Grandy House Corporation
8999・Prime Market・Real Estate
Real Estate Sales
Grandy House's core segment. Deploys new and used home sales across Northern Kanto and the greater Tokyo metropolitan area
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment revenue (external customers) | ¥49,735 million | ¥50,800 million | ↓ |
| Segment profit | ¥1,232 million | ¥583 million | ↑ |
| New home units sold | 1,219 units | 1,273 units | ↓ |
| Used home units sold | 104 units | 122 units | ↓ |
| Segment assets | ¥51,904 million | ¥51,789 million | — |
| Depreciation expense | ¥192 million | ¥182 million | ↑ |
Business Details
Provides an integrated in-house system covering everything from land acquisition for subdivision development, development permits, and land improvement to housing design, construction, sales, and after-sales maintenance. Centered on new detached housing sales, the segment also encompasses Used Home Sales (Chukojutaku Joho-kan Co., Ltd.) and Home Renovation (Grandy Reform Co., Ltd.). Subsidiaries are positioned across Tochigi, Ibaraki, Gunma, Chiba, Saitama, and Kanagawa, adopting a community-focused sales structure by trade area. In February 2026, the company opened its Mitaka branch in Musashino City, Tokyo, driving expansion and acceleration of its greater Tokyo metropolitan business.
Recent Overview
Despite a revenue decline, thorough inventory and expense management drove segment profit up 111% year on year
In FY2026 (ending March 2026), Real Estate Sales segment revenue declined 2.1% year on year to ¥49,735 million, while segment profit increased significantly by 111.3% year on year to ¥1,232 million. New home units sold were sluggish at 1,219 units (down 54 units year on year) and used home units at 104 units (down 18 units year on year) due to weak demand amid rising housing prices, but thorough inventory and expense management significantly improved profitability. In February 2026, the company opened its Mitaka branch, its first store in Tokyo, launching the expansion and acceleration of its greater Tokyo metropolitan business.
Key Products
Growth Drivers
- Expansion and acceleration of the greater Tokyo metropolitan business, using the Mitaka branch (Musashino City, Tokyo) as a foothold, to increase units sold and revenue
- Enhanced product value and higher average selling prices through standard adoption of seismic dampers and introduction of the "60-Year Warranty, 60-Year Support System"
- Maintenance and improvement of profit margins through continued thorough inventory and expense management
- Business scale expansion through strengthened organizational structure for the stock business comprising used home sales and renovation
- Leveraging the existing customer base through the renewed "Smile Club" to expand synergies between new home sales and the stock business
Risks
- Weakening customer appetite for home purchases due to persistently high housing prices and rising mortgage rates (new detached housing starts for sale declined 5.9% year on year for full-year FY2026, ending March 2026)
- Rising cost ratios and supply-side risks due to uncertainty in materials procurement (Middle East situation, trade policy, etc.)
- Sluggish sales in Northern Kanto areas outside Tochigi Prefecture and widening regional demand disparities
- Declining units sold due to intensifying competition with low-cost new homes in the used home market
- Rising subdivision land acquisition costs and increased inventory risk associated with greater Tokyo metropolitan business expansion
Last updated: June 24, 2026