Invincible Investment Corp. revised its earnings guidance for the 2017 second half upward and offered its outlook for the first and second halves of 2018.
The hotel real estate investment trust expects its net income for the six-month period ended Dec. 31, 2017, to total about ¥7.30 billion, or ¥1,523 per unit, up 3% over its previous guidance.
Its ordinary income for the period is expected to total ¥7.30 billion, up 2.7% from its previous forecast, while its operating revenues are expected to come in 0.5% higher than the prior guidance at ¥12.65 billion.
Invincible Investment said the increased earnings forecast takes into account positive growth from its hotel and residential assets.
For the first half of 2018, the company expects net income of ¥7.37 billion, or ¥1,537 per unit, while its ordinary income and operating revenues are expected to total ¥7.37 billion and ¥12.78 billion, respectively.
For the second half of 2018, Invincible Investment expects net income to total ¥7.41 billion, or ¥1,545 per unit. Ordinary income and operating revenues for the period are expected to total ¥7.41 billion and ¥12.88 billion, respectively.
The company also expects its full-year operating revenues to increase 17.2% year over year, while its net income and ordinary income are forecast to increase by 23.1% in 2018, compared to its previous outlook.
As of Feb. 13, US$1 was equivalent to ¥107.51.