Mitsui Fudosan, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 2% Increase, Raises Record High Profit, Dividend Revised Upward by 1 Yen

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Fri Nov 7, 2025 3:30 pm JST Earnings

8801 Mitsui Fudosan Co., Ltd. 【J-GAAP】

Earnings Report

Mitsui Fudosan Co., Ltd. <8801> [TSE Prime] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 183 billion yen, an increase 33.7% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 3.5%, from the previous forecast of 285 billion yen to 295 billion yen (compared to 290 billion yen in the previous period), record profits reach four consecutive terms, turning to a 1.6% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease 27.2% from the same period last year to 111 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 33 yen to 34 yen (compared to 31 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 39.5 billion yen, a 16.1% decrease compared to the same period last year. The operating profit margin decreased from 12.8% in the same period last year to 10.6%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2023	1,165,245	179,734	154,409	129,293	46.2	57.6	Nov 8, 2023	J-GAAP
Apr - Sep, 2024	1,162,438	169,470	137,322	88,322	31.6	47.3	Nov 8, 2024	J-GAAP
Apr - Sep, 2025	1,353,420	218,780	183,587	152,153	54.9	62.2	Nov 7, 2025	J-GAAP
YoY	+16.4%	+29.1%	+33.7%	+72.3%	+73.9%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2025 Guidance	ー	ー	ー	ー	－	16.50	May 9, 2025	J-GAAP
Apr - Sep, 2025 Results	1,353,420	218,780	183,587	152,153	54.9	17	Nov 7, 2025	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	2,700,000	380,000	285,000	260,000	94.6	33	May 9, 2025	J-GAAP
Mar, 2026 New	2,700,000	385,000	295,000	265,000	96.4	34	Nov 7, 2025	J-GAAP
Revision Rate	0.0%	+1.3%	+3.5%	+1.9%	+1.9%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024	1,462,925	203,262	152,940	160,477	57.6	16	May 9, 2025	J-GAAP
Oct - Mar, 2025 Guidance	1,346,580	166,220	111,413	112,847	41.1	17	Nov 7, 2025	J-GAAP
YoY	-8.0%	-18.2%	-27.2%	-29.7%	-28.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	2,383,289	339,690	267,890	224,647	80.2	28	May 10, 2024	J-GAAP
Mar, 2025	2,625,363	372,732	290,262	248,799	89.3	31	May 9, 2025	J-GAAP
Mar, 2026 Guidance	2,700,000	385,000	295,000	265,000	96.4	34	Nov 7, 2025	J-GAAP
YoY	+2.8%	+3.3%	+1.6%	+6.5%	+8.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	532,062	68,171	47,170	23,304	8.3	12.8	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	514,361	51,130	35,624	55,700	20.0	9.9	Feb 7, 2025	J-GAAP
Jan - Mar, 2025	948,564	152,132	117,316	104,777	37.6	16.0	May 9, 2025	J-GAAP
Apr - Jun, 2025	802,316	160,112	144,005	124,232	44.8	20.0	Aug 5, 2025	J-GAAP
Jul - Sep, 2025	551,104	58,668	39,582	27,921	10.1	10.6	Nov 7, 2025	J-GAAP
YoY	+3.6%	-13.9%	-16.1%	+19.8%	+21.0%