Iida Group Holdings Co.,Ltd.
3291・Prime Market・Real Estate
Ichiken Group
The largest segment in the Iida Group; operates Detached Housing Development, Condominiums, and Investment Income Properties
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (external plus inter-segment total) | ¥392,712 million | ¥408,385 million | ↓ |
| External revenue | ¥392,324 million | ¥407,422 million | ↓ |
| Segment operating profit | ¥29,731 million | ¥20,382 million | ↑ |
| Segment assets | ¥451,693 million | ¥412,734 million | ↑ |
| Depreciation and amortization | ¥2,979 million | ¥3,209 million | ↓ |
| Capital expenditures | ¥2,580 million | ¥3,941 million | ↓ |
| Detached Housing Development Business units delivered | 8,598 units | − | — |
| Impairment loss | ¥23 million | ¥136 million | ↓ |
Business Details
Ichiken Group boasts the largest sales scale among the reportable segments of Iida Group Holdings. It operates the Detached Housing Development Business, Condominium Development Business, Contract Construction Business (custom-built homes and remodeling), and Investment Income Property Development and Sales Business. Its primary target is first-time homebuyers in their 20s and 30s, to whom it supplies reasonably priced housing with superior earthquake resistance and insulation performance. In FY2026 (ending March 2026), revenue was ¥392,712 million (external revenue of ¥392,324 million), accounting for approximately 26.0% of the group's total external revenue.
Recent Overview
Revenue decreased 3.7% year on year, but operating profit rose sharply, up 46.0% year on year
In FY2026 (ending March 2026), Ichiken Group's Detached Housing Development Business saw both units delivered and revenue decline, with 8,598 units delivered and revenue of ¥278,461 million (down 8.9% year on year), while the Other category (investment income properties, etc.) maintained high growth, up 28.6% year on year to ¥46,777 million. The Contract Construction Business was also solid, up 7.9% year on year to ¥35,345 million. Segment operating profit improved substantially to ¥29,731 million from ¥20,382 million in the prior period, with profitability improving markedly. Segment assets increased by ¥38,959 million year on year to ¥451,693 million.
Key Products
Growth Drivers
- Portfolio diversification and earnings uplift from high growth (up 28.6% year on year) in the Investment Income Property Development and Sales Business (Other category)
- Expansion of the Contract Construction Business (up 7.9% year on year) and steady growth of the remodeling business leveraging a cumulative customer base of approximately 800,000 homes
- Agile land procurement and sales and maintenance of appropriate inventory levels through refinement of area strategy
- Resilient underlying housing demand and improved supply-demand balance, particularly in the greater Tokyo metropolitan area
- Improved earnings structure (higher profit margins), with operating profit rising sharply even as revenue declined
Risks
- Detached Housing Development Business revenue declined 8.9% year on year, and full-year results depend on a recovery in units delivered
- Risk that cost increases from rising construction costs and land prices will be difficult to pass through to sales prices
- Risk of weakening purchase sentiment among first-time homebuyers due to rising mortgage rates
- Risk that cautious purchase sentiment among first-time homebuyers in regional areas will persist
- Risk of supply chain disruption due to supply uncertainty for certain raw materials
Last updated: June 23, 2026