Japan Lifeline [hereinafter JLL] produced record earnings in FY24 with full-year OP of ¥12,326mil (+13.2% YoY) on sales of ¥56,610mil (+10.2% YoY), landing largely in line with the full-year guidance for OP of ¥12,600mil (+15.7% YoY) on sales of ¥56,800mil (+10.5% YoY), and is aiming for record earnings again in FY25, with 1H OP of ¥6,300mil (+0.6% YoY) on sales of ¥29,300mil (4.7% YoY), and full-year OP of ¥12,900mil (+4.7% YoY) on sales of ¥59,300mil (+4.8% YoY). The firm revised up its medium-term targets with the release of its FY25 earnings, and is now guiding for FY27 sales of ¥70,000mil, up from ¥63,000mil. JLL’s base shareholders’ return is the higher of a base dividend of 40% of net income or a DOE 5%, plus extra dividends or share buybacks, depending on circumstances.
