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Sakura Sogo REIT revises forecasts for 2 fiscal periods

Sakura Sogo REIT Investment Corp. revised its operating and distribution forecasts for the March 1 to June 30 and the July 1 to Dec. 31 fiscal periods.

For the period ending June 30, the diversified real estate investment trust expects operating revenue to come in at about ¥1.628 billion, a 0.2% decrease from its previous projection of ¥1.632 billion. It increased its forecast for net income to ¥600.0 million from ¥599.0 million, while distributions per unit for the period is expected at ¥1,801 from ¥1,800.

In the next fiscal period, the Japanese trust's operating revenue is expected to be at about ¥2.43 billion, up from its previous forecast of roughly ¥2.42 billion. Projections for operating income, net income and distributions per unit were reduced from a previous guidance to ¥1.06 billion, ¥899 million and ¥2,700.

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