ICHIGO HOTEL REIT INVESTMENT CORPORATION Make The World
More Sustainable
[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
March 17, 2022
January 2022 Fiscal Period Earnings
Ichigo Hotel REIT Investment Corporation ("Ichigo Hotel," Tokyo Stock Exchange, 3463) Representative: Osamu Miyashita, Executive Director
www.ichigo-hotel.co.jp/en
Ichigo Investment Advisors Co., Ltd. (Ichigo Hotel Asset Management Company) Representative: Hiroshi Iwai, President
Inquiries: Hidehito Iwasaka, Head of Ichigo Hotel
Telephone: +81-3-3502-4892
Submission of Financial Report (Yuka Shoken Hokokusho): April 27, 2022 (expected)
Dividend Payment: April 22, 2022 (expected)
Supplemental Material to Financial and Business Results: Yes (Corporate Presentation)
Financial and Business Results Briefing: Yes (for institutional investors and analysts)
1. Financial Results for the January 2022 Fiscal Period (August 1, 2021 to January 31, 2022)
(1) Earnings
(JPY million; period-on-period change)
Operating | Change | Operating | Change | Recurring | Change | Net | Change | |
Revenue | Profit | Profit | Income | |||||
January 2022 | 1,125 | +0.7% | 472 | +1.4% | 274 | +1.8% | 342 | +27.6% |
July 2021 | 1,117 | +8.0% | 465 | +13.7% | 269 | +28.0% | 268 | +28.1% |
Net Income per Share | Return on Equity | Recurring Profit to | Recurring Profit to | |||||
Total Assets | ||||||||
(JPY) | (6 months) | Operating Revenue | ||||||
(6 months) | ||||||||
January 2022 | 1,345 | 1.1% | 0.5% | 24.4% | ||||
July 2021 | 1,054 | 0.8% | 0.5% | 24.1% |
Note: Net Income per Share is based on the average number of outstanding shares during the period.
(2) Dividends
Dividend per | Total | |||||
Dividend per | Total | Share in | Dividends in | Dividend on | ||
Share | Dividends | Excess of | Excess of | Payout Ratio | Equity | |
(JPY) | (JPY million) | Earnings | Earnings | (DOE) | ||
(JPY) | (JPY million) | |||||
January 2022 | 1,345 | 342 | - | - | 100.0% | 1.1% |
July 2021 | 1,055 | 268 | - | - | 100.1% | 0.8% |
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(3) Assets and Equity
Total Assets | Net Assets | Shareholder Equity | Net Assets per Share | |
(JPY million) | (JPY million) | Ratio | (JPY) | |
January 2022 | 59,393 | 31,940 | 53.8% | 125,270 |
July 2021 | 58,929 | 31,866 | 54.1% | 124,979 |
(4) Cash Flows | ||||
(JPY million) | ||||
Cash Flows from | Cash Flows from | Cash Flows from | Cash and Cash | |
Equivalents at End of | ||||
Operations | Investments | Financing | ||
the Period | ||||
January 2022 | 809 | -229 | -268 | 6,191 |
July 2021 | 722 | -254 | -210 | 5,881 |
2. Earnings Forecasts for the July 2022 Fiscal Period (February 1, 2022 to July 31, 2022) and January 2023 Fiscal Period (August 1, 2022 to January 31, 2023)
(JPY million; period-on-period change)
Operating | Change | Operating | Change | Recurring | Change | Net | Change | |
Revenue | Profit | Profit | Income | |||||
July 2022 | 1,069 | -5.0% | 421 | -10.7% | 214 | -21.8% | 213 | -37.7% |
January 2023 | 1,093 | +2.3% | 451 | +7.0% | 219 | +2.4% | 218 | +2.4% |
(JPY) | ||
Dividend per Share | Dividend per Share in Excess of Earnings | |
July 2022 | 838 | - |
January 2023 | 858 | - |
Note: Forecast Net Income per Share is JPY 838 (-20.5%year-on-year) and JPY 858 (-36.2%year-on- year), respectively, for the July 2022 and January 2023 fiscal periods.
Given ongoing Covid uncertainty, these earnings forecasts are subject to change.
3. Other
- Changes in Accounting Policies, Changes in Accounting Estimates, and Retrospective Restatements
- Changes Accompanying Amendments to Accounting Standards: Yes
(ii) | Changes Not Listed in (i): | None |
(iii) | Changes in Accounting Estimates: | None |
(iv) | Retrospective Restatements: | None |
- Number of Shares Issued and Outstanding
The number of issued and outstanding shares (including treasury shares) was 254,974 as of both July 31, 2021 and January 31, 2022.
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Completion Status of Auditing Procedures
This document is not subject to the auditing requirements set forth in the Financial Instruments and Exchange Law of Japan. The auditing procedures in accordance with those requirements have thus not been completed as of the date of the publication of this document.
Appropriate Use of Forecasts and Other Matters of Special Note
The forecasts presented in this document are current figures based on certain preconditions. Accordingly, actual results may vary due to changes in circumstances, and these forecasts should not be construed as a guarantee of such results.
For details on the forecast preconditions, please refer to the "Preconditions for the July 2022 Earnings Forecast" on page 5 and "Preconditions for the January 2023 Earnings Forecast" on page 8.
This English version is a translation of the original Japanese document and is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
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Material Matters after Closing of the Fiscal Period
None
Earnings Forecasts
Earnings Forecast for the July 2022 Fiscal Period (February 1, 2022 to July 31, 2022)
For details on the preconditions for this forecast, please refer to page 5.
Operating Revenue | JPY 1,069 million |
Operating Profit | JPY 421 million |
Recurring Profit | JPY 214 million |
Net Income | JPY 213 million |
Dividend per Share | JPY 838 |
Dividend in Excess of Earnings | - |
Earnings Forecast for the January 2023 Fiscal Period (August 1, 2022 to January 31, 2023)
For details on the preconditions for this forecast, please refer to page 8.
Operating Revenue | JPY 1,093 million |
Operating Profit | JPY 451 million |
Recurring Profit | JPY 219 million |
Net Income | JPY 218 million |
Dividend per Share | JPY 858 |
Dividend in Excess of Earnings | - |
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Preconditions for the July 2022 Earnings Forecast | ||||
Preconditions | ||||
Period | ∙ February 1, 2022 to July 31, 2022 (181 days) | |||
Number of | ∙ 23 hotels | |||
∙ The Court Hotel Kurashiki had an operator change on December 15, 2021 and was | ||||
Hotels | ||||
rebranded and reopened as The OneFive Garden Kurashiki on February 1, 2022. | ||||
Within operating revenue, rental income is forecast based on current lease contracts, | ||||
taking into consideration such factors as hotel and market conditions.1 | ||||
Forecast Operating Performance2 | ||||
July 2022 Fiscal Period | ||||
Occupancy3 | 73.0% | |||
ADR4 | JPY 4,891 |
- The forecast rental income assumes operators and tenants will fully pay their contractual rents without delay or default.
- The 16 variable rent hotels are: Smile Hotel Kyoto Shijo, Hotel Wing International Nagoya, Nest Hotel Sapporo Ekimae, The OneFive Osaka Sakaisuji, Hotel Wing International Kobe Shin Nagata Ekimae, Nest Hotel Sapporo Odori, The OneFive Fukuoka Tenjin, Nest Hotel Osaka Shinsaibashi, Smile Hotel Tokyo Asagaya, Nest Hotel Matsuyama, The OneFive Okayama, Capsule Plus Yokohama, Court Hotel Kurashiki, Nest Hotel Kumamoto, Valie Hotel Hiroshima, and HOTEL EMIT SHIBUYA. However, data for Capsule Plus Yokohama is excluded from the above forecast because the operator did not give consent to disclose forecasts.
-
Occupancy is calculated with the following formula:
Occupancy = Total number of guest rooms occupied during the period / (total
Operating | 4 | number of guest rooms * number of days hotel was in operation during the period) | |||
ADR or Average Daily Rate is calculated with the following formula: | |||||
Revenue | |||||
ADR = Total sales from accommodation (excluding restaurant charges and other | |||||
service fees) / number of guest rooms occupied during the period | |||||
Details of the July 2022 Rental Income Forecast by Hotel | (JPY million) | ||||
Fixed Rent/ | |||||
Hotel Name | Minimum | Variable | Total | ||
Guaranteed | Rent | ||||
Rent | |||||
Smile Hotel Kyoto Shijo | 30 | - | 30 | ||
Nest Hotel Sapporo Ekimae | 31 | 11 | 42 | ||
The OneFive Osaka Sakaisuji | 1 | 1 | 2 | ||
Comfort Hotel Hamamatsu | 55 | - | 55 | ||
Nest Hotel Sapporo Odori | 27 | - | 27 | ||
The OneFive Fukuoka Tenjin | 34 | - | 34 | ||
Nest Hotel Osaka Shinsaibashi | 66 | - | 66 | ||
Comfort Hotel Central International Airport | 151 | - | 151 | ||
Smile Hotel Tokyo Asagaya | 61 | - | 61 | ||
Nest Hotel Matsuyama | 36 | 8 | 44 |
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Ichigo Hotel REIT Investment Corporation published this content on 17 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2022 06:30:08 UTC.
