Kasumigaseki Capital Co., Ltd. (TSE: 3498), a Japanese real-estate developer known for cold-storage logistics facilities, hotels and healthcare and senior-living properties, reported results for the first nine months (September 1, 2025–May 31, 2026) of its fiscal year ending August 2026. Under Japanese GAAP, consolidated revenue surged 75.0% to ¥88.48 billion. Operating profit slipped 12.5% to ¥8.20 billion and ordinary profit fell 10.7% to ¥7.05 billion, but net profit attributable to owners rose 12.4% to ¥4.56 billion. EPS was ¥196.47 (versus ¥205.89 a year earlier, restated for a stock split).
Revenue surges as pipeline delivers
Revenue jumped as more development projects reached completion and sale during the period. Operating profit eased modestly on the timing and mix of property transactions and up-front costs for the group's rapidly expanding project pipeline. The company carried out a two-for-one common-stock split effective September 1, 2025, which lifted the share count and lowered per-share figures on a comparable basis.
Balance sheet
Total assets expanded to ¥192.75 billion from ¥121.69 billion as the development pipeline grew, while net assets rose to ¥75.47 billion for an equity ratio of 38.7%. Shares outstanding increased to 24.59 million from 19.81 million.
Dividend and outlook
The company guides a year-end dividend of ¥165.00 for FY8/2026. It reaffirmed full-year guidance pointing to record results: revenue of ¥150.00 billion (+55.4%), operating profit of ¥26.50 billion (+40.0%), ordinary profit of ¥24.00 billion (+40.1%) and net profit of ¥16.50 billion (+61.0%), for EPS of ¥672.42.
| Metric | 9M FY8/26 | 9M FY8/25 | YoY |
|---|---|---|---|
| Revenue (¥m) | 88,476 | 50,549 | +75.0% |
| Operating profit (¥m) | 8,202 | 9,370 | −12.5% |
| Ordinary profit (¥m) | 7,050 | 7,898 | −10.7% |
| Net profit attrib. (¥m) | 4,555 | 4,053 | +12.4% |
| EPS (¥) | 196.47 | 205.89 | −4.6% |
| Equity ratio | 38.7% | 29.7% | +9.0pp |
| FY8/26 net guidance (¥m) | 16,500 | 10,248 | +61.0% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.