SYLA Holdings Co., Ltd. First Quarter Financial Summary [Japanese GAAP] (Consolidated)

Business Performance Overview

Consolidated revenue for the first quarter was 9,302 million yen (up 8.4% year-over-year), with revenue growth led by the core comprehensive real estate business. However, quarterly net income attributable to owners of parent fell sharply to 255 million yen (down -95.5% year-over-year). One factor was special gains recorded in the prior first quarter, including negative goodwill gain of 7,904 million yen and loss on step acquisitions of 2,259 million yen. The full-year forecast is published as revenue of 38,000 million yen to 40,000 million yen, operating income of 3,700 million yen to 3,900 million yen, net income attributable to owners of parent of 2,375 million yen to 2,500 million yen, and earnings per share of 1,472 yen to 1,550 yen.

Outlook and Capital Structure

By segment, the comprehensive real estate business showed notable revenue growth, particularly driven by development and sales activities in central urban areas. The renewable energy business experienced a decline in revenue, although negative goodwill gains were recorded this term; management describes the impact on future consolidated results as limited. Financial position: total assets 73,968 million yen, equity ratio 24.2%, shareholders' equity 17,934 million yen (at quarter-end); attention should be paid to trends in cash and deposits and accounts receivable.