Home Position Co., Ltd.

Business Details

Based in Shizuoka Prefecture, the company provides detached houses for sale across a total of 10 locations in the Tokai area (Shizuoka, Aichi, Gifu) and the Kanto area (Kanagawa, Saitama, Tokyo, Chiba). It has built an integrated in-house system spanning land acquisition through planning and design, supplying design-oriented houses emphasizing five elements such as "Iconic" and "Minimal," priced with an awareness of surrounding market rates. The Design Strategy Office, established in 2021, serves as the core of its differentiation strategy. As a medium- to long-term target, the company aims for net sales of ¥100 billion and sales volume of 3,000 units.

Recent Overview

Cumulative Q3 net sales up 10.4% and operating profit up 88.0%, with the full-year forecast revised upward

In the cumulative nine months of FY2026 (ending August 2026) (September 2025 to May 2026), sales volume exceeded the year-earlier level owing to strengthened procurement of quality land, more efficient sales activities, and improved construction management systems. The company achieved significant profit growth, with net sales of ¥13,397 million (up 10.4% year on year), operating profit of ¥646 million (up 88.0% year on year), and quarterly net profit of ¥327 million (up 297.7% year on year). The absence of one-time expenses recorded in the prior-year period, such as ¥89 million in share issuance costs and ¥47 million in impairment losses, also contributed to the improvement in profit. The full-year earnings forecast was revised on July 10, 2026, and the company now expects net sales of ¥19,000 million, operating profit of ¥1,040 million, and net profit of ¥540 million. Meanwhile, short-term and long-term borrowings increased in line with the buildup of real estate for sale in progress, and the equity ratio declined from 39.9% to 35.1%.

Key Products

Growth Drivers

• Expansion of sales volume through six Kanto-area locations and market share gains through design differentiation
• Securing land through active strengthening of quality land procurement (expansion of brokerage networks and new market development)
• Increased sales volume through more efficient sales activities and improved construction management systems
• Contribution to next-period sales from the buildup of real estate for sale in progress to ¥10,504 million (up 39.3% from the end of the previous period)
• Improved business performance and enhanced corporate value driven by steady order trends

Risks

• Rising construction costs and margin pressure from elevated building materials, supplies, and labor costs
• Risk of deteriorating consumer sentiment and declining sales volume due to rising land prices and soaring housing prices
• Structural long-term decline in housing demand due to population decrease (particularly in the Tokai area)
• Increased mortgage burden and weaker demand from rising interest rates, as well as increased financial costs for the company itself (interest expense of ¥149 million and bond interest of ¥9 million)
• Risk of recognizing valuation losses if the ¥10,504 million in real estate for sale in progress remains unsold for an extended period
• Rising financial leverage and declining equity ratio (35.1%) associated with increased borrowings (short-term borrowings of ¥7,106 million and long-term borrowings of ¥1,473 million)
• Downward pressure on the economy and deterioration in real estate market conditions due to geopolitical risks and the impact of U.S. trade policy