Hulic : Financial Information of FY2022 (January~December)【SUMMARY】
January 30, 2023 at 08:14 am IST
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January 30, 2023
Company Name: Hulic Co., Ltd.
(3003JP TSE Prime)
President : Takaya MAEDA
Contact: itou.shin@hulic.co.jp
Financial Information of FY2022 (January~December) 【SUMMARY】
Ⅰ.FY2022 Performance Result Summary
(Billion of Japanese Yen)
FY2020
FY2021
FY2022
FY2023 Guidance
Operating Revenue
339.6
447.0
523.4
N.A.
Operating Income
100.5
114.5
126.1
140.0
Ordinary Income
95.6
109.5
123.2
132.0
Net Income
63.6
69.5
79.1
86.5
Annual Dividend per share
36.0yen
39.0yen
42.0yen
46.0 yen
<> PL Year :
Leasing(Fine), Transaction(Excellent), Hotel operation(Recovering) >
・Tokyo office average vacancy 6.4% vs Our Tokyo office vacancy was less than 1.0%. We think we can keep this level for sometime. ・Tokyo office average rent has been downed 29 month in a row. vs. Our Tokyo year-endoffice rent rose from one year ago.
・Transaction market stays strong, and CAP rates have been going lower for all sectors, even 10 year JGB yield shifted to the upside.
・Our year-end appraisal result showed that unrealized value of our asset (NAV minus Booked Value on B/S) increased to 375.8 billion JPY. ・Hotel subsidiaries' loss stopped in the 4th quarter, anticipating to move into the black PL in FY2023.
・EPS replaced the historical-high, overcoming a dilution effect of the Offering in October 2021.
・Annual dividend payout ratio exceeded 40%as we had promised before. We expect 46yen(+4 yen) per share for FY2023.
Ⅱ.Major KPIs
(Japanese Yen)
2020/12
2021/12
2022/12
NIKKEI Index
27,444
28,792
26,095
HULIC share price
1,133 yen
1,092 yen
1,040 yen
Market Capitalization
763.5 Billion
838.6 Billion
798.6 Billion
payout ratio
37.8%
38.5%
40.3%
EPS
95.23 yen
101.09 yen
104.00 yen
BPS
728.31 yen
836.89 yen
902.70 yen
unrealized value of leasing asset
353.0 Billion
364.6 Billion
375.8 Billion
Ⅲ.FY2023-2025 Medium Term Plan (Summary)
2022/12
2023/12(est)
2025/12(est)
Operating Income(JPY Billion)
126.1
140.0
165.0
Ordinary Income(JPY Billion)
123.2
132.0
150.0
Net Income(JPY Billion)
79.1
86.5
98.5
payout ratio
40.3%
40.4%
40% or over
Net D/E(debt/equity) ratio
1.3 times
below 3.0 times
Net Investment Amount (JPY billion)
193.8
up to 410
Total 900bil budget in FY2023-25
・【Quality buildings】 All leasing assets must clear the durability standard against the strongest earthquake possible by 2025. We will challenge effective acquisition through CRE(direct deal) and equity investment to utilize capital money efficiently.
・【Accelerating Development Projects and secure the Exit Pipelines】 100 development projects to be completed by 2029. Setting up different focus-FUNDSfor exiting the developed projectsand keeping sound B/S and better KPI.
・【Expanding current profit lines and challenging new businesses】 Nursing Homes, Hotels, Environment focus + Education, Bizflex, Datacenter, etc.
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Hulic Co. Ltd. published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2023 02:43:06 UTC.
Hulic Co Ltd is a Japan-based company mainly engaged in the real estate business and insurance business. It operates through two business segments. Real Estate segment has three kinds of business. The real estate leasing business manages approximately 250 rental properties (excluding real estate for sale) that are owned and managed mainly near stations in the 23 wards of Tokyo. Real estate development business is performed according to the characteristics of the property location. Asset management business is entrusted with asset management business. It also provides real estate rental, building management and cleaning business. The Insurance segment is engaged in non-life insurance agency business such as fire insurance and automobile insurance, life insurance such as fixed-term insurance and endowment insurance, and solicitation business. It is also engaged in the design, repair and construction work on owned buildings, hotel and inn management and agricultural production in Vietnam.