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Mitsui Fudosan fiscal FY attributable profit climbs 18.3% YOY, beating guidance

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Mitsui Fudosan fiscal FY attributable profit climbs 18.3% YOY, beating guidance

Mitsui Fudosan Co. Ltd. said profit attributable to owners of its parent for the fiscal year ended March 31 came to ¥155.87 billion, an increase of 18.3% from ¥131.82 billion in the prior-year period.

The company's attributable profit exceeded its guidance of ¥140.0 billion.

EPS came in at ¥157.63, compared to ¥133.31 for the previous corresponding period. The EPS guidance for the period was ¥141.68.

Operating income increased 5.7% year over year to ¥245.90 billion from roughly ¥232.70 billion, and revenue from operations rose year over year to ¥1.751 trillion from ¥1.704 trillion. Ordinary income totaled ¥240.34 billion compared with ¥219.61 billion in the year-earlier period.

The company declared a year-end cash dividend of ¥22.0 per share, higher than its guidance of ¥18.0 per share, resulting in a total dividend of ¥40.0 per share compared to its guidance of ¥34.0 per share for the reporting year.

In reporting results, the company said it forecasts attributable profit at ¥153.00 billion for the fiscal full year ending March 31, 2019. It expects ordinary income of ¥233.00 billion, operating income of ¥250.00 billion and revenue from operations of ¥1.870 trillion.

The company also expects EPS at ¥154.82 for the subsequent fiscal year.

As of May 10, US$1 was equivalent to ¥109.58.