JSB <3480> announced its consolidated financial results for the third quarter of the fiscal year ending in October 2024 (November 23 - July 24). Revenue increased by 9.6% to 54.133 billion yen compared to the same period last year, operating profit increased by 13.1% to 8.119 billion yen, ordinary profit increased by 13.3% to 8.048 billion yen, and net profit attributable to the parent company's shareholders for the quarter increased by 56.9% to 7.528 billion yen.

The current medium-term management plan, GT02 (fiscal year ending in October 2024 - fiscal year ending in October 2026), which is positioned as Phase 2 of the long-term vision "Grow Together 2030", aims for balanced management and organizational reform, and is steadily solidifying the business.

In the main business of student housing, the number of managed properties is steadily increasing, and the subsidiaryization of Student Housing as of November 1, 2023 has also contributed to surpassing the initial plan (94,978 units, an increase of 9,525 units compared to the same period last year as of the end of April). The occupancy rate continues to be at a high level (99.9% as of the end of April), and the management performance during the cumulative period of the third quarter is progressing smoothly. With the increase in the number of managed properties, sales of revenue and maintenance-related revenue for various real estate rental services, including rental income and meal services for student apartments, are performing well. In addition, the impact of the quarterly deviation in sales that occurred in the second quarter cumulative period due to the review of occupancy-related expenses is gradually being resolved as time passes. On the cost side, the increase in the number of managed properties and the active expansion of student apartments with meals have led to an increase in guaranteed rent and depreciation expenses, as well as food procurement, maintenance-related costs, and personnel expenses associated with the expansion of the group's business. Also, as of November 1, 2023, we transferred all shares of Gran Uni Life Care Service, which primarily handles the "elderly housing business," to Gakken Holdings <9470>, a consolidated subsidiary of Gakken Kokofan, and recorded a special gain of 2.98 billion yen from the sale of shares of related companies.

The consolidated performance forecast for the fiscal year ending in October 2024 remains unchanged from the initial plan, with revenue expected to increase by 7.6% to 68.652 billion yen compared to the previous year, operating profit expected to increase by 5.0% to 7.549 billion yen, ordinary profit expected to increase by 4.3% to 7.38 billion yen, and net profit attributable to the parent company's shareholders expected to increase by 47.8% to 7.058 billion yen.