Kajima raises FY2025 forecasts, lifts year-end dividend

Kajima Corporation revised its consolidated financial forecast for FY2025, now expecting net income attributable to owners of the parent to reach JPY 155.0 bn, a JPY 25.0 bn increase from the previous forecast of JPY 130.0 bn. Consolidated revenues are projected at JPY 3,000,000 m, up from JPY 2,950,000 m. Non-consolidated forecasts also saw upward adjustments, with net income attributable to owners of the parent increasing from JPY 98,000 m to JPY 125,000 m, driven by improved profitability in civil engineering and building construction.

Domestic subsidiaries and affiliates are expected to contribute an additional JPY 5,000 m to net income due to strong construction progress and improved real estate sales. However, overseas subsidiaries and affiliates anticipate a JPY 7,000 m shortfall from previous forecasts, as sales of certain developed properties in the U.S. and Europe have been rescheduled to future fiscal years in anticipation of better market conditions.

In line with these revised earnings, Kajima increased its year-end dividend forecast from JPY 56.00 to JPY 76.00 per share. Including the interim dividend of JPY 56.00, the total annual dividend for FY2025 is projected to be JPY 132.00 per share, representing a consolidated dividend payout ratio of 39.8%. This aligns with the company's policy of balancing growth investments with shareholder returns and a target payout ratio of 40%.