■Performance Trends
2. Financial Status and Management Indicators
The total asset balance of Real Gate ＜5532＞ at the end of the second quarter of the 2024/9 fiscal year ended was 12,433 million yen, an increase of 1,026 million yen from the end of the previous fiscal year. 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 were 7,550 million yen, an increase of 151 million yen, mainly due to an increase in buildings (tangible fixed assets) due to investments related to ML properties opened during the period.
Total liabilities increased 547 million yen from the end of the previous fiscal year to 9,673 million yen. Among them, current liabilities decreased by 1,698 million yen, and fixed liabilities increased by 2,245 million yen. The main reason is that short-term loans decreased and long-term loans increased due to refinancing (change of conditions) of loans for real estate acquisition.
In terms of management indicators, there are no concerns about safety, such as the current ratio (185.7%, 120% to 150% is a guideline for safety) and a fixed long-term compliance rate (77.0%, 100% or less is a guideline for safety). The capital adequacy ratio is maintained at an appropriate ratio of 22.1%, and leverage is applied. We have transitioned to a business model where properties are acquired due to listing, but we have been able to maintain a sound financial base.
(Written by FISCO Visiting Analyst Hideo Kakuta)