NIPPON PARKING DEVELOPMENT Co (2353) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended April 30, 2024, was ¥25,098 million, up 0.1% year-over-year, with operating profit at ¥5,378 million, up 0.7% year-over-year, and net income attributable to shareholders at ¥3,495 million, down 1.6% year-over-year.

• Parking and ski resort businesses achieved record sales and operating profits, while the theme park segment saw declines due to weather and lower visitor numbers.

• The company continued to invest in new facilities and services, especially in the ski and parking segments, and expanded its social and sustainability initiatives.

Financial highlights

• Operating profit rose to ¥5,378 million (up 0.7% year-over-year), and recurring profit reached ¥5,442 million (up 1.8% year-over-year).

• Net income attributable to shareholders was ¥3,495 million, a 1.6% decrease year-over-year.

• Comprehensive income increased to ¥4,571 million, up 9.8% year-over-year.

• Total assets grew to ¥40,157 million, up ¥11,150 million from the previous fiscal year-end.

• Equity ratio was 34.4%, down from 39.3% at the previous fiscal year-end.

Outlook and guidance

• Full-year revenue is forecast at ¥33,000 million (up 3.6% year-over-year), with operating profit of ¥7,000 million (up 12.9%) and net income of ¥4,800 million (up 8.9%).

• No changes to previously announced earnings guidance.

• Dividend forecast for the year is ¥5.50 per share.