Tama Home Co., Ltd. (TSE: 1419), a builder of low-priced, made-to-order detached wooden houses, reported consolidated results for the year ended May 31, 2026 under Japanese GAAP. Revenue edged down 1.5% to ¥197,740 million, operating profit fell 6.6% to ¥3,842 million, ordinary profit slipped 0.8% to ¥3,757 million, and net profit attributable to owners of the parent dropped 17.9% to ¥1,213 million. Basic earnings per share were ¥41.86, down from ¥50.99.
A softer housing year
The result caps a subdued year for the Tokyo-based homebuilder, whose "large house, small price" custom-order model targets first-time buyers. Softer detached-housing demand and higher material and labour costs weighed on both the top line and margins; the operating margin held at a thin 1.9%.
Balance sheet and cash flow
Total assets were ¥86,468 million and net assets ¥29,700 million, an equity ratio of 34.3%; book value per share was ¥1,023.50. Operating cash flow was ¥926 million, against a ¥1,156 million investing outflow and a ¥9,625 million financing outflow — the latter reflecting dividend payments and debt reduction. Period-end cash stood at ¥21,176 million.
Dividend cut this year, lifted for next
Tama Home, long known for an aggressive shareholder-return policy, set its FY5/2026 annual dividend at ¥125.00 per share — down from ¥195.00 — for a payout ratio of 298.6%, well above earnings. For FY5/2027 it guides the annual dividend back up to ¥130.00, a payout of about 94% of forecast earnings.
Bullish FY27 guidance
Management expects a strong recovery in the year to May 2027, guiding revenue of ¥230,000 million (+16.3%), operating profit of ¥7,500 million (+95.2%), ordinary profit of ¥6,700 million (+78.3%) and net profit of ¥4,000 million (+229.7%), with EPS of ¥137.99.
| Metric | FY5/2026 | FY5/2025 | YoY |
|---|---|---|---|
| Revenue (¥ billion) | 197.74 | 200.82 | -1.5% |
| Operating profit (¥ billion) | 3.84 | 4.11 | -6.6% |
| Ordinary profit (¥ billion) | 3.76 | 3.79 | -0.8% |
| Net profit attrib. to owners (¥ billion) | 1.21 | 1.48 | -17.9% |
| Basic EPS (¥) | 41.86 | 50.99 | -17.9% |
| Annual dividend (¥) | 125.00 | 195.00 | -35.9% |
| FY27 operating profit guidance (¥ billion) | 7.50 | 3.84 | +95.2% |
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.