Mitsubishi Estate Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2016; Provides Earnings Guidance for Fiscal Ending March 31, 2017
August 04, 2016 at 04:30 pm
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Mitsubishi Estate Co., Ltd. reported consolidated earnings results for the first quarter ended June 30, 2016. The company reported net sales of JPY 242,147 million, operating income of JPY 47,340 million, net income attributable to shareholders of the company of JPY 27,400 million or JPY 19.74 per diluted share against net sales of JPY 223,847 million, operating income of JPY 37,264 million, net income attributable to shareholders of the company of JPY 23,296 million or JPY 16.79 per diluted share a year ago.
For the fiscal ending March 31, 2017, the company expects net sales of JPY 1,102,000 million, operating income of JPY 175,000 million, income before income tax and special items of JPY 150,000 million, net income attributable to shareholders of the company of JPY 86,000 million or JPY 61.98 per share.
Mitsubishi Estate Co., Ltd. specializes in development, promotion and management of real estate assets. Net sales (including intragroup) break down by activity as follows:
- management and operation of office buildings and shopping centres (55.2%);
- development, management and operation of residentials and condominiums (27.6%);
- real estate asset management (3.2%);
- other (5.2%): primarily hotel and airport management, real estate services (real estate brokerage, leasing, parking management, etc.) and engineering and construction of civil infrastructure.
The remaining net sales (8.8%) are from international real estate management and operation activities.
Mitsubishi Estate Co., Ltd. Reports Consolidated Earnings Results for the First Quarter Ended June 30, 2016; Provides Earnings Guidance for Fiscal Ending March 31, 2017
MITSUBISHI ESTATE CO., LTD. 
