Mitsubishi Estate Co. (8802) Q4 2025 earnings summary

Executive summary

• FY2024 operating profit reached ¥309.2 billion, up ¥30.6 billion year-over-year, and profit attributable to owners was ¥189.3 billion, up ¥20.9 billion, both record highs.

• Operating revenue for FY2024 rose 5.0% year-over-year to ¥1,579.8 billion.

• Comprehensive income declined 27.2% year-over-year to ¥261.3 billion.

• FY2025 forecasts operating profit at ¥325 billion (+¥15.7 billion YoY) and profit attributable to owners at ¥195 billion (+¥5.6 billion YoY), both record highs.

• Announced ¥100 billion share buyback for FY2025; treasury shares to be canceled post-buyback.

Financial highlights

• FY2024 operating revenue: ¥1,579.8 billion (+¥75.1 billion YoY); operating profit: ¥309.2 billion (+¥30.6 billion YoY); profit attributable to owners: ¥189.3 billion (+¥20.9 billion YoY).

• EPS for FY2024 was ¥151.04, up from ¥131.96 in FY2023.

• ROE improved to 7.6% from 7.4% year-over-year.

• Cash flows from operating activities were ¥324.1 billion; cash and cash equivalents at period end of ¥256.9 billion.

• Dividend per share increased to ¥46.00 for FY2024, up from ¥43.00 in FY2023.

Outlook and guidance

• FY2025 operating revenue forecast: ¥1,850 billion (+17.1% YoY); operating profit: ¥325 billion (+5.1% YoY); profit attributable to owners: ¥195 billion (+3.0% YoY); EPS ¥160.16.

• ROE expected to improve to around 8%, progressing toward 10% target.

• Dividend forecast for FY2025: ¥46/share, with progressive increases planned.

• Share buybacks to continue flexibly, with ¥100 billion planned for FY2025.

• Share repurchase impact is reflected in FY2025 EPS guidance.