(Translated from the Japanese original)
CRE, Inc. | Code: 3458 |
Consolidated Results for First Quarter of Fiscal Year ending July 31, 2022 (August 1, 2021 to July 31, 2022)
December 13, 2021
P h o t o : L o g i S q u a r e O s a k a K a t a n o
Contents
Fiscal 2022 First Quarter Highlights | P.2 | |
Consolidated Summary of Fiscal 2022 First Quarter | P.3 | |
Status of Business Profit and Segment Income Compared with Targets set at Beginning | of Year | P.4 |
Stock Business | P.5 | |
Flow Business | P.7 | |
Capital Increase | P.10 | |
New Business | P.11 | |
Measures to Support Sustainable Society | P.12 | |
Revised Full-Year Targets for Fiscal 2022 | P.13 | |
Appendix | P.14 |
Copyright (C) 2021 CRE, Inc. All rights reserved. | 1 |
Fiscal 2022 First Quarter Highlights
Performance Highlights
- Taking favorable quarterly performance into consideration, full-year performance forecast upwardly revised
- Firmly maintaining ROE initially projected at beginning of term even after capital increase
Operating profit | ¥8,600 million | → | ¥8,800 million | (+¥200 million +2.3%) | |
Business profit | ¥9,000 million | → | ¥9,700 million | (+¥700 million | +7.8%) |
Net income | ¥5,000 million | → | ¥5,600 million | (+¥600 million | +12.0% ) |
Net sales | ¥30,743 million | (YOY +276.5%/Rate of progress*2 | 49.9%) | ||
Business profit*1 | ¥6,447 million | (YOY +631.6%/Rate of progress 71.6%) |
*1: Business profit = Operating profit + Equity in earnings of affiliates + Goodwill amortization (consolidated subsidiaries/equity method affiliates)+ Profit (loss) from business investments
*2: Progress ratio compared to the initial targets at the beginning of term
Business Highlights
- Achieved record-high net sales and income on a quarterly basis.
- Achieved higher sales in all segments, reflecting favorable business environment.
- To accelerate growth, procured about ¥4 billion through public offering and third-party allocation of shares.
- Logistics investment business: Sold LogiSquare Osaka Katano to CRE Logistics REIT.
- Asset management business: CRE Logistics REIT executed fifth public offering, with assets under management hitting ¥130 billion.
Copyright (C) 2021 CRE, Inc. All rights reserved. | 2 |
Consolidated Summary of Fiscal 2022 First Quarter
- Higher year-on-year sales for all segments. In addition, extraordinary income of ¥565 million, paralleling development, pushed sales to all-time high on quarterly basis.
- SG&A expenses up due to business expansion as well as change in provision for bonuses at fiscal year-end to
in-term allocation matched to business progress, effective from the first quarter of fiscal 2022.
Fiscal 2021 | Fiscal 2022 | Fiscal 2022 | |
First Quarter | First Quarter | ||
Initial Plan | |||
Actual | Actual | ||
Net sales | 8,165 | 30,743 | 61,600 |
Gross profit | 1,646 | 7,121 | - |
Selling, general | - | ||
and administrative | 949 | 1,333 | |
expenses | |||
Amortization of | 59 | 64 | - |
goodwill | |||
Operating profit | 696 | 5,787 | 8,600 |
Business profit*1 | 881 | 6,447 | 9,000 |
Recurring profit | 684 | 5,551 | 7,600 |
Net income | 589 | 4,151 | 5,000 |
Earnings per share | ¥21.57 | ¥150.38 | ¥182.05 |
(Yen) | |||
Fiscal 2021 | Fiscal 2022 | Fiscal 2022 | |
First Quarter | First Quarter | ||
Initial Plan | |||
Actual | Actual | ||
Net sales | 8,165 | 30,743 | 61,600 |
Real estate | 7,147 | 7,944 | 28,850 |
management business | |||
Logistics investment | 768 | 22,439 | 31,650 |
business | |||
Asset management | 247 | 357 | 1,100 |
business | |||
Other operations | 1 | 2 | ― |
Segment income | 696 | 5,787 | 8,600 |
Real estate | 708 | 949 | 1,940 |
management business | |||
Logistics investment | 130 | 4,997 | 7,650 |
business | |||
Asset management | 141 | 261 | 610 |
business | |||
Other operations | 0 | 0 | ― |
Adjustment | (283) | (421) | (1,600) |
Note: Sales for each reporting segment represent sales to external customers.
*1: Business profit = Operating profit + Equity in earnings of affiliates + Goodwill amortization (consolidated subsidiaries/equity method affiliates)+ Profit (loss) from business investments
Copyright (C) 2021 CRE, Inc. All rights reserved. | 3 |
Status of Business Profit and Segment Income Compared with Targets Set at Beginning of Year
- Amid favorable business environment, business continues to progress in positive direction, leading to business profit of ¥6.4 billion and rate of progress toward target at 72%.
Consolidated
Results as of 1st quarter | Remainder | |
First quarter results
¥6,447 million
Business profit* | 7 2 % | 2 8 % |
Full year target
¥9,000 million
0% | 25% | 50% | 75% | 100% |
*1: Business profit = Operating profit + Equity in earnings of affiliates + Goodwill amortization (consolidated subsidiaries/equity method affiliates)+ Profit (loss) from business investments
*2: Progress ratio compared to the initial targets at the beginning of the fiscal year
Segment income
Real estate management business
Logistics investment business
Asset management business
0%
¥949 million
4 9 % | 5 1 % | |||
¥1,940 million | ||||
¥4,997 million+ | Extraordinary | |||
6 5 % | 3 5 % | income | ||
¥565 million | ||||
¥7,650 million
¥261 million
4 3 % | 5 7 % | |||
¥610 million | ||||
25% | 50% | 75% | 100% |
Copyright (C) 2021 CRE, Inc. All rights reserved. | 4 |
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CRE Inc. published this content on 13 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2021 06:55:12 UTC.