Nomura Real Estate Holdings, Inc., First Half Ordinary Profit Increases by 9%, July-September Ordinary Profit Increases by 35%

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Fri Oct 25, 2024 3:00 pm JST Earnings

3231 Nomura Real Estate Holdings, Inc. 【J-GAAP】

Earnings Report

Nomura Real Estate Holdings, Inc. <3231> [TSE-P] announced its financial results after the market closed on October 25th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 9.2% from the same period last year, reaching 59.6 billion yen. The progress rate against the 100 billion yen full-year plan was 59.7%, also surpassing the five-year average of 40.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 7.5% from the same period last year to 40.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 35.5% from the same period last year, reaching 25.9 billion yen. The operating profit margin rose from 14.4% in the same period last year to 16.7%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	314,756	48,884	47,046	33,874	190.7	50.0	Oct 27, 2022	J-GAAP
Apr - Sep, 2023	368,318	61,372	54,615	32,956	189.4	55.6	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	381,343	68,363	59,652	42,514	246.0	59.7	Oct 25, 2024	J-GAAP
YoY	+3.5%	+11.4%	+9.2%	+29.0%	+29.9%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	82.50	Apr 25, 2024	J-GAAP
Apr - Sep, 2024 Results	381,343	68,363	59,652	42,514	246.0	82.50	Oct 25, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	366,397	50,742	43,633	35,208	202.6	75	Apr 25, 2024	J-GAAP
Oct - Mar, 2024 Guidance	408,657	45,637	40,348	27,486	159.5	82.50	Oct 25, 2024	J-GAAP
YoY	+11.5%	-10.1%	-7.5%	-21.9%	-21.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	654,735	99,598	94,121	64,520	365.3	120	Apr 26, 2023	J-GAAP
Mar, 2024	734,715	112,114	98,248	68,164	392.3	140	Apr 25, 2024	J-GAAP
Mar, 2025 Guidance	790,000	114,000	100,000	70,000	406.3	165	Apr 25, 2024	J-GAAP
YoY	+7.5%	+1.7%	+1.8%	+2.7%	+3.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	158,952	22,887	19,144	8,638	49.6	14.4	Oct 26, 2023	J-GAAP
Oct - Dec, 2023	150,027	17,247	15,011	10,269	59.0	11.5	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	216,370	33,495	28,622	24,939	143.5	15.5	Apr 25, 2024	J-GAAP
Apr - Jun, 2024	200,915	38,197	33,721	24,418	141.4	19.0	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	180,428	30,166	25,931	18,096	104.7	16.7	Oct 25, 2024	J-GAAP
YoY	+13.5%	+31.8%	+35.5%	+109.5%	+110.9%