MOH Nippon reports dip in profit amid strategic growth

LONDON – MOH Nippon Plc (LSE: MOH), the Japan-based crowdfunding services provider for real estate investment, has released its unaudited interim financial results for the six months ending September 30, 2024. The company reported a revenue of JPY 4,009 million, a decrease from JPY 4,930 million in the same period last year. Profit before taxes also declined to JPY 235 million, compared to JPY 2,156 million reported in September 2023.

The decrease in profit is largely attributed to non-recurring expenses including a JPY 1.3 billion share-based payment charge related to the company’s recent listing and JPY 83 million in reverse acquisition costs. Excluding these one-time expenses, MOH Nippon maintains that its underlying business performance remains strong.

During the reported period, MOH Nippon achieved readmission to the Official List of the Financial Conduct Authority and began trading on the London Stock Exchange (LON:)’s Main Market after a reverse takeover of Minnadeooyasan-Hanbai Co. Ltd. However, the company faced a 30-day suspension of business operations in July 2024, which resulted in a 39% reduction in crowdfunding services revenue compared to the previous year. Despite this, the operating margin showed resilience, with only a slight decrease from 42% to 41%.

Looking forward, CEO Hoken Yanase emphasized the company’s growth and developments, including the successful launch of a private brand/platform and plans to explore real estate development opportunities in Canada during the second half of the year.

The interim report, which contains detailed financial information and disclosures, is available on MOH Nippon’s website and at the company’s registered office. It can also be inspected at the National Storage Mechanism of the Financial Conduct Authority. The directors of MOH Nippon have taken full responsibility for the contents of this announcement, which is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.