LUCKLAND CO., LTD.
9612・Prime Market・Services
LUCKLAND CO., LTD. (Single Segment: Store Facility Production Business)
A single-segment company providing integrated planning, design, construction, and maintenance services for commercial spaces
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (1Q FY2026 cumulative) | ¥10,692 million | ¥11,744 million (1Q FY2025) | ↓ |
| Operating profit (1Q FY2026 cumulative) | ¥683 million | ¥672 million (1Q FY2025) | ↑ |
| Operating margin (1Q FY2026 cumulative) | 6.4% | 5.7% (1Q FY2025) | ↑ |
| Ordinary profit (1Q FY2026 cumulative) | ¥699 million | ¥600 million (1Q FY2025) | ↑ |
| Quarterly net profit attributable to owners of parent (1Q FY2026 cumulative) | ¥389 million | ¥472 million (1Q FY2025) | ↓ |
| Quarterly net profit per share | ¥34.25 | ¥45.97 (1Q FY2025) | ↓ |
| Total assets | ¥25,690 million | ¥29,740 million (end of FY2025) | ↓ |
| Net assets | ¥13,276 million | ¥13,111 million (end of FY2025) | ↑ |
| Equity ratio | 51.4% | 43.9% (end of FY2025) | ↑ |
| Net assets per share | ¥1,161.70 | ¥1,147.95 (end of FY2025) | ↑ |
| Full-year net sales forecast (FY2026) | ¥58,000 million | ¥56,574 million (FY2025 actual) | ↑ |
| Full-year operating profit forecast (FY2026) | ¥4,176 million | ¥4,033 million (FY2025 actual) | ↑ |
| Annual dividend forecast (FY2026) | ¥40.00 | ¥20.00 (FY2025 actual) | ↑ |
Business Details
The company provides one-stop research, planning, design, engineering, construction, supervision, and maintenance services for all types of commercial spaces, including supermarkets, restaurants, commercial facilities, food factories, distribution warehouses, and hotels. Its strengths lie in refrigeration and freezing technology, food safety expertise, and specialized facility engineering such as electrical work, water supply/drainage, and air conditioning. Over 90% of net sales are generated domestically, with the remainder coming from overseas bases in the ASEAN region, Taiwan, and elsewhere. In 1Q FY2026, Ace Center Co., Ltd. was excluded from the scope of consolidation.
Recent Overview
1Q net sales declined 9.0% year on year, but operating and ordinary profit increased, reflecting improved profitability
In 1Q FY2026 (January to March 2026), net sales decreased to ¥10,692 million (down 9.0% year on year), while gross profit remained nearly flat at ¥1,965 million. Due to a reduction in selling, general and administrative expenses (¥1,281 million, down ¥12 million year on year), operating profit increased to ¥683 million (up 1.6% year on year) and ordinary profit increased to ¥699 million (up 16.4% year on year). Net profit decreased to ¥389 million (down 17.6% year on year) due to an increase in income tax adjustment (¥265 million). The Construction Business was the only segment to achieve increased sales, up 37.3% year on year. Ace Center Co., Ltd. was excluded from the scope of consolidation following the sale of all its shares. As a subsequent event, the company resolved to issue restricted stock compensation totaling 187,400 shares to directors and employees. There is no change to the full-year earnings forecast.
Key Products
Growth Drivers
- Expansion of orders for hotel renovation work and similar projects in the Construction Business, driven by recovering inbound demand (up 37.3% year on year in 1Q FY2026)
- Steady expansion of demand for facility function upgrades and renovations in the restaurant, hospitality, and retail industries
- Strong inquiries for large-scale renovation projects from real estate developers and railway-affiliated companies in the Commercial Facility Production Business
- Continued increase in inquiries for renovation, interior, and facility work (downstream processes) at existing facilities
- Increasing trend in HACCP compliance and food safety standard acquisition needs for food factories, as well as capital investment in refrigeration and freezing equipment
- Maintenance and improvement of gross profit margin through progress in securing appropriate order pricing (18.4% in 1Q FY2026)
- Strengthening of talent acquisition and incentives through the introduction of a restricted stock compensation program
Risks
- Characteristics of the downstream business being susceptible to the progress and schedule changes of upstream construction work carried out by general contractors and others
- Continued labor shortages and rising labor costs due to the long-term decline and aging of the workforce across the construction industry as a whole
- Risk of increased cost burden due to persistently high material prices
- Credit risk related to long-term accounts receivable (balance of ¥1,499 million at the end of 1Q, with an allowance for doubtful accounts of ¥781 million recorded)
- Risk of gaps between order intake periods in the Food Factory & Distribution Warehouse Production Business (down 54.0% year on year in 1Q FY2026)
- Impact on energy prices and price trends due to uncertainty regarding future U.S. trade policy and geopolitical risks
- Pressure on net profit due to an increase in income tax adjustment (1Q FY2026: ¥265 million, up ¥146 million year on year)
- Stock dilution (approximately 1.65%) due to the issuance of restricted stock compensation (a total of 187,400 shares to directors and employees)
Last updated: March 27, 2026