Daiwa House buys 30% of Miller Homes: analysts see 18.00% upside for Daiwa House stock

Daiwa House (JP3505000004) agreed to acquire a 30.00 percent minority stake in Miller Homes on September 17, 2026, while analysts see 18.00 percent upside for Daiwa House stock. Investing.com lists an average 12-month target of JPY 2,540.00 against a Tokyo reference price of JPY 2,152.50 on October 6, 2026.

Miller Homes adds overseas exposure

According to Apollo on September 17, 2026, Apollo-managed funds agreed to sell the stake while retaining control of Miller Homes. The transaction remains subject to regulatory approvals and other closing conditions, with completion expected later in 2026.

Miller Homes completes 5,000 homes annually and is targeting 7,000 new homes per year. That represents a planned increase of 2,000 homes, or 40.00 percent, giving Daiwa House exposure to a measurable expansion plan rather than a simple financial holding.

Revenue beats the first-quarter forecast

Investing.com reported that Daiwa House posted revenue of JPY 1.41 trillion in the first quarter of fiscal 2026, compared with a JPY 1.36 trillion forecast. Earnings per share reached JPY 67.17 against a JPY 62.35 forecast, a difference of JPY 4.82.

The latest operating picture therefore combines forecast-beating quarterly figures with an international housing investment whose financial terms were not disclosed. The main execution issue is timing: Miller Homes must secure approvals before the transaction can close, while its 7,000-home target depends on continued expansion across multiple housing tenures.

Market value and euro reference

Daiwa House had a market capitalization of JPY 2.7 trillion on October 6, 2026, and its Tokyo-listed stock stood within a 52-week range of JPY 2,040.50 to JPY 4,558.00. The prior close at Lang & Schwarz was EUR 12.05 on October 5, 2026.

The further course of trading is shown by the continuously updated real-time quote of Daiwa House stock.

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