Tosei Corporation reported a 24.5 % year-on-year (YoY) increase in net profit to ¥10.18 billion for the three months ended 28 February 2026, buoyed by a sharp pick-up in property disposals within its Revitalisation division and continued growth in fee-based businesses.

Basic earnings per share climbed to ¥104.99 from ¥84.36 a year earlier. The company paid a pre-split year-end dividend of ¥100 per share (equivalent to ¥50 on a post-split basis) on 27 February 2026. For the current fiscal year to November 2026, Tosei is guiding for an unchanged year-end payout of ¥55 per (post-split) share and maintains a nil interim dividend.

Group revenue increased 31.3 % YoY to ¥60.50 billion, while operating profit improved 25.8 % to ¥15.50 billion. Segment performance was led by the Revitalisation Business, where revenue nearly doubled to ¥40.85 billion and segment profit surged 95.4 % to ¥9.13 billion on the sale of 26 renovated properties and 42 pre-owned condominium units.

The Development Business posted revenue of ¥11.23 billion, down 36.5 % YoY, with segment profit retreating 38.6 % to ¥3.37 billion following fewer project completions. The Rental Business generated ¥2.38 billion in revenue (up 12.2 %) and ¥1.43 billion in profit (up 22.1 %), supported by higher occupancy and incremental property additions. Fund & Consulting revenue expanded 51.1 % to ¥2.53 billion, lifting segment profit 82.6 % to ¥1.82 billion as assets under management rose ¥77.4 billion to ¥2.74 trillion. Property Management revenue inched up 2.7 % to ¥1.78 billion, though profit slipped 32.5 % to ¥0.21 billion. Hotel operations continued to benefit from inbound tourism, with revenue up 3.1 % to ¥1.73 billion; segment profit, however, softened 20.0 % to ¥0.52 billion amid higher operating costs.

Higher selling prices and steady investor appetite for Tokyo-area office and residential assets underpinned first-quarter sales, while the company also spent the period acquiring 16 income-generating buildings and multiple land parcels to replenish its pipeline. In fee-based businesses, new mandates outweighed disposals, buttressing recurring income streams.

Tosei left its full-year guidance unchanged, targeting revenue of ¥122.99 billion (+29.9 %), operating profit of ¥24.61 billion (+10.2 %) and profit attributable to owners of ¥15.16 billion (+2.7 %) for the year ending 30 November 2026, citing performance in line with plan and continued solid real-estate investment demand despite interest-rate and geopolitical uncertainties.