Tokyo Tatemono Co., Ltd., July-September (3Q) Ordinary Profit Decreases by 30%

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Thu Nov 7, 2024 3:30 pm JST Earnings

8804 Tokyo Tatemono Co., Ltd. 【J-GAAP】

Earnings Report

Tokyo Tatemono Co., Ltd. <8804> [TSE-P] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 21.9% from the same period last year, reaching 53.4 billion yen. The progress rate against the 69.5 billion yen full-year plan was 76.8%, also surpassing the five-year average of 74.2%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to drop by 37.3% from the same period last year to 16 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit dropped to 5.27 billion yen, a 30.3% decrease compared to the same period last year. However, the operating profit margin rose from 12.0% in the same period last year to 12.6%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	268,455	55,050	56,670	39,391	188.6	89.2	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	238,199	43,078	43,809	29,085	139.2	63.1	Nov 9, 2023	J-GAAP
Jan - Sep, 2024	359,896	61,636	53,409	35,551	170.2	76.8	Nov 7, 2024	J-GAAP
YoY	+51.1%	+43.1%	+21.9%	+22.2%	+22.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	196,276	34,458	33,229	21,268	101.8	37	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	187,384	26,264	21,366	16,808	80.5	43	Aug 8, 2024	J-GAAP
YoY	-4.5%	-23.8%	-35.7%	-21.0%	-20.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	349,940	64,478	63,531	43,062	206.2	65	Feb 13, 2023	J-GAAP
Dec, 2023	375,946	70,508	69,471	45,084	215.8	73	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	465,000	77,500	69,500	48,500	232.3	80	Aug 8, 2024	J-GAAP
YoY	+23.7%	+9.9%	+0.0%	+7.6%	+7.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	58,529	7,028	7,567	5,269	25.2	12.0	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	137,747	27,430	25,662	15,999	76.6	19.9	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	116,195	19,167	19,420	11,661	55.8	16.5	May 9, 2024	J-GAAP
Apr - Jun, 2024	161,421	32,069	28,714	20,031	95.9	19.9	Aug 8, 2024	J-GAAP
Jul - Sep, 2024	82,280	10,400	5,275	3,859	18.5	12.6	Nov 7, 2024	J-GAAP
YoY	+40.6%	+48.0%	-30.3%	-26.8%	-26.7%