Storage King <2997> announced its consolidated financial results for the second quarter of the fiscal year ending January 2025 (February to July 24). Sales revenue increased by 26.9% compared to the same period of the previous year to 0.56 billion yen, operating loss was 0.108 billion yen (loss of 0.11 billion yen in the same period of the previous year), ordinary loss was 0.105 billion yen (loss of 0.107 billion yen in the same period of the previous year), and net loss in the interim period was 0.114 billion yen (loss of 0.102 billion yen in the same period of the previous year).

The sales revenue from the trunk room operation management business increased by 19.1% compared to the same period of the previous year to 0.428 billion yen, and the segment loss was 0.014 billion yen (loss of 0.044 billion yen in the same period of the previous year). Profit is made by renting out trunk rooms to users and managing them. The trunk room usage fee and property management income received from users are sales, and the cost of owning or leasing trunk rooms and the necessary operating costs are the cost of goods sold. During this interim accounting period, efforts were made to maintain and expand the number of operating rooms in existing stores and to acquire new contract customers. In addition, trunk room sales and management expenses increased due to the increase in the number of newly owned container-type trunk room properties.

The sales revenue from the trunk room development and sales business increased by 49.3% to 0.102 billion yen, and the segment profit decreased by 36.4% to 0.008 billion yen. Profit is made by planning, developing, and selling trunk rooms to real estate investors. The sales proceeds are revenue, and the costs required for development are cost of goods sold. During this interim accounting period, efforts were made to acquire development properties. In addition, containers of two properties (container-type trunk rooms) and one property (built-in-type trunk room) were sold to investors.

The sales revenue from other real estate transaction businesses increased by 123.3% to 0.029 billion yen, and the segment profit increased by 136.1% to 0.011 billion yen. Profit is made by brokering and reselling real estate other than trunk rooms to real estate investors. Brokerage fees or sales proceeds are the main source of income, and the costs required for brokering or purchasing real estate are the cost of goods sold. During this interim accounting period, rental income from company-owned real estate increased.

For the full fiscal year ending January 2025, the performance forecast remains unchanged from the initial plan, with sales revenue expected to increase by 14.3% compared to the previous year to 3.8 billion yen, operating profit to increase by 12.7% to 0.17 billion yen, ordinary profit to increase by 9.4% to 0.172 billion yen, and net income for the period to increase by 18.4% to 0.13 billion yen.