FUJI CORPORATION LIMITED
8860・Prime Market・Real Estate
Business
Fuji Jyutaku Co., Ltd. was founded in 1974 and operates as a regionally focused, comprehensive housing and real estate company centered on all of Osaka Prefecture, the southern part of Hyogo Prefecture, and the northern part of Wakayama Prefecture. The company operates five segments: Condominium/Detached Housing for Sale (newly built detached houses and condominiums for sale), Housing Distribution (used housing purchase & resale and brokerage), Effective Land Utilization (apartment construction contracting and whole-building sales), Leasing and Management (master lease and service-provided senior housing), and Construction-Related. It provides a one-stop range of housing-related services to a broad customer base, from individual home buyers to affluent individuals, individual investors, and the elderly. Consolidated net sales for FY2026 (ending March 2026) were ¥138,332 million.
Business Model
A structure in which property sales income is earned through each flow-type business—Condominium/Detached Housing for Sale, Housing Distribution, and Effective Land Utilization—while properties constructed under the Effective Land Utilization business are master-leased and consolidated into the Leasing and Management business, thereby accumulating stable stock-type rental income. In the Used Housing Asset Business, a multi-stage revenue model is also pursued, whereby properties with existing rental tenants are acquired, rental income is earned, and the properties are subsequently resold. The Insurance Agency Business complements cross-sell revenue in line with the number of housing units sold.
Company Strengths
The company operates five segments—Condominium/Detached Housing for Sale, Housing Distribution, Effective Land Utilization, Rental Management, and Construction-Related—securing resilience against economic fluctuations. In FY2026 (ending March 2026), all four major segments achieved revenue growth, with the Leasing and Management segment posting record-level profitability at ¥33,864 million in net sales and ¥4,452 million in segment profit. The increasing proportion of stock-type revenue is structurally reducing the risk of dependence on a single business.
In the Effective Land Utilization business, the company employs 100% referral-based sales, achieving a high repeat order rate among existing owners. Through a system in which constructed properties are master-leased and consolidated into the rental management business, the company has built an integrated revenue cycle spanning construction contracting through to management. In FY2026 (ending March 2026), the number of Service-Provided Senior Housing units delivered reached 65 (up 27.5% year on year), continuing its expansion.
The company operates a three-brand strategy comprising the patented system "Sumi no Ie / Pure Air," the low-price brand "S・O・U+," and the single-story specialty brand "HIRANAGI," addressing diverse customer needs. It differentiates on quality through its proprietary "FX-WOOD construction method," which achieves Seismic Grade 3. In FY2026 (ending March 2026), the number of custom-designed detached houses delivered increased to 515 units (up from 486 units in the prior period), while condominium units for sale also rose sharply to 334 units (up from 284 units in the prior period).
ENVALITH's Perspective
Performance Trend
Revenue for FY2026 (ending March 2026) came to ¥138,332 million (up 11.6% year on year), marking a record high for the fifth consecutive period of increase. This was driven by a sharp rise in the number of used housing units delivered in the Housing Distribution segment (1,272 units) and an increase in completed condominium deliveries (334 units). Operating profit of ¥8,295 million (up 5.1% year on year) also reached a record high, but ordinary profit was limited to ¥6,995 million (up 0.1% year on year) due to an increase in interest expenses (up ¥378 million year on year) accompanying the policy rate hike. Profit attributable to owners of parent turned to a slight decline of ¥4,757 million (down 0.1% year on year). Over the past five periods, revenue grew at an average annual rate of approximately 3.9%, and operating profit at approximately 9.0%, reflecting continued improvement in profitability; however, rising financial costs amid the higher interest rate environment are beginning to cap the upside of profit growth.
Growth Strategy
Pursuing sustainable growth through three pillars: strengthening the stock-type business, regional expansion, and DX promotion
Continuously accumulate managed properties in coordination with the Effective Land Utilization business to progressively increase stock-type revenue. The increase in self-owned Service-Provided Senior Housing properties also contributes to expanding stable rental income. Segment profit for FY2026 (ending March 2026) reached ¥4,452 million (up 13.4% year on year), steadily expanding, with stable growth expected to continue in the following fiscal year.
Capturing the structural expansion in demand for used housing against a backdrop of persistently high new-build prices, the company expanded its scale through a more aggressive procurement policy and a sales system emphasizing inventory turnover. In FY2026 (ending March 2026), the business achieved rapid growth with 1,272 units delivered and net sales of ¥35,122 million (up 31.7% year on year). A favorable sales environment is expected to continue in the following fiscal year.
In FY2027 (ending March 2026), growth in the Condominium/Detached Housing for Sale business and the Effective Land Utilization business is expected, driven by an increase in the number of detached houses for sale delivered and an increase in the number of Whole-Building Rental Apartments for Individual Investors delivered. However, the effect of increased profit is expected to be partially offset by cost increases stemming from the anticipated roughly two interest rate hikes per year associated with monetary policy normalization and rising prices.
Last updated: July 19, 2026