Kasumigaseki Capital Co., Ltd. · TSE:3498

Kasumigaseki Capital — FY2026 Earnings Presentation

72 slides from Kasumigaseki Capital's earnings presentation, Oct 6, 2026

Slide 1: Full-Year FYE8/2026 Financial Results
Kasumigaseki Capital Co., Ltd. Full-Year FYE8/2026 Financial Results Oct. 6, 2026 Kasumigaseki Capital Co., Ltd. TSE Prime Market (Securities Code: 3498)
Slide 4: Topics
Topics ◼ Recorded net income of ¥16.6 bn, and set forecast ¥24.0 bn for FYE8/27. ◼ Demand from development investors expanded further following the REIT listing and fund formation in FYE8/25, and land sales to development funds drove profit growth. FYE8/2026 ◼ Structured our first U.S. development p
Slide 5: Progress of the Phase 2 Medium-Term Management Plan
Progress of the Phase 2 Medium-Term Management Plan (Billions of yen) Actual and forecast net income MTMP (Phase 2) Net income CAGR* approx. 50% 50.0 24.0 16.6 MTMP (Phase 1) CAGR* approx. 115% 10.2 5.0 Initial plan 2.0 1 year ahead of schedule 0.43 0.79 1.0 0.23 0.13 FYE8/18 FYE8/19 FYE8/20 FYE8/21
Slide 6: MTMP: AUM
MTMP: AUM We aim to achieve the AUM target of ¥1.5 trillion for FYE8/2029 by diversifying our business portfolio and scaling up our business size. AUM target (Billions of yen) ¥1.5tn MTMP (Phase 2: 2025–2029) Actual MTMP 947.6 (Phase 1: 2022–2025) Actual Actual 394.1 Actual 306.1 232.9 Actual Actual
Slide 7: Diversification of Business Portfolio
Diversification of Business Portfolio While diversifying the business portfolio in line with the market environment and 2.4E+11 challenges, we are considering expansion into new domains and M&A opportunities with a view toward growth beyond the Phase 2 MTMP. 1.9E+11 Business portfolio Other 1.4E+11
Slide 8: ROE Target
ROE Target Equity accumulation through profit growth is expected to accelerate. Leveraging debt based on accumulated equity and improve ROE through growth investment. ROE 40.0% FYE8/29 ROE target 35.0% 32.5% 30.0% 27.2% 25% or higher 26.5% Aim for 30% 25% 25.0% 20.3% 20.0% 18.2% 14.5% 15.0% 10.0% FY
Slide 9: Balance Sheet Control (Financial Strategy)
Balance Sheet Control (Financial Strategy) Maintain the equity ratio at around 30%. Accelerate growth investment using additional borrowing capacity. Additional borrowing Borrowing capacity while maintaining capacity an equity ratio of 30% Cash and + Approx. ¥ 70.0 bn deposits ¥41.7 bn Cash and Liab
Slide 11: FYE8/26 P&L Comparison with Prior Year and Forecast
FYE8/26 P&L Comparison with Prior Year and Forecast FYE8/25 FYE8/26 FYE8/26 YoY (Millions of yen) Actual (A) Forecast Actual (B) (B/A) Net sales 96,501 150,000 163,756 169.7% Gross profit 36,436 – 54,183 148.7% Operating profit 18,933 26,500 27,866 147.2% Ordinary profit 17,134 24,000 25,896 151.1%
Slide 12: FYE8/26 Analysis of Changes in Operating Profit
FYE8/26 Analysis of Changes in Operating Profit A substantial increase in gross profit offset higher SG&A expenses, including personnel costs. Operating profit increased significantly by ¥8,932 mn YoY. (Millions of yen) +17,747 (3,599) 3,599 (581) 581 455 (455) ▲4,179 (4,179) 27,866 YoY change 18,93
Slide 13: BS Comparison FYE8/26 vs Previous Year-End
BS Comparison FYE8/26 vs Previous Year-End As of As of As of As of Difference % of total Difference % of total (Millions of yen) Aug. 31, Aug. 31, (Millions of yen) Aug. 31, Aug. 31, (B – A) assets (B – A) assets 2025 (A) 2026 (B) 2025 (A) 2026 (B) Cash and deposits 24,016 41,791 17,774 18.8% Short-
Slide 14: FYE8/26 Project Pipeline and AUM
FYE8/26 Project Pipeline and AUM Built up projects steadily, up ¥554.4 bn (up 84%) from the previous fiscal year-end. Total project value for pipeline and AUM grew to ¥1.2 tn. (Billions of yen, unless otherwise stated) As of Aug. 31, 2025 As of Aug. 31, 2026 Change Change No. of No. of (Amount) (%)
Slide 15: FYE8/26 Progress of AUM
FYE8/26 Progress of AUM Total project value, including pipeline, reached ¥1,218.0 bn. (Billions of yen) ¥1,218.0 bn in total Pipeline (Land secured) AUM (Under development) Pipeline 270.4 AUM (In operation) 663.6 Under development AUM 783.4 947.6 306.1 232.9 123.9 In operation 31.5 164.2 21.8 22.8 2
Slide 16: FYE8/27 Performance Forecast
FYE8/27 Performance Forecast Net sales Operating profit Profit attributable to 220,000 41,000 owners of parent 24,000 163,756 27,866 16,692 96,501 18,933 10,250 FYE8/25 FYE8/26 FYE8/27 FYE8/25 FYE8/26 FYE8/27 FYE8/25 FYE8/26 FYE8/27 (Actual) (Actual) (Forecast) (Actual) (Actual) (Forecast) (Actual)
Slide 17: Business Overview
3 Business Overview 1. Hotel Business 2. Infrastructure Business 3. Overseas Business 4. Healthcare Business Copyright(c) Kasumigaseki Capital Co., Ltd. ALL Rights Reserved. 16
Slide 19: Topic (1): Progress Made So Far
Topic (1): Progress Made So Far Procured 22 projects Recognized as revenue 16 projects ・Land: 16 projects ・Land sold: 14 projects ・Land & building: 6 projects ・Land & building sold: 2 projects 5 hotels opened in FYE8/26 Opened 5 hotels including a new brand “HOTEL FORK & KNIFE” Opened in Mar. 2026:
Slide 20: Topic (2): Acquisition of Shares in Wakayama Marina City
Topic (2): Acquisition of Shares in Wakayama Marina City Acquired shares in Wakayama Marina City Co., Ltd. and commenced a mixed-use development that includes a hotel. Plan to redevelop the site in two phases with a range of partners. Marina City Hotel Phase I Phase PhaseIIⅡ Yacht club Site area: Si
Slide 21: Topic (3): New Revenue Model Through Shared Ownership Sales
Topic (3): New Revenue Model Through ”Shared Ownership Sales” Aim to build a new revenue model by drawing on UMITO’s strength in ”shared ownership sales.” Development, sales, and operation of “UMITO” small luxury hotels Real estate development through our distinctive business model “Shared ownership
Slide 22: Topic (4): Performance of Recently Opened Hotels
Topic (4): Performance of Recently Opened Hotels Stronger brands have significantly accelerated hotel ramp-up after opening. Reached steady-state conditions within six months. Approximate RevPAR curve for the first six months after opening (assuming steady-state conditions = 100) FAV LUX Miyazaki ed
Slide 23: Brand Lineup
Brand Lineup self hospitality x Local Discovery self hospitality x Luxury self hospitality Stay together, Play together Where luxury goes to play edit your stay FHG HOTELS: a brand family powered by the “self hospitality” operating system Multi-brand strategy to capture different demand segments Pos
Slide 24: Platform Circulating Capital, Scale, and Demand
Platform Circulating Capital, Scale, and Demand A system that “scales” through A mechanism to amplify “capital” repeatability Finance x Real estate Technology x Franchise • Establishing a sustainable cycle through REIT • Turning operations into a product • Increasing turnover through an asset-light
Slide 25: FHG hotels — Creative Partners
FHG hotels — Creative Partners 01 DESIGN 02 FOOD & BEVERAGE 03 LIFESTYLE 04 ENTERTAINMENT Creative partners From architecture to entertainment — and everyone in between. Studio PDP fridays ref. ARCHITECTURE GBR FOOD & PRODUCE JPN SELECT SHOP JPN Alan Walker DJ / PRODUCER NOR Creators across discipli
Slide 26: FHG hotels — Events & Media
FHG hotels — Events & Media Event Media Reaching households across Kyushu Aired on all 22 TV stations in Kyushu FAV LUX Miyazaki ─ still from the TV commercial BLACK Entered into a partnership with JAL PARTNERSHIP SAMURAI Launched services including JAL Mileage Bank integration SUMMIT 2026 Joined th
Slide 27: Track Record of Rebranding
Track Record of Rebranding At our first property in Nagoya, renovation and optimized operations increased GOP to 3.0x in the first year. BASE LAYER HOTEL NAGOYA NISHIKI BASE LAYER HOTEL FUKUOKA Post-opening average Post-opening average 2019 average (Sep. 2025–Aug. 2026) 2023 average (May 2026–Aug. 2
Slide 28: More Rebranded Hotels Set to Open
More Rebranded Hotels Set to Open BASE LAYER HOTEL KOBE SANNOMIYA BASE LAYER HOTEL ROPPONGI Guest rooms: 82 rooms ｜ Scheduled to open on Nov. 10, 2026 Guest rooms: 64 rooms ｜ Scheduled to open on Dec. 28, 2026 BASE LAYER HOTEL_UNION NAGOYA SAKAE BASE LAYER HOTEL NAGASAKI Guest rooms: 86 rooms ｜ Sche
Slide 29: Projects in the Planning/Development Pipeline
Projects in the Planning/Development Pipeline Shibuya-ku Hotel PJ (23 rooms) Kanazawa-shi Katamachi Hotel PJ (59 rooms) Gunma Kusatsu Hotel PJ (Planning) Bunk Bed Sauna King Room Scheduled to open in spring 2027 Scheduled to open in spring 2027 Awajishima Sumoto Hotel PJ (59 rooms) Fujikawaguchiko H
Slide 30: Project Pipeline List
Project Pipeline List Number of rooms Opened facilities No. of rooms Projects under development Scheduled opening Projects under planning Scheduled opening 1 fav Takamatsu 41 rooms 23 BLH KOBE SANNOMIYA 82 rooms Nov. 2026 53 Las Vegas 4000 Paradise Hotel PJ Spring 2030 2 fav Hidatakayama 38 rooms 24
Slide 31: Project Pipeline Mapping
Project Pipeline Mapping Hokkaido Overseas fav/FAV LUX Under Hakodate development: 2 projects seven x seven Sapporo Susukino edit x seven Under development: BASE LAYER HOTEL Asahikawa HOTEL FORK & KNIFE Hakodate Annex + 1 project Chugoku Hiroshima Stadium Hiroshimaheiwaodori Tohoku Miyajima Under de
Slide 32: Performance of properties of Kasumigaseki Hotel REIT
Performance of properties of Kasumigaseki Hotel REIT Continued to enhance property value after opening, including renewal of Itoshima. Itoshima significantly outperformed the same period a year earlier.* RevPAR trends at 11 properties with variable rent arrangements** Added pool and sauna areas, plu
Slide 33: 2. Infrastructure Business
2. Infrastructure Business Rendering of LOGI FLAG TECH Kobe Yasakadai I Inside of automated warehouse at LOGI FLAG TECH Tokorozawa I Copyright(c) Kasumigaseki Capital Co., Ltd. ALL Rights Reserved. 32
Slide 34: Topic (1): Progress Made So Far
Topic (1): Progress Made So Far Land/building acquisitions closed Development phase Land Miyoshi Town, Iruma, Saitama Miyoshi Town, Iruma, Saitama acquisitions Land sold closed Atsugi City, Kanagawa 5projects Kyoto City, Kyoto 6 projects Kyoto City, Kyoto Atsugi City Area, Kanagawa Ibaraki City, Osa
Slide 35: Topic (2): Dry Automated Warehouse Initiatives
Topic (2): Dry Automated Warehouse Initiatives Expanding cost-effective automation in the large dry warehouse market, where automated facilities remain rare. Warehouse market size by type Illustrative tenant cost savings 52.155 mn t Approx. 20% Rent component reduction Approx. 12x 4.197 mn t Frozen
Slide 36: Our First Dry Automated Warehouse
Our First Dry Automated Warehouse Our first dry automated warehouse project aims to serve as a replicable model for next-generation logistics facilities, with a view to fully unmanned operations and an equipment-driven business model in the future. Illustration of a dry automated warehouse Differenc
Slide 37: Concept for Implementing Logistics DX: Logistics OS × Digital Twin
Concept for Implementing Logistics DX: Logistics OS × Digital Twin Challenges facing logistics Logistics efficiency targets - Compliance with the amended Logistics Efficiency Act (Apr. 2026) Government targets for FY2030 (vs. FY2024) “Specified shippers” above a certain size are required to take mea
Slide 38: Topic (3): Launched Our First Data Center Development Project
Topic (3): Launched Our First Data Center Development Project Entering the data center market, where rent growth driven by strong demand is expected to provide resilience against inflation Data center market Our data center business Floor area Market size of domestic data center businesses Concept o
Slide 39: Concepts and Facility Types
Concepts and Facility Types Developing logistics facilities with a focus on frozen & chilled / automated warehouses Frozen & chilled warehouse Automated warehouse Three-temperature-zone warehouse Factory & Logistics Park Hazardous material warehouse (Provisional Name) Logistics OS + Digital Twin * T
Slide 40: Project Pipeline List
Project Pipeline List ■Facilities in operation (13 properties: ¥122.8 bn scale) ■Facilities to be developed (11 properties: ¥213.3 bn scale) Automated frozen (12) Frozen & chilled (9) Total floor Total floor Planned completion NO. Property name NO. Location 3-temperature-zone** (2) area* area* of co
Slide 41: Projects for Developing Relay Transport Bases
Projects for Developing Relay Transport Bases We will develop 2 relay transport bases, seeing the so-called “2024 problem”—labor shortages due to tighter overtime restrictions for truck drivers—as a business opportunity. 3 hrs 51 mins Tokyo 3hrs 21mins Nagoya 3 hrs 22 mins 3hrs 15mins Fukuroi LOGI F
Slide 42: Overview of the COLD X NETWORK Frozen Storage Service
Overview of the “COLD X NETWORK” Frozen Storage Service Flexible frozen storage service that can adapt to changes in demand Conventional warehouses COLD X NETWORK Only for the period & space required × × × Short-term Small-lot storage Urgent availability From one day From one case Start using Contra
Slide 43: Frozen Storage Service Business: Future Vision
Frozen Storage Service Business: Future Vision Considering regular inter-warehouse transport, with high-turnover cargo stored near urban centers and longer- term cargo stored in regional warehouses, to optimize operations by location. ◼ Location strategy Hokuriku Tohoku No. 2: Sendai Izumi I Project
Slide 44: Market Environment: Domestic Demand for Frozen & Chilled Warehouses
Market Environment: Domestic Demand for Frozen & Chilled Warehouses While demand for frozen foods continues to grow, driven by more single-person households and greater workforce participation by women, frozen & chilled warehouse capacity remains tight, especially in Japan’s six largest cities. Tren
Slide 45: Market Environment: Reconstruction Demand for Frozen & Chilled Warehouses
Market Environment: Reconstruction Demand for Frozen & Chilled Warehouses Frozen & chilled warehouses are increasingly expected to transition to natural refrigerants with lower environmental impact. Many facilities are more than 20 years old, and replacement demand is expected to increase. Effective
Slide 46: Factory-Warehouse Integrated Site "Factory & Logistics Park"
Factory-Warehouse Integrated Site “Factory & Logistics Park” (Provisional Name) A rental-type site that integrates factories and warehouses, contributing to improved business profitability Reduction of inter-site transportation costs and lead time Factory & Logistics Park* Zero transport Raw materia
Slide 47: Factory-Warehouse Integrated Site "Factory & Logistics Park"
Factory-Warehouse Integrated Site “Factory & Logistics Park” (Provisional Name) Building a next-generation supply chain starting from the Factory & Logistics Park and contributing to environmental impact reduction Next-generation supply chain Production & Storage Transportation Factory & Logistics P
Slide 48: Conceptual Drawing of Our Automated Frozen Warehouse
Conceptual Drawing of Our Automated Frozen Warehouse Unmanned, automated Optimal storage location -25℃ frozen warehouse chosen by a system area No time required to search for Non-contact/non- specific cargo face-to-face work in the freezer Reducing human errors 24-hour automated operation Stacker cr
Slide 49: 3. Overseas Business
3. Overseas Business Miami BLOCK C EAST facility image Rendering of a facility to be built under Setia Alaman Project Copyright(c) Kasumigaseki Capital Co., Ltd. ALL Rights Reserved. 48
Slide 50: Overseas Business Development with a View to Expanding Business Domains
Overseas Business Development with a View to Expanding Business Domains Development of existing businesses Further business expansion Apply know-how cultivated Hotel Business through domestic operations BASE LAYER HOTEL to overseas operations fav Hiroshimaheiwaodori seven x seven Itoshima NAGOYA NIS
Slide 51: Overview of the U.S. Business
Overview of the U.S. Business Nevada Hotel Las Vegas Las Vegas 4000 Paradise Hotel Project Residence Dallas Condominium Project Dallas Texas Florida Hotel Residence Miami Miami BLOCK C EAST Project Hotel pipeline (2 projects: ¥34.6 bn scale) Residential pipeline (2 projects: ¥159.0 bn scale) No. of
Slide 52: U.S. Market
U.S. Market Hotel supply and demand are on a recovery trajectory. Population shifts progressing against the backdrop of differences in tax burdens Hotel market State tax policies, etc. Number of travelers in the U.S. State corporate and individual income tax rates* (Millions of people) No state corp
Slide 53: U.S. Topic: Monetization of Our First Project in Miami
U.S. Topic: Monetization of Our First Project in Miami Launched a world-class mixed-use hotel and residence development as our first U.S. project. Monetized the project by selling it to a fund primarily backed by Japanese investors. Project overview ▶ Acquired a parcel in the Worldcenter development
Slide 54: Logistics Business in ASEAN (Malaysia)
Logistics Business in ASEAN (Malaysia) Kuala Lumpur, an ASEAN hub, offers strong logistics potential amid continued economic and population growth and rising international logistics demand, including exports of halal products. Expansion of economic scale First project (Setia Alaman PJ) Nominal GDP p
Slide 55: Dubai Topics
Dubai Topics Launched a residential development business utilizing funds and moved two projects into the development phase. Transformation of the Dubai business model Real estate transaction market No. of transactions (2025) 売買件数(25年) No. of transactions (2026) 売買件数(26年) Entered fund-based developme
Slide 56: 4. Healthcare Business
Rendering of a facility to be built under Suginami Ward Project in Tokyo 4. Healthcare Business Rendering of a facility to be built under Nishinomiya City Project in Hyogo Copyright(c) Kasumigaseki Capital Co., Ltd. ALL Rights Reserved. 55
Slide 57: New Openings
New Openings CLASWELL Shirokanedai CLASWELL Fuchu Nakagawara CLASWELL Omiya CLASWELL Toyonaka Kita-Sakurazuka Opened in November 2025 Opened in December 2025 Opened in January 2026 Opened in February 2026 4 mins walk from 4 mins walk from 3 mins walk from 9 mins walk from Access Access Access Access
Slide 58: Project Pipeline List
Project Pipeline List ■Facilities already launched (14 properties: ¥37.4 bn scale) Facilities already launched (14) Total floor No. Facility name Location No. of rooms area Facilities under development (3) 1 Sumikawa Hospice Minami Ward, Sapporo City 1,539 m2 37 rooms 2 CLASWELL Sengawa Chofu City,
Slide 59: Positioning of Healthcare Business
Positioning of Healthcare Business While demand for hospice residences is increasing, there are only a limited number of facilities that people would want their parents—or themselves—to live in. Example: Positioning of senior care facilities and residences in Tokyo 23 wards (Thousands of yen) 1,000
Slide 60: Brand Concept
Brand Concept “Today was a good day.” A safe medical environment and a life enriched with everyday moments. This is an “open hospice,” can offer What only claswell completely different from spending the final stage in a hospital. Here, people can continue doing what they wish; going where they wa
Slide 61: Market Analysis
Market Analysis The annual number of deaths in Japan is increasing and is projected to reach 1.66 million by 2040. Healthcare facilities are rapidly gaining share as places of death, replacing homes and hospitals. (Thousands Projected number of deaths in Japan 2040 Trends in place of death of people
Slide 63: Human Resource Strategy
Human Resource Strategy Increasing investment in “human resources” who create and drive businesses forward Building an AI-first organization and concentrating recruitment investment on top talent Human capital investment Expertise Recruitment Enhancing employee Real estate x finance Referral engagem
Slide 64: Human Resource Strategy
Human Resource Strategy Continue business growth by creating high added value while improving productivity. 30000 47,000 Net Income (￥million) Net Income Per Share (￥thousand) 42,000 Net income per employee: approx. 3.9x 36,848 24,000 25000 37,000 32,000 29,370 20000 Maximize productivity 16,692 wit
Slide 66: Business Model
Business Model Real estate business flow Land purchase (approx. 6 months) Development (2 to 3 years) Management (Long term) Developer Project manager Asset manager ・Site sourcing ・Development structuring ・Support for improving the value ・Development plan formulation ・Project management during of rea
Slide 67: FYE8/26 Trends in Consolidated Net Income (Cumulative)
FYE8/26 Trends in Consolidated Net Income (Cumulative) (Millions of yen) 16,692 10,250 5,020 4,951 4,555 4,053 2,627 2,453 2,034 2,002 1,292 224 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FYE8/24 FYE8/25 FYE8/26 Copyright(c) Kasumigaseki Capital Co., Ltd. ALL Rights Reserved. 66
Slide 68: Rising Costs and Gross Profit Margin
Rising Costs and Gross Profit Margin Maintained a high gross profit margin despite rising construction costs and interest rates. Gross profit margin % 37.8% % 33.1% % 30.9% 29.7% 28.3% % % % 27.1% % % Trends in construction costs and interest rates (%) 150 3.500 Factory construction cost index * Con
Slide 69: Basic EPS Growth: Track Record
Basic EPS Growth: Track Record Basic EPS is projected to grow 23x since IPO, despite the dilutions of shares. Its CAGR* is expected to reach 49%, outpacing the average annual dilution rate of 11%. Actual and forecast basic EPS 23x since IPO 976.8** 49% CAGR* (Forecast) PO Dilution rate 23.7% 709.4 P
Slide 70: Shareholder Returns
Shareholder Returns We will continue striving to enhance shareholder returns. (Yen/share) Trends in dividends Dividend for FYE8/26* 200 200 Dividend** Commemorative dividend 165.00 yen 180 160 165 per share 140 120 * To be determined by resolution at the general meeting of shareholders 120 to be hel
Slide 71: Company Profile
Company Profile Company name Kasumigaseki Capital Co., Ltd. (Tokyo Stock Exchange Prime Market: Securities Code 3498) Established/fiscal year-end September 2011 (Fiscal year-end: August 31) Representative Koshiro Komoto, President & CEO Head office 3-2-1 Kasumigaseki, Chiyoda-ku, Tokyo Paid-in capit
Slide 72: Notice of e-mail distribution
– Notice of e-mail distribution – If you would like to subscribe, please register using the form on the right. This material contains forward-looking statements regarding future performance forecasts and other matters. These statements are based on information available at the time this material was

Kasumigaseki Capital — FY2026 Earnings Presentation on 6ix

Kasumigaseki Capital — FY2026 Earnings Presentation

Slide 1: Full-Year FYE8/2026 Financial Results

Slide 2: Index

Slide 3: Topics

Slide 4: Topics

Slide 5: Progress of the Phase 2 Medium-Term Management Plan

Slide 6: MTMP: AUM

Slide 7: Diversification of Business Portfolio

Slide 8: ROE Target

Slide 9: Balance Sheet Control (Financial Strategy)

Slide 10: Financial Results & Forecast

Slide 11: FYE8/26 P&L Comparison with Prior Year and Forecast

Slide 12: FYE8/26 Analysis of Changes in Operating Profit

Slide 13: BS Comparison FYE8/26 vs Previous Year-End

Slide 14: FYE8/26 Project Pipeline and AUM

Slide 15: FYE8/26 Progress of AUM

Slide 16: FYE8/27 Performance Forecast

Slide 17: Business Overview

Slide 18: 1. Hotel Business

Slide 19: Topic (1): Progress Made So Far

Slide 20: Topic (2): Acquisition of Shares in Wakayama Marina City

Slide 21: Topic (3): New Revenue Model Through Shared Ownership Sales

Slide 22: Topic (4): Performance of Recently Opened Hotels

Slide 23: Brand Lineup

Slide 24: Platform Circulating Capital, Scale, and Demand

Slide 25: FHG hotels — Creative Partners

Slide 26: FHG hotels — Events & Media

Slide 27: Track Record of Rebranding

Slide 28: More Rebranded Hotels Set to Open

Slide 29: Projects in the Planning/Development Pipeline

Slide 30: Project Pipeline List

Slide 31: Project Pipeline Mapping

Slide 32: Performance of properties of Kasumigaseki Hotel REIT

Slide 33: 2. Infrastructure Business

Slide 34: Topic (1): Progress Made So Far

Slide 35: Topic (2): Dry Automated Warehouse Initiatives

Slide 36: Our First Dry Automated Warehouse

Slide 37: Concept for Implementing Logistics DX: Logistics OS × Digital Twin

Slide 38: Topic (3): Launched Our First Data Center Development Project

Slide 39: Concepts and Facility Types

Slide 40: Project Pipeline List

Slide 41: Projects for Developing Relay Transport Bases

Slide 42: Overview of the COLD X NETWORK Frozen Storage Service

Slide 43: Frozen Storage Service Business: Future Vision

Slide 44: Market Environment: Domestic Demand for Frozen & Chilled Warehouses

Slide 45: Market Environment: Reconstruction Demand for Frozen & Chilled Warehouses

Slide 46: Factory-Warehouse Integrated Site "Factory & Logistics Park"

Slide 47: Factory-Warehouse Integrated Site "Factory & Logistics Park"

Slide 48: Conceptual Drawing of Our Automated Frozen Warehouse

Slide 49: 3. Overseas Business

Slide 50: Overseas Business Development with a View to Expanding Business Domains

Slide 51: Overview of the U.S. Business

Slide 52: U.S. Market

Slide 53: U.S. Topic: Monetization of Our First Project in Miami

Slide 54: Logistics Business in ASEAN (Malaysia)

Slide 55: Dubai Topics

Slide 56: 4. Healthcare Business

Slide 57: New Openings

Slide 58: Project Pipeline List

Slide 59: Positioning of Healthcare Business

Slide 60: Brand Concept

Slide 61: Market Analysis

Slide 62: Human Resource Strategy

Slide 63: Human Resource Strategy

Slide 64: Human Resource Strategy

Slide 65: Appendix

Slide 66: Business Model

Slide 67: FYE8/26 Trends in Consolidated Net Income (Cumulative)

Slide 68: Rising Costs and Gross Profit Margin

Slide 69: Basic EPS Growth: Track Record

Slide 70: Shareholder Returns

Slide 71: Company Profile

Slide 72: Notice of e-mail distribution