Heavy investment in residential projects
Columbia Works Inc. (TSE: 146A) reported consolidated results for the first nine months of FY12/2026, January 1 to September 30, 2026, on November 12, 2026. The company, which develops mainly residential properties in a single real-estate development segment, said investor demand for Japanese property remained firm on rising residential rents, the weak yen and interest rates that stay low by Western standards, even as construction costs and interest rates climb. It invested ¥42,757 million in properties for sale during the period, including projects it plans to sell this year.
That spending lifted current assets by ¥18,608 million, with properties for sale up ¥7,097 million and properties in progress up ¥10,182 million, while fixed assets fell ¥3,143 million as buildings and land declined. Total assets rose 23.1% to ¥82,341 million and the equity ratio fell to 23.4%. Ordinary profit fell 4.4% to ¥4,053 million and earnings per share fell 22.3% to ¥334.92, partly on a higher average share count.
Full-year forecast kept
Columbia Works kept its FY12/2026 forecast of net sales of ¥55,400 million (+49.4%), operating profit of ¥7,600 million (+26.1%), ordinary profit of ¥6,670 million (+30.2%) and net profit attributable to owners of ¥4,200 million (+21.2%), and its year-end dividend forecast of ¥94, up from ¥78. The nine months represent 53.3% of the sales target and 62.5% of the operating profit target.
| Metric | 9M FY12/2026 | 9M FY12/2025 | Change |
|---|---|---|---|
| Net sales (¥ million) | 29,528 | 28,700 | +2.9% |
| Operating profit (¥ million) | 4,749 | 4,891 | -2.9% |
| Ordinary profit (¥ million) | 4,053 | 4,241 | -4.4% |
| Net profit attrib. to owners of parent (¥ million) | 2,575 | 2,992 | -13.9% |
| Comprehensive income (¥ million) | 2,603 | 3,001 | -13.3% |
| EPS (¥) | 334.92 | 431.00 | -22.3% |
| Total assets (¥ million) | 82,341 | 66,877 | +23.1% |
| Net assets (¥ million) | 19,250 | 17,439 | +10.4% |
| Equity ratio | 23.4% | 26.1% | -2.7 pt |
| FY12/2026 guidance — revenue (¥ million) | 55,400 | — | +49.4% |
| FY12/2026 guidance — operating profit (¥ million) | 7,600 | — | +26.1% |
| FY12/2026 guidance — ordinary profit (¥ million) | 6,670 | — | +30.2% |
| FY12/2026 guidance — net profit (¥ million) | 4,200 | — | +21.2% |
| Annual dividend per share (¥) | 94.00 | 78.00 | +20.5% |
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.