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Mitsubishi Estate FY'16 attributable profit rises 13.8% YOY

posted a 13.8% year-over-year increase in its fiscal 2016 attributable profittotaling around ¥83.43 billion.

For theyear ended March 31, the company's operating income rose 6.3% year over year toabout ¥166.20 billion, while revenue from operations decreased 9.1% year overyear to ¥1.009 trillion. Income before taxes andspecial items jumped 8.8% to ¥144.85 billion from ¥133.11 billion in theyear-ago period.

EPSfor the year came in at ¥60.13, up from ¥52.85 in the previous fiscal year.

Asof March 31, the developer's total assets stood at about ¥5.312 trillion.

Inaddition, the Japanese firm announced a year-end dividend of ¥9 per share,payable June 30. This takes the annual dividend to ¥16 per share, compared to¥14 per share in the previous fiscal year.

Forfiscal 2017, the company expects its attributable profit to rise to ¥86.00billion, while operating income is forecast to increase to ¥175.00 billion.Revenue from operations is expected to reach ¥1.102 trillion. Italso expects the annual dividend payout to be ¥16 for fiscal 2017.

As of May 10, US$1 wasequivalent to ¥109.05.