Buffalo Inc. announces dividend increase and earnings discrepancy

BUFFALO INC. (TSE:6676), formerly Melco Holdings, has announced revisions to its dividend forecasts alongside discrepancies in its non-consolidated financial results for the fiscal year ending March 31, 2025. The company is raising its annual dividend forecast to JPY120 per share, which includes a JPY20 commemorative dividend to honor the company's 50th anniversary on May 1, 2025. This celebratory payout is in recognition of shareholder support. However, the non-consolidated results reveal a significant downturn in key metrics compared to the previous fiscal year. Net sales decreased to JPY3,904 million from JPY12,446 million, operating profit fell to JPY1,199 million from JPY9,772 million, and ordinary profit declined to JPY1,974 million from JPY10,494 million. This downturn is attributed to reduced dividends from consolidated subsidiaries. Despite the revenue and profit declines, the company reported a non-consolidated profit of JPY1,992 million. This increase is due to JPY9,941 million loss on valuation of shares of subsidiaries and associates and JPY2,060 million provision of allowance for doubtful accounts under extraordinary losses. The revised dividend forecast supersedes the previous forecast from August 26, 2024, which projected an annual dividend of JPY100 per share.