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

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Fri Jan 10, 2025 3:30 pm JST Revision

8985 Japan Hotel REIT Investment

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%