Greens Co. (株式会社グリーンズ, TSE: 6547) is the kind of company that never makes headlines. A family-run hotel operator from Yokkaichi in Mie prefecture, central Japan’s unglamorous industrial coast, not Tokyo or Osaka, running mid-market hotels near train stations. It sits on the TSE Standard market and is also quoted in Nagoya, though almost all the volume goes through Tokyo. And yet, nine months into its current fiscal year, it has quietly put together one of the strongest stretches in its history.
You wouldn’t know that from the number most screeners show you. Greens closes its books at the end of June, so the first three quarters run from July 2025 to March 2026. Through those nine months revenue is up 11.5% and operating profit is up nearly 33%. By every measure of how the actual business is doing, things are going extremely well. And yet reported net income is down 2.3%.