Tokyu Fudosan Holdings Corp. · TSE:3289
Tokyu Fudosan — Q1 FY2026 Earnings Presentation
78 slides from Tokyu Fudosan's earnings presentation, Aug 6, 2026
Slide 1: Financial Highlights FY2026 First Quarter
Securities Code: 3289 Financial Highlights FY2026 First Quarter (First Three Months) Ended June 30, 2026 August 6, 2026
Slide 2: Forward-looking statements notice
The forecasts and other forward-looking statements in this report are based on currently available information and certain assumptions determined as rational. Consequently, any statements herein do not constitute assurances regarding actual results by the Group. Actual performance may significantly
Slide 3: Highlights
Highlights Full-Year Earnings Forecast Shareholder Return FY2026 Q1 Operating Results (FY2026) (FY2026 Forecast) 〈No change〉 〈No change〉 ✓ Progressed steadily toward the ✓ Targets for FY2027 in medium- ✓ Continued to strengthen full-year earnings forecast term management plan shareholder return alon
Slide 4: Financial Indexes for FY2025 and FY2026
Reprint (FY2025 Presentation Material) Financial Indexes for FY2025 and FY2026 FY2024 FY2025 FY2026 FY2027 FY2030 (Result) (Forecast) (Result) (Forecast) (Target) (Target) Approx. ROE 9.9% 10.7% 11.2% 11% 9.5%-10％ 10％ or more Potential, efficiency Approx. ROA 4.5% 4.8% 5.0% 5.5% 4.7% 5％ or more Appr
Slide 5: Progress of Medium-Term Management Plan 2030 (1)
Reprint (FY2025 Presentation Material) Progress of Medium-Term Management Plan 2030 (1) Exceeded the FY2027 targets ahead of schedule Operating Average EPS Net profit ROE vs. FY2027 target profit growth rate FY2025 Results ¥166.9 billion ¥96.7 billion 11.2% 24.6%/year Exceeded net profit and ROE tar
Slide 6: Progress of Medium-Term Management Plan 2030 (2)
Reprint (FY2025 Presentation Material) Progress of Medium-Term Management Plan 2030 (2) Advancing the goals of “pursuing high growth and efficiency” and “increasing tolerance to market fluctuation risk” set forth in the Medium-Term Management Plan 2030 Pursuing high growth and efficiency Increasing
Slide 7: Review of Medium-Term Management Plan 2030
Reprint (FY2025 Presentation Material) Review of Medium-Term Management Plan 2030 We will update “Medium-Term Management Plan 2030” , formulated last May, and announce the revised plan next year Average EPS Operating profit Net profit ROE growth rate FY2026 Forecast ¥190.0 billion ¥100.0 billion App
Slide 8: Initiatives to Enhance Corporate Value and Market Valuation
Reprint (FY2025 Presentation Material) Initiatives to Enhance Corporate Value and Market Valuation Promote business strengthening and expansion that contribute to the improvement in ROA for the increase in corporate value Main initiatives Growth in income gain PBR ROE ROA ・ Promote the Greater Shibu
Slide 9: Promote Greater Shibuya Area Strategy (1)
Reprint (FY2025 Presentation Material) Promote Greater Shibuya Area Strategy (1) - Initiatives to Strengthen Industrial Development Capability - Implement seamless support according to the growth phase to strengthen industrial development capacity in the Greater Shibuya Area Developing a global star
Slide 10: Promote Greater Shibuya Area Strategy (2)
Reprint (FY2025 Presentation Material) Promote Greater Shibuya Area Strategy (2) - Initiatives to Strengthen Urban Tourism - Expanding business opportunities and revenue by strengthen urban tourism in the Greater Shibuya Area Promote the expansion of functions to spread attractive contents and exten
Slide 11: Promote Greater Shibuya Area Strategy (3)
Reprint (FY2025 Presentation Material) Promote Greater Shibuya Area Strategy (3) Further enhance the appeal of the district, and increase profits in the Greater Shibuya Area Profit in the Greater Shibuya Area*1 FY2024 ¥19 billion FY2025 ¥24 billion (+¥5 billion) FY2030 target ¥30 billion Agreed to r
Slide 12: Trends in Unrealized Gains of Leased Properties
Reprint (FY2025 Presentation Material) Trends in Unrealized Gains of Leased Properties Unrealized gains increased, primarily due to rising office rents FY2025 Office rent increase Average rent increase rate approaches 15%*1 Changes in book value and unrealized gains Changes in NAV per share*2 of lea
Slide 13: Growth of Real Estate Agent Business (1)
Growth of Real Estate Agent Business (1) Highly efficient real estate agent business grew Operating profit margin in real estate agent Top position in the amount of real estate brokerage business was 21.8% (FY2025) transactions*1 for FY2025 (3 consecutive years)*2 Operating profit in real estate age
Slide 14: Growth of Real Estate Agent Business (2)
Reprint (FY2025 Presentation Material) Growth of Real Estate Agent Business (2) Growth of real estate agents business contributed to the improvement in the Company’s efficiency While the market conditions Real Estate Agents business segment remain strong, the number of transactions increased by appr
Slide 15: Shareholder Return
Reprint (FY2025 Presentation Material) Shareholder Return Annual dividend: Increased to 48.0 yen for FY2025; 50.0 yen planned for FY2026 Annual dividend Dividend payout ratio FY2025 48.0 yen (up 11.5 yen YoY / up 3.5 yen from the forecast) FY2025 35.4% (+0.1 pts from the forecast) FY2026 50.0 yen (u
Slide 16: Changes in Share Price, etc.
Changes in Share Price, etc. (May 12, 2022 – July 31, 2026) PBR*1 : 1.05x ｜ P/NAV multiple*2 : 0.76x ｜ PER: 9.5x *1 (as of July 31, 2026) 1,800 yen Share price BPS NAV per share *3 1,756.16 yen 1,700 yen 1,600 yen 1,500 yen 1,400 yen 1,336.5 yen 1,300 yen 1,276.89 yen 1,200 yen 1,100 yen 1,000 yen 9
Slide 17: Business Portfolio Management
Reprint (Mid-term Management Plan 2030) Business Portfolio Management Each business will be subject to fixed-point observation and verification pivoting on two axes, market growth potential and competitive advantage, and we will work to maintain or improve the growth and competitiveness of each busi
Slide 18: Summary of the Financial Results for FY2026 Q1
Summary of the Financial Results for FY2026 Q1 Financial Highlights FY2026 First Quarter (First Three Months) Ended June 30, 2026
Slide 19: Recognition of Major Business Environment
Partly Updated (Underlined blue text) Recognition of Major Business Environment ∙ A gradual upward trend mainly for labor costs continues to be seen. Construction cost ∙ Aim to increase profitability through selective investments in prime locations and further provision of added value. ∙ Domestic in
Slide 20: Recognition of Major Business Environment
Partly Updated (Underlined blue text) Recognition of Major Business Environment ∙ Condominium sales continue to perform well, and sales of properties centered on those in central Tokyo remain strong. Condominiums ∙ Pay close attention to the impact of the mortgage interest rate trends on the custome
Slide 21: FY2026 Q1 Operating Results
FY2026 Q1 Operating Results Steady progress was made toward the full-year earnings forecast. Progress rate against the full-year forecast: 24.5% for operating profit, 25.3% for ordinary profit, and 25.5% for net profit FY2025 FY2026 FY2026 Comparison Progress FY2025 Note (¥ billion) Q1*² Q1 Forecast
Slide 22: FY2026 Q1 Analysis of Operating Profit
FY2026 Q1 Analysis of Operating Profit Overall, operating profit increased by 5.3 billion yen YoY, and profit increased for the Property Management & Operation segment and decreased for the Urban Development segment due to changes in sales to investors, etc. ・Renewable energy business +1.1 billion y
Slide 23: FY2026 Q1 Balance Sheet
FY2026 Q1 Balance Sheet Progress in investments has led to an increase in real estate for sale Long-term ratio of interest-bearing debt at the end of March 2026 was approx. 96%, the fixed ratio was approx. 94%, and the external credit rating for long-term (Japan Credit Rating Agency) was A+ (stable)
Slide 24: Market Value Appraisal for Leased Properties
Reprint (FY2025 Presentation Material) Market Value Appraisal for Leased Properties (As of the end of March 2026) Driven primarily by increasing office rents, market valuations rose, and unrealized gains on investment properties expanded to 498.8 billion yen. NAV per share* : 1,739 yen (up 10.6% fro
Slide 25: Statement of Cash Flows and Investment Plan
Reprint (FY2025 Presentation Material) Statement of Cash Flows and Investment Plan FY2025 investment results : Investments are progressing well, primarily in renewable energy facilities for capital investments as well as rental housing and logistics facilities for real estate for sale FY2026 investm
Slide 26: FY2026 Full-Year Earnings Forecast
Reprint (FY2025 Presentation Material) FY2026 Full-Year Earnings Forecast Forecast for a new record profit due to expectations of strong performance in the sales to investors, etc., sales of condominiums and real estate agents business, with ROE planned at approx. 11%, EPS average growth planned at
Slide 27: FY2026 Analysis of Forecast for Operating Profit
Reprint (FY2025 Presentation Material) FY2026 Analysis of Forecast for Operating Profit Plan to increase operating profit by 23.1 billion yen YoY, driven by a significant increase in profits from the wellness business due to sales to investors, etc., as well as strong performance in the residential
Slide 28: Gains on Sales to Investors and Total Value of Investment
Gains on Sales to Investors and Total Value of Investment Approx. 30% of gains on sales to investors, etc. scheduled for FY2026 have been secured, and steady progress was made toward the full-year sales plan < Trends in gains on sales to investors, etc. > < Sales to investors on the < Total investme
Slide 29: Segment Overview
Segment Overview Financial Highlights FY2026 First Quarter (First Three Months) Ended June 30, 2026
Slide 30: Urban Development (1) FY2026 Q1 Results
Urban Development (1) FY2026 Q1 Results FY2026 Q1 Results: Both revenue and profit decreased due to a decrease in sales to investors, etc., despite the improved occupancy of offices and commercial facilities and an increase in the number of units sold in condominiums, etc. Full-year forecasts: Both
Slide 31: Urban Development (2) Vacancy Rate and Rent Trends and Area
Urban Development (2) Vacancy Rate and Rent Trends and Area Average office rent increase rate exceeds 15%, with all properties agreeing to increases (FY2026 Q1 results). Average office rent continues to show an upward trend, and vacancy rate is at 0.2% (offices and commercial facilities). < Vacancy
Slide 32: Urban Development (3) Major Projects
Reprint (FY2025 Presentation Material) Urban Development (3) Major Projects (Offices and Commercial Facilities, etc.) Large-scale development projects Nishi-Nippori Ekimae Block Nihonbashi 1-chome East Block Jinnan 1-chome BlockWest Osaki Riverwalk Garden Shinjuku West Gate Redevelopment Project Red
Slide 33: Urban Development (4) Major Projects (Greater Shibuya Area)
Reprint (FY2025 Presentation Material) Urban Development (4) Major Projects (Greater Shibuya Area) Several projects, such as Next Shibuya Sakuragaoka Block, Jinnan 1-chome Block and Koen-dori West District Redevelopment, are underway in the Greater Shibuya Area. Redevelopment Project Commercial faci
Slide 34: Urban Development (5) Supporting the growth of startups
Reprint (FY2025 Presentation Material) Urban Development (5) Supporting the growth of startups and fostering co-creation in the Greater Shibuya Area Enhance the value of Shibuya in tandem with the growth of our tenant companies such as startups and our own company, thereby creating a virtuous cycle
Slide 35: Urban Development (6) Office Market
Urban Development (6) Office Market In Shibuya-ku, average rent increased significantly due to tight supply-demand balance, and new supply is expected to be limited compared to other areas in central Tokyo Trends in market vacancy rates and average rents in Chiyoda, Chuo, Minato, Shinjuku, Shibuya A
Slide 36: Urban Development (7) Condominiums Performance Index
Urban Development (7) Condominiums Performance Index Contract ratio for condominiums increased to 82% (as of the end of FY2026 Q1) Accounting year FY2024 FY2025 FY2026 Plan Operating revenue ¥84.8 billion ¥80.4 billion ¥119.9 billion Average price per unit (¥ million/unit) 84 89 99 (Q1: 118) No. of
Slide 37: Urban Development (8) Condominiums Land Bank
Reprint (FY2025 Presentation Material) Urban Development (8) Condominiums Land Bank Excellent land bank centered on redevelopment projects in central Tokyo Construction has already started for all high-rise condominiums to be delivered by the fiscal year ending March 2030 < Land bank > As of March 3
Slide 38: Urban Development (9) Rental Housing Business
Reprint (FY2025 Presentation Material) Urban Development (9) Rental Housing Business (For Sales to Investors) Steadily increase investments mainly in prime locations, while rotating assets Projects acquired (As of March 31, 2026) Major projects Properties in operation: 54 / Projects under developmen
Slide 39: Strategic Investment (1) FY2026 Q1 Results
Strategic Investment (1) FY2026 Q1 Results FY2026 Q1 Results: Operating profit improved by 1.2 billion yen due to an increase in electricity sales in the Renewable Energy business and improvement of profit and loss during period in the Overseas business, etc. Full-year forecasts: Both revenue and pr
Slide 40: Strategic Investment (2) Power Generation Facilities Portfolio
Reprint (FY2025 Presentation Material) Strategic Investment (2) Renewable Energy Business Power Generation Facilities Portfolio We distribute and own the highest rated capacity in Japan throughout the country, and approximately 70% of the secured projects are FIT projects Projects acquired (As of Ma
Slide 41: Strategic Investment (3) Trends in Profit from Electricity Sales
Strategic Investment (3) Renewable Energy Business Trends in Profit from Electricity Sales Increased profit from electricity sales with the increase in the number of facilities in operation Trends in profit from electricity sales *1 at facilities in operation Business Strategy: Expand both the power
Slide 42: Strategic Investment (4) Renewable Energy Value Chain
Reprint (FY2025 Presentation Material) Strategic Investment (4) Renewable Energy Business Value Chain Aim for profit growth based on a strong renewable energy business value chain Value chain for the Group’s renewable energy business Asset business Non-asset business Asset Aggregation Land Power pla
Slide 43: Strategic Investment (5) O&M and PPA
Strategic Investment (5) Renewable Energy Business O&M and PPA Non-asset businesses, which we are actively strengthening, are seeing steady growth in our O&M*1 and retail power (PPA*2) operations O&M Contract Offsite PPA business partners Management Capacity Trends (examples) The managed capacity ex
Slide 44: Strategic Investment (6) Market Forecast
Reprint (FY2025 Presentation Material) Strategic Investment (6) Renewable Energy Business Market Forecast In February 2025, the Seventh Strategic Energy Plan was approved by the cabinet and the energy mix target for fiscal 2040 was officially announced Total electricity generation in fiscal 2040 is
Slide 45: Strategic Investment (7) Business Characteristics
Reprint (FY2025 Presentation Material) Strategic Investment (7) Renewable Energy Business Business Characteristics High long-term stability and efficiency that increases over time Business characteristics: High long-term stability and (Reference) Trends in capital costs for solar power efficiency, w
Slide 46: Strategic Investment (8) Industry Business
Reprint (FY2025 Presentation Material) Strategic Investment (8) Industry Business (Logistics Facilities, etc.) The acquisition and leasing of prime location projects are steadily progressing, continue rotating assets. Projects acquired (as of March 31, 2026) Major projects Properties in operation: 8
Slide 47: Strategic Investment (9) Overseas Operations
Reprint (FY2025 Presentation Material) Strategic Investment (9) Overseas Operations Multiple projects underway in the United States and Asia 26 projects across 8 countries*2 43 projects across 10 urban regions In-house development performance: Leasable area in operation: Asian business approx. 7,500
Slide 48: Strategic Investment (10) Overseas Operations (U.S.)
Reprint (FY2025 Presentation Material) Strategic Investment (10) Overseas Operations (U.S. Business) We will work to improve profitability and secure stable profits by investing in preferred equity and long-term ownership investments / The occupancy rate for rental housing is maintained at over 90%
Slide 49: Strategic Investment (11) Overseas Operations (Asia)
Reprint (FY2025 Presentation Material) Strategic Investment (11) Overseas Operations (Asian Business) Multiple projects underway in Asia in cooperation with excellent partners Asian business, investment amount by country Major projects in Thailand Other China Secured multiple projects, including log
Slide 50: Property Management & Operation (1) FY2026 Q1 Results
Property Management & Operation (1) FY2026 Q1 Results FY2026 Q1 Results: Revenue and profit increased due to an increase in sales to investors, etc. Full-year forecasts: Both revenue and profit increase due to increase in sales to investors, etc., while hotel business is expected to remain strong, p
Slide 51: Property Management & Operation (2) Management Stock
Reprint (FY2025 Presentation Material) Property Management & Operation (2) Management Business: Management Stock, etc. Top-class management track record in the industry with solid reliability and high-quality services utilizing the expertise in a wide range of business fields Condominiums Buildings
Slide 52: Property Management & Operation (3) Hotel Business
Property Management & Operation (3) Hotel Business: Major Projects and Operational Status, Etc. RevPAR continues to increase; despite a decline in Chinese guests, the total number of inbound guests continues to increase due to growth in guests from other countries and regions. We will pursue the acq
Slide 53: Real Estate Agents (1) FY2026 Q1 Results
Real Estate Agents (1) FY2026 Q1 Results FY2026 Q1 Results: While brokerage in the real estate agents business remained strong, revenue and profit decreased due to the delay in recording of real estate sales. Full-year forecasts: Both revenue and profit will increase, driven primarily by continued s
Slide 54: Real Estate Agents (2) Retail
Real Estate Agents (2) Real Estate Agents Business (Retail) Commission income +18.3%, amount of transactions +15.8%, number of transactions +4.0% (YoY increase rate of the results for FY2026 Q1) Commission income continued to increase, accompanied by an increase in the number of transactions due to
Slide 55: Real Estate Agents (3) Wholesale
Real Estate Agents (3) Real Estate Agents Business (Wholesale) Commission income +1.9%, amount of transactions +2.4%, average handling price +13.5% (YoY increase rate of the results for FY2026 Q1) Both commission income and amount of transactions are on an upward trend due to the strengthening of in
Slide 56: Real Estate Agents (4) Most Effective Use of Real Estate Information
Reprint (FY2025 Presentation Material) Real Estate Agents (4) Real Estate Agents Business (Most Effective Use of Real Estate Information) Make the most effective use of real estate information obtained from extensive customer contact points in a wide range of business areas Real estate sales agent R
Slide 57: Real Estate Agents (5) Management Properties in Rental Housing Service
Reprint (FY2025 Presentation Material) Real Estate Agents (5) Management Properties in Rental Housing Service Plans to continue increasing the number of managed units, which is the largest in the industry Rental housing management stock trends (As of March 31, 2026) Properties under management (thou
Slide 58: Sustainability and DX Initiatives
Sustainability and DX Initiatives Financial Highlights FY2026 First Quarter (First Three Months) Ended June 30, 2026
Slide 59: Materiality and KPI
Materiality and KPI We will aim to achieve non-financial KPI based on materialities Themes to work on (Materialities) Target indicators FY2025 Result *3 FY2030 Targets*4 ・ Customer satisfaction level*1 90.7% 90% or more Create a variety of lifestyles ・ Products and services that contribute to Cumula
Slide 60: Human Capital Strategy
Human Capital Strategy We've set human capital KPIs for each strategy. Human capital Measures Human capital KPI FY2025 Results (YoY) Target Outcomes Results for FY2025 or April 2026 Actual strategies Dissemination of 1. Degree of personal investment in achieving the 90% [±0] 90% (FY2025) long-term v
Slide 61: Corporate Governance
Corporate Governance Establish a governance system that contributes to ensuring sound and transparent management and strengthening the framework for advancing the long-term management policy < Corporate Governance Structure > < System of Remuneration for Officers > Improved linkage between achieveme
Slide 62: Sustainable Management External Evaluation
Sustainable Management ❬External Evaluation❭ Selected as a constituent of the FTSE4Good Index Series for a cumulative total of 17 consecutive years, ranked 7th among all sectors in Japan and with the highest score of 4.8 in the domestic real estate sector. Selected for the CDP’s “A List”, the highes
Slide 63: DX Initiatives
DX Initiatives Selected for the “Digital Transformation Stocks 2026” (hereinafter “DX Stocks”) ・Selected for DX Stocks for the second time ・Recognition of our business's efforts to realize cutting-edge digital transformation through our DX vision, "Digital Fusion: Removing All Boundaries with the Po
Slide 64: Status of dialogue with investors and analysts
Reprint (FY2025 Presentation Material) Status of dialogue implementation with investors and analysts We continued engaging with investors and analysts to aid our sustainable growth and build our organization’s value over the long term. IR events organized Main themes of our dialogue with investors a
Slide 65: Fact Sheets
Fact Sheets Financial Highlights FY2026 First Quarter (First Three Months) Ended June 30, 2026
Slide 66: Consolidated Statements of Income
Consolidated Statements of Income (\ billion) FY2025 FY2026 FY2026 Forecast FY2022 FY2023 FY2024 Q1 Q2 Q3 Full-year Q1 vs. FY2025 vs. FY2025 Operating revenue 1,005.8 1,103.0 1,150.3 288.0 591.3 832.2 1,246.0 285.8 (2.2) 1,400.0 +154.0 Urban Development 346.1 365.4 348.8 98.3 213.8 263.7 399.9 72.3
Slide 67: Consolidated Balance Sheet
Consolidated Balance Sheet (¥ billion) FY2022 FY2023 FY2024 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Mar-31, Mar-31, Mar-31, Forecast Q1 Q2 Q3 Full-Year Q1 2023 2024 2025 Vs. FY2025 vs. FY2025 Cash and deposits 171.0 246.6 160.9 200.9 188.5 167.4 187.8 152.7 (35.1) － － Real estate
Slide 68: Major Indicators, etc.
Major Indicators, etc. (¥ billion) FY2022 FY2023 FY2024 FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 Mar-31, Mar-31, Mar-31, Forecast Q1 Q2 Q3 Full-Year Q1 2023 2024 2025 Vs. FY2025 vs. FY2025 ROA *1 4.1% 4.2% 4.5% － － － 5.0% － － Approx. 5.5% － Equity ratio *2 25.0% 24.8% 25.3% 24.9%
Slide 69: Asset Breakdown by segment and Leased Properties
Reprint (FY2025 Presentation Material) Asset Breakdown by segment and Leased Properties (¥ billion) Asset Breakdown by Segment FY2021 FY2022 FY2023 FY2024 FY2025 (Before Elimination) Mar-31, 2022 Mar-31, 2023 Mar-31, 2024 Mar-31, 2025 Mar-31, 2026 Urban Development 1,627.5 1,644.1 1,707.9 1,713.8 1,
Slide 70: Interest-bearing Debt and related indicators
Interest-bearing Debt and related indicators (¥ billion) FY2025 Mar-31, 2026 FY2026 Mar-31, 2027 FY2026 Mar-31, 2027 FY2022 FY2023 FY2024 Forecast Mar-31, Mar-31, Mar-31, Interest-Bearing Debt 2023 2024 2025 Q1 Q2 Q3 Full-year Q1 Vs. FY2025 vs. FY2025 Long-term borrowings 1,046.5 1,152.8 1,201.8 1,2
Slide 71: Consolidated Statement of Cash Flows and Investments
Reprint (FY2025 Presentation Material) Consolidated Statement of Cash Flows and Investments (\ billion) FY2024 FY2025 Cash Flows FY2021 FY2022 FY2023 Q2 Full-year Q2 Full-year (consolidated base) Vs. FY2024 Net cash provided by (used in) operating activities 76.5 94.7 156.5 (34.4) 47.4 12.6 129.5 +8
Slide 72: Trends in Operating Revenue by segment
Trends in Operating Revenue by segment (\ billion) FY2025 FY2026 FY2026 Forecast FY2022 FY2023 FY2024 Q1 Q2 Q3 Full-year Q1 Vs. FY2025 vs. FY2025 Operating revenue 1,005.8 1,103.0 1,150.3 288.0 591.3 832.2 1,246.0 285.8 (2.2) 1,400.0 +154.0 Urban Development 346.1 365.4 348.8 98.3 213.8 263.7 399.9
Slide 73: Trends in Operating Profit by segment
Trends in Operating Profit by segment (\ billion) FY2025 FY2026 FY2026 Forecast FY2022 FY2023 FY2024 Q1 Q2 Q3 Full-year Q1 Vs. FY2025 vs. FY2025 Operating profit 110.4 120.2 140.8 41.3 78.8 104.1 166.9 46.6 +5.3 190.0 +23.1 Urban Development 58.6 53.2 70.5 21.6 42.9 49.2 75.2 11.6 (10.0) 75.3 +0.1 O
Slide 74: Operating Profit Target by Segment
Reprint (FY2025 Presentation Material) Operating Profit Target by Segment (Medium-term Management Plan as of the announcement in May 2025 ) (\ billion) FY2024 FY2025 FY2026 FY2027 FY2030 Result Result Forecast Target Target Operating profit 140.8 166.9 190.0 170.0 220.0 or more Urban Development 70.
Slide 75: Trend in Sales to Investors, etc.
Trend in Sales to Investors, etc. (¥ billion) FY2025 FY2026 FY2026 Forecast FY2022 FY2023 FY2024 Q1 Q2 Q3 Full-year Q1 Vs. FY2025 vs. FY2025 Operating revenue 176.7 225.7 182.4 46.2 104.3 116.9 255.5 31.0 (15.2) 332.7 +77.2 Urban Development 142.6 163.0 140.0 46.2 104.3 111.0 193.1 11.5 (34.7) 230.8
Slide 76: Major KPI in Each Business (1)
Major KPI in Each Business (1) FY2025 FY2026 FY2026 Mar-31, 2027 FY2022 FY2023 FY2024 Mar-31, 2026 Mar-31, 2027 Forecast Vacancy Rate and Rent Mar-31, Mar-31, Mar-31, 2023 2024 2025 Q1 Q2 Q3 Full-year Q1 Vs. FY2025 vs. FY2025 Vacancy rate 1.1% 4.8% 0.3% 0.3% 0.6% 0.7% 0.7% 0.2% (0.5)pt － － (Offices
Slide 77: Major KPI in Each Business (2)
Major KPI in Each Business (2) FY2025 FY2026 FY2026 Mar-31, 2027 FY2022 FY2023 FY2024 Mar-31, 2026 Mar-31, 2027 Forecast Stock of Properties Under Management Mar-31, Mar-31, Mar-31, 2023 2024 2025 Q1 Q2 Q3 Full-year Q1 Vs. FY2025 vs. FY2025 Condominium [thousand units] 868 845 815 845 843 842 832 85
Slide 78: For a Vibrantly Shining Future
FOR A VIBRANTLY SHINING FUTURE WE ARE GREEN @ TOKYU FUDOSAN HOLDINGS
Tokyu Fudosan Holdings — Q1 FY2026 Earnings Presentation on 6ix