Interim report
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DISCLAIMER : This document has been translated from a part of the Japanese original for reference purposes only . In the event of any discrepancy between this translated document and the Japanese original , the original shall prevail . Consolidated Financial Results for the Six Months Ended June 30 , 2026 ( Under Japanese GAAP ) Company name : Listing : Tokyo Tatemono Co. , Ltd. Tokyo Stock Exchange Securities code : 8804 URL : Representative : Inquiries : Telephone : https://tatemono.com/english/ Katsuhito Ozawa , Representative Director , President & Chief Executive Officer Munetoshi Harunaga , Managing Officer , General Manager of Corporate Communications Department + 81-3-3274-1984 Scheduled date to file semi - annual securities report : Scheduled date to commence dividend payments : Preparation of supplementary material on financial results : Holding of financial results briefing : August 7 , 2026 September 8 , 2026 Yes Yes ( for institutional investors and analysts ) August 6 , 2026 ( Yen amounts are rounded down to millions , unless otherwise noted . ) 1. Consolidated financial results for the six months ended June 30 , 2026 ( from January 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated operating results ( cumulative ) Operating revenues Operating profit Ordinary profit ( Percentages indicate year - on - year changes . ) Profit attributable to owners of parent Six months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % June 30 , 2026 194,415 ( 6.9 ) 39,852 17.1 31,411 12.5 23,364 13.7 June 30 , 2025 208,793 ( 24.8 ) 34,033 ( 33.6 ) 27,912 ( 42.0 ) 20,549 ( 35.2 ) Note : Comprehensive income For the six months ended June 30 , 2026 : For the six months ended June 30 , 2025 : Basic earnings per share ¥ 29,543 million ¥ 22,886 million [ 29.1 % ] [ ( 41.3 ) % ] Diluted earnings per share Six months ended June 30 , 2026 June 30 , 2025 Yen Yen 112.61 98.62 ( 2 ) Consolidated financial position As of June 30 , 2026 December 31 , 2025 Reference : Equity Total assets Millions of yen 2,476,163 2,272,720 As of June 30 , 2026 : As of December 31 , 2025 : ¥ 606,862 million ¥ 591,024 million 2 . Cash dividends Fiscal year ended December 31 , 2025 Net assets Equity - to - asset ratio Millions of yen % 619,013 24.5 603,137 26.0 First quarter - end Second quarter - end Yen Yen 48.00 Net assets per share Yen 2,929.73 2,846.85 Annual dividends per share Third quarter - end Fiscal year - end Total Yen Yen Yen 57.00 105.00 Fiscal year ending December 31 , 2026 Fiscal year ending December 31 , 2026 ( Forecast ) Note : Revisions to the forecast of cash dividends most recently announced : Yes 61.00 65.00 For details of the revision of the dividend forecast , please refer to the " Notice Concerning Revisions to Forecast of Full - year Consolidated Financial Results of Operations and Dividend Forecast " announced today ( August 6 , 2026 ) . 126.00
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3. Forecast of consolidated financial results for the fiscal year ending December 31, 2026 (from January 1, 2026 to December 31, 2026) (Percentages indicate year-on-year changes.) Operating revenues Operating profit Ordinary profit Profit attributable to owners of parent Basic earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen Fiscal year ending December 31, 2026 524,000 10.4 105,500 10.2 83,500 6.8 65,000 10.4 313.54 Note: Revisions to the earnings forecasts most recently announced: Yes For details of the revision of the consolidated earnings forecast, please refer to the "Notice Concerning Revisions to Forecast of Full-year Consolidated Financial Results of Operations and Dividend Forecast" announced today (August 6, 2026). * Notes (1) Significant changes in the scope of consolidation during the period: Yes Newly included: 1 company (Kawagoe Logistics Development Tokutei Mokuteki Kaisha) Excluded: None (2) Adoption of accounting treatment specific to the preparation of semi-annual consolidated financial statements: None (3) Changes in accounting policies, changes in accounting estimates, and restatement (i) Changes in accounting policies due to revisions to accounting standards and other regulations: None (ii) Changes in accounting policies due to other reasons: None (iii) Changes in accounting estimates: None (iv) Restatement: None (4) Number of issued shares (common shares) (i) Total number of issued shares at the end of the period (including treasury shares) As of June 30, 2026 207,978,574 shares As of December 31, 2025 207,978,574 shares (ii) Number of treasury shares at the end of the period As of June 30, 2026 839,526 shares As of December 31, 2025 372,008 shares (iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year) Six months ended June 30, 2026 207,485,836 shares Six months ended June 30, 2025 208,360,810 shares *The Company has introduced a stock compensation plan, “Board Benefit Trust (BBT).” The shares of the Company held by the trust are included in the number of treasury shares at the end of the period and the treasury shares deducted in the calculation of the average number of shares outstanding during the period *Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.
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Semi-annual consolidated balance sheet (Millions of yen) As of December 31, 2025 As of June 30, 2026 Assets Current assets Cash and deposits 152,294 94,284 Trade notes, accounts receivable and contract assets 16,653 13,540 Real estate for sale 271,892 338,083 Real estate for sale in process 340,230 382,577 Other 45,831 61,678 Allowance for doubtful accounts (37) (40) Total current assets 826,865 890,124 Non-current assets Property, plant and equipment Buildings and structures 439,441 501,047 Accumulated depreciation (204,434) (205,151) Buildings and structures, net 235,007 295,896 Land 613,321 705,835 Construction in progress 144,245 99,627 Other 37,071 40,193 Accumulated depreciation (24,516) (25,299) Other, net 12,555 14,893 Total property, plant and equipment 1,005,129 1,116,253 Intangible assets Leasehold interests in land 123,989 119,936 Other 12,551 12,358 Total intangible assets 136,541 132,295 Investments and other assets Investment securities 197,720 235,543 Investments in silent partnerships 22,956 17,643 Deferred tax assets 2,291 2,358 Leasehold and guarantee deposits 20,702 21,013 Retirement benefit asset 5,688 5,676 Other 56,208 56,598 Allowance for doubtful accounts (1,382) (1,342) Total investments and other assets 304,184 337,490 Total non-current assets 1,445,855 1,586,039 Total assets 2,272,720 2,476,163
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(Millions of yen) As of December 31, 2025 As of June 30, 2026 Liabilities Current liabilities Short-term borrowings 65,508 82,616 Commercial papers - 40,000 Current portion of bonds payable 10,000 10,000 Accounts payable - other 25,667 12,745 Income taxes payable 10,500 12,585 Provisions 1,148 1,266 Deposits received under real estate specified joint enterprise law 2,000 2,000 Other 81,091 83,182 Total current liabilities 195,915 244,397 Non-current liabilities Bonds payable 295,000 295,000 Long-term borrowings 973,366 1,107,466 Deferred tax liabilities 40,807 39,466 Deferred tax liabilities for land revaluation 28,077 28,077 Provisions 577 844 Leasehold and guarantee deposits received 84,749 89,488 Retirement benefit liability 12,520 12,587 Deposits received under real estate specified joint enterprise law 12,591 12,502 Other 25,976 27,319 Total non-current liabilities 1,473,667 1,612,752 Total liabilities 1,669,582 1,857,150 Net assets Shareholders' equity Share capital 92,451 92,451 Capital surplus 66,067 66,067 Retained earnings 303,315 314,828 Treasury shares (752) (2,279) Total shareholders' equity 461,082 471,067 Accumulated other comprehensive income Valuation difference on available-for-sale securities 74,561 75,232 Revaluation reserve for land 42,801 42,801 Foreign currency translation adjustment 9,534 14,853 Remeasurements of defined benefit plans 3,044 2,906 Total accumulated other comprehensive income 129,941 135,794 Non-controlling interests 12,113 12,150 Total net assets 603,137 619,013 Total liabilities and net assets 2,272,720 2,476,163
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Semi-annual consolidated statement of income (Millions of yen) Six months ended June 30, 2025 Six months ended June 30, 2026 Operating revenue 208,793 194,415 Operating costs 151,078 131,967 Operating gross profit 57,714 62,448 Selling, general and administrative expenses 23,681 22,595 Operating profit 34,033 39,852 Non-operating income Interest income 406 469 Dividend income 2,061 2,402 Share of profit of entities accounted for using equity method 143 - Foreign exchange gains - 77 Other 360 389 Total non-operating income 2,972 3,338 Non-operating expenses Interest expenses 5,862 9,135 Borrowing fee 741 948 Share of loss of entities accounted for using equity method - 1,194 Bond issuance costs 422 201 Foreign exchange losses 1,863 - Dividends paid on real estate specified joint enterprise law 139 169 Other 64 130 Total non-operating expenses 9,093 11,779 Ordinary profit 27,912 31,411 Extraordinary income Gain on sale of non-current assets 37 2,454 Gain on sale of investment securities 1,131 3,203 Gain on sales of investments in capital of subsidiaries and associates 1,289 - Gain on bargain purchase 133 - Gain on liquidation of subsidiaries and associates 11 - Reversal of allowance for doubtful accounts 238 46 Total extraordinary income 2,843 5,704 Extraordinary losses Loss on sale of non-current assets 1 3 Loss on retirement of non-current assets 113 142 Impairment losses 21 37 Loss on building reconstruction - 914 Total extraordinary losses 135 1,098 Profit before income taxes 30,620 36,018 Income taxes - current 8,369 13,507 Income taxes - deferred 1,279 (1,213) Total income taxes 9,648 12,293 Profit 20,971 23,724 Profit attributable to non-controlling interests 422 359 Profit attributable to owners of parent 20,549 23,364
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Semi-annual consolidated statement of comprehensive income (Millions of yen) Six months ended June 30, 2025 Six months ended June 30, 2026 Profit 20,971 23,724 Other comprehensive income Valuation difference on available-for-sale securities 6,231 639 Revaluation reserve for land (802) - Foreign currency translation adjustment (1,307) 4,715 Remeasurements of defined benefit plans, net of tax 48 (139) Share of other comprehensive income of entities accounted for using equity method (2,255) 604 Total other comprehensive income 1,915 5,818 Comprehensive income 22,886 29,543 Comprehensive income attributable to Comprehensive income attributable to owners of parent 22,368 29,217 Comprehensive income attributable to non-controlling interests 517 325