Park24 First-Half Net Profit Soars Nearly Fivefold to ¥29.7 Billion on Overseas Divestitures; Dividend Lifted to ¥65

Park24 Co., Ltd. (TSE: 4666) reported consolidated results for the first half (interim period) of the fiscal year ending October 31, 2026 (FY10/2026) — covering November 1, 2025 to April 30, 2026 — under Japanese GAAP. Revenue rose 4.6% year-on-year to ¥202,275 million, operating profit climbed 9.6% to ¥17,295 million, and ordinary profit advanced 13.0% to ¥15,730 million. The standout figure, however, was net profit attributable to owners of the parent, which surged 495.3% to ¥29,657 million from ¥4,981 million — driven by large gains booked on the divestiture of the group's overseas businesses. Basic EPS jumped to ¥173.75 from ¥29.20, and comprehensive income rose 352.2% to ¥37,492 million.

Core domestic business keeps growing

Underneath the headline gains, the operating performance of the core franchise remained healthy. Park24 operates Japan's largest "Times" car-park network alongside the "Times Car" car-sharing and mobility service and related parking and mobility businesses. The 9.6% rise in operating profit to ¥17.3 billion — outpacing the 4.6% revenue gain — points to continued operating leverage and disciplined cost management in the domestic parking and car-sharing operations. Ordinary profit's stronger 13.0% advance reflects improved non-operating items relative to the prior-year half.

Overseas divestitures drive the profit surge

The defining event of the half was a strategic exit from international operations. During the period Park24 divested four overseas subsidiaries — including NATIONAL CAR PARKS LIMITED (the UK's "NCP" parking operator), PARK24 INTERNATIONAL LIMITED, MEIF II CP Holdings 2 LIMITED, and TIMES24 SINGAPORE PTE. LTD. The disposals generated large gains that lifted net profit to nearly five times the prior-year level. The company also recorded special losses and a tax adjustment, disclosed separately the same day. The net effect is a portfolio sharply refocused on the Japanese home market.

Balance sheet

At the half-year close, total assets stood at ¥344,247 million and net assets at ¥110,632 million, for an equity ratio of 32.1%. The strengthened equity base reflects the profit booked on the overseas divestitures during the period.

Dividend more than doubled to ¥65

Reflecting the transformative half and the strengthened earnings base, Park24 raised its FY10/2026 annual dividend to ¥65.00 per share (¥0 interim + ¥65.00 year-end), up from ¥30.00 in FY10/2025 — a 116.7% increase. The full year-end weighting (no interim payment) is consistent with the company's existing dividend schedule.

Full-year guidance lifted

Park24 revised its FY10/2026 full-year guidance upward to reflect the overseas-divestiture gains and the resilient core business. The company now guides revenue of ¥411,000 million (+1.2%), operating profit of ¥42,500 million (+13.1%), ordinary profit of ¥39,500 million (+15.6%), and net profit attributable to owners of ¥44,000 million (+176.4%), with EPS of ¥257.76. The double-digit operating-profit growth underlines management's confidence in the domestic parking and car-sharing franchise even as the group sheds its international footprint.

JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.