Daiwa House lifts 9M FY2026 net profit 4.8% to ¥225bn on resilient housing and rental segments; keeps full‑year guidance unchanged
Summary:
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Consolidated net sales for the nine months to 31 December 2025 rose 2.0% year on year to ¥4,030.3 billion, supported by growth in single-family houses and rental housing.
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Operating income edged up 1.8% to ¥363.6 billion and ordinary income dipped 1.4% to ¥335.4 billion, while net income attributable to owners of the parent increased 4.8% to ¥225.4 billion.
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The rental housing business delivered 13.7% sales growth and a 29.6% jump in operating profit to ¥120.6 billion, and the commercial facilities business posted 5.3% higher sales with 12.0% operating profit growth, offsetting weaker logistics & corporate facilities.
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The balance sheet expanded to total assets of ¥7,878.2 billion, with net assets of ¥2,821.7 billion and a net assets ratio of 34.6%; interest-bearing debt (ex‑leases) stood at about ¥3,130.8 billion with a 1.15x debt‑equity ratio, or 1.05x after hybrid financing.
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The company reaffirmed its FY2026 forecast of ¥5.6 trillion in net sales and ¥290.0 billion in net income, implying full‑year profits down around 11% on a reported basis but rising double‑digit if prior actuarial gains are excluded.