京阪神ビルディング is expected to record a gain on the sale of a property in Kyoto as extraordinary income, prompting an upward revision of its full-year net profit forecast to ¥7 billion. The ordinary profit forecast is expected to be revised downward, while a progressive dividend policy was formally announced.
For the first quarter of the fiscal year ending March 2027, consolidated revenue rose 1.7% year on year to ¥5,099 million, operating profit increased 10.2% to ¥1,629 million, ordinary profit rose 12.6% to ¥1,739 million, and quarterly net profit increased 12.5% to ¥1,207 million. All profit levels increased. Data center buildings accounted for the largest share of revenue, generating ¥2,815 million, or 55.2% of the total. The vacancy rate remained at a low 0.02%, indicating continued high occupancy.
Following the signing on 30 July of an agreement to sell the Shijo Kawaramachi Building in Nakagyo-ku, Kyoto, to a domestic operating company, the company expects to record approximately ¥5.9 billion as a gain on the sale of fixed assets under extraordinary income. Accordingly, the full-year revenue forecast remains unchanged at ¥20.5 billion, as does the operating profit forecast at ¥5.5 billion, while the ordinary profit forecast has been revised from the previous ¥4.9 billion to ¥4.5 billion and the net profit forecast from ¥4.9 billion to ¥7 billion. The upward revision to net profit is largely attributable to the gain on the sale of the Kyoto property.
The dividend policy calls for progressive dividend increases beginning in the fiscal year ending March 2027. On a post-split basis, the annual dividend for that fiscal year will be ¥15 per share for the interim dividend and ¥15 per share for the year-end dividend, for a total of ¥30. On a pre-split basis, this is equivalent to ¥20, meaning that the ¥30 forecast for the current fiscal year is expected to represent an approximately 50% increase. The assumed payout ratio is 40.9%, based on earnings including the gain on the sale of the Kyoto property. The effective payout level will therefore be higher when measured against profit from the core business alone.
For shareholder benefits, the company has announced a newly established program for shareholders holding 600 shares or more, with 30 September as the record date. Benefits can be exchanged for more than 5,000 products, including the conversion of points and common coins into WillisCoin. The specific timetable, including the last day to purchase shares with benefit entitlement, will be based on registration in the shareholder registry at the end of September.