Nomura Real Estate Master Fund, 9% Decrease in Ordinary Profit for The Current Fiscal Year

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Thu Oct 17, 2024 3:30 pm JST Earnings

3462 Nomura Real Estate Master Fund

Earnings Report

Nomura Real Estate Master Fund <3462> [TSE-REIT] announced its financial results after the market closed on October 17th (15:30). ordinary profit for the fiscal year ending August 2024 expanded to 36.5% from the previous period to 17.6 billion yen. However, for the fiscal year ending February 2025, the profit is expected to decrease by 9.4% from the previous period to 16 billion yen.

At the same time, the company increased the distribution for the previous term from 3391 yen to 3450 yen (compared to 3414 yen in the prior term), and plans to set the distribution for the current term at 3446 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
Aug, 2023	43,645	18,931	16,729	16,746	3,551.0	3,402	Oct 18, 2023	J-GAAP
Feb, 2024	39,375	15,172	12,958	12,958	2,748.0	3,414	Apr 17, 2024	J-GAAP
Aug, 2024	45,081	19,941	17,689	17,688	3,759.0	3,450	Oct 17, 2024	J-GAAP
YoY	+14.5%	+31.4%	+36.5%	+36.5%	+36.8%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2024 Guidance	45,153	19,809	17,569	17,568	3,763.9	3,391	Jul 9, 2024	J-GAAP
Aug, 2024 Results	45,081	19,941	17,689	17,688	3,759.0	3,450	Oct 17, 2024	J-GAAP
Revision Rate	-0.2%	+0.7%	+0.7%	+0.7%	-0.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2024	39,375	15,172	12,958	12,958	2,748.0	3,414	Apr 17, 2024	J-GAAP
Aug, 2024	45,081	19,941	17,689	17,688	3,759.0	3,450	Oct 17, 2024	J-GAAP
Feb, 2025 Guidance	43,278	18,397	16,027	16,026	3,449.2	3,446	Oct 17, 2024	J-GAAP
YoY	-4.0%	-7.7%	-9.4%	-9.4%	-8.2%

Quarterly Results