Meiwa Estate Co. Ltd. · TSE:8869
Meiwa Estate — H1 FY03/26 Earnings Presentation
82 slides from Meiwa Estate's earnings presentation, Nov 10, 2025
Slide 1: Financial Results for 1H FY03/26
MEIWA ESTATE Co., Ltd. (8869) Financial Results for 1H FY03/26 November 10, 2025
Slide 2: Table of Contents
Table of Contents Summary Consolidated Financial Statements 1H FY03/26 Shareholder Returns Progress of the Strategy 2027 Residential Development Business Real Estate Agency Business Condominium Management Business Fact Sheet Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 3: Summary
Summary In 1H FY03/26, net sales and profits increased YoY Net sales: up 69% YoY Operating profit: up 185% YoY Ordinary profit: up 223% YoY Net profit: up 194% YoY Net sales and profit increased significantly YoY, as condominium deliveries were concentrated in 1H Full-year forecast and divid
Slide 4: Consolidated Financial Statements 1H FY03/26
Consolidated Financial Statements 1H FY03/26
Slide 5: Summary of Results for 1H FY03/26
Summary of Results for 1H FY03/26 Consolidated Financial Results for 1H FY03/26 Net sales and profits increased YoY, mainly due to an increase in condominium deliveries Net sales: ¥58.9 billion (up 69% YoY) Operating profit: ¥7.7 billion (up 185% YoY) Ordinary profit: ¥6.9 billion (up 223% YoY
Slide 6: Summary of Results for 1H FY03/26
Summary of Results for 1H FY03/26 In the Residential Development Business, steady progress was made toward achieving the full- year forecast on the back of solid demand Condominiums exceeded the full-year net sales plan (as of the end of 1H) In the Real Estate Agency Business, net sales and pr
Slide 7: Consolidated Financial Results 1H FY03/26
Consolidated Financial Results 1H FY03/26 Net sales: ¥58.9 billion (up ¥24.1 billion YoY) Operating profit: ¥7.7 billion (up ¥5.0 billion YoY), Ordinary profit: ¥6.9 billion (up ¥4.8 billion YoY) （Millions of yen） 1H FY03/25 1H FY03/26 Change FY03/26 Progress Change Forecast Actual Actual (%) （A
Slide 8: Factors Behind Change in Net Sales by Segment
Factors Behind Change in Net Sales by Segment The number of condominium deliveries increased YoY, which resulted in an increase in net sales Analysis of factors behind change in net sales Positive Negative (Millions of yen) change change Condominium Leasing and Management Related Others 58,991 +26
Slide 9: Factors Behind Change in Operating Profit by Segment
Factors Behind Change in Operating Profit by Segment Profit increased YoY due to an increase in the number of condominium deliveries Analysis of factors behind change in operating profit Positive change Negative change （Millions of yen） Real Estate Agency 7,707 +349 （+5,003） Condominium Leasing an
Slide 10: Factors Behind Change in Operating Profit by Accounting Item
Factors Behind Change in Operating Profit by Accounting Item Gross profit rose significantly, absorbing an increase in SG&A expenses, and operating profit rose YoY Analysis of factors behind change in operating profit Positive change Negative change （Millions of yen） Increase in SG&A 7,707 -225 （+
Slide 11: Residential Development Business: Delivery Schedule
Residential Development Business: Delivery Schedule New condominium deliveries are concentrated in 1H FY03/26 (sales recorded upon completion and delivery) 520 units have been delivered as planned in 1H, and net sales and profits rose significantly YoY FY03/26 Delivery schedule (unit basis) *Onl
Slide 12: Change of Reporting Segments
Change of Reporting Segments Due to a review of the performance management, transactions of "Land and Buildings," such as the sale of land, which were included in the "Residential Development Business" until the previous fiscal year, are now included in the "Real Estate Agency Business" (effective
Slide 13: [Ref.] Composition of Net Sales
[Ref.] Composition of Net Sales Composition of net sales Leasing and Leasing and (Millions of yen) Related Related 384 324 (1.1%) Others (0.5%) Others Condominium 51 Condominium 78 Management (0.1%) Management (0.1%) 2,961 3,227 (8.5%) (5.5%) Real Estate Agency Real Estate 1H 14,842 1H Agency (25.2%
Slide 14: [Ref.] Composition of Segment Profit
[Ref.] Composition of Segment Profit Composition of segment profit （Millions of yen） 1H FY03/25 1H FY03/26 Change Segment Change Actual Actual (%) Residential 1,784 6,400 4,616 258.8% Development Real Estate Agency 938 1,287 349 37.2% Condominium 182 243 60 33.2% Management Leasing and 143 121 -22 -
Slide 15: Shareholder Returns
Shareholder Returns
Slide 16: Shareholder Returns: Dividends
Shareholder Returns：Dividends We plan a commemorative dividend of ¥5 to mark our 40th anniversary in April 2026 We plan to pay a dividend of ¥45 per share for FY03/26 (Unchanged from the previous forecast) Basic policy of dividends Dividends Dividends per share actual Dividends per share plan Th
Slide 17: Shareholder Returns: Revision of the Shareholders Benefits Program
Shareholder Returns: Revision of the Shareholders Benefits Program A revision to the shareholders benefits program was announced on August 8, 2025 The revised shareholders benefits program will be applied from March 31, 2026 Shareholder benefit points are awarded based on the number of shares he
Slide 18: An Additional Long-term Holding Bonus Points
An Additional Long-term Holding Bonus Points Long-term holding bonus points will be awarded to shareholders who are listed or recorded under the same shareholder number in the shareholder registry as holding 1,000 shares or more for three or more consecutive times as of the record dates of March 3
Slide 19: Progress of the Strategy 2027
Progress of the Strategy 2027
Slide 20: Strategy 2027 Progress (Quantitative)
Strategy 2027 Progress (Quantitative)* In FY03/26 (the second year of the Strategy 2027), the full-year forecast is set to exceed the Strategy 2027 target, and progress is steady We have secured sufficient sales materials in the Residential Development Business and Purchase and Resale Business f
Slide 21: Progress of the Strategy 2027
Progress of the Strategy 2027 Achieved the Strategy 2027 target for FY03/25, the first year of the plan The full-year forecast for FY03/26 is set to surpass the Strategy 2027 target （Billions of yen） FY03/25 FY03/26 FY03/27 Target Actual Change Target Forecast Change Target Net sales 79.0 79.9 +
Slide 22: Total Sales Materials for the Residential Development Business and Wealth Solution Business
Total Sales Materials for the Residential Development Business and Wealth Solution Business Secured enough sales materials for FY03/26 Total secured sales materials in the Residential Development Business and Wealth Solution Business for FY03/27 is in line with the Strategy 2027 Residential Deve
Slide 23: Residential Development Business: Progress Against Sales Targets
Residential Development Business: Progress Against Sales Targets For FY03/26, the total of net sales recorded and contracts concluded exceeded the Strategy 2027 target and the full-year forecast Residential Development Business sales materials * Only for new condominiums Purchased, not supplied* (
Slide 24: Real Estate Agency Business, Wealth Solution: Progress Against Sales Targets
Real Estate Agency Business, Wealth Solution: Progress Against Sales Targets In properties available for sale in FY03/26, some properties that were planned to be sold in FY03/27 after leasing have been sold in FY03/26 to focus on turnover. Wealth Solution Business sales materials Target (Billions
Slide 25: Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets
Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets Secured sufficient sales materials for FY03/26 Forecast net sales are ¥20 billion, which will exceed the Strategy 2027 target Purchase and Resale sales materials (Billions of yen) Sales materials 38.4 Currently leas
Slide 26: Strategy 2027 Progress (Qualitative)
Strategy 2027 Progress (Qualitative) Key takeaway 1: A company that pursues high-quality housing and is to be chosen by customers In the Residential Development Business, we pursue high-quality housing. Utilizing our business model that includes construction, sales, and management, we carefully se
Slide 27: Key Takeaway 1: Received the Good Design Award 2025
Key Takeaway 1: Received the Good Design Award 2025 “CLIO Yokohama Center Kita Grand Chic” and “CLIO la belle vie Chuo Minato” received the Good Design Award 2025 from the Japan Institute of Design Promotion Awarded to two properties simultaneously for two consecutive years ZEH-M Oriented Yokohama
Slide 28: Key Takeaway 1: Carefully Selected Purchases in Good Locations
Key Takeaway 1: Carefully Selected Purchases in Good Locations Sales are progressing well of carefully selected purchases in good locations All units All units sold* sold* • A 1-minute walk from Kanagawa-shinmachi station, the area in front of which • A 3-minute walk to Center Kita station along a
Slide 29: Key Takeaway 1: The Pursuit of High-Quality Housing
Key Takeaway 1: The Pursuit of High-Quality Housing The sales ratio of condominiums over ¥100 million is increasing Composition of the Company’s newly built condominiums in the Tokyo Metropolitan Area by price range *Price base 0.6% 2.8% 6.5% 16.2% 0.4% 8.6% 1.1% 10.8% 1.6% 12.3% ¥300 million~ 22.
Slide 30: Key Takeaway 1: SUUMO AWARD 2025
Key Takeaway 1: SUUMO AWARD 2025 In the SUUMO AWARD 2025 Tokyo Metropolitan Area, we received the Excellence Award for the Condominium Developer and Sales Company in energy saving category for the second consecutive year We will continue to pursue high-quality housing MEIWA ESTATE Co., Ltd. Copy
Slide 31: Key Takeaway 1: Highly Rated in Customer Satisfaction Survey
Key Takeaway 1: Highly Rated in Customer Satisfaction Survey MEIWA JISYO COMMUNITY has acquired a high customer satisfaction We will continue to improve the quality of our management services and strive to become the company of choice for our customers MEIWA JISYO COMMUNITY Co., Ltd. Copyright ©
Slide 32: Key Takeaway 2: ROIC and Cost of Capital
Key Takeaway 2: ROIC and Cost of Capital We use ROIC and WACC as indicators for managing our business ROIC in FY03/25 was 3.38％ and WACC was 2.49% Changes in ROIC (Unit: %) 5.03 4.30 4.06 3.90 3.76 3.04 3.38 ROIC 2.67 2.25 2.39 2.35 2.11 2.49 WACC 1.94 FY03/19 FY03/20 FY03/21 FY03/22 FY03/23 FY0
Slide 33: Key Takeaway 2: Promote Business Operations with an Awareness of Capital Turnover
Key takeaway 2: Promote Business Operations with an Awareness of Capital Turnover In order to improve ROIC, management is being carried out with capital turnover in mind. The Strategy 2027 aims to be asset-light overall Reposted from Strategy 2027 High ○ Leasing and Related 2. Strengthen WS * Afte
Slide 34: Key Takeaway 2: Promote Business Operations with an Awareness of Capital Turnover
Key Takeaway 2: Promote Business Operations with an Awareness of Capital Turnover In FY03/26, we are focusing on turnover and proceeding with sales in the Residential Development Business, the Purchase and Resale Business and the Wealth Solution Business Leasing The Residential Development and Bus
Slide 35: Key Takeaway 2: Residential Development Business, Completed Inventory
Key Takeaway 2: Residential Development Business, Completed Inventory There was a temporary increase in completed inventory at the end of FY03/25 as some regional properties were sold after completion The amount of completed inventory decreased from 135 units at the end of FY03/25 to 40 units at
Slide 36: Key Takeaway 2: Purchase and Resale Business, OC Condominiums
Key Takeaway 2: Purchase and Resale Business, OC Condominiums Made progress in the sale of OC condominiums, which have low turnover 45 units at the end of 1H FY03/26, down 35 units from the end of FY03/25 Change in number of OC condominium units -35 units 80 units 61 units 45 units As of As of A
Slide 37: Key Takeaway 2: Trends in Interest-Bearing Debt
Key Takeaway 2: Trends in Interest-Bearing Debt The repayment of borrowings for the Residential Development Business progressed, and interest-bearing debt was ¥78.6 billion (down ¥8.4 billion from the end of FY03/25) In the Purchase and Resale Business, while sales (repayment) progressed, borrow
Slide 38: Key Takeaway 3: The Pipeline Looking Beyond Strategy 2027
Key Takeaway 3: The Pipeline Looking Beyond Strategy 2027 In the Residential Development Business, purchase methods have been diversified, including real estate M&A and reconstruction projects We are steadily developing the pipeline looking beyond the Strategy 2027 Acquired a parking lot Strateg
Slide 39: Key Takeaway 3: Real Estate M&A
Key takeaway 3: Real Estate M&A Since 2021, 54 properties have been purchased through M&A We will continue to actively utilize M&A as one of our purchase methods Examples of companies acquired through M&A Outline of Company A Outline of Company B Acquisition of real estate through M&A Area Taito
Slide 40: Key Takeaway 3: Reconstruction Business, Hi-Mart Shibuya Shinsen
Key Takeaway 3: Reconstruction Business, Hi-Mart Shibuya Shinsen In September 2025, we received approval to establish a condominium reconstruction association Our first reconstruction project under the Act on Facilitation of Reconstruction of Condominiums Overview of the “Hi-Mart Shibuya Shinsen
Slide 41: Key Takeaway 3: Reconstruction Business, Honmoku Motomachi Kyodo Building
Key Takeaway 3: Reconstruction Business, Honmoku Motomachi Kyodo Building Approval received for the establishment of a condominium site sales association in August 2025 Our first land sale project under the Act on Facilitation of Reconstruction of Condominiums Overview of the “Honmoku Motomachi
Slide 42: [Ref.] The Strategy 2027
[Ref.] The Strategy 2027 For details of the Strategy 2027, please refer to the explanatory materials. ▶IR site:the Strategy 2027 https://www.meiwajisyo.co.jp/corp/ir/plan/ Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 43: Residential Development Business
Residential Development Business
Slide 44: Residential Development Business
Residential Development Business Results: Net sales of ¥40.5 billion (up 93.6% YoY), Segment profit of ¥6.4 billion (up 259% YoY) The number of condominium deliveries increased YoY (from 390 units to 620 units) Purchases: ¥45.5 billion (up 347% YoY) A significant increase YoY due to the purc
Slide 45: Residential Development Business Results 1H FY03/26
Residential Development Business Results 1H FY03/26 Net sales and profit increased YoY （Millions of yen） 1H FY03/25 1H FY03/26 Change Change Actual Actual (%) Net sales Sales to external customers 20,932 40,519 19,586 93.6% Intersegment sales and － － － － transfers Total 20,932 40,519 19,586 93.6%
Slide 46: Residential Development Business: Net Sales
Residential Development Business: Net Sales Net sales in 1H FY03/26 were ¥40.5 billion（up 93.6％ YoY） Net sales （Millions of yen） Condominiums Others +93.6% 40,519 80 20,932 34 40,438 20,897 1H FY03/25 1H FY03/26 Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 47: Residential Development Business: Segment Profit
Residential Development Business: Segment Profit Profit increased YoY due to an increase in the number of condominium units delivered Analysis of factors behind change in segment profit Positive change Negative change （Millions of yen） Increase in SG&A 6,400 -187 （+4,616） No. of units delivered 39
Slide 48: Residential Development Business: Progress of Condominium Net Sales
Residential Development Business: Progress of Condominium Net Sales Exceeded the full-year net sales plan of ¥50.6 billion Net sales and Contracts concluded *Only for new condominiums (Millions of yen) Contracts concluded 13.0% Net sales recorded 51,021 Full-year 45,165 Q3 onwards forecast 10,583
Slide 49: Topics: Q2 FY03/26 Completion and Deliveries
Topics: Q2 FY03/26 Completion and Deliveries We developed high-value-added condominiums. ZEH-M Oriented Shinjuku, Tokyo ZEH-M Oriented Yokohama, Kanagawa Total number of units: 54 Total number of units: 71 Completed and delivered in September 2025 Completed and delivered in August 2025 Copyright ©
Slide 50: [Ref.] Leading Sales Indicators (KPIs) for the Residential Development Business
[Ref.] Leading Sales Indicators (KPIs) for the Residential Development Business KPIs are defined as follows. Land purchase Start sales Completion/ Sales contracts contracts (construction permit granted) delivery Purchases Supply Sales Contracts Net Sales Planned sales amount at Sales value of Amou
Slide 51: Residential Development Business: Purchases
Residential Development Business: Purchases Purchases in 1H FY03/26 amounted to ¥45.5 billion (up 346.9% YoY) A significant increase YoY due to the purchase of a large-scale project *Only for new condominiums Purchases *Based on planned sales price （Millions of yen） +346.9% 45,519 Q2 12,258 Q1 3
Slide 52: Residential Development Business: Supply
Residential Development Business: Supply Supply in 1H FY03/26 amounted to ¥25.9 billion (up 41.5% YoY) *Only for new condominiums Supply *Based on planned sales price （Millions of yen） +41.5% 25,920 Q2 2,953 18,322 Q2 9,005 Q1 22,966 Q1 9,316 1H FY03/25 1H FY03/26 Copyright © MEIWA ESTATE Co., Ltd
Slide 53: Residential Development Business: Sales Contracts
Residential Development Business: Sales Contracts Sales contracts in 1H FY03/26 amounted to ¥30.2 billion (up 13.0% YoY) *Only for new condominiums Sales contracts *Based on contract price （millions of yen） +13.0% 30,231 26,743 Q2 11,696 Q2 12,942 Q1 Q1 18,534 13,801 1H FY03/25 1H FY03/26 Copyrigh
Slide 54: Topics: Supply in Q2
Topics: Supply in Q2 This is a rare and highly desirable location, just a 2-minute walk from Naebo Station, which is only one stop from Sapporo Station. Sapporo, Hokkaido Total number of units: 56 Sales commenced in September 2025 To be completed in September 2026 Copyright © MEIWA ESTATE Co., Ltd
Slide 55: Real Estate Agency Business
i Real Estate Agency Business Pp
Slide 56: Real Estate Agency Business
Real Estate Agency Business Results: Net sales of ¥14.8 billion (up 41.4% YoY), Segment profit of ¥1.2 billion (up 37.2% YoY) The Purchase and Resale Business is expanding steadily through increasing its workforce Net sales: ¥9.3 billion (up 81.8% YoY) In the Brokerage Business, net sales de
Slide 57: Real Estate Agency Business Results 1H FY03/26
Real Estate Agency Business Results 1H FY03/26 Net sales and profit increased YoY （Millions of yen） 1H FY03/25 1H FY03/26 Change Change Actual Actual (%) Net sales Sales to external customers 10,496 14,842 4,345 41.4% Intersegment sales and － － 0 -0 transfers Total 10,496 14,842 4,345 41.4% Segmen
Slide 58: Real Estate Agency Business: Net Sales
Real Estate Agency Business : Net Sales Net sales in 1H FY03/26 were ¥14.8 billion（up 41.4％ YoY） Net sales Purchase and Resale Land and Buildings （Millions of yen） Brokerage Others Wealth Solution（WS） +41.4％ 14,842 206 1,383 10,496 3,248 187 75 637 4,422 659 9,365 5,151 1H FY03/25 1H FY03/26 Copyr
Slide 59: Real Estate Agency Business: Segment Profit
Real Estate Agency Business: Segment Profit Strong performance in the Purchase and Resale Business boosted gross profit, leading to higher profit. Analysis of factors behind change in segment profit Positive change Negative change （Millions of yen） Decrease in The Purchase and Resale Business SG&A
Slide 60: Real Estate Agency Business: Purchase and Resale Business
Real Estate Agency Business: Purchase and Resale Business Net sales in 1H FY03/26 were ¥9.3 billion (up 81.8% YoY) Net sales of Purchase and Resale Business （Millions of yen) +81.8% 9,365 Q2 4,273 5,151 Q2 3,051 Q1 5,092 Q1 2,100 1H FY03/25 1H FY03/26 Copyright © MEIWA ESTATE Co., Ltd. All rights
Slide 61: Topics: Purchase and Resale Business High-quality Housing
Topics: Purchase and Resale Business High-quality Housing Increased handling of well-located and high-end properties with high-quality renovation Purchase and Resale Business: Composition of contracts by price range (price basis) ¥200 million~ ¥150 million~ ¥100 million~ 6.9% Less than ¥100 millio
Slide 62: Real Estate Agency Business: Brokerage Business
Real Estate Agency Business: Brokerage Business Net sales in 1H FY03/26 were ¥0.6 billion(down 3.4% YoY) Net sales（Brokerage fees） （Millions of yen） -3.4％ 659 637 Q2 305 Q2 332 Q1 Q1 354 305 1H FY03/25 1H FY03/26 Copyright © MEIWA ESTATE Co., Ltd. All rights reserved.
Slide 63: Real Estate Agency Business: Wealth Solution
Real Estate Agency Business: Wealth Solution Completed settlement and delivery of six properties in 1H Main properties delivered in Q2 FY03/26 Ebisu Platanus Building Katase Enoshima Seaside Heights Shibuya, Tokyo Fujisawa, Kanagawa Steel structure/3 stories above ground Reinforced concrete struct
Slide 64: Condominium Management Business
Condominium Management Business
Slide 65: Condominium Management Business
Condominium Management Business Results: Net sales of ¥3.2 billion (up 9.0% YoY), Segment profit of ¥0.2 billion (up 33.2% YoY) Steady progress in switchover from other condominium management companies backed by high customer satisfaction Number of newly contracted units in 1H: 1,752 units (of
Slide 66: Condominium Management Business Results 1H FY03/26
Condominium Management Business Results 1H FY03/26 Net sales and profit increased YoY （Millions of yen） 1H FY03/25 1H FY03/26 Change Change Actual Actual (%) Net sales Sales to external customers 2,961 3,227 266 9.0% Intersegment sales and 16 24 8 54.3% transfers Total 2,977 3,252 274 9.2% Segment
Slide 67: Condominium Management Business: Net Sales
Condominium Management Business: Net Sales Net sales in 1H FY03/26 were ¥3.2 billion (up 9.0% YoY) Change in net sales of Condominium Management Business （Millions of yen） Full-year forecast Full-year 6,700 Full-year Full-year 6,030 5,729 5,512 Q2 Q2 Q2 Q2 1,563 1,676 1H 1,299 1,426 3,227 Q1 （+266
Slide 68: Condominium Management Business: Net Sales
Condominium Management Business: Net Sales Increase in Management fees due to an increase in switchovers from other management companies Net sales （Millions of yen） ＋9.0％ Others 3,227 Construction-related 2,961 113 Managemet fees 91 425 405 2,688 2,465 1H FY03/25 1H FY03/26 Copyright © MEIWA ESTAT
Slide 69: Condominium Management Business: Segment Profit
Condominium Management Business: Segment Profit Increase in gross profit due to increase in management fees, led to increased segment profit YoY Analysis of factors behind change in segment profit Positive change Negative change （Millions of yen） Increase in Increase in SG&A management fees due -4
Slide 70: Condominium Management Business: No. of Units Under Management
Condominium Management Business: No. of Units Under Management No. of units under management increased to 53,542 units as of the end of Q2 FY03/26 Change in number of units under management Target 55,650 units 51,982 units 48,940 units 45,759 units End of Q2 53,542 units 43,471 units End of End of
Slide 71: Condominium Management Business: New Management Contracts
Condominium Management Business: New Management Contracts Switchovers from other management companies progress steady Continue strengthening switchovers from other management companies Change in number of units under new management contracts *Based on start of management Own condominiums (CLIO c
Slide 72: Fact Sheet
Fact Sheet == wien
Slide 73: Consolidated Balance Sheet as of End of Q2 FY03/26
Consolidated Balance Sheet as of End of Q2 FY03/26 （Millions of yen) Change End of FY03/25 End of Q2 FY03/26 Change (%) Total assets 152,097 141,347 -10,749 -7.1% Current assets 140,112 129,050 -11,061 -7.9% Cash and deposits 22,472 28,009 5,537 24.6% Real estate for sale 26,974 20,590 -6,384 -23.7%
Slide 74: Residential Development Business: Sales Breakdown and Leading Sales Indicators
Residential Development Business: Sales Breakdown and Leading Sales Indicators （Millions of yen） 1H FY03/25 1H FY03/26 FY03/26 Change Change(%) Progress (%) Actual Actual Forecast Net sales 20,932 40,519 19,586 93.6% － － Condominiums 20,897 40,438 19,540 93.5% 50,600 79.9% Units delivered 390 units
Slide 75: Real Estate Agency Business: Sales Breakdown
Real Estate Agency Business: Sales Breakdown （Millions of yen） 1H FY03/25 1H FY03/26 FY03/26 Change Change(%) Progress (%) Actual Actual Forecast Net sales 10,496 14,842 4,345 41.4% 24,400 60.8% Purchase and Resale 5,151 9,365 4,213 81.8% 20,000 46.8% Units delivered 69 units 105 units 36 units 52.2
Slide 76: Real Estate Agency Business: Leading Sales Indicators
Real Estate Agency Business: Leading Sales Indicators （Millions of yen） 1H FY03/25 1H FY03/26 FY03/26 Change Change(%) Progress (%) Actual Actual Forecast － － Purchase and Units purchased 109 units 56 units -53 units -48.6% Resale Sales contracts 6,181 9,849 3,668 59.3% － － No. of units 77 units 104
Slide 77: Condominium Management Business: Sales Breakdown and Leading Sales Indicators
Condominium Management Business: Sales Breakdown and Leading Sales Indicators （Millions of yen） 1H FY03/25 1H FY03/26 FY03/26 Change Change(%) Progress (%) Actual Actual Forecast Net sales 2,961 3,227 266 9.0% 6,700 48.2% Management fees 2,465 2,688 223 9.1% － － Construction-related 405 425 20 5.1%
Slide 78: [Ref.] Residential Development Business: Progress Against Sales Targets
[Ref.] Residential Development Business: Progress Against Sales Targets （Billions of yen) FY03/25 FY03/26 FY03/27 Plan Net Sales 50.0 45.0 47.0 (Residential Development) Net sales recorded (①) 45.1 40.4 － Contracts concluded (②) － 10.5 32.8 Supplied, no contract － 3.0 6.2 Progress (③) Purchased, not
Slide 79: [Ref.] Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets
[Ref.] Real Estate Agency Business, Purchase and Resale: Progress Against Sales Targets （Billions of yen） FY03/25 FY03/26 FY03/27 Net sales 22.1 28.0 33.7 Plan (Real Estate Agency ) Purchase and Resale 14.1 18.2 20.0 Net sales recorded (①) 12.7 9.3 － Contracts concluded (②) － 2.6 － Currently for sal
Slide 80: [Ref.] ROIC
[Ref.] ROIC Calculation formula of ROIC as below Consolidated operating profit x (1 - effective tax rate) ROIC = Invested Capital* * Invested Capital is calculated as interest-bearing liabilities + equity. Calculated using the average value during the period. (Image) Consolidated Balance Sheets As
Slide 81: [Ref.] WACC (Weighted Average Cost of Capital)
[Ref.] WACC (Weighted Average Cost of Capital) Calculation formula of WACC as below WACC = (Cost of Debt x Debt ratio) + (Cost of Equity x Equity ratio) Cost of Debt Interest-bearing liabilities interest rate x (1 - effective tax rate) Debt ratio Value of interest-bearing liabilities / (market cap
Slide 82: Contact
Corporate Planning Dept., Contact TEL 03-5489-2620 E-mail IR8869＠meiwajisyo.co.jp MEIWA ESTATE Co., Ltd. *This material is for informational purposes only and is not intended as an offer, solicitation, or sales for any specific product. *This material was prepared based on data as of the date of pub