 JPY mn (of net income -46.0%) |
| Shareholder returns / net income | 27.4% |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | 27.4% |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 8.9% |
| Investing CF relative to operating CF | 383.6% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 5.1% | 0.80× | 4.1% | 2.87× | 11.7% | S100R8MF |
| 2023 | 6.3% | 0.84× | 5.3% | 2.86× | 15.1% | S100TNYH |
| 2024 | 5.7% | 0.82× | 4.7% | 2.86× | 13.5% | S100VZ3Z |
| 2025 | 6.0% | 0.80× | 4.8% | 2.90× | 13.9% | S100YAZ5 |
| 2026 | 6.3% | 0.72× | 4.5% | 3.05× | 13.8% | S100YAZ5 |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 日本マスタートラスト信託銀行株式会社（信託口） | Major shareholder | 16.1% | 2026-03-31 |
| 株式会社日本カストディ銀行（信託口） | Major shareholder | 5.6% | 2026-03-31 |
| STATE STREET BANK AND TRUST COMPANY 505001（常任代理人 株式会社みずほ銀行） | Major shareholder | 2.6% | 2026-03-31 |
| 大和ハウス工業従業員持株会 | Major shareholder | 2.5% | 2026-03-31 |
| ＪＰモルガン証券株式会社 | Major shareholder | 2.2% | 2026-03-31 |
| 株式会社三井住友銀行 | Major shareholder | 1.8% | 2026-03-31 |
| JP MORGAN CHASE BANK 385781（常任代理人 株式会社みずほ銀行） | Major shareholder | 1.4% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.4% | 2026-03-31 |
| 全国共済農業協同組合連合会 | Major shareholder | 1.2% | 2026-03-31 |
| CEP LUX-ORBIS SICAV（常任代理人 シティバンク、エヌ・エイ） | Major shareholder | 1.2% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Revenue for FY ending Mar 2026 was ¥5.58T, up +2.6% from ¥5.43T a year earlier.
- Profit grew faster than revenue: operating income rose +12.6% to ¥614.9B, and net income attributable to owners rose +7.8% to ¥350.6B.
- Cash flow went the other way. Operating cash flow fell -55.0% to ¥189.3B, and free cash flow swung from ¥38.8B to -¥304.6B.

### Drivers

- Detached homes did well: more custom and ready-built homes were sold in Japan, US sales grew, and a large land sale added to profit
- In commercial facilities, the company sold properties it had developed on its own land and resold business buildings it had bought, lifting both revenue and profit
- Operating income includes a gain from amortizing actuarial differences on retirement benefits. Logistics and business facilities saw lower revenue and profit because fewer development properties were sold
- Operating cash flow fell because the company bought real estate for sale and paid income taxes; free cash flow turned negative due to purchases of large logistics and commercial properties and the acquisition of Sumitomo Densetsu

### Risks

- The company says higher interest rates could weaken demand from mortgage borrowers and raise its own interest costs
- Real estate makes up more than half of total assets, which the company itself sees as exposure to falling property prices
- Overseas uncertainty, including the Middle East situation and tariff policy, has grown, and the company has postponed announcing its next medium-term plan

Cited: Annual Securities Report (FY ending Mar 2026) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report (FY ending Mar 2026) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第87期(2025/04/01－2026/03/31) | S100YAZ5 | 2026-06-17 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YAZ5,, |
| 有価証券報告書－第86期(2024/04/01－2025/03/31) | S100VZ3Z | 2025-06-20 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100VZ3Z,, |
| 有価証券報告書－第85期(2023/04/01－2024/03/31) | S100TNYH | 2024-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TNYH,, |
| 有価証券報告書－第84期(2022/04/01－2023/03/31) | S100R8MF | 2023-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R8MF,, |
| 有価証券報告書－第83期(令和3年4月1日－令和4年3月31日) | S100O9BA | 2022-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100O9BA,, |
| 有価証券報告書－第82期(令和2年4月1日－令和3年3月31日) | S100LKT4 | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LKT4,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| 共立メンテナンス | Capital alliance | 大和ハウス工業・コスモスイニシアとの3社間の資本業務提携 | S100YIIM |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).