Mitsui Fudosan Co., Ltd. · TSE:8801
Mitsui Fudosan — FY2025 Earnings Presentation
27 slides from Mitsui Fudosan's earnings presentation, May 13, 2026
Slide 1: Financial Results and Business Highlights for Summary of FY2025
Financial Results and Business Highlights for Summary of FY2025 I will present in detail the full-year results for the fiscal year ended March 2026. Similar to last time, I will use the Financial Results and Business Highlights presentation dated May 13, which is available on our website. As usual,
Slide 2: FY2025 results highlights and FY2026 forecasts
Financial Results and Business Highlights for Summary of FY2025 As indicated in the blue box on the upper part of the page and the figures in the table, in FY2025 we achieved YoY growth for each of operating revenue, operating income, business income, ordinary income and profit attributable to owner
Slide 3: EPS growth, ROE and strategic equity holdings reduction
Financial Results and Business Highlights for Summary of FY2025 Returning to the box on the lower right, as a consequence of these forecasts, we project a 3-year CAGR of 10.3% for growth metric EPS growth. We are expecting to significantly exceed the FY2026 CAGR target of 8% EPS growth and project a
Slide 4: Shareholder returns
Financial Results and Business Highlights for Summary of FY2025 With regard to shareholder returns, please turn to page 4. Based on the overshoot of our net profit forecast and reflecting the dividend policy set out in & INNOVATION 2030 for a dividend payout ratio of around 35%, we have raised our a
Slide 5: Profit and loss statement
Financial Results and Business Highlights for Summary of FY2025 I will now explain the results in detail. Please turn to page 65 of the Financial Results and Business Highlights presentation. I will start with the profit and loss statement. FY2025 operating revenue was 2 trillion, 709.7 billion yen,
Slide 6: Non-operating items
Financial Results and Business Highlights for Summary of FY2025 Next, before covering the details of the segment results, please return to the table on the left. I will discuss the major items below the line. I will begin with non-operating income. We incurred a loss of 4.3 billion yen in equity in
Slide 7: Extraordinary gains and losses
Financial Results and Business Highlights for Summary of FY2025 Next, for extraordinary gains and losses, please refer to the box on the upper right entitled Extraordinary Income. We posted 51.7 billion yen in extraordinary gains from the disposal of tangible assets. This is in line with the policy
Slide 8: Corporate tax and non-controlling interests
Financial Results and Business Highlights for Summary of FY2025 Please return to the table on the left. As shown on the fourth line from the bottom, corporate tax was 125.1 billion yen. Net losses attributable to non-controlling interests, shown in the second row from the bottom on the table, was a
Slide 9: Leasing segment
Financial Results and Business Highlights for Summary of FY2025 Please turn to the next page. I will now cover the segment results in detail. First, the Leasing segment, as shown on slide 67 of the presentation. Reflecting growth in revenues and profits from offices in Japan and overseas, such as To
Slide 10: Property Sales segment
Financial Results and Business Highlights for Summary of FY2025 Next is the Property Sales segment. Please turn to page 68. As shown at the very top of the page, FY2025 operating revenue for Property Sales as a whole was 729.2 billion yen and business income was 193.1 billion yen. This represents a
Slide 11: Property Sales to Investors and Overseas Individuals
Financial Results and Business Highlights for Summary of FY2025 Next is Property Sales to Investors and Overseas Individuals. Please return to the top of the page. Operating revenue was 289.9 billion yen, down 54.5 billion yen YoY. Business income for the subsegment was 81.1 billion yen, the combina
Slide 12: Management segment
Financial Results and Business Highlights for Summary of FY2025 Next the Management segment. Please turn to page 69. As shown on the top of the page, the overall Management segment reported FY2025 operating revenue of 511.4 billion yen and business income of 80.8 billion yen. This is a 25.1 billion
Slide 13: Facility Operations segment
Financial Results and Business Highlights for Summary of FY2025 Next is the Facility Operations segment. Please turn to page 70. The overall Facility Operations segment reported FY2025 operating revenue of 244.1 billion yen and business income of 46.3 billion yen. This represents YoY increases of 20
Slide 14: Other segment
Financial Results and Business Highlights for Summary of FY2025 Next is the Other segment. Please turn to page 71. Overall, the Other segment reported FY2025 operating revenue of 288.2 billion yen and business income of 10.1 billion yen. The improved margin at the New Construction under Consignment
Slide 15: Overseas business
Financial Results and Business Highlights for Summary of FY2025 Next, for reference, we show figures for the Overseas business. Please turn to page 72. Overall combined Overseas business income for FY2025 was 31.3 billion yen, up 4 billion yen YoY. Within the Overseas business, Leasing saw improved
Slide 16: Balance sheet
Financial Results and Business Highlights for Summary of FY2025 Next, I will cover the balance sheet. Please turn to page 73. At the bottom of the page on the left, total assets as of the end of FY2025 were 10 trillion 103.4 billion yen, up 243.6 billion yen from the end of the previous fiscal year,
Slide 17: Real property for sale changes
Financial Results and Business Highlights for Summary of FY2025 I will now discuss the major components of changes such as cost recovery. Please turn to page 74. As shown in the table on the upper left entitled Real Property for Sale, the outstanding balance was 2 trillion 603 billion yen, up 102.3
Slide 18: Tangible and intangible assets and liabilities
Financial Results and Business Highlights for Summary of FY2025 Next, on the lower left, the outstanding balance of Tangible and Intangible Assets was 4 trillion 679.1 billion yen, down 28.3 billion yen from the end of the previous fiscal year. As shown in the table below, there were new investments
Slide 19: Rental property market value and unrealized gains
Financial Results and Business Highlights for Summary of FY2025 As it is the end of the fiscal year, we also revalued our rental properties, marking them to market. Please turn to page 75. As you can see in the table on the upper part of the page, market value as of the end of FY2025 was 7 trillion
Slide 20: FY2026 forecasts
Financial Results and Business Highlights for Summary of FY2025 Next, I will explain in detail our forecasts for the fiscal year ending March 2027. Please turn to page 78. Our forecast for FY2026 business income is 450 billion yen, up 4.8 billion yen from FY2025. We also project a 6.3 billion yen Yo
Slide 21: FY2026 segment forecasts: Leasing and Property Sales
Financial Results and Business Highlights for Summary of FY2025 I will now elaborate on the segment breakdown. First, for the Leasing segment, while we expect an increase in expenses on the back of the completion of domestic office properties such as Tokyo Midtown Nihonbashi and US rental properties
Slide 22: Property Sales to Domestic Individuals and Investors forecasts
Financial Results and Business Highlights for Summary of FY2025 With regard to Property Sales to Domestic Individuals, please see the box on the left on page 79. We expect to report 2,700 units, the combined total of condominium and detached housing units, and are guiding for an OPM of 21%, similar
Slide 23: Management, Facility Operations and Other forecasts
Financial Results and Business Highlights for Summary of FY2025 Next, please return to page 78, for the Management segment. As a result of the absence of the one-off management fees reported in FY2025, we are projecting operating revenues of 510 billion yen and business income of 75 billion yen, bot
Slide 24: FY2026 forecast summary and Middle East conflict impact
Financial Results and Business Highlights for Summary of FY2025 In summary, we project FY2026 operating revenue of 2.8 trillion yen, up 90.2 billion yen, business income of 450 billion yen, up 4.8 billion yen, ordinary income of 315 billion yen, up 1.6 billion yen and profit attributable to owners o
Slide 25: Investments and cost recovery forecast
Financial Results and Business Highlights for Summary of FY2025 Next, I would like to return to page 79 to discuss investments and cost recovery again, using the table on the right. Investments in tangible and intangible assets in FY2026 are projected to be 300 billion yen, primarily focused on dome
Slide 26: Cash allocation track record
Financial Results and Business Highlights for Summary of FY2025 Finally, on cash allocation, please turn to page 18. Our cumulative track record for FY2024 and FY2025 is shown in the table on the right. Of the projected cash inflow, cumulative asset turnover proceeds for the 2 years of FY2024 and FY
Slide 27: Shareholder returns and closing remarks
Financial Results and Business Highlights for Summary of FY2025 On shareholder returns, the combined total of dividends and share buybacks is approximately 320 billion yen, roughly 80% of our target. As a result, both cash inflows and outflows stand at around 2.2 trillion yen, for a progress rate of