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Nomura Real Estate Holdings, Inc., First Half Ordinary Profit Increases by 9%, July-September Ordinary Profit Increases by 35%

Fri Oct 25, 2024 3:00 pm JST Earnings

3231 Nomura Real Estate Holdings, Inc. 【J-GAAP】

Earnings Report

Nomura Real Estate Holdings, Inc. <3231> [TSE-P] announced its financial results after the market closed on October 25th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 9.2% from the same period last year, reaching 59.6 billion yen. The progress rate against the 100 billion yen full-year plan was 59.7%, also surpassing the five-year average of 40.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease by 7.5% from the same period last year to 40.3 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 35.5% from the same period last year, reaching 25.9 billion yen. The operating profit margin rose from 14.4% in the same period last year to 16.7%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 314,756 48,884 47,046 33,874 38.1 50.0 Oct 27, 2022 J-GAAP
Apr - Sep, 2023 368,318 61,372 54,615 32,956 37.9 55.6 Oct 26, 2023 J-GAAP
Apr - Sep, 2024 381,343 68,363 59,652 42,514 49.2 59.7 Oct 25, 2024 J-GAAP
YoY +3.5% +11.4% +9.2% +29.0% +29.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 16.50 Apr 25, 2024 J-GAAP
Apr - Sep, 2024 Results 381,343 68,363 59,652 42,514 49.2 16.50 Oct 25, 2024 J-GAAP
Revision Rate － － － － －

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 366,397 50,742 43,633 35,208 40.5 15 Apr 25, 2024 J-GAAP
Oct - Mar, 2024 Guidance 408,657 45,637 40,348 27,486 32.0 16.50 Oct 25, 2024 J-GAAP
YoY +11.5% -10.1% -7.5% -21.9% -21.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 654,735 99,598 94,121 64,520 73.1 24 Apr 26, 2023 J-GAAP
Mar, 2024 734,715 112,114 98,248 68,164 78.5 28 Apr 25, 2024 J-GAAP
Mar, 2025 Guidance 790,000 114,000 100,000 70,000 81.5 33 Apr 25, 2024 J-GAAP
YoY +7.5% +1.7% +1.8% +2.7% +3.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 158,952 22,887 19,144 8,638 9.9 14.4 Oct 26, 2023 J-GAAP
Oct - Dec, 2023 150,027 17,247 15,011 10,269 11.8 11.5 Jan 31, 2024 J-GAAP
Jan - Mar, 2024 216,370 33,495 28,622 24,939 28.7 15.5 Apr 25, 2024 J-GAAP
Apr - Jun, 2024 200,915 38,197 33,721 24,418 28.3 19.0 Jul 25, 2024 J-GAAP
Jul - Sep, 2024 180,428 30,166 25,931 18,096 20.9 16.7 Oct 25, 2024 J-GAAP
YoY +13.5% +31.8% +35.5% +109.5% +110.9%

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