Polaris Holdings Co., Ltd · TSE:3010
Polaris — FY2026/3 Earnings Presentation
39 slides from Polaris's earnings presentation, May 13, 2026
Slide 1: Financial Results Presentation for the Fiscal Year Ended March 2026
Financial Results Presentation for the Fiscal Year Ended March 2026 May 13, 2026 Polaris Holdings Co., Ltd.
Slide 2: Table of Contents and Notes on Financial Results
2 Table of Contents FY2026/3 Notes on Our Financial Results Executive Summary (1) The completion of the M&A of Minacia Co., Ltd. in December 2024 has significantly expanded our company's scale from Financial Highlights FY2025 (ended March 2025). Financial Overview (2) Due to the issuance of ne
Slide 3: Executive Summary
3 Executive Summary FY2026/3 Financial Results Business Environment Business Overview Results exceeded 2025 inbound visitors Existing hotels' RevPAR latest forecasts; revenue, hit record high; Japan-China grew vs. prior year profit & EPS all tensions impact from Dec. +11% — Strong Significantly abov
Slide 4: Financial Highlights (Pre-Goodwill Amortization)
Financial Highlights 〔Pre-Goodwill Amortization〕 4 FY2026/3 (1) Achieved significant revenue and profit growth through merger with Minacia, new hotel openings, Financial Highlights and increased earnings from existing hotels. (2) Net income increased significantly due to recognition of approx. ¥1.9B
Slide 5: Net Sales & Operating Income Trend
Financial Summary: 5 Net Sales & Operating Income (Pre-Goodwill Amortization) Trend FY2026/3 Achieved revenue and profit growth for 5 consecutive years since COVID-19 period Financial Highlights (FY2022) Financial Summary Net Sales Op. Income Business Topics （¥M） （¥M） Business Overview 60,000 Net Sa
Slide 6: Quarterly Net Sales Trend
Financial Summary: Quarterly Net Sales Trend 6 FY2026/3 • Revenue continues to grow steadily even after Minacia integration, Financial Highlights driven by existing hotel performance and new openings. Financial Summary +14% • Q4 FY2026 (ended March 2026) net sales +14% year-on-year. Business Topics
Slide 7: Quarterly Operating Income Trend
Financial Summary: 7 Quarterly Operating Income (Pre-Goodwill Amortization) Trend FY2026/3 • Operating income growing steadily in line with revenue growth. Financial Highlights • Q4 FY2026 operating income +3% year-on-year. +3% Financial Summary Business Topics 1,497 1,337 Business Overview 1,220 1,
Slide 8: Financial Summary: EPS Trend
Financial Summary: EPS Trend 8 FY2026/3 Pre-tax EPS (excl. goodwill amortization and deferred tax asset effects) grew significantly Financial Highlights driven by Minacia integration, new hotel openings, and earnings growth at existing hotels. Financial Summary Business Topics Pre-tax Net Income Bus
Slide 9: Key Business Topics for FY2026/3
9 Key Business Topics for FY2026/3 FY2026/3 Financial Highlights PMI Progress Strong New Hotel Openings Financial Summary Brand integration into KOKO HOTELS Newly contracted 11 new hotel Business Topics completed projects Business Overview Rebranding of all hotels complete. 8 hotels opened in
Slide 10: Domestic Hotels - Portfolio KPI
10 Business Overview: Domestic Hotels - Portfolio KPI FY2026/3 Supported by solid demand including inbound tourism, full-year RevPAR rose +11.3% Financial Highlights year-on-year. Financial Summary Apr 2025 - Mar 2026 (12 months) Business Topics Actual vs. Prior Year Business Overview Comparable Hot
Slide 11: Domestic Hotels - KPI by Region
11 Business Overview: Domestic Hotels - KPI by Region FY2026/3 • Inbound ratio increased in all regions; RevPAR also grew across the board. Financial Highlights • Particularly strong RevPAR growth in Hokkaido, Chubu, and Kinki regions. Financial Summary Business Topics Business Overview RevPAR（¥） In
Slide 12: Accommodation Market
12 Business Overview: Accommodation Market FY2026/3 • Inbound visitors to Japan in 2025 reached approximately 43 million, a new record high Financial Highlights • Growth continues toward the government target of 60 million visitors per year, with North Financial Summary America and Europe also on th
Slide 13: Inbound Trends by Nationality/Region
13 Business Environment: Inbound Trends by Nationality/Region FY2026/3 • In 2025, inbound visitors grew from most nationalities/regions except Hong Kong Financial Highlights • Growth from Asia continued; North America and Europe also showed sustained increases Financial Summary Business Topics Inbou
Slide 14: Japan–China Relations Impact
14 Business Overview: Japan–China Relations Impact FY2026/3 • Chinese visitors have been declining since December 2025, while visitors from other Financial Highlights countries remain on an upward trend Financial Summary • For now, the decline in Chinese guests is expected to be offset by growth in
Slide 15: Impact of Japan-China Relations (cont'd)
15 Business Environment: Impact of Japan-China Relations (cont'd) FY2026/3 • Kanto and Kinki, with high concentrations of Chinese guests, were affected; impact in Financial Highlights other regions was limited Financial Summary • Even if the decline in Chinese guests persists, regional diversificati
Slide 16: Impact of Middle East Situation
16 Business Environment: Impact of Middle East Situation FY2026/3 • Due to the Middle East situation, visitors from the Middle East in March 2026 declined YoY Financial Highlights • European visitors (many of whom transit through Middle Eastern hubs) increased Financial Summary sharply; the full imp
Slide 17: Impact of Middle East Situation (cont'd)
17 Business Environment: Impact of Middle East Situation (cont'd) 2026年3月期決算 • Middle Eastern guests account for less than 1% of total; the impact from a decline is Financial Highlights minimal Financial Summary • European share is approximately 6% — not high, but developments will continue to be Bu
Slide 18: Cumulative Domestic New Hotels
18 New Openings: Cumulative Domestic New Hotels FY2026/3 • 8 hotels opened in FY2026 (ended March 2026) Financial Highlights • 11 new contracts signed in FY2026, maintaining strong order intake pace Financial Summary Business Topics Business Overview Since 2020 By Mar 2030 Business Environment 33 ho
Slide 19: FY2027/3 Earnings Forecast
19 FY2027/3 Earnings Forecast [Before Goodwill Amortization] FY2026/3 (1) Revenue forecast of +12% growth, driven by existing hotel RevPAR +5% and new openings (5 hotels) Financial Highlights (2) Net income impacted by deferred tax assets — approx. ¥3.2B difference in income tax adjustments Financia
Slide 20: Dividend Increase
20 Enhancing Shareholder Value: Dividend Increase FY2026/3 • Dividend increased from initial forecast of ¥3, then revised to ¥4, and further raised to Financial Highlights ¥5 per share, enhancing returns to shareholders Financial Summary • Effective payout ratio, excluding the impact of corporate ta
Slide 21: Appendix
21 FY2026/3 Financial Highlights Financial Summary Business Topics Business Overview Business Environment New Hotel Openings Earnings Forecast Enhancing Shareholder Value Appendix Appendix
Slide 22: Introduction to Domestic Hotel Brands
22 Introduction to Domestic Hotel Brands FY2026/3 • KOKO HOTEL led brand portfolio addresses diverse needs. Financial Highlights • Diverse brand lineup increases new hotel opening opportunities. Financial Summary Business Topics Basic Multi-Person High Value-Added Business Overview 80 Hotels 14 Hote
Slide 23: Domestic Hotels
23 Domestic Hotels Hokkaido FY2026/3 100 Hotels / 14,008 Rooms Financial Highlights Hotels As of May 2026 (including scheduled new openings) 7 Financial Summary Business Topics 1,282 Tohoku / Hokuriku-Shinetsu Business Overview Chugoku / Rooms Business Environment Shikoku Hotels Hotels New Hotel Ope
Slide 24: Upcoming Hotel Openings
Upcoming Hotel Openings 21Hotels /2,178 Rooms 24 FY No. Hotel Name Location Keys Scheme Rent Type Hotel Type FY2026/3 1 KOKO HOTEL Premier Tokyo Bay Makuhari Chiba 301 Newly Built - Limited Service Financial Highlights 2 KOKO HOTEL Residence Oshiage Tokyo 25 Newly Built Fixed + Variable Apartment Ho
Slide 25: Trends in Polaris Hotels & Rooms Operated
25 New Openings: Trends in Polaris Hotels & Rooms Operated FY2026/3 22 hotels scheduled to open from FY2027 (ending March 2027) onward, steadily Financial Highlights building future recurring revenue base Financial Summary Business Topics Number Number of Rooms of Hotels Business Overview 18,000 140
Slide 26: Domestic Limited-Service Hotel Room Ranking
26 Domestic Limited-Service Hotel Room Ranking FY2026/3 Ranked 8th Financial Highlights No. of No. of Financial Summary Rank Operator Brand Listing Hotels Rooms Business Topics 1 APA APA Hotel / the b Unlisted 372 87,107 Business Overview 2 Toyoko Inn Toyoko Inn Unlisted 365 80,117 Business Environm
Slide 27: Fiscal Status
27 Fiscal Status As of March 31, 2025 FY2026/3 Unit: JPY million Financial Highlights Total Assets Interest-bearing Debt Net Worth Equity Ratio Financial Summary Others Retained Earnings Capital Surplus Share Capital Business Topics Fixed Current Long-term Short-term 32,156 27 Business Overview 28,3
Slide 28: Borrowing Status
28 Borrowing Status As of March 31, 2025 FY2026/3 Unit: JPY million Financial Highlights Kiraboshi Bank, 337 , 2% Financial Summary Credit Guarantee Corporation, 171 , 1% Mizuho Bank, 355 , 2% Business Topics RCBC, 146 , 1% Business Overview BDO, 760 , 5% Business Environment New Hotel Openings Shok
Slide 29: Goodwill Amortization
29 Goodwill Amortization FY2026/3 Goodwill is recognized as an intangible asset after the acquisition of Minacia shares. Financial Highlights Financial Summary Polaris emphasizes pre-goodwill-amortization profit metrics as a more accurate reflection of our underlying earnings power. Business Topics
Slide 30: Tax Loss Carryforwards & Deferred Tax Assets
30 Tax Loss Carryforwards & Deferred Tax Assets FY2026/3 • COVID-era losses created large tax loss carryforwards, reducing near-term corporate tax payments. Financial Highlights • With earnings now assessed as stable, the future tax benefit is recognized as a deferred tax asset on the Financial Summ
Slide 31: Shareholder Benefit Expansion
31 Enhancing Shareholder Value: Shareholder Benefit Expansion FY2026/3 Financial Highlights More Attractive Shareholder Benefits Financial Summary • Reduced the minimum shareholding requirement for eligibility to 500 shares. Business Topics • Increased the value of hotel discount vouchers. Business
Slide 32: Five-Year Financial Data
32 Five-Year Financial Data FY2026/3 FY2021/3 FY2022/3 FY2023/3 FY2024/3 FY2025/3 FY2026/3 Financial Highlights Revenue JPY thousand 2,971,588 3,712,127 7,017,664 22,545,288 27,881,446 48,469,321 Financial Summary Ordinary Profit JPY thousand △1,684,631 △1,623,142 △215,243 2,608,746 1,893,262 2,896,
Slide 33: Company Overview
33 Company Overview As of End of March 2026 FY2026/3 Financial Highlights Company Name Polaris Holdings Co., Ltd. Financial Summary Business Topics Date of Establishment September 20, 1912 Business Overview Head Office Location ONE SHINKAWA, 1-23-5 Shinkawa, Chuo-ku, Tokyo Business Environment New H
Slide 34: Collaboration with Star Asia Group
34 Collaboration with Star Asia Group FY2026/3 Operations Investment Financial Highlights Financial Summary Business Topics Providing hotel management Business Overview Providing hotel management opportunities opportunities Business Environment Providing joint investment Ownership of Polaris
Slide 35: Share Information & Shareholder Structure
35 Share Information & Shareholder Structure As of End of March 2026 FY2026/3 Financial Highlights Class of Shares Issued Common Stock Major Shareholders Financial Summary Number of Shareholding Business Topics Shareholder Name Authorized Shares 496,000,000 shares Shares Ratio Business Overview SAJP
Slide 36: Subsidiaries & Affiliates
36 Subsidiaries & Affiliates FY2026/3 Financial Highlights Financial Summary Business Topics Comprehensive Support Agreement Business Overview Star Asia Real Estate Investment Trust Polaris Holdings Star Asia Investment Management Co., Ltd. Business Environment Co., Ltd. New Hotel Openings Star Asia
Slide 37: Notes on Domestic Hotel KPIs
37 Notes on Domestic Hotel KPIs 2026年3月期決算 1. The aggregation includes hotels that were already in operation as of April 2024 and continued to operate as of the end of December 2025. The figures for the previous fiscal year incorporate data from hotels operated by Minacia Co., Ltd., which became a c
Slide 38: Important Notice
38 Important Notice 2026年3月期決算 This document is intended solely to provide information about the Company to shareholders and investors, and does not constitute a solicitation or offer to invest. Furthermore, performance forecasts and forward-looking statements contained herein are based on judgments
Slide 39: Hilo. AFC.
Hilo. AFC. polaris HOLDINGS