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Mitsui Fudosan fiscal Q1 profit falls 12.9% YOY

Mitsui Fudosan Co. Ltd. said profit attributable to owners of the parent for the fiscal first quarter ended June 30 totaled ¥33.18 billion, a 12.9% decrease from ¥38.08 billion in the prior-year period.

EPS for the three-month period came in at ¥33.84, a decline of 12.1% from ¥38.51 in the year-earlier period.

Operating income declined 8.8% year over year to nearly ¥50.89 billion from approximately ¥55.77 billion, while ordinary income fell 9.7% on an annual basis to about ¥49.34 billion from ¥54.65 billion.

Revenue from operations decreased 3.4% to ¥427.17 billion from ¥442.35 billion in the fiscal first quarter ended June 30, 2018. As at June 30, Mitsui Fudosan's total assets weighed in at roughly ¥6.909 trillion, compared with approximately ¥6.803 trillion as at March 31.

The company's earnings forecast for the fiscal year ending March 31, 2020, remains unchanged.

As of Aug. 1, US$1 was equivalent to ¥108.24.