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Fukuoka REIT sets FY'18 financial forecasts

Fukuoka REIT Corp. is targeting an increase in per-unit dividend payments to ¥3,470, for the six-month periods ending Feb. 28, 2018 and Aug. 31, 2018, from ¥3,422 per unit dividend paid out for the fiscal period starting March 1 to Aug. 31.

The company issued guidance for the said terms, expecting to raise profits 1.4% to roughly ¥2.59 billion by Feb. 28, 2018, and maintaining it in the subsequent six-month term. It expects to register a 1.2% jump in ordinary income to approximately ¥2.59 billion and retain it going forward. Operating income is expected to increase 0.7% to ¥2.94 billion in the following period and climb a further 0.4% to ¥2.95 billion by Aug. 31, 2018.

Meanwhile, the company's forecast for operating revenue suggests a 0.2% rise from the figure reported, as at Aug. 31, to ¥8.13 billion in the six-month period ending Feb. 28, 2018. A drop in operating revenue by 0.3% to ¥8.11 billion is projected for the March 1, 2018, to Aug. 31, 2018, period.

As of Oct. 12, US$1 was equivalent to ¥112.30.