Token (1766) Q4 2024 earnings summary

Executive summary

• Revenue increased 7.6% year-over-year to ¥340.8 billion, with operating income up 33.9% and net income attributable to shareholders up 70.7%.

• Both construction and real estate leasing segments contributed to growth, with construction segment profits surging over 200%.

• Cash and equivalents at year-end rose to ¥119.3 billion, up ¥10.8 billion from the previous year.

Financial highlights

• Operating income: ¥13.0 billion (up 33.9% YoY); ordinary income: ¥13.4 billion (up 32.9% YoY).

• Net income attributable to shareholders: ¥8.94 billion (up 70.7% YoY).

• Comprehensive income: ¥9.68 billion (up 85.1% YoY).

• Dividend per share maintained at ¥250; payout ratio decreased to 37.6%.

Outlook and guidance

• FY2025 revenue forecast: ¥360.5 billion (+5.8% YoY); operating income: ¥14.2 billion (+8.7% YoY); net income: ¥9.7 billion (+8.5% YoY).

• Construction segment expected to benefit from increased orders and improved margins due to price revisions.

• Real estate leasing segment to see higher sales but slight profit decrease due to rising expenses.