Invincible Investment Corporation
Invincible Investment Corporation 2026 Fiscal Year June Interim Financial Results Presentation
For the six months ended June 2026, total revenue was 26,789 million yen, distribution per unit 1,930 yen, beating the prior year. KPI for ICN101 property improved across all metrics. Forecasts for December 2026 and June 2027 project higher revenue and profits, but factoring in the fading Expo effect and China-Japan relations, the December 2026 annual operating revenue is expected at 28,045 million yen and net income for the period at 14,988 million yen. DPU is expected to be 1,930 yen for the June period, 2,186 yen for December, and 1,949 yen for June 2027. Emphasis on earnings power through internal growth and strategic capex.
Key Figures
- 2026年6月期 営業収益26,789百万円（前年同期比6.7%増）
- 1口当たり分配金 1,930円（2026年6月期）
- DPU 2026年12月期予想 2,186円、2027年6月期予想 1,949円
AI要約
Overview of the results
This reporting period faced a decline in Osaka Expo-related demand and ongoing effects from Japan-China relations, but revenue increased thanks to properties acquired in August 2025 and favorable overseas hotel management fees. KPI for ICN101 property surpassed prior year in RevPAR and GOP, while banquet/food & beverage sales remained solid. Domestic residential NOI rose due to rent adjustments and improved occupancy. On the financial side, JCR ratings are trending toward AA-, and the use of green finance is expanding.
Outlook and strategy
The outlook for December 2026 forecasts per-unit dividends of 2,186 yen, with 1,949 yen expected for June 2027. Revenue improvement is anticipated for both domestic and international hotels, while accounting for the expiration of Expo effects and delayed recovery in the Chinese market. Internal growth is placed as the primary driver, with realizable gains, internal reserves, and strategic capex combined to target a DPU growth of over 3%. Initiatives to boost profitability, such as leveraging GoToPass and expanding self-service site bookings, will continue.
Revenue Trend
Operating Profit Trend
DPU Trend
Invincible Investment Corporation
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