Daito Trust: Raises FY2027 profit forecast, year-end payout to ¥84

Daito Trust raised its full-year consolidated forecast for every item from sales to net profit for the fiscal year ending March 2027. Net income, operating profit and ordinary profit are all expected to exceed the previous year's results.

• Increases from previous forecast: Sales were raised by ¥30 billion, operating and ordinary profit by ¥8 billion each, and net income by ¥1 billion. The revision rates given in the disclosure are 1.5%, 5.6%, 5.7% and 0.9%, respectively.
• Reason for revision: Occupancy in the real estate rental business has remained firm.

Sales are forecast to exceed the previous year's ¥1.984743 trillion, while operating profit is expected to top ¥135.256 billion and ordinary profit ¥139.169 billion. Earnings per share are projected at ¥329, compared with ¥299.01 in the previous year. The previous-year EPS figure assumes that the five-for-one stock split effective Oct. 1, 2025, had taken place at the start of that fiscal year.

While raising its consolidated outlook, Daito Trust cut its standalone sales forecast by ¥20 billion. Its forecasts for standalone ordinary profit and net income were unchanged.

• Reason for revision: First-half construction orders were below Daito Trust's plan, and completed construction revenue is expected to decline this fiscal year.
• Sales revision rate: Down 3.5% from the previous forecast.

Standalone sales are also forecast to fall below the previous year's ¥577.799 billion, with construction orders weighing on performance. In contrast, Daito Trust raised its consolidated profit outlook on the back of rental occupancy, highlighting divergent trends across its businesses.

Daito Trust raised its year-end dividend forecast for the fiscal year ending March 2027 to ¥84 per share from ¥82, and revised its full-year forecast to ¥165 from ¥163. The annual payout is above the previous year's ¥150.40.

• Reason for increase: Daito Trust expects net income to exceed its previous forecast, prompting a ¥2 increase in the year-end dividend.
• Dividend policy: The company prioritizes stable dividends and targets a 50% payout ratio, including returns linked to consolidated earnings.

The dividend revision reflects the improved earnings outlook. Daito Trust says it aims to maintain stable payouts while returning profits in line with consolidated results. Whether earnings meet the revised forecast will be a key factor in assessing the sustainability of its dividend level.