Daiwa House REIT, 11% Increase in Ordinary Profit, Update Record High for Second Consecutive Term

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Wed Apr 16, 2025 3:30 pm JST Earnings

8984 Daiwa House REIT Investment

Earnings Report

Daiwa House REIT Investment <8984> [TSE REIT] announced its financial results after the market closed on April 16th (15:30). The ordinary profit for the fiscal year ending February 2025 expanded 30.9% from the previous period to 13.1 billion yen. In the fiscal year ending August 2025, the profit is expected to grow by 10.6% to 14.5 billion yen, marking the second consecutive term of record-high profits.

At the same time, the company increased the distribution for the previous term from 7000 yen to 7078 yen (compared to 5804 yen in the prior term), and plans to set the distribution for the current term at 6200 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
Feb, 2024	29,643	12,138	10,378	10,378	4,473.0	5,711	Apr 16, 2024	J-GAAP
Aug, 2024	32,253	11,923	10,056	10,055	4,346.0	5,804	Oct 17, 2024	J-GAAP
Feb, 2025	32,412	15,022	13,166	13,165	5,725.0	7,078	Apr 16, 2025	J-GAAP
YoY	+0.5%	+26.0%	+30.9%	+30.9%	+31.7%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Guidance	32,463	14,864	12,982	12,981	5,655.6	7,000	Jan 28, 2025	J-GAAP
Feb, 2025 Results	32,412	15,022	13,166	13,165	5,725.0	7,078	Apr 16, 2025	J-GAAP
Revision Rate	-0.2%	+1.1%	+1.4%	+1.4%	+1.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2024	32,253	11,923	10,056	10,055	4,346.0	5,804	Oct 17, 2024	J-GAAP
Feb, 2025	32,412	15,022	13,166	13,165	5,725.0	7,078	Apr 16, 2025	J-GAAP
Aug, 2025 Guidance	33,575	16,534	14,562	14,561	6,344.0	6,200	Apr 16, 2025	J-GAAP
YoY	+3.6%	+10.1%	+10.6%	+10.6%	+10.8%

Quarterly Results