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Seibu Holdings Inc (9024) investor relations material
Seibu Holdings Inc Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operating revenue for the quarter ended June 30, 2026, was ¥154.5 billion, up 16.7% year-over-year, driven by the consolidation of e'grand Co., Ltd., property securitization, railway fare revisions, and increased hotel revenue.
Operating profit rose to ¥26.0 billion, up 41.5% year-over-year, with profit growth across all major segments despite higher personnel and depreciation expenses.
Profit attributable to owners of parent increased 24.4% year-over-year to ¥16.7 billion.
Both revenue and profit exceeded initial forecasts, mainly due to the e'grand consolidation, strong professional baseball attendance, and higher-than-expected transportation revenue.
Comprehensive income increased 14.9% year-over-year to ¥10,736 million.
Financial highlights
Operating revenue: ¥154.5 billion (+16.7% YoY); Operating profit: ¥26.0 billion (+41.5% YoY); EBITDA: ¥41.9 billion (+30.5% YoY); Net income attributable to owners: ¥16.7 billion (+24.4% YoY).
Ordinary profit for the quarter was ¥25,538 million, up 48.0% year-over-year.
Total assets: ¥1,742.1 billion; Net interest-bearing debt: ¥644.5 billion; Equity-to-asset ratio: 32.9%.
Segment revenue YoY: Real Estate +¥12.7B, Hotel & Leisure +¥4.8B, Urban Transportation & Regional +¥3.0B.
Basic earnings per share for the quarter were ¥65.90, compared to ¥51.35 in the prior year.
Outlook and guidance
Full-year consolidated earnings forecast for FY ending March 2027 remains unchanged: operating revenue ¥559.0B (+8.9% YoY), operating profit ¥53.0B (+16.3% YoY), EBITDA ¥118.0B.
Profit attributable to owners is forecast to decrease due to one-off gains in the prior year and higher tax expenses.
Basic earnings per share for the full year are forecast at ¥106.22; dividend forecast is ¥42.00 per share, unchanged from the previous year.
Revenue growth expected from railway fare revisions, hotel RevPAR increases, and property investments; profit growth to continue despite higher costs.
- Revenue and profit surged on inbound tourism, price hikes, and higher hotel and railway demand.9024
Q1 2025 - Net profit surged on extraordinary gains from NW Corporation, with strong hotel and leisure growth.9024
Q2 2025 - Net income more than doubled on NW consolidation and tourism, with strong hotel growth.9024
Q3 2025 - Record profit driven by real estate gains and tourism, with normalization expected ahead.9024
Q4 2025 - Revenue up 5.6% YoY, but profits fell on higher costs; Real Estate led growth, outlook cautious.9024
Q1 2026 - Revenue up 2.9% year-over-year, profit down 7.3%, full-year outlook maintained.9024
Q2 2026 - Revenue up, profit down on higher costs; outlook raised but full-year profit forecast sharply lower.9024
Q3 2026 - Revenue and profit fell sharply year-over-year, but FY2027 forecasts signal recovery.9024
Q4 2026
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