Resorttrust : Notice of Revisions of Financial Results and Dividend Forecasts
March 17, 2020 at 07:21 am
Share
March 17, 2020
FOR IMMEDIATE RELEASE
Company name
Resorttrust, Inc.
Representative
Ariyoshi Fushimi, President
Code
4681, First Section of the Tokyo and
Nagoya Stock Exchanges
Notice of Revisions of Financial Results and Dividend Forecasts
Resorttrust, Inc. has made the following revisions to its financial results and dividend forecasts announced on May 15, 2019, in light of the recent business performance and the outlook for business performance.
1. Revision of the financial results forecast
Revision of consolidated financial results forecast (April 1, 2019 to March 31, 2020)
(Millions of yen)
Operating
Ordinary
Net Income
Net Income
Net Sales
Attributable to
per Share
Income
Income
Owners of
(Yen)
Parent
Previous Forecast (A)
171,400
16,000
16,000
10,000
93.42
Current Forecast (B)
160,000
12,000
12,500
7,100
66.33
Difference (B-A)
(11,400)
(4,000)
(3,500)
(2,900)
Change (%)
(6.7)
(25.0)
(21.9)
(29.0)
Results for Previous Fiscal Year
179,542
18,877
19,528
12,358
115.53
(ended March 31, 2019)
• Reasons for revision of the financial result forecast
Regarding the forecast of consolidated financial results for the full year of the fiscal year ending March 31, 2020, revenue from hotel management has been below expectations owing to the impact of Typhoon Faxai (No.15) and Typhoon Hagibis (No.19), and intensifying competition in the general hotel market in Japan.
Although hotel occupancy is expected to be on a recovery track from the fourth quarter of FY2019, spread of COVID-19 is resulting in a decrease in the number of users not only owing to a decrease in inbound demand, but also because people residing in Japan are refraining from nonessential and nonurgent activities or travel in the country. Therefore, regarding the forecast for the full year, net sales and each income item are expected to fall short of the initial forecast. As for the said impacts, although occupancy and reservation statuses for the period up to February 2020 and other information available are reflected in the current forecast, the forecast may change depending on the development of the situation from now on. The forecast of net income attributable to owners of parent also reflects the impact of the recording of loss on impairment of certain non-current assets in addition to the above-mentioned factors.
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2. Revision of the dividend forecast
Dividends per Share (Yen)
End of 1st
End of 2nd
End of 3rd
Year-End
Annual
Quarter
Quarter
Quarter
Previous Forecast
─
─
─
23.00
46.00
(Announced on May 15, 2019)
Revised Forecast
─
─
─
17.00
40.00
Results for Fiscal Year Under
─
23.00
─
Review
Results for Previous Fiscal Year
─
23.00
─
23.00
46.00
(ended March 31, 2019)
• Reasons for revision of the dividend forecast
In light of the downward revision of the forecast of consolidated financial results as stated above, the forecast of the year-end dividend for the fiscal year ending March 31, 2020 has been revised to 17 yen per share. The annual dividend per share is scheduled to amount to 40 yen, including the interim dividend of 23 yen.
Note: The above forecasts were made based on certain assumptions judged to be reasonable by the Company. Actual results may differ significantly from the above forecasts due to various factors.
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Disclaimer
Resorttrust Inc. published this content on 17 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2020 07:20:05 UTC
Resorttrust Inc is a Japan-based company mainly involved in the construction and operation of membership hotels and golf courses, the sale of memberships, as well as medical businesses. The Company operates through three segments. The Membership segment is engaged in the development of membership hotels and the sale of various memberships. The Hotel Restaurant segment is mainly involved in the operation of restaurants and resort hotels under the names XIV, BAYCOURT CLUB, SUN MEMBERS and HOTEL TRUSTY, as well as the provision of hotel cleaning services, and on-life insurance agency services. The Medical segment is engaged in the sale and management of medical memberships, as well as the provision of medical consulting services. In addition, the Company is also engaged in real estate rental business and villa management business.