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Nippon Accommodations Fund offers forecast for fiscal six months

Japanese residential real estate investment trust Nippon Accommodations Fund Inc. provided earnings forecasts for the fiscal six-month period from Sept. 1 to Feb. 28, 2019.

The company expects total revenue to increase 0.1% from the previous period to nearly ¥11.06 billion and operating income to rise 2.0% to ¥5.03 billion. Pretax income and net income are each projected to grow 2.6% during the period to roughly ¥4.56 billion, while net income per unit is forecast at ¥9,402.

Distribution for the fiscal period is expected to total ¥9,350 per unit, the REIT added in a release.

As of Oct. 17, US$1 was equivalent to ¥112.13.