Tokaido REIT,Inc., 3% Increase in Ordinary Profit, Update Record High for Sixth Consecutive Term

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Tue Sep 17, 2024 3:00 pm JST Earnings

2989 Tokaido REIT,Inc.

Earnings Report

Tokaido REIT,Inc. <2989> [TSE-REIT] announced its financial results after the market closed on September 17th (15:00). ordinary profit for the fiscal year ending July 2024 increased by 12.5% from the previous period to 915 million yen. For the fiscal year ending January 2025, the profit is expected to grow by 3.0% to 942 million yen, marking the sixth consecutive term of record-high profits.

At the same time, the company increased the distribution for the previous term from 3255 yen to 3284 yen (compared to 3351 yen in the prior term), and plans to set the distribution for the current term at 3380 yen.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul, 2023	1,616	966	811	810	3,341.0	3,342	Sep 15, 2023	J-GAAP
Jan, 2024	1,640	949	813	812	3,351.0	3,351	Mar 15, 2024	J-GAAP
Jul, 2024	1,900	1,098	915	914	3,284.0	3,284	Sep 17, 2024	J-GAAP
YoY	+15.9%	+15.7%	+12.5%	+12.6%	-2.0%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul, 2024 Guidance	1,907	1,079	907	906	3,254.3	3,255	Mar 15, 2024	J-GAAP
Jul, 2024 Results	1,900	1,098	915	914	3,284.0	3,284	Sep 17, 2024	J-GAAP
Revision Rate	-0.4%	+1.8%	+0.9%	+0.9%	+0.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2024	1,640	949	813	812	3,351.0	3,351	Mar 15, 2024	J-GAAP
Jul, 2024	1,900	1,098	915	914	3,284.0	3,284	Sep 17, 2024	J-GAAP
Jan, 2025 Guidance	1,989	1,095	942	941	3,380.0	3,380	Sep 17, 2024	J-GAAP
YoY	+4.7%	-0.3%	+3.0%	+3.0%	+2.9%

Quarterly Results