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Nomura Real Estate, 1% Increase in Ordinary Profit, Update Record High for Fifth Consecutive Term, Dividend Effectively Increased

Thu Apr 24, 2025 3:30 pm JST Earnings

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

Earnings Report

Nomura Real Estate Holdings, Inc. <3231> [TSE Prime] announced its financial results after the market closed on April 24th (15:30). The consolidated ordinary profit for the fiscal year ending March 2025 increased 8.6% from the previous period to 106 billion yen. In the fiscal year ending March 2026, the profit is expected to grow by 1.2% to 108 billion yen, marking the fifth consecutive term of record-high profits. This will be the fifth consecutive term of revenue and profit growth.

At the same time, the annual dividend for this fiscal year is 36 yen, taking into account the forward stock split scheduled to be allocated on March 31, this dividend represents an actual increase of 5.9%.

In the most recent three-month period, from January to March (4Q), the consolidated ordinary profit dropped to 18.6 billion yen, a 34.8% decrease compared to the same period last year. The operating profit margin significantly dropped from 15.5% in the same period last year to 10.8%.

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Actual Results

Historical Performance
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 757,638 118,958 106,740 74,835 86.8 34 Apr 24, 2025 J-GAAP
YoY +3.1% +6.1% +8.6% +9.8% +10.6%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Guidance 760,000 114,000 102,000 72,000 83.8 34 Jan 30, 2025 J-GAAP
Mar, 2025 Results 757,638 118,958 106,740 74,835 86.8 34 Apr 24, 2025 J-GAAP
Revision Rate -0.3% +4.3% +4.6% +3.9% +3.5%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 381,343 68,363 59,652 42,514 49.2 16.50 Oct 25, 2024 J-GAAP
Apr - Sep, 2025 Guidance ー ー ー ー － 18 Apr 24, 2025 J-GAAP
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 734,715 112,114 98,248 68,164 78.5 28 Apr 25, 2024 J-GAAP
Mar, 2025 757,638 118,958 106,740 74,835 86.8 34 Apr 24, 2025 J-GAAP
Mar, 2026 Guidance 940,000 122,000 108,000 75,000 87.1 36 Apr 24, 2025 J-GAAP
YoY +24.1% +2.6% +1.2% +0.2% +0.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Oct - Dec, 2024 190,511 30,482 28,417 19,894 23.0 16.0 Jan 30, 2025 J-GAAP
Jan - Mar, 2025 185,784 20,113 18,671 12,427 14.4 10.8 Apr 24, 2025 J-GAAP
YoY -14.1% -40.0% -34.8% -50.2% -49.8%

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