AMG HOLDINGS CO., LTD.
8891・Standard Market・Real Estate
Condominium Development Business
Core business responsible for the planning, development, and sales of Condominiums and Detached House Developments
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales | ¥20,305 million | ¥19,447 million | ↑ |
| Segment profit (operating income) | ¥1,659 million | ¥1,383 million | ↑ |
| Segment assets | ¥24,132 million | ¥23,711 million | ↑ |
| Condominium units delivered | 156 units | 144 units (including whole-building sales) | ↑ |
| Condominium new contracts | 187 units | 176 units (including whole-building sales) | ↑ |
| Detached House Development units delivered | 322 units | 316 units | ↑ |
| Detached House Development new contracts | 332 units | 321 units | ↑ |
| Segment profit margin | 8.2% | 7.1% | ↑ |
Business Details
A business that plans, develops, and sells Condominiums and Detached House Developments. From FY2026 (ending March 2026), it has been consolidated into the "Real Estate Development Business" as a result of segment reorganization. The company develops new-build Condominiums under the "More Grace Series" brand and Detached House Developments mainly in the Nagoya area, supporting general customers in realizing their dream of homeownership. During the period, the company delivered 156 units of Condominiums and 322 units of Detached House Developments, with both sales and profit exceeding the prior period.
Recent Overview
Units delivered increased for both Condominiums and Detached House Developments, with a significant improvement in profit margin
In FY2026 (ending March 2026), the Real Estate Development Business achieved sales of ¥20,305 million (up 4.2% year on year) and segment profit of ¥1,659 million (up 20.0% year on year). Condominiums recorded 187 new contracts and 156 units delivered, while Detached House Developments recorded 332 new contracts and 322 units delivered, both exceeding the prior period. The segment profit margin improved from 7.1% to 8.2%. Note that from this period, the former "Condominium Development Business," "Detached House Sales Business," and "Leasing Business" segments have been consolidated into this segment as a result of segment reorganization.
Key Products
Growth Drivers
- Continued housing demand centered in the Nagoya area
- New contracts exceeding the prior period for both Condominiums and Detached House Developments, building up a delivery pipeline
- Stable sales volume of Detached House Developments (over 300 units delivered annually) supporting earnings
- Unified business strategy and efficient allocation of management resources through segment reorganization
Risks
- Pressure on profit margins from persistently high land prices and rising construction costs
- Rising mortgage interest rates increasing housing acquisition costs and adversely affecting demand
- Risk of delayed building completion due to order suspensions and price increases for construction materials and housing equipment stemming from the worsening situation in the Middle East (factored in as a lower-bound assumption in the FY2027 (ending March 2027) forecast)
- Intensifying competition for project land acquisition and continued increases in land prices
- Risk of fluctuations in period sales and profit due to changes in the number and timing of unit deliveries
- Increased financial leverage associated with project financing, including a substantial increase in short-term borrowings (¥8,016 million)
Last updated: June 22, 2026