Universal Entertainment Corporation has announced a significant revision downward of its business results and year-end dividend forecast for the full year.
In an announcement signed by President Tomohiro Okada, the company has adjusted its consolidated business results forecast for the fiscal year ending December 31, 2024, which was initially announced on February 14, 2024.
The revised figures indicate that net sales, previously forecasted at JPY200 billion ($1.30 billion), have been lowered to JPY126 billion ($818 million). The operating profit forecast has been reduced from JPY36 billion ($234 million) to JPY2 billion ($13 million).
Ordinary profit is now expected to decline from JPY20 billion ($130 million) to a loss of JPY8.7 billion ($56 million). Additionally, net income attributable to owners of the parent has been revised from JPY19.6 billion ($127 million) to a loss of JPY18.3 billion ($119 million), and net income per share has been adjusted from JPY252.93 ($1.64) to JPY236.15 ($1.53).
This marks a substantial downward revision of JPY74 billion ($481 million) in net sales and a 94.4 percent decrease in operating profit.
These adjustments are primarily due to delays in the release of key titles in the Amusement Equipment Business and ongoing challenges in the Integrated Resort (IR) Business, particularly concerning a potential decline in VIP customers in the Philippines.
In light of this revised business outlook, Universal Entertainment has also updated its dividend forecast.
The year-end dividend has been decreased from JPY30.00 ($0.19) per share to JPY0.00, resulting in a total annual dividend of JPY30.00 ($0.19) per share. This change reflects the company’s commitment to aligning its dividend policy with its current financial situation.
