Komori
Financial results presentation8804Tokyo Tatemono Co.,Ltd.Real Estate

Fiscal Year Ending December 2024 Third-Quarter Financial Results Presentation Materials

For the cumulative third quarter of the fiscal year ended December 2024, operating revenue and profit exceeded the previous-year period, mainly due to higher condominium sales and gross profit. The full-year forecast remains unchanged from the announcement of the second-quarter results.

Worth reading
69In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
185
¥100 million (year-on-year increase in operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationThird quarter of the fiscal year ended December 202410 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥3,598 100 million+51.1%
Operating profit¥616 100 million+43.0%
Ordinary income¥534 100 million+21.9%
Net income¥355 100 million+22.1%
Full-year earnings forecast
Operating revenue
¥4,650 100 million
Operating profit
¥775 100 million
Ordinary income
¥695 100 million
Income before taxes
¥725 100 million
Profit attributable to owners of the parent
¥485 100 million
Business profit
¥780 100 million
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Operating revenue77%
Operating profit80%
Equity-Method Investment Income and Loss39%
Business profit79%
Ordinary income77%
Extraordinary income33%
Extraordinary loss57%
Income before taxes74%
Profit attributable to owners of parent for the quarter73%
By segment
ビル営業収益63%
住宅営業収益93%
アセットサービス営業収益67%
Other operating revenue73%
ビル事業利益59%
住宅事業利益104%
アセットサービス事業利益69%
その他事業利益104%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating revenue分譲マンションの売上増加、投資家向け物件売却等
ビル営業収益
Building leasing
¥19 100 million
Real estate revenue
¥162 100 million
管理受託等
¥25 100 million
Dividends
¥-9 100 million
ビル事業利益
投資家向け物件売却
¥19 100 million
Ordinary income持分法投資利益の減少、不動産特定共同事業分配金・支払利息の増加等
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
建築費は上昇傾向、金利は上昇傾向。ただし具体的な前提数値はNot disclosed。
New initiatives
  • 世界貿易センタービルディング建替えプロジェクトで、アコーホテルズのラグジュアリーブランド『ラッフルズ』を誘致し、2028年に『ラッフルズ東京』を開業予定
  • 米コロラド州デンバー近郊で賃貸用集合住宅を共同開発
  • 複合型スポーツレジャー施設『livedoor URBAN SPORTS PARK』を全面開業
  • 八重洲・日本橋・京橋エリアでイノベーション・エコシステム形成を推進
Key KPIsA metric the company considers important as a management benchmark.
  • 保有オフィスビル棟数40 buildings
  • 保有オフィスビル平均賃料¥28,447 /tsubo
  • 保有オフィスビル稼働率97.3 %
  • 投資家向け物件総投資額¥6,550 100 million
    Year on year against the same period last year2023年末比+950億円
  • 分譲マンションのランドバンク8,800 units
  • 分譲マンション用地取得数1,200 units
  • Equity ratio25.6 %
    Year on year against the same period last year前期末比-0.5ポイント
  • Debt-to-equity ratio2.3 times
    Year on year against the same period last year前期末比+0.1倍
Segment results
Buildings
Operating revenue
¥1,117 100 million+21.4%
Business profit
¥249 100 million+0.4%
Housing
Operating revenue
¥1,967 100 million+123.3%
Business profit
¥374 100 million+116.2%
Asset services
Operating revenue
¥359 100 million-10.7%
Business profit
¥69 100 million-4.2%
Other
Operating revenue
¥154 100 million-13.5%
Business profit
¥20 100 million-60.0%
Medium-term management plan targets
Business profit
Target value¥750 100 million
Target fiscal yearFiscal year ended December 2024
Comparison with actual results2024年12月期通期予想780億円
Financial targets
ROE
Target value8～10%
ROA
Target value4%程度
Debt-to-equity ratio
Target value2.4倍程度
Actual value2.3 times
Annual Dividend
Annual¥80 per share
Interim37円/株
End of period43円/株
Payout ratio
34.4%（予定）
Acquisition of treasury shares
自己株式取得は事業環境や財務状況等を踏まえて実施の是非を検討。具体的な取得枠はNot disclosed。
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredThird quarter of the fiscal year ended December 2024
Net Sales¥3,598 100 million (YoY +51.1%)
Operating profit¥616 100 million (YoY +43.0%)
Ordinary income¥534 100 million (YoY +21.9%)
Net income¥355 100 million (YoY +22.1%)
Full-year earnings forecastOperating revenue ¥4,650 100 million / Operating profit ¥775 100 million / Ordinary income ¥695 100 million / Income before taxes ¥725 100 million / Profit attributable to owners of the parent ¥485 100 million / Business profit ¥780 100 million
Progress against full-year forecastOperating revenue 77% / Operating profit 80% / Equity-Method Investment Income and Loss 39% / Business profit 79% / Ordinary income 77% / Extraordinary income 33% / Extraordinary loss 57% / Income before taxes 74% / Profit attributable to owners of parent for the quarter 73% / By segment ビル営業収益 63% / 住宅営業収益 93% / アセットサービス営業収益 67% / Other operating revenue 73% / ビル事業利益 59% / 住宅事業利益 104% / アセットサービス事業利益 69% / その他事業利益 104%
Segment resultsBuildings Operating revenue ¥1,117 100 million (YoY +21.4%) / Business profit ¥249 100 million (YoY +0.4%) / Housing Operating revenue ¥1,967 100 million (YoY +123.3%) / Business profit ¥374 100 million (YoY +116.2%) / Asset services Operating revenue ¥359 100 million (YoY -10.7%) / Business profit ¥69 100 million (YoY -4.2%) / Other Operating revenue ¥154 100 million (YoY -13.5%) / Business profit ¥20 100 million (YoY -60.0%)
Breakdown of Factors Affecting the ChangeOperating revenue 分譲マンションの売上増加、投資家向け物件売却等 / ビル営業収益 Building leasing ¥19 100 million / Real estate revenue ¥162 100 million / 管理受託等 ¥25 100 million / Dividends ¥-9 100 million / ビル事業利益 投資家向け物件売却 ¥19 100 million / Ordinary income 持分法投資利益の減少、不動産特定共同事業分配金・支払利息の増加等
Key KPIsIndicator name 保有オフィスビル棟数 / Value 40 buildings / Year on year against the same period last year Not disclosed, Indicator name 保有オフィスビル平均賃料 / Value ¥28,447 /tsubo / Year on year against the same period last year Not disclosed, Indicator name 保有オフィスビル稼働率 / Value 97.3 % / Year on year against the same period last year Not disclosed, Indicator name 投資家向け物件総投資額 / Value ¥6,550 100 million / Year on year against the same period last year 2023年末比+950億円, Indicator name 分譲マンションのランドバンク / Value 8,800 units / Year on year against the same period last year Not disclosed, Indicator name 分譲マンション用地取得数 / Value 1,200 units / Year on year against the same period last year Not disclosed, Indicator name Equity ratio / Value 25.6 % / Year on year against the same period last year 前期末比-0.5ポイント, Indicator name Debt-to-equity ratio / Value 2.3 times / Year on year against the same period last year 前期末比+0.1倍
Assumptions Underlying the Business Outlook建築費は上昇傾向、金利は上昇傾向。ただし具体的な前提数値はNot disclosed。
Medium-term management plan targetsBusiness profit Target value ¥750 100 million / Target fiscal year Fiscal year ended December 2024 / Comparison with actual results 2024年12月期通期予想780億円
Financial targetsROE Target value 8～10% / Actual value Not disclosed / ROA Target value 4%程度 / Actual value Not disclosed / Debt-to-equity ratio Target value 2.4倍程度 / Actual value 2.3 times
Annual DividendAnnual ¥80 per share / Interim 37円/株 / End of period 43円/株
Payout ratio34.4%（予定）
Acquisition of treasury shares自己株式取得は事業環境や財務状況等を踏まえて実施の是非を検討。具体的な取得枠はNot disclosed。
New initiatives世界貿易センタービルディング建替えプロジェクトで、アコーホテルズのラグジュアリーブランド『ラッフルズ』を誘致し、2028年に『ラッフルズ東京』を開業予定, 米コロラド州デンバー近郊で賃貸用集合住宅を共同開発, 複合型スポーツレジャー施設『livedoor URBAN SPORTS PARK』を全面開業, 八重洲・日本橋・京橋エリアでイノベーション・エコシステム形成を推進
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

分譲マンションの売上・粗利益が増加したことなどにより増収増益となった。住宅事業では分譲マンションの増加、ビル事業では投資家向け物件売却による売上増加が寄与した一方、ビル賃貸の費用増加や持分法投資損益の減少などがあった。

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Fiscal Year Ending December 2024 Third-Quarter Financial Results Presentation Materials | Tokyo Tatemono Co.,Ltd. (8804) timely disclosure | Komori