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Tosei raises FY net profit forecast 4.9%, lifts year-end dividend to ¥58

Mon, Oct 05, 2026 14:30 JST Tosei Corp. (8923.T) Real Estate 中文

Tosei Corp. (8923) on Oct. 5 raised its consolidated net profit forecast for the fiscal year ending Nov. 30, 2026 to ¥15.9 billion from ¥15.2 billion, and increased its planned year-end dividend to ¥58 per share from ¥55.

Revised net profit forecast¥15.9 billion
Revised revenue forecast¥113.6 billion
Year-end dividend forecast¥58 per share
Nine-month revenue¥99.6 billion

The real estate company cut its full-year revenue forecast by 7.6% to ¥113.6 billion from ¥123.0 billion, while lifting its operating profit outlook to ¥25.1 billion from ¥24.6 billion and pretax profit to ¥22.7 billion from ¥22.0 billion. Forecast basic earnings per share rose to ¥163.94 from ¥156.31.

Item (¥ million)Previous (Jan. 14)RevisedChange
Revenue122,986113,613-7.6%
Operating profit24,61125,061+1.8%
Pretax profit22,00022,700+3.2%
Net profit attributable to owners15,15715,906+4.9%

Tosei said investment appetite among domestic and overseas investors in Japan's real estate market remained firm, and its property revitalization and leasing businesses performed well. In its real estate fund and consulting business, acquisitions and sales of assets under management outpaced initial assumptions. Against that backdrop, the company strategically pushed back the sale of some properties from the current fiscal year to the next year or later, reducing revenue, while factoring in higher disposition fees and stronger-than-expected leasing results.

The ¥3 dividend increase puts the payout ratio at 35.4%, compared with 35.2% before the revision. Tosei carried out a 2-for-1 stock split on Dec. 1, 2025; its dividend for the previous fiscal year was ¥100 on a pre-split basis.

Separately, Tosei reported IFRS results for the nine months from Dec. 1, 2025 to Aug. 31, 2026. Revenue rose 18.6% from a year earlier to ¥99.6 billion, operating profit climbed 12.7% to ¥23.4 billion and net profit attributable to owners of the parent increased 5.5% to ¥14.8 billion. Basic earnings per share were ¥152.71.


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