Ichigo Office REIT, 16% Decrease in Ordinary Profit for The Current Fiscal Year

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Mon Dec 15, 2025 3:30 pm JST Earnings

8975 Ichigo Office REIT Investment Corporation

Earnings Report

Ichigo Office REIT Investment Corporation <8975> [TSE REIT] announced its financial results after the market closed on December 15th (15:30). The ordinary profit for the fiscal year ended October 2025 decreased by 19.4% from the previous period to 4.17 billion yen. For the fiscal year ending April 2026, the ordinary profit is expected to decrease by 16.3% from the previous period to 3.49 billion yen.

At the same time, the company increased the distribution for the previous term from 2661 yen to 2715 yen (compared to 3330 yen in the prior term), and plans to set the distribution for the current term at 2274 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
Oct, 2024	9,223	4,991	4,082	4,081	2,635.0	2,692	Dec 16, 2024	J-GAAP
Apr, 2025	10,235	6,094	5,174	5,173	3,327.0	3,330	Jun 16, 2025	J-GAAP
Oct, 2025	9,271	5,070	4,172	4,171	2,700.0	2,715	Dec 15, 2025	J-GAAP
YoY	-9.4%	-16.8%	-19.4%	-19.4%	-18.8%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2025 Guidance	9,230	5,024	4,089	4,088	2,658.1	2,661	Oct 27, 2025	J-GAAP
Oct, 2025 Results	9,271	5,070	4,172	4,171	2,700.0	2,715	Dec 15, 2025	J-GAAP
Revision Rate	+0.4%	+0.9%	+2.0%	+2.0%	+1.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr, 2025	10,235	6,094	5,174	5,173	3,327.0	3,330	Jun 16, 2025	J-GAAP
Oct, 2025	9,271	5,070	4,172	4,171	2,700.0	2,715	Dec 15, 2025	J-GAAP
Apr, 2026 Guidance	8,665	4,467	3,494	3,493	2,271.2	2,274	Dec 15, 2025	J-GAAP
YoY	-6.5%	-11.9%	-16.3%	-16.3%	-15.9%

Quarterly Results