Katitas Co. Ltd. · TSE:8919
Katitas — H1 FY2026 Earnings Presentation
54 slides from Katitas's earnings presentation, Nov 9, 2026
Slide 1: Financial Results Presentation for the First Six Months of FY2026
English Version KATITAS Co., Ltd. Financial Results Presentation For the First Six Months of the 49th Fiscal Year Ending March 31, 2027 (FY2026) November 9, 2026 Before After (Securities Code: 8919, Prime Market of TSE)
Slide 2: Presentation Highlights
（TSE Prime 8919） Presentation Highlights Overview of Financial Results for the First Six Months of the 1. FY2026 (Ending March 31, 2027) P3-P13 Fourth Medium-Term Management Plan and 2. Management Plan for FY2026 (Ending March 31, 2027) P15-P26 (Reposted from Financial Results Presentation For the 4
Slide 3: Sales and Operating Profit Trend
（TSE Prime 8919） 1. Sales and Operating Profit Trend (1) Historical Net Sales (FY-base) Historical Operating Profit (FY-base) (JPY MM) (JPY MM) Historical Net Sales (FY2026 2Q YTD) Historical Operating Profit (FY2026 2Q YTD) (JPY MM) (JPY MM) (1) For 2024/3 and 2025/3, adjusted operating profit (adj
Slide 4: Highlights of Financial Results for 2Q FY2026
Highlights of Financial Results （TSE Prime 8919） 1. for 2Q FY2026 (July - September 2026) ◼ Increased construction costs for new housing due to inflation and tighter environmental FY2025 FY2026 (JPY MM) YoY regulations are structural in nature, and the business environment remains favorable 2Q 2Q •
Slide 5: Progress Versus Management Plan for FY2026
Progress Versus Management Plan （TSE Prime 8919） 1. for FY2026 (Ending March 31, 2027) ◼ 1H results were strong and exceeded plan. We remain well positioned to achieve our full-year targets. ✓ Properties sold: In line with target—Given the continued favorable external environment and inventory level
Slide 6: Progress of Various Initiatives under the Medium-Term Management Plan
（TSE Prime 8919） 1. Progress of Various Initiatives under the Medium-Term Management Plan Capture new customer segments Increase sales staff Note: Figures are approximate in 5% Sales mix ratio of low-priced products increments • We aim to accelerate the increase in sales staff by increasing the numb
Slide 7: Number of sales staff
（TSE Prime 8919） 1. Number of sales staff ◼ The number of sales staff increased 10.9% year on year as of September 2026, exceeding the growth assumed when our medium-term management plan was formulated. ◼ We expect 160 new graduates will join KATITAS in April 2027 (initial projection: 150), while 35
Slide 8: Tender Offer Bid for Shares in Toubujyuhan Co., Ltd.
(TSE PRM: 8919) Tender Offer Bid for Shares in Toubujyuhan Co., Ltd. “(Summary) Announcement of Commencement of Tender Offer Bid for Shares in Toubujyuhan Co., Ltd. (Securities Code:3297)” dated October 13, 2026 “(Reference) Tender Offer Bid for Shares in Toubujyuhan Co., Ltd.” (Reposted) ⚫ On Octob
Slide 9: Outline of the TOB and Acquisition as a Wholly-owned Subsidiary
(TSE PRM: 8919) Outline of the TOB and Acquisition as a Wholly-owned Subsidiary “(Summary) Announcement of Commencement of Tender Offer Bid for Shares in Toubujyuhan Co., Ltd. (Securities Code:3297)” dated October 13, 2026 “(Reference) Tender Offer Bid for Shares in Toubujyuhan Co., Ltd.” (Reposted)
Slide 10: Financial Highlights
（TSE Prime 8919） 1. Financial Highlights FY2025 FY2026 (JPY MM) YoY 1Q 2Q 3Q 4Q 2Q YTD Full-year 1Q 2Q 3Q 4Q 2Q YTD vs Q vs Q (%) vs YTD YTD(%) Net sales 35,063 37,352 39,998 39,437 72,415 151,851 43,961 46,025 89,987 +8,673 +23.2% +17,571 +24.3% Number of properties sold 1,976 2,088 2,220 2,096 4,0
Slide 11: Market Conditions for Houses in Regional Areas (KATITAS Areas)
Market Conditions for New and Pre-owned Detached Houses （TSE Prime 8919） 1. in Regional Areas (KATITAS Areas) ◼ The inventory of newly built detached houses remains low in 2026, below pre-COVID-19 levels. ◼ From April to September 2026, newly built detached housing prices increased by 21% compared t
Slide 12: Market Conditions for Houses in Urban Areas (REPRICE Areas)
Market Conditions for New and Pre-owned Detached Houses （TSE Prime 8919） 1. in Urban Areas (REPRICE Areas) ◼ The inventory of newly built detached houses remains low in 2026, below pre-COVID-19 levels. ◼ From April to September 2026, new housing prices increased substantially by 41% compared to pre-
Slide 13: Trends in New Housing Starts
1. Trends in New Housing Starts (Detached Houses in Subdivisions)（TSE Prime 8919） ◼ The number of new housing starts is on a downward trend, driven by structural factors, including rising construction costs for new housing and stricter environmental regulations ◼ The number of housing starts (nation
Slide 14: Presentation Highlights
（TSE Prime 8919） Presentation Highlights Overview of Financial Results for the First Six Months of the 1. FY2026 (Ending March 31, 2027) P3-P13 Fourth Medium-Term Management Plan and 2. Management Plan for FY2026 (Ending March 31, 2027) P15-P26 (Reposted from Financial Results Presentation For the 4
Slide 15: Continuing Steady Business Growth Since Launch of Current Management Team
Continuing Steady Business Growth （TSE Prime 8919） 2. Since Launch of Current Management Team (Reposted from FY2025 4Q) ◼ Current management team established in FY2012. Achieved continuous growth while improving profitability ◼ Number of properties sold rose approx. 3x and operating profit rose appr
Slide 16: Long-Term Vision and Positioning of Fourth Medium-Term Management Plan
Long-Term Vision and （TSE Prime 8919） 2. Positioning of Fourth Medium-Term Management Plan (Reposted from FY2025 4Q) ◼ Our long-term vision is to become the company that enriches people's lives the most in Japan ◼ We achieved tangible results in our third medium-term management plan, which ended in
Slide 17: Aiming to Expand Growth Potential and Accelerate Growth
Aiming to Expand Growth Potential and Accelerate Growth （TSE Prime 8919） 2. In the Fourth Medium-Term Management Plan (Reposted from FY2025 4Q) ◼ We will deepen our existing businesses while advancing into new geographical markets and developing new products that enable us to reach new customer segm
Slide 18: Vision for the Fourth Medium-Term Management Plan (Financial KGI)
Vision for （TSE Prime 8919） 2. the Fourth Medium-Term Management Plan (Financial KGI) (Reposted from FY2025 4Q) ◼ With a focus on vacant houses, rural areas, and adding value to the lifestyle of middle- and low-income earners, our long-term vision is to become the company that enriches people's live
Slide 19: External Environment and Challenges
2. External Environment and Challenges （TSE Prime 8919） in the Fourth Medium-Term Management Plan (Reposted from FY2025 4Q) ◼ Industry and business structure remains resistant to the external environment. Furthermore, changes in the external environment (society and competitive environment) creates
Slide 20: Basic Strategy in Response to Management Challenges
（TSE Prime 8919） 2. Basic Strategy in Response to Management Challenges (Reposted from FY2025 4Q) ◼ We formulated a basic strategy to address the challenges we will focus on during the fourth medium-term plan period and the ongoing challenges from the previous medium-term plan. We aim to accelerate
Slide 21: Capital Allocation
（TSE Prime 8919） 2. Capital Allocation (Reposted from FY2025 4Q) ◼ During the three-year-period of the fourth medium-term management plan, we will invest in strategic inventory (properties with high turnover potential) and pursue the possibility of M&A implementation ◼ Our minimum required equity-to
Slide 22: Management Plan for FY2026
（TSE Prime 8919） 2. Management Plan for FY2026 (Ending March 31, 2027) (Reposted from FY2025 4Q) ◼ We aim for growth of 15.8% in the number of properties sold and 14.9% in operating profit. The operating profit plan incorporates Human capital investment at the same level as in FY2025 from the outset
Slide 23: Dividend Forecast
（TSE Prime 8919） 2. Dividend Forecast (Reposted from FY2025 4Q) ◼ The Fourth Medium-Term Management Plan stipulates a dividend payout ratio of 50% or more and a policy of progressive dividends ◼ The year-end dividend for the fiscal year ended March 2026 is expected to be ¥41.0 per share, an increase
Slide 24: Growth Drivers for KATITAS (1): Enhance Sales Force
（TSE Prime 8919） 2. Growth Drivers for KATITAS (1): Enhance Sales Force (FY2025 Results) (Reposted from FY2025 4Q) ◼ The potential market is sizable both for purchases and sales: A large number of vacant properties exist in Japan, and there is sufficient demand for low-priced housing ◼ Expansion of
Slide 25: Growth Drivers for KATITAS (2): Productivity Improvement
（TSE Prime 8919） 2. Growth Drivers for KATITAS (2): Productivity Improvement (FY2025 Results) (Reposted from FY2025 4Q) ◼ Supported by a favorable business environment, strong sales and proactive purchasing drove productivity in the fiscal year ended March 2026 to a record high ◼ Going forward, we a
Slide 26: Growth Drivers for REPRICE
（TSE Prime 8919） 2. Growth Drivers for REPRICE (FY2025 Results) (Reposted from FY2025 4Q) ◼ As with KATITAS, an increase in sales staff and the maintenance and improvement of productivity are growth drivers ◼ Sales staff headcount increased significantly due to strengthened hiring ◼ Productivity rem
Slide 27: Presentation Highlights
（TSE Prime 8919） Presentation Highlights Overview of Financial Results for the First Six Months of the 1. FY2026 (Ending March 31, 2027) P3-P13 Fourth Medium-Term Management Plan and 2. Management Plan for FY2026 (Ending March 31, 2027) P15-P26 (Reposted from Financial Results Presentation For the 4
Slide 28: Business Model of KATITAS
（TSE Prime 8919） 3. Business Model of KATITAS ◼ KATITAS purchases pre-owned detached houses in regional areas, and renovate them to accommodate today’s living styles before selling them at half the price of newly built houses. ◼ About 80% of properties we purchase are empty, vacant houses. We create
Slide 29: Business Development Areas and Building Ages of the Group
（TSE Prime 8919） 3. Business Development Areas and Building Ages of the Group ◼ KATITAS focuses on regional cities (population 50,000-300,000) and buildings with an average 30 years. It has strengths in in-house sales ability, survey ability, renovation planning ability, and renovation implementatio
Slide 30: Medium and Long Term Expansion with Increased Supply of Vacant Houses
Medium and Long Term Expansion with Opportunities for （TSE Prime 8919） 3. Procurement Based on Increased Supply of Vacant Houses ◼ There is a large number of vacant houses and the number is expected to increase, which provides KATITAS with procurement opportunities ◼ Although a large majority of suc
Slide 31: Fourth Housing Option in Regional Areas: Pre-Owned and Renovated Houses
Fourth Housing Option in Regional Areas: （TSE Prime 8919） 3. Pre-Owned and Renovated Single-Family Houses ◼ KATITAS’ primary target customer base consists of approximately 1.23 million households currently living in rental houses in regional areas, with annual income of JPY2-5 million and the intent
Slide 32: Offering High-Quality Renovated Houses at Reasonable Prices
（TSE Prime 8919） 3. Offering High-Quality Renovated Houses at Reasonable Prices ◼ KATITAS is able to offer renovated houses at roughly half the price of comparable newly built houses, that also offer lower monthly mortgage payments compared to renting ◼ Customers can purchase a home with a mortgage
Slide 33: Consumer Preferences Have Shifted Toward Accepting Pre-Owned Houses
（TSE Prime 8919） 3. Consumer Preferences Have Shifted Toward Accepting Pre-Owned Houses ◼ Increasing number of households with less preference for newly built houses and increasing preference for pre-owned houses even in the Japanese market where traditionally people tend to prefer newly built house
Slide 34: Room for Growth in the Share of Regional Pre-owned Houses
Room for Growth in the Share of Regional Pre-owned Houses （TSE Prime 8919） 3. in Distribution ◼ Lower market share of pre-owned houses compared with United States and Europe ◼ In the Tokyo Metropolitan area, there are many “clean and inexpensive” used condominiums being supplied that their distribut
Slide 35: The Company's Customer Profile
（TSE Prime 8919） 3. The Company’s Customer Profile Customer profile Suburban areas surrounding regional cities Business area (Targeting regions with populations of 50,000 – 300,000) Mainly pre-owned single-family detached houses which have become vacant due to Properties handled events such as inher
Slide 36: Number of Houses Sold is Over 20 Times that of No.2 Ranked Company
（TSE Prime 8919） 3. Number of Houses Sold is Over 20 Times that of No.2 Ranked Company ◼ No.1 among House Reselling Businesses(1) in terms of number of units sold ◼ Established unique positioning by focusing on pre-owned single-family detached houses located in regional cities and regional areas tha
Slide 37: Know-How Accumulated by Selling a Cumulative Total of 90,000 Houses
Our Greatest Strength is the Know-How We Accumulated by Selling a Cumulative Total of （TSE Prime 8919） 3. 90,000 Houses. We Approach Even the Tedious Details with Persistent Care, While Managing Risks to Minimize Failures. ◼ KATITAS has accumulated a stock of “failure cases” through purchasing and s
Slide 38: Examples of Post-Acquisition Failures
（TSE Prime 8919） 3. Examples of Post-Acquisition Failures ◼ Detached houses tend to have highly individual characteristics, and problems can still arise even after thorough inspection. ◼ In some failure cases, the holding period becomes extended, with some properties taking over 20 years from purcha
Slide 39: Competitive Advantage
Barriers to Entry and Competitive Advantages of Our Business Model: （TSE Prime 8919） 3. Economies of Scale Do Not Apply Because Renovations Vary From One House to Another Individual property characteristics Regional characteristics Entry Barrier Property conditions are Economies of scale do not appl
Slide 40: Nationwide Branch Network and High Brand Recognition
（TSE Prime 8919） 3. Nationwide Branch Network and High Brand Recognition ◼ KATITAS maximizes purchasing and sales opportunities by covering geographic areas not or rarely accessed by competitors, including small- and medium-sized cities with populations between 50,000-300,000 ◼ KATITAS has No.1 bran
Slide 41: KATITAS' Advantages in Supplying High-Quality Renovated Homes
KATITAS’ Advantages in Supplying High-Quality Renovated （TSE Prime 8919） 3. Homes at Reasonable Prices ◼ Track record of dealing over 90,000 pre-owned single-family homes, leading to accumulation of know-how (Management of failure) ◼ Conducting efficient procurement and renovation by utilizing organ
Slide 42: KATITAS' ESG and SDGs: Affordable Housing for Low- and Middle-Income Households
KATITAS' ESG and SDGs : Contributing to Acquisition of Affordable （TSE Prime 8919） 3. Housing for Low- and Middle-Income Households There are 9.00 million vacant houses nationwide, Resolving the vacant house issue by a large social problem renovating and distributing vacant houses Affordable houses
Slide 43: KATITAS' ESG and SDGs: Status of Overall Initiatives
（TSE Prime 8919） 3. KATITAS‘ ESG and SDGs: Status of Overall Initiatives KATITAS’ pre-owned house renovation business Independent outside directors: 1/3 of the total ✓ Of those, three are Independent Outside Directors. ✓ Outside Director attendance ratio: 91.7% (4) ✓ Flat Board of Directors operatio
Slide 44: Presentation Highlights
（TSE Prime 8919） Presentation Highlights Overview of Financial Results for the First Six Months of the 1. FY2026 (Ending March 31, 2027) P3-P13 Fourth Medium-Term Management Plan and 2. Management Plan for FY2026 (Ending March 31, 2027) P15-P26 (Reposted from Financial Results Presentation For the 4
Slide 45: History
（TSE Prime 8919） 4. History Date Event Sep. 1978 Established as Yasuragi Co., Ltd., in Kiryu, Gunma Prefecture with ¥10 million in capital to conduct the stone quarrying business Dec. 1988 Acquired a real estate brokerage license and started the real estate sales and agency business In line with the
Slide 46: KATITAS Group Branch List
（TSE Prime 8919） 4. KATITAS Group Branch List（All Own Branches） Branches (As of September 30, 2026) KATITAS ⇒ Nationwide network covering regional ⇒Focus on urban areas small- to medium- sized cities Hokkaido Kanto Koshinetsu, Kansai Shikoku REPRICE Tokai REPRICE Mikawa Sapporo Hachioji Hokuriku Osa
Slide 47: Performance Trend
（TSE Prime 8919） 4. Performance Trend (Reposted from FY2025 4Q) FY2021 FY2022 FY2023 FY2024 FY2025 Net sales 101,269 121,341 126,718 129,537 151,851 YoY +3.6% +19.8% +4.4% +2.2% +17.2% Number of properties sold 6,120 6,927 7,169 7,372 8,380 YoY -0.6% +13.2% +3.5% +2.8% +13.7% Number of properties pu
Slide 48: Merger and Synergies with REPRICE
（TSE Prime 8919） 4. Merger and Synergies with REPRICE (Reposted from FY2025 4Q) ◼ In March 2016, we conducted a merger with REPRICE by acquiring 100% of its shares and thereby removed funding constraints, which was the biggest hindrance to REPRICE’s growth. ◼ We injected our know-how to REPRICE and
Slide 49: Alliance with Nitori Holdings
（TSE Prime 8919） 4. Alliance with Nitori Holdings (Announced on April 28, 2017) ◼ Advantage Partners transferred 34% of KATITAS’ shares to Nitori Holdings for JPY23,300 MM ◼ KATITAS and Nitori entered into an alliance that aims to utilize their respective strengths to provide enriched and more comfo
Slide 50: Progress of Alliance-based Operations (1/2)
（TSE Prime 8919） 4. Progress of Alliance-based Operations(1/2) ◼ Pre-owned houses fitted with Nitori furniture and interior items not only convey a more concrete image of the post-move lifestyle and living space to those considering purchasing, but also have the advantage to the purchaser of incorpo
Slide 51: Progress of Alliance-based Operations (2/2)
（TSE Prime 8919） 4. Progress of Alliance-based Operations(2/2) ◼ "VHS (Virtual Home Staging)" virtually installs Nitori furniture in KATITAS properties. ◼ This can be implemented more easily in terms of cost and furniture delivery logistics than showing a "furnished house“. ◼ VHS increases the succe
Slide 52: Trends in Land Prices - Regional Areas vs Three Metropolitan Areas
（TSE Prime 8919） 4. Trends in Land Prices - Regional Areas vs Three Metropolitan Areas ◼ As land prices in regional areas fluctuate based on actual demand, the level of volatility is lower than that in urban areas. ◼ In addition, with the trend of stable and low land prices, fluctuations in land pri
Slide 53: Changes in Consumption Tax Calculation Methods Related to Litigation
Changes in Consumption Tax Calculation Methods Related to （TSE Prime 8919） 1. Consumption Tax-Related Litigation * Amounts are for illustrative purposes and not actual figures (Reposted from FY2025 4Q) ◼ The method of calculating consumption tax changed as follows in line with the progress of the li
Slide 54: Disclaimer
（TSE Prime 8919） Disclaimer This presentation was prepared solely for the purpose of presenting general background information regarding KATITAS CO., LTD (“KATITAS”) as of the date of this presentation. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any