Industries›61 companies · latest full-year results
An industry encompassing the construction of housing and infrastructure, along with urban development and real estate management.
The 61 construction & real estate companies we cover had combined revenue of ¥50.8T (+6.1% year over year) and operating profit of ¥5.1T, an industry-wide operating margin of 10.1%.
Daiwa House leads on revenue (¥5.6T, a 11.0% share), and the top three hold 25% of industry sales. 47 grew both revenue and operating profit; 1 saw both fall.
Heiwa Real Estate has the highest operating margin (29.7%); average pay across the industry is ¥9.86M, highest at Hulic (¥20.4M).








Industry total
Construction & Real Estate · 61 companies
YoY compares companies with prior-year figures
StockShares are +3.4% over a year, behind the all-industry average (+14.9%) — #42 of 53 industries.Details
GuidanceCompany plans for FY2027 (58 companies combined): revenue +7.7%, operating profit +1.5%. Planned profit growth is below the all-industry plan (+13.0%).Details
Revisions11 raised and 0 cut this year's forecast. The biggest revision: YURTEC (operating profit +16.9%).Details
Latest resultsYear to date through Q1, 33 companies combined: revenue +7.2%, operating profit +17.1% year over year. 5 are ahead of an even pace toward their full-year plan, 28 behind.Details
Disclosures30 TSE filings in the last 90 days (guidance revisions 5, tender offers 4, M&A and restructuring 4).Details
Earnings dates40 companies report within 30 days, starting with Sumitomo Forestry on Nov 5 and Seikitokyu on Nov 5.Details
None
| Company | Op. profit (last FY) | This year's plan | Plan change | Revision | Progress (Q2 cumulative) |
|---|---|---|---|---|---|
![]() | ¥614.9B | ¥400.0B | −34.9% | - | - |
![]() | ¥341.4B | ¥350.0B | +2.5% | Unchanged | 52% |
![]() | ¥240.8B | ¥200.0B | −16.9% | Unchanged | 20% |
![]() | ¥397.8B | ¥410.0B | +3.1% | - | - |
![]() | ¥194.7B | ¥180.0B | −7.5% | - | - |
![]() | ¥168.7B | ¥157.0B | −6.9% | Unchanged | 15% |
![]() | ¥188.0B | ¥188.0B | +0.0% | Unchanged | 24% |
![]() | ¥118.7B | ¥153.0B | +28.9% | Unchanged | 13% |
![]() | ¥135.3B | ¥150.0B | +10.9% | Up +5.6% | 53% |
![]() | ¥329.7B | ¥370.0B | +12.2% | Unchanged | 33% |
![]() | ¥94.4B | ¥103.6B | +9.7% | Unchanged | 25% |
| ¥145.9B | ¥180.0B | +23.3% | Up +5.9% | 67% | |
![]() | ¥98.7B | ¥110.0B | +11.4% | Unchanged | 27% |
![]() | ¥166.9B | ¥190.0B | +13.9% | Unchanged | 25% |
![]() | ¥75.8B | ¥77.8B | +2.6% | - | - |
Plans are each company's forecast for the current year from its earnings release. Plan change compares with last year's results; revisions compare the latest forecast with the first one given for the year. Progress is cumulative operating profit ÷ the full-year plan, against an even pace of 25% after Q1, 50% after Q2 and 75% after Q3 (a rough guide for seasonal businesses).
| Change | 1M | 3M | 1Y |
|---|---|---|---|
| Construction & Real Estate | −3.1% | −4.7% | +3.4% |
| All industries | −2.7% | −0.9% | +14.9% |
| vs. market | −0.4pt | −3.8pt | −11.6pt |
Rank among industries:3M #34/531Y #42/53
Industry returns are an equal-weighted (geometric) average of member companies. Prices are split-adjusted closes for reference, not real-time.
Totals for the 26 covered companies with full-year results for every year from FY2022 to FY2026. The set is fixed, so adding or removing coverage doesn't move the figures.



























Average salary is the reporting entity's figure (often a holding company) from its annual securities report. Holding companies with fewer than 50 staff are excluded.
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| Company | Revenue | YoY | Operating profit | Margin | Share | Average salary | Average age | Employees |
|---|---|---|---|---|---|---|---|---|
1![]() | ¥5.6T | +2.6% | ¥614.9B | 11.0% | 11.0% | ¥9.92M | 40.6 | 16,192 |
2![]() | ¥4.2T | +3.4% | ¥341.4B | 8.1% | 8.3% | ¥8.83M | 43.9 | 15,664 |
3![]() | ¥3.1T | +5.3% | ¥240.8B | 7.8% | 6.0% | ¥12.5M | 41.2 | 8,959 |
4![]() | ¥2.7T | +3.2% | ¥397.8B | 14.7% | 5.3% | ¥17.6M | 42.4 | 1,928 |
5![]() | ¥2.6T | −0.2% | ¥194.7B | 7.5% | 5.1% | ¥12.4M | 42.0 | 9,472 |
6![]() | ¥2.3T | +10.4% | ¥168.7B | 7.4% | 4.5% | ¥9.32M | 44.3 | 5,341 |
7![]() | ¥2.1T | −3.0% | ¥188.0B | 9.0% | 4.1% | ¥10.6M | 42.4 | 8,994 |
8![]() | ¥2.1T | +5.8% | ¥118.7B | 5.8% | 4.1% | ¥10.1M | 43.7 | 11,163 |
9![]() | ¥2.0T | +7.7% | ¥135.3B | 6.8% | 3.9% | ¥9.18M | 43.3 | 8,299 |
10![]() | ¥1.7T | +10.5% | ¥329.7B | 18.9% | 3.4% | ¥13.5M | 40.5 | 1,242 |
11![]() | ¥1.5T | +3.4% | ¥94.4B | 6.3% | 3.0% | ¥7.55M | 44.6 | 119 |
| 12 | ¥1.3T | +3.1% | ¥145.9B | 10.9% | 2.6% | ¥9.14M | 34.7 | 307 |
13![]() | ¥1.3T | +8.1% | ¥98.7B | 7.8% | 2.5% | ¥10.6M | 40.3 | 2,556 |
14![]() | ¥1.2T | +8.3% | ¥166.9B | 13.4% | 2.5% | ¥12.8M | 42.8 | 118 |
15![]() | ¥1.1T | +32.7% | ¥75.8B | 6.7% | 2.2% | ¥11.1M | 42.8 | 102 |
16![]() | ¥1.1T | +4.3% | ¥299.2B | 28.3% | 2.1% | ¥7.49M | 42.6 | 5,773 |
| 17 | ¥942.5B | +24.4% | ¥138.2B | 14.7% | 1.9% | ¥11.8M | 41.7 | 403 |
| 18 | ¥794.3B | +9.2% | ¥55.3B | 7.0% | 1.6% | ¥9.36M | 41.3 | 3,439 |
19![]() | ¥787.7B | +17.4% | ¥52.0B | 6.6% | 1.6% | ¥7.76M | 44.7 | 3,778 |
20![]() | ¥750.7B | +6.5% | ¥90.3B | 12.0% | 1.5% | ¥9.97M | 41.6 | 8,676 |
21![]() | ¥742.0B | +10.4% | ¥83.1B | 11.2% | 1.5% | ¥10.1M | 42.4 | 8,110 |
22![]() | ¥727.4B | +22.9% | ¥186.8B | 25.7% | 1.4% | ¥20.4M | 38.9 | 233 |
23![]() | ¥645.7B | +10.1% | ¥38.2B | 5.9% | 1.3% | ¥10.4M | 44.3 | 4,404 |
24![]() | ¥630.6B | +2.6% | ¥50.9B | 8.1% | 1.2% | ¥9.62M | 50.2 | 129 |
25![]() | ¥602.4B | +4.1% | ¥34.3B | 5.7% | 1.2% | ¥7.73M | 44.9 | 3,589 |
26![]() | ¥487.7B | −2.2% | ¥27.1B | 5.6% | 1.0% | ¥9.18M | 44.0 | 2,740 |
| 27 | ¥476.1B | +0.5% | ¥54.6B | 11.5% | 0.9% | ¥7.13M | 39.0 | 6,620 |
28![]() | ¥474.6B | +2.3% | ¥95.8B | 20.2% | 0.9% | ¥11.1M | 41.9 | 830 |
29![]() | ¥444.8B | +3.0% | ¥36.0B | 8.1% | 0.9% | ¥6.50M | 41.1 | 2,952 |
30![]() | ¥439.6B | +3.4% | ¥33.6B | 7.6% | 0.9% | ¥10.1M | 46.3 | 3,333 |
31![]() | ¥423.9B | +11.1% | ¥47.7B | 11.3% | 0.8% | ¥11.3M | 41.6 | 2,365 |
32![]() | ¥406.2B | +9.5% | ¥37.6B | 9.2% | 0.8% | ¥7.42M | 38.1 | 734 |
33![]() | ¥396.0B | +8.0% | ¥28.0B | 7.1% | 0.8% | ¥10.6M | 43.8 | 2,706 |
| 34 | ¥393.9B | +15.0% | ¥27.0B | 6.9% | 0.8% | ¥5.17M | 32.3 | 1,456 |
35![]() | ¥386.5B | +5.4% | ¥22.4B | 5.8% | 0.8% | ¥6.22M | 39.7 | 5,718 |
36![]() | ¥358.7B | +8.5% | ¥24.2B | 6.7% | 0.7% | ¥10.2M | 44.0 | 1,880 |
37![]() | ¥341.2B | +16.4% | ¥16.3B | 4.8% | 0.7% | ¥10.3M | 43.5 | 2,562 |
38![]() | ¥307.2B | +3.0% | ¥15.9B | 5.2% | 0.6% | ¥10.1M | 42.6 | 2,492 |
39![]() | ¥252.3B | −1.9% | ¥18.0B | 7.2% | 0.5% | ¥8.12M | 41.7 | 3,857 |
40![]() | ¥251.9B | +8.1% | ¥36.3B | 14.4% | 0.5% | ¥6.58M | 37.5 | 155 |
41![]() | ¥229.2B | +5.7% | ¥23.6B | 10.3% | 0.5% | ¥8.95M | 42.8 | 2,582 |
42![]() | ¥227.8B | +2.7% | ¥26.2B | 11.5% | 0.4% | ¥8.45M | 40.2 | 3,465 |
43![]() | ¥197.7B | −1.5% | ¥3.8B | 1.9% | 0.4% | ¥7.17M | 41.3 | 3,126 |
| 44 | ¥175.3B | +5.0% | ¥7.2B | 4.1% | 0.3% | ¥9.35M | 44.9 | 1,264 |
45![]() | ¥169.4B | +20.4% | ¥13.7B | 8.1% | 0.3% | ¥8.52M | 41.4 | 1,032 |
46![]() | ¥163.8B | +69.7% | ¥27.9B | 17.0% | 0.3% | ¥16.8M | 37.5 | 349 |
47![]() | ¥163.0B | +1.9% | ¥17.6B | 10.8% | 0.3% | ¥9.54M | 40.6 | 1,714 |
48![]() | ¥154.9B | +12.5% | ¥15.1B | 9.8% | 0.3% | ¥10.9M | 43.3 | 1,256 |
| 49 | ¥151.9B | +17.2% | ¥18.3B | 12.0% | 0.3% | ¥5.42M | 33.7 | 737 |
| 50 | ¥139.2B | +14.6% | ¥17.2B | 12.4% | 0.3% | ¥9.40M | 44.3 | 1,028 |
51![]() | ¥137.0B | +20.6% | ¥26.1B | 19.0% | 0.3% | ¥7.90M | 40.8 | 320 |
52![]() | ¥121.3B | −4.1% | ¥5.8B | 4.8% | 0.2% | ¥8.70M | 44.5 | 1,060 |
53![]() | ¥104.8B | +14.0% | ¥11.7B | 11.1% | 0.2% | ¥12.2M | 44.6 | 1,080 |
| 54 | ¥95.3B | −4.1% | ¥6.4B | 6.7% | 0.2% | ¥8.19M | 40.7 | 1,011 |
55![]() | ¥94.7B | +15.2% | ¥22.3B | 23.6% | 0.2% | ¥9.04M | 36.6 | 282 |
56![]() | ¥89.2B | −1.7% | ¥20.8B | 23.4% | 0.2% | - | 43.6 | 22 |
57![]() | ¥50.9B | +20.9% | ¥15.1B | 29.7% | 0.1% | ¥12.3M | 42.1 | 107 |
58![]() | ¥30.4B | +3.9% | ¥8.9B | 29.3% | 0.1% | ¥7.64M | 31.9 | 78 |
59![]() | - | - | - | - | - | - | - | - |
60![]() | - | - | - | - | - | ¥11.7M | 43.6 | 116 |
61![]() | - | - | - | - | - | - | 39.1 | 33 |
| Industry total / average | ¥50.8T | +6.1% | ¥5.1T | 10.1% | 100% | ¥9.86M | 41.6 | 190,052 |
Revenue and operating profit are from each company's latest full-year results. Green margins are at or above the industry margin. Financial institutions may not report operating profit.



















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