Ichigo Office REIT, 10% Decrease in Ordinary Profit for The Current Fiscal Year

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Mon Dec 16, 2024 3:30 pm JST Earnings

8975 Ichigo Office REIT Investment

Earnings Report

Ichigo Office REIT Investment <8975> [TSE REIT] announced its financial results after the market closed on December 16th (15:30). The ordinary profit for the fiscal year ending October 2024 increased 22.8% from the previous period to 4.08 billion yen. However, for the fiscal year ending April 2025, the profit is expected to decrease by 9.9% from the previous period to 3.67 billion yen.

At the same time, the company increased the distribution for the previous term from 2683 yen to 2692 yen (compared to 2199 yen in the prior term), and plans to set the distribution for the current term at 2368 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
Oct, 2023	7,914	3,914	3,096	3,095	2,045.0	2,115	Dec 15, 2023	J-GAAP
Apr, 2024	8,068	4,094	3,323	3,323	2,195.0	2,199	Jun 14, 2024	J-GAAP
Oct, 2024	9,223	4,991	4,082	4,081	2,635.0	2,692	Dec 16, 2024	J-GAAP
YoY	+14.3%	+21.9%	+22.8%	+22.8%	+20.0%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2024 Guidance	9,214	4,977	4,068	4,068	2,616.2	2,683	Jun 14, 2024	J-GAAP
Oct, 2024 Results	9,223	4,991	4,082	4,081	2,635.0	2,692	Dec 16, 2024	J-GAAP
Revision Rate	+0.1%	+0.3%	+0.3%	+0.3%	+0.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2024	8,068	4,094	3,323	3,323	2,195.0	2,199	Jun 14, 2024	J-GAAP
Oct, 2024	9,223	4,991	4,082	4,081	2,635.0	2,692	Dec 16, 2024	J-GAAP
Apr, 2025 Guidance	9,322	4,557	3,678	3,678	2,365.4	2,368	Dec 16, 2024	J-GAAP
YoY	+1.1%	-8.7%	-9.9%	-9.9%	-10.2%

Quarterly Results