Greenland Resort Company, which operates amusement parks, golf courses and hotels across Kyushu and Hokkaido, reported a sharp fall in operating profit for the six months through June 2026. Net sales held almost flat at ¥3.00bn, but operating profit dropped 32.9% year-on-year to ¥186.1mn and ordinary profit fell 38.6% to ¥171.0mn.
| Metric | H1 to June 2026 | H1 to June 2025 | Change YoY |
|---|---|---|---|
| Net sales | ¥3.00bn | ¥3.01bn | -0.3% |
| Operating profit | ¥186.1mn | ¥277.2mn | -32.9% |
| Ordinary profit | ¥171.0mn | ¥278.7mn | -38.6% |
| Net profit (parent) | ¥206.4mn | ¥202.3mn | +2.1% |
The drag came from the company's amusement park in Arao, Kumamoto, known as Greenland. Poor weather during the second half of spring break cut attendance there by 28,016 visitors to 332,492, and sales at the park fell ¥19.2mn to ¥1.12bn. Across the whole amusement-park segment, including Hokkaido operations, visitor numbers fell 35,399 to 385,556 and segment revenue slipped ¥11.6mn to ¥1.35bn. The golf and hotel segments both posted small revenue gains on higher per-customer spending tied to earlier rate increases, and the real-estate segment grew on renegotiated tenant rents. The civil-engineering and construction-materials segment lost ¥22.7mn in revenue as work orders were sluggish.
Net profit attributable to parent shareholders moved the opposite way from operating profit, rising 2.1% to ¥206.4mn. The reason is a completed divestiture, not a trading rebound. A consolidated Hokkaido subsidiary sold the hotel business it operated there to SeedC KK, a wholly owned subsidiary of GrowX Holdings KK, on July 1, 2026, for no cash consideration. The deal produced a ¥34.8mn extraordinary loss on transfer-related costs, but it also prompted the company to reassess the recoverability of its deferred tax assets. The resulting deferred-tax adjustment income was large enough to offset the operating-profit decline and lift the bottom line anyway.
Total assets stood at ¥20.06bn at the half-year mark, and the equity ratio was 53.3%, down slightly from 53.8% a year earlier. The board declared an interim dividend of ¥5 per share on August 10, 2026, payable September 1 to shareholders of record as of June 30. The company's president separately certified the half-year report's accuracy in a routine compliance filing submitted on August 13, 2026, the same day the semiannual report itself was filed.
The results cover the final year of the company's three-year "Mid-Term Management Plan 2026," announced in February 2024. Its targets will be tested against the full-year numbers once the books close in December.