FORLIFE Co., Ltd.

Business Details

With Yokohama City and Kawasaki City in Kanagawa Prefecture, and the Tokyo Jonan area (Setagaya, Shibuya, Ota, Meguro, Shinagawa, and Minato wards) as its main areas, the business targets first-time home buyers in their 20s to early 40s as its primary customer segment. It provides newly built, urban, compact, low-price 3-story detached houses through in-house design and in-house construction management, supplying high-quality, reasonably priced housing while reducing intermediary costs. The company also handles Land Sales with Building Conditions and Vacant Land Sales, managing everything in-house on a one-stop basis from land acquisition to planning, design, construction management, and after-sales maintenance.

Recent Overview

Units delivered reached 311 and revenue reached ¥14,905 million, both renewing record highs.

In the Condominium/Housing Development Business for FY2026 (ending March 2026), the company achieved 311 units delivered (up 16 units year on year), revenue of ¥14,905 million (up 19.9% year on year), and operating income of ¥1,342 million (up 34.5% year on year). Units delivered, revenue, and operating income all exceeded the prior period, with profitability also improving significantly. Note that in the financial results summary released in May 2026, the number of units delivered was mistakenly stated as 312; this was corrected to 311 units (404 units in total) in a correction dated June 26, 2026. Land sales shrank compared to the prior period, with 4 units delivered and revenue of ¥233 million.

Key Products

Growth Drivers

• Expansion of revenue scale driven by an increase in units delivered (311 units in FY2026, ending March 2026, up 16 units year on year)
• Increase in average sales price per unit due to focus on Tokyo's 23 wards and Yokohama City, Kanagawa Prefecture
• Improved profitability through intermediary cost reduction via in-house design and construction management, and building standardization
• Continuous acquisition of quality land at appropriate prices through community-focused, deeply rooted sales activities
• Improved inventory turnover and capital efficiency through promotion of pre-completion contracting
• Expansion of business area into the Kansai region (Kyoto Housing Division)

Risks

• Risk of reduced purchasing power among first-time buyers due to the rising trend in mortgage interest rates
• Risk of cost increases and profit margin pressure from rising construction material and subcontracting costs
• Intensifying competition for land acquisition (declining availability of viable land information and rising competition to acquire land)
• Risk of funding constraints in land acquisition due to increasingly rigid real estate lending stances by financial institutions
• Overall contraction of the housing market, including declining new housing starts
• Risk of intensifying competition due to entry of major and mid-sized companies into the compact 3-story housing market