Daiwa Office Investment, 4% Decrease in Ordinary Profit for The Current Fiscal Year

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Wed Jan 22, 2025 3:30 pm JST Earnings

8976 Daiwa Office Investment

Earnings Report

Daiwa Office Investment <8976> [TSE REIT] announced its financial results after the market closed on January 22nd (15:30). The ordinary profit for the fiscal year ending November 2024 increased 15.3% from the previous period to 7.16 billion yen. However, for the fiscal year ending May 2025, the profit is expected to decrease by 3.9% from the previous period to 6.88 billion yen.

At the same time, the company increased the distribution for the previous term from 6850 yen to 6920 yen (compared to 13700 yen before the 2-for-1 forward stock split in the previous term), and plans to set the distribution for the current term at 6920 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
Nov, 2023	13,646	6,747	6,151	6,192	6,473.5	6,850	Jan 22, 2024	J-GAAP
May, 2024	13,570	6,871	6,215	6,214	6,496.0	6,850	Jul 19, 2024	J-GAAP
Nov, 2024	15,215	7,973	7,164	7,163	7,545.0	6,920	Jan 22, 2025	J-GAAP
YoY	+12.1%	+16.0%	+15.3%	+15.3%	+16.1%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Nov, 2024 Guidance	15,146	7,945	7,150	7,149	7,553.6	6,850	Jul 19, 2024	J-GAAP
Nov, 2024 Results	15,215	7,973	7,164	7,163	7,545.0	6,920	Jan 22, 2025	J-GAAP
Revision Rate	+0.5%	+0.4%	+0.2%	+0.2%	-0.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May, 2024	13,570	6,871	6,215	6,214	6,496.0	6,850	Jul 19, 2024	J-GAAP
Nov, 2024	15,215	7,973	7,164	7,163	7,545.0	6,920	Jan 22, 2025	J-GAAP
May, 2025 Guidance	15,097	7,850	6,886	6,885	7,281.8	6,920	Jan 22, 2025	J-GAAP
YoY	-0.8%	-1.5%	-3.9%	-3.9%	-3.5%

Quarterly Results