CRE boosts profit amid takeover, plans end to dividend

Cre, a Japanese logistics real estate company (TSE:3458), announced a substantial 134.7% increase in operating profit to ¥3.03 billion for the second quarter of fiscal year 2025, driven by strong performance across its logistics investment, real estate management, and asset management segments. However, the company also declared it would not pay a year-end dividend for FY2025, contingent on the successful completion of a tender offer by SMFL MIRAI Partners. As part of the restructuring, SMFL seeks to take Cre private. The tender offer values Cre at nearly ¥73 billion. This action also aligns with Cre's strategy to focus on a more comprehensive logistics infrastructure platform. Cre plans to expand into development and construction by leveraging its ¥210 billion pipeline in various locations including Vietnam and Indonesia.