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Realgate - Acquired fixed assets in Shibuya Ward, completed settlement.
Realgate <5532> announced that the settlement of fixed assets disclosed in the "Announcement of Acquisition of Fixed Assets (2 Properties)" dated December 20, 2023 and the "Announcement Regarding Borrowing of Funds Related to the Acquisition of Fixed Assets" dated June 25 has been completed. The company has acquired two adjacent buildings in Hachi-yama-cho, Shibuya-ku, and plans to renovate them into a complex facility consisting of stores, offices, and residences. It will be a two-building integrated project from planning to operational management.
Realgate - (Progress of Disclosure Matters) Borrowing funds for the acquisition of real estate for sale.
On the 25th, Realgate <5532> announced the details of the loan for the acquisition of investment real estate in the "announcement regarding the acquisition of investment real estate for sale" dated April 25, 2024. The total amount of the loan from Sumitomo Mitsui Bank is 724 million yen, the borrowing conditions are based on the base interest rate+spread (floating interest), the borrowing execution date is September 27, 2024, the borrowing period is 2 years, and the collateral is land and buildings. There is no change to the financial estimates for the entire 2024 fiscal year due to this matter.
Real Gate Research Memo (9): For the time being, capital gains can be expected against the backdrop of high profit growth
■Shareholder Return Policy Real Gate <5532> does not plan to pay dividends for the fiscal year ending 2024/9 in order to prioritize investment for growth. Funds obtained through listing will be used to secure properties in the short term. The company has developed small offices, shared offices, etc. in Shibuya Ward and Minato Ward all at once, and is a unique presence. Evaluations from customers are high, and performance continues to rise steadily, so capital gains are the main purpose of the immediate investment stance
Real Gate Research Memo (8): In the mid-term, we aim for sales of 10 billion yen and operating profit of 860 million yen for the fiscal year ending 2026/9
■Medium- to Long-Term Growth Strategy 1. The numerical target for the medium- to long-term plan Real Gate <5532> is promoting a three-year medium-term management plan with the 2024/9 fiscal year as the first year and the 2026/9 fiscal year as the final year. We planned a growth pace of around 15% per annum in terms of sales and operating income based on the results for the fiscal year ending 2023/9. Operating properties and operating area will be increased, and while maintaining a sales structure centered on stock type, acquisition of flow-type income will also be added. The second quarter of the fiscal year ending 2024/9 has come to an end
Real Gate Research Memo (6): Successful business model transition to acquire properties while maintaining a sound financial base
■Performance Trends 2. Financial Status and Management Index The total asset balance of Realgate <5532> at the end of the second quarter of the fiscal year ending 2024/9 increased 1,026 million yen from the end of the previous fiscal year to 12,433 million yen. Current assets were 4,882 million yen, up 875 million yen from the same period, and the main reason was that real estate for sale increased by 1,351 million yen due to the acquisition of 2 properties. Fixed assets are 7,550 million yen, up 151 million yen from the same period, and buildings (tangible fixed) are mainly due to investments related to ML properties that opened during the period
Real Gate Research Memo (5): In addition to strong stock income, flow income from property sales etc. contributed to business results
■Earnings Trends 1. Earnings Overview for the 2nd Quarter of the Fiscal Year Ending 2024/9 Real Gate <5532> had a significant increase in sales and profit of 5,013 million yen, up 28.8% from the same period last year, operating income increased 70.0% to 702 million yen, ordinary profit up 64.5% to 647 million yen, and quarterly net profit increased 78.0% to 444 million yen. As for sales, there was a steady increase in both stock type and flow type. Stock sales were 7 compared to the same period last year.
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