SBS Holdings <2384> announced on the 12th its consolidated financial results for the third quarter of the fiscal year ending December 2024 (January - September 2024). Revenue was 330.282 billion yen, an increase of 1.6% compared to the same period last year, operating profit was 13.228 billion yen, a decrease of 21.3%, ordinary profit was 13.591 billion yen, a decrease of 20.4%, and net income attributable to shareholders was 7.553 billion yen, a decrease of 19.5%.

Revenue from the logistics business was 310.47 billion yen, an increase of 1.8% year-on-year due to the effects of new site launches, while operating profit decreased by 26.5% to 6.39 billion yen due to rising new setup costs. In the core logistics business, the company focused on expanding trades with existing customers, acquiring new customers seeking high logistics capabilities, and tapping into the demand for e-commerce logistics.

Revenue from the real estate business was 12.728 billion yen, a decrease of 2.9%, and operating profit decreased by 17.0% to 6.386 billion yen. In the development business, the company consistently carries out large warehouse construction from land acquisition to meet customer logistics needs for 3PL and 4PL operations within the group. In the leasing business, it generates rental income from warehouses, office buildings, and residences held by the group. The company is liquidating logistics real estate to recover funds for future investments, and the revenue generated from this liquidation is included in the real estate business. In the cumulative period of the third quarter, the transfer of trust beneficiary rights for the Shin-Sugita Logistics Center (Yokohama City) was executed, but since it fell below the logistics real estate liquidation performance of the previous year, revenue and profit decreased.

Revenue from other businesses was 7.084 billion yen, an increase of 2.6%, and operating profit decreased by 5.7% to 0.275 billion yen. The main components of other businesses include staffing services, marketing services, photovoltaic technology, and environmental services.

Regarding the full-year financial estimates for the fiscal year ending December 2024, a revision of the consolidated earnings forecast was announced on the same day. Revenue is expected to be 442 billion yen, an increase of 2.3% from the previous period (a decrease of 1.8% from the previous forecast), operating profit is expected to be 17.2 billion yen, a decrease of 12.8% (a decrease of 18.1%), ordinary profit is projected at 17.5 billion yen, a decrease of 11.4% (a decrease of 14.6%), and net income attributable to shareholders is expected to be 9 billion yen, a decrease of 10.5% (a decrease of 14.3%).