Keihanshin Building, The Current Fiscal Year Ordinary Profit Revised Downward to an Unexpected 1% Decrease, Dividend Revised Upward by 3 yen

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Fri Jan 31, 2025 3:30 pm JST Earnings

8818 Keihanshin Building Co., Ltd. 【J-GAAP】

Earnings Report

Keihanshin Building Co., Ltd. <8818> [TSE Prime] announced its financial results after the market closed on January 31st (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) was 4.05 billion yen, a 0.9% increase compared to the same period last year.

However, the full-year consolidated ordinary profit has decreased 12.7%, from the previous forecast of 5.5 billion yen to 4.8 billion yen (compared to 4.84 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 0.9% decrease in profit. However, the full-year consolidated net income has been revised upward 13.2%, from the previous forecast of 3.8 billion yen to 4.3 billion yen (compared to 3.79 billion yen in the previous period), increasing the growth rate from 0.2% to 13.4%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 25.4%, from the previous forecast of 2.75 billion yen to 2.05 billion yen (compared to 2.12 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 3.5% decrease in profit.

At the same time, the company has increased its planned annual dividend for the current fiscal year from the original plan of 37 yen to 40 yen (compared to 37 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit amounted to 1.3 billion yen, an increase of 0.2% compared to the same period last year. However, the operating profit margin decreased from 28.2% in the same period last year to 25.3%.

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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
Apr - Dec, 2022	14,073	4,347	4,245	3,630	73.2	84.2	Jan 27, 2023	J-GAAP
Apr - Dec, 2023	14,655	4,185	4,016	3,242	66.2	82.9	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	14,674	4,018	4,052	3,833	78.4	84.4	Jan 31, 2025	J-GAAP
YoY	+0.1%	-4.0%	+0.9%	+18.2%	+18.4%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	9,999	2,838	2,751	1,897	39.1	18.50	Oct 30, 2024	J-GAAP
Oct - Mar, 2024 New	9,999	2,138	2,051	2,397	49.4	21.50	Jan 31, 2025	J-GAAP
Revision Rate	0.0%	-24.7%	-25.4%	+26.4%	+26.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	19,700	5,600	5,500	3,800	78.2	37	May 14, 2024	J-GAAP
Mar, 2025 New	19,700	4,900	4,800	4,300	88.5	40	Jan 31, 2025	J-GAAP
Revision Rate	0.0%	-12.5%	-12.7%	+13.2%	+13.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	9,449	2,248	2,126	1,455	29.7	19	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	9,999	2,138	2,051	2,397	49.4	21.50	Jan 31, 2025	J-GAAP
YoY	+5.8%	-4.9%	-3.5%	+64.7%	+66.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	18,879	5,375	5,040	4,186	84.7	36	May 12, 2023	J-GAAP
Mar, 2024	19,310	5,083	4,842	3,793	77.5	37	May 14, 2024	J-GAAP
Mar, 2025 Guidance	19,700	4,900	4,800	4,300	88.5	40	Jan 31, 2025	J-GAAP
YoY	+2.0%	-3.6%	-0.9%	+13.4%	+14.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	4,794	1,350	1,300	904	18.5	28.2	Jan 31, 2024	J-GAAP
Jan - Mar, 2024	4,655	898	826	551	11.3	19.3	May 14, 2024	J-GAAP
Apr - Jun, 2024	4,769	1,425	1,525	1,060	21.7	29.9	Jul 30, 2024	J-GAAP
Jul - Sep, 2024	4,932	1,337	1,224	843	17.2	27.1	Oct 30, 2024	J-GAAP
Oct - Dec, 2024	4,973	1,256	1,303	1,930	39.5	25.3	Jan 31, 2025	J-GAAP
YoY	+3.7%	-7.0%	+0.2%	+113.5%	+113.9%