Tosei Corporation reported a 25.0 per cent jump in profit attributable to owners to ¥14.05 billion for the nine months ended 31 Aug 2025, lifted by brisk sales of renovated and newly-built properties that pushed revenue 20.9 per cent higher to ¥83.96 billion.
Basic earnings per share rose to ¥289.75 from ¥231.96 a year earlier. The board maintained an interim dividend of nil but kept its full-year payout forecast at ¥98 a share, up from the previous year’s ¥79, with the year-end dividend scheduled after the Nov 30 book-closing date.
Segmentally, profit before corporate costs and finance items climbed across most units: • Revitalisation business: ¥6.71 billion (+13.1 per cent YoY) on the sale of 32 refurbished buildings and 93 pre-owned condos. • Development: ¥6.02 billion (+19.0 per cent) after disposing of 12 large buildings and 32 detached houses. • Rental: ¥3.64 billion (+25.3 per cent) as the portfolio expanded to 125 properties. • Fund & consulting: ¥4.43 billion (+42.8 per cent) with assets under management rising to ¥2.64 trillion. • Property management: ¥0.87 billion (-7.1 per cent) amid higher costs. • Hotel: ¥2.06 billion (+31.7 per cent) on recovering occupancy and room rates.
Group operating cash inflow of ¥6.89 billion contrasted with an outflow a year earlier, aided by earnings growth despite a ¥9.38 billion build-up in inventories. Net debt edged up as the company drew ¥49.62 billion in long-term loans and repaid ¥38.85 billion.
Looking ahead, Tosei left its full-year guidance unchanged, targeting revenue of ¥98.13 billion (+19.4 per cent YoY) and profit attributable to owners of ¥14.09 billion (+17.5 per cent). Management also confirmed a two-for-one share split effective 1 Dec 2025 to improve liquidity, boosting authorised shares to 300 million.
The company said it will continue to acquire income-generating assets, expand its hotel pipeline—next opening planned for Kamata in Dec 2025—and grow fund management mandates while monitoring interest-rate movements and investor appetite for Japanese real estate.