Financial Results for Fiscal Year ended March 31, 2023 and
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Forecasted Financial Results for Fiscal Year ending March 31, 2024
Progress Review of Medium-term Management Plan
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"Challenge & Progress" (FY2020 to FY2023)
Reference
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Executive Summary
3
Executive Summary
Consolidated financial results for fiscal year ended March 31, 2023
Progress of the
Redevelopment Business
Review of the portfolio and
external growth
Forecasted consolidated financial results for fiscal year ending March 31, 2024
Operating income and ordinary income decreased year-on-year mainly due to a reactionary decline from the recording of cancellation penalties. On the other hand, net income attributable to the parent increased due to the recording of gains from the sale of marketable securities resulting from a reduction of cross-shareholdings, achieving a record high for six consecutive years.
The annual dividend per share was 104 yen, an increase of 9 yen year-on-year, achieving six consecutive years of dividend increases.
For the Odori-nishi 4 South, Type-1 district redevelopment project in Sapporo, the decision on the urban plan was announced in December 2022, targeting completion of construction in 2028.
For the Kabutocho 12 project (tentative name) for Caption by Hyatt Kabutocho Tokyo, construction was started in April 2023, targeting the opening in 2025.
We realized gains from the sale of properties: HF Kawaguchi Residence, HF Higashiogu Residence, Iwamotocho Office (two properties), Nagoya Sakae Office, and part of our ownership in Yokohama Office.
We have acquired properties worth approx. 66 billion yen over the three-year period (approx. 68 billion yen including expected construction completions) against the approx. 60 billion-yen investment plan for the four-year period in the Medium-term Management Plan (FY2020-FY2023), achieving the investment plan one year ahead of schedule.
Operating income and ordinary income will increase mainly due to an increase in gains from the sale of properties, expecting to achieve the operating income target of "at least 12 billion yen" in the Medium-term Management Plan.
Net income attributable to the parent will decrease mainly due to a decrease in gains from the sale of marketable securities. The annual dividend amount per share is expected to be 116 yen, an increase of 12 yen year-on-year, in line with the target consolidated dividend payout ratio of approx. 50% in the Medium- term Management Plan, expecting to achieve seven consecutive years of dividend increases.
FY ended
FY ended
Forecast for
(Millions of yen)
Year-on-year
Year-on-year (%)
FY ending
Year-on-year
March 31, 2022
March 31, 2023
March 31, 2024 (*1)
Operating revenue
57,818
44,522
(13,295)
(23.0)
44,100
(422)
Operating income
12,615
10,784
(1,830)
(14.5)
12,300
+1,515
Ordinary income
11,572
9,647
(1,925)
(16.6)
10,700
+1,052
Net income attributable to the parent
8,705
9,137
+432
+5.0
8,200
(937)
EPS (net earnings per share) (Yen)
236.74
254.27
+17.53
+7.4
229.14
(25.13)
Annual dividend per share (Yen)
95
104
+9
+9.5
116
+12
4
*1 Figures announced on April 28, 2023.
Financial Results for Fiscal Year ended March 31, 2023 and Forecasted Financial Results for Fiscal Year ending March 31, 2024
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Heiwa Real Estate Co. Ltd. published this content on 22 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2023 10:40:22 UTC.
HEIWA REAL ESTATE CO.,LTD. is a Japan-based company mainly engaged in leasing business and real estate solution business. The Company operates in two business segments. The Leasing segment specializes in the development, leasing, management and operation of stock exchanges, offices, commercial facilities and housing. The Real Estate Solution segment is engaged in the development, sales, operation and management of real estates for revenue, development and sales of residential houses as well as real estate agency business. The Others businesses include the maintenance and repair of building equipment, contract work for repair, insurance agency business, etc.
HEIWA REAL ESTATE CO., LTD. 
