KOSE R.E. Co.,Ltd.
3246・Standard Market・Real Estate
Family Condominium Sales Business
Core business planning, developing, and selling family-oriented condominiums in the Fukuoka metropolitan area, Kyushu prefectures, and the greater Tokyo area
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Q1 cumulative) | ¥1,089 million | ¥436 million | ↑ |
| Segment profit (Q1 cumulative) | ¥64 million | △¥85 million (loss) | ↑ |
| Units delivered (Q1 cumulative) | 28 units | 8 units | ↑ |
| Contracts signed during the period (Q1 cumulative) | ¥893 million (23 units) | ¥652 million (37.0% YoY) | ↑ |
| Contract backlog at quarter-end | ¥2,577 million (64 units) | +79.0% YoY | ↑ |
| Full-year revenue forecast (FY2027, ending January 2027) | ¥10,350 million (+3.0% YoY) | ¥10,048 million (FY2026 ending January 2026 actual) | ↑ |
Business Details
Plans, develops, and sells high-quality condominiums under the "Grandfore" brand mainly in the Fukuoka metropolitan area, as well as in core cities across Kyushu prefectures and the greater Tokyo area. Based on the concept of "creating the ideal home," the segment covers family-oriented newly built condominiums, including deliveries from inventory carried over from the previous fiscal year. In Q1 of FY2027 (ending January 2027) (February–April 2026), the company completed one building in Kagoshima City, began new sales in Onojo City, Fukuoka Prefecture, and continued sales in multiple areas, achieving 28 units delivered.
Recent Overview
Significant YoY increase in units delivered (28 units) and revenue (¥1,089 million); segment turned profitable from a loss
In Q1 of FY2027 (ending January 2027) (February–April 2026), the company completed Grandfore Tenmonkan Prime in Kagoshima City and delivered 28 units (versus 8 units in the same period last year), including carried-over inventory from the previous fiscal year, recording revenue of ¥1,089 million (+149.8% YoY) and segment profit of ¥64 million (versus a segment loss of ¥85 million in the same period last year). In addition to starting new sales in Onojo City, Fukuoka Prefecture, the company continued sales in Fukuoka City, Kasuga City, Kurume City, Shimonoseki City, and Oyama City, building up a contract backlog of 64 units / ¥2,577 million at quarter-end (+79.0% YoY). There is no change to the full-year earnings forecast, and the company will continue to promote the development and sale of new properties.
Key Products
Growth Drivers
- Expansion of sales areas and increase in units delivered through broad geographic expansion into the Fukuoka metropolitan area, Kyushu prefectures, and the greater Tokyo area (e.g., Oyama City, Tochigi Prefecture)
- Accumulation of contracts through the start of sales of new properties such as Grandfore Shirakibara Residence (Onojo City)
- Improved visibility of future revenue through a contract backlog of 64 units / ¥2,577 million at quarter-end (+79.0% YoY)
- Sustained customer acquisition strength through the high-value-added positioning of the "Grandfore" brand
- Stable revenue recognition through diversified delivery timing from simultaneous sales activities across multiple areas
Risks
- Persistently high land prices and rising construction costs due to material price increases and labor shortages are squeezing profit margins
- Risk of a mismatch between rising home acquisition costs, driven by higher mortgage rates, and customers' affordable price range
- Risk of raw material procurement uncertainty and further price increases due to escalating tensions in the Middle East
- Risk of period-to-period revenue volatility dependent on the timing of property completion and delivery (Q1 tends to be high due to concentrated deliveries, but quarterly fluctuations are significant)
- Risk of increased development costs and timelines due to the need for land acquisition across a wider area amid soaring land prices in the Fukuoka metropolitan area
Last updated: April 9, 2026