Land BusinessLAND BUSINESS8944東証スタンダード不動産業FY ending Sep 2025, consolidated, J-GAAP
Out of every ¥100 of sales, about ¥3 is left as operating profit. Revenue changed +86.5% from the prior year, and it swung back to an operating profit.
Net margin × asset turnover = ROA; ROA × financial leverage = ROE
| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE |
|---|---|---|---|---|---|
| 2021 | 6.9% | 0.09× | 0.6% | 2.92× | 1.7% |
| 2022 | 5.7% | 0.09× | 0.5% | 2.93× | 1.4% |
| 2023 | 7.8% | 0.08× | 0.6% | 2.90× | 1.9% |
| 2024 | — | —× | -4.0% | —× | — |
| 2025 | — | —× | -0.7% | —× | — |
Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.
Annual trends in tangible-asset ratios and goodwill balance.
Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition
Track R&D investment and how long operating capital remains tied up before sales turn into cash.
R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.
| Item | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 4,588 | 4,645 | 4,490 | 9,975 | 18,603 |
| Cost of revenue | 2,783 | 3,053 | 2,849 | 5,572 | 9,802 |
| Gross profit | 1,805 | 1,592 | 1,641 | 4,403 | 8,801 |
| SG&A | 1,038 | 1,286 | 1,683 | 5,955 | 8,166 |
| Operating income | 767 | 306 | -42 | -1,552 | 635 |
| Pretax income | 435 | 631 | 469 | -1,575 | 60 |
| Income tax | 120 | 365 | 119 | 525 | 418 |
| Net income attributable to owners | 316 | 267 | 349 | -2,099 | -358 |
| Operating margin | 16.7% | 6.6% | -0.9% | -15.6% | 3.4% |
Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.
Each bar totals 100% of assets; other is the residual.
| Item | FY ending Sep 2021 | FY ending Sep 2022 | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
|---|---|---|---|---|---|
| Cash and equivalents | ¥9.44B | ¥10.8B | ¥10.6B | ¥5.95B | ¥7.52B |
| Total assets | ¥53.6B | ¥54.2B | ¥53.9B | ¥52B | ¥56.4B |
| Net assets | ¥18.2B | ¥18.5B | ¥18.7B | ¥16.5B | ¥16.1B |
| Share capital | ¥4.97B | ¥4.97B | ¥4.97B | ¥4.97B | ¥4.97B |
| Property, plant and equipment | ¥41.5B | ¥40.9B | ¥33.2B | ¥6.97B | ¥12.6B |
| Intangible assets excluding goodwill | ¥1.09B | ¥1.49B | ¥1.81B | ¥2.22B | ¥2.55B |
| Goodwill | ¥25.5M | ¥17.1M | ¥323.7M | ¥448.6M | ¥865.5M |
| Investment securities | ¥11.5M | ¥11.5M | ¥14.7M | ¥15.8M | ¥21.7M |
| Current assets | ¥9.74B | ¥11B | ¥18B | ¥40.9B | ¥39B |
| Current liabilities | ¥2.93B | ¥3.4B | ¥6.26B | ¥6.46B | ¥7.33B |
| Trade payables | — | ¥6M | ¥24M | ¥707.1M | ¥557.9M |
| Short-term borrowings | ¥600M | ¥900M | ¥600M | ¥1.82B | ¥2.79B |
| Long-term borrowings | ¥24.7B | ¥24.5B | ¥22.2B | ¥23.1B | ¥25.9B |
| Bonds | ¥5.1B | ¥4.62B | ¥3.63B | ¥2.71B | ¥2.58B |
| Interest-bearing debt | ¥30.4Bderived | ¥30Bderived | ¥26.4Bderived | ¥27.6Bderived | ¥31.3Bderived |
| Total liabilities | ¥35.3B | ¥35.7B | ¥35.2B | ¥35.5B | ¥40.3B |
| Equity attributable to owners of parent | ¥18.4B | ¥18.5B | ¥18.8B | ¥16.5B | ¥16.1B |
| Retained earnings | ¥10.7B | ¥10.9B | ¥11.1B | ¥8.89B | ¥7.21B |
| Treasury stock | -¥2.43B | -¥2.43B | -¥2.43B | -¥2.43B | -¥1.23B |
EDINET (FSA Japan)
有価証券報告書－第41期(2024/10/01－2025/09/30)
EDINET (FSA Japan)
有価証券報告書－第40期(2023/10/01－2024/09/30)
EDINET (FSA Japan)
有価証券報告書－第39期(2022/10/01－2023/09/30)
EDINET (FSA Japan)
有価証券報告書－第38期(令和3年10月1日－令和4年9月30日)
EDINET (FSA Japan)
有価証券報告書－第37期(令和2年10月1日－令和3年9月30日)
EDINET (FSA Japan)
有価証券報告書－第36期(令和1年10月1日－令和2年9月30日)
Extracted from XBRL: 51 / Derived from other figures: 2
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