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Japan Hotel REIT, Last Fiscal Year Ordinary Profit Revised Upward by 2%, Exceeded Record Profit Forecast, Distribution Revised Upward by 75 yen

Fri Jan 10, 2025 3:30 pm JST Revision

8985 Japan Hotel REIT Investment Corporation

Guidance Update Report

Japan Hotel REIT Investment <8985> [TSE REIT] announced a revision to its performance and dividend after the market closed on January 10th (15:30). The ordinary profit for the fiscal year ending December 2024 has been revised upward 2.2%, from the previous forecast of 17.6 billion yen to 18 billion yen (compared to 13.1 billion yen in the previous period), increasing the growth rate from 34.3% to 37.3%. The company has further increased its previous forecast of record profits for the first time in six years.

Based on the upwardly revised full-year plan announced by the company, our calculation indicates that the July to December period (2H) ordinary profit is expected to increase 3.8%, from the previous forecast of 10.2 billion yen to 10.5 billion yen (compared to 8.23 billion yen in the same period of the previous year), increasing the growth rate from 23.9% to 28.7%.

In light of the strong performance, the company has increased its planned distribution for the last fiscal year from the original plan of 3815 yen to 3890 yen (compared to 3015 yen in the previous period).

Kabutan News

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 Prev 18,548 11,700 10,211 10,211 2,003.3 3,815 Aug 22, 2024 J-GAAP
Jul - Dec, 2024 New 18,955 12,059 10,599 10,599 2,079.5 3,890 Jan 10, 2025 J-GAAP
Revision Rate +2.2% +3.1% +3.8% +3.8% +3.8%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 32,910 20,198 17,645 17,644 3,461.6 3,815 Aug 22, 2024 J-GAAP
Dec, 2024 New 33,317 20,557 18,033 18,032 3,537.8 3,890 Jan 10, 2025 J-GAAP
Revision Rate +1.2% +1.8% +2.2% +2.2% +2.2%

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 15,286 9,255 8,238 8,238 1,824.6 3,015 Feb 21, 2024 J-GAAP
Jul - Dec, 2024 Guidance 18,955 12,059 10,599 10,599 2,079.5 3,890 Jan 10, 2025 J-GAAP
YoY +24.0% +30.3% +28.7% +28.7% +14.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 14,912 4,296 2,672 2,671 598.0 682 Feb 22, 2023 J-GAAP
Dec, 2023 26,574 15,014 13,135 13,134 2,909.0 3,015 Feb 21, 2024 J-GAAP
Dec, 2024 Guidance 33,317 20,557 18,033 18,032 3,537.8 3,890 Jan 10, 2025 J-GAAP
YoY +25.4% +36.9% +37.3% +37.3% +21.6%

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