Mitsui Fudosan (8801) investor relations material

Executive summary

• Achieved record highs in operating revenue, operating income, business income, ordinary income, and net profit for fiscal 2025, surpassing forecasts and delivering double-digit year-over-year growth.

• EPS reached JPY 101.04, with a CAGR of 13.4% since fiscal 2023; ROE was 8.7%.

• Fiscal 2026 guidance projects further record highs across all major earnings metrics, with revenue expected to reach JPY 2.8 trillion and net profit JPY 285 billion.

• Achieved FY2026 profit and ROE targets under long-term vision one year ahead of schedule.

• Fifteenth consecutive year of record operating revenue, with strong progress on strategic equity reduction.

Financial highlights

• Fiscal 2025 operating revenue: JPY 2,709.7 billion (+3.2% YoY); business income: JPY 445.1 billion (+11.6% YoY); ordinary income: JPY 313.3 billion (+7.9% YoY); net profit: JPY 278.7 billion (+12.0% YoY).

• Full-year EPS: JPY 101.04; ROE: 8.7%.

• Dividend per share for fiscal 2025 raised to JPY 35; total payout ratio at 54.9% including share buybacks.

• Share buyback of JPY 57 billion completed; further JPY 40 billion buyback planned for fiscal 2026.

• D/E ratio at 1.41x; equity ratio at 32.4%; interest-bearing debt at JPY 4,632.5 billion.

Outlook and guidance

• Fiscal 2026 forecast: operating revenue JPY 2.8 trillion (+3.3% YoY), business income JPY 450 billion, net profit JPY 285 billion (+2.3% YoY), all record highs.

• EPS CAGR projected at 10.3% over three years, exceeding 8% target.

• Dividend per share guidance for fiscal 2026: JPY 37; payout ratio 35%.

• Share buybacks remain flexible, subject to market and KPI progress.

• No near-term impact from Middle East conflict factored into guidance.