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.