Tokyu Fudosan Holdings

Retail & mixed-use property · 3289

The Japan read

From the company's own filing for Q1 (Apr–Jun 2026) · reported 2026-08-06 · the filing

InboundTokyu Fudosan says tenant sales at its commercial facilities are running above pre-COVID levels on inbound spending, with central street-front shops strong and fewer Chinese visitors offset by other nationalities.
InboundTokyu Stay hotels averaged 81.1% occupancy, a ¥22,244 room rate and ¥18,032 RevPAR in the quarter; Chinese guests fell but other nationalities kept total foreign guests rising.
StoresTokyu Stay Mercure Hiroshima (182 rooms) opened in May and Tokyu Stay Shibuya Ebisu (77 rooms) in March; listed as planned renewals, Tokyu Stay Shinjuku is due in autumn 2026 and Gotanda in winter 2026.

Other callouts in the filing

BasisUrban development's fall is deal timing: office and commercial revenue dropped ¥25.8bn with no buildings sold to investors this quarter; excluding such sales, office and commercial profit eased to ¥6.5bn from ¥8.1bn.
One-offThe management-and-operation jump is mostly a one-off ¥16.6bn profit from selling wellness-business assets to investors; wellness profit excluding those sales fell to ¥1.8bn from ¥2.2bn.
One-offNet profit fell because last year's quarter included a ¥9.5bn gain on selling shares in an affiliate, with no special gains this time; the 11 May full-year forecast is unchanged.

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

Show figures in

Q1 (Apr–Jun 2026) · Year-to-Date

Reported 2026-08-06

Revenue¥285.8bn−0.8%

Operating profit¥46.6bn+12.7%

Net income¥25.5bn−16.8%

Tokyu Fudosan's urban-development arm — the Shibuya towers and the commercial property around them — had a hard quarter: segment revenue fell 26.4% to ¥72.3bn and segment profit 46.2% to ¥11.6bn, on the timing of property sales. Management and operation more than made up for it, with profit of ¥21.2bn against ¥4.5bn, mostly on a one-off ¥16.6bn gain from selling wellness assets to investors. Group revenue was flat at ¥285.8bn (−0.8%) while operating profit rose 12.7% to ¥46.6bn and net income fell 16.8% to ¥25.5bn. Full-year guidance is unchanged and points sharply up: ¥1,400.0bn revenue (+12.4%).