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LaSalle LOGIPORT directors to step down, sets FY'18 financial forecasts

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LaSalle LOGIPORT directors to step down, sets FY'18 financial forecasts

The tenure of LaSalle LOGIPORT REIT's executive director Toshimitsu Fujiwara will come to a close Nov. 30, alongside supervisory directors Kentaro Shibata and Koji Nishiuchi.

Fujiwara serves as the president and CEO of LaSalle's asset management company, LaSalle REIT Advisors K.K.

The company aims to bring in their replacements Dec. 1.

Additionally, the company will propose to appoint Toshiaki Fukai as an alternate executive director at its second general unit holders meeting. He will deputize for the executive director in his absence and make up for any decreases in the minimum number of executive directors stipulated by law.

Separately, the trust set its guidance for the six-month periods ending Feb. 28, 2018, and Aug. 31, 2018, with plans to pay out per-unit distributions of ¥2,382 and ¥2,359 in the respective terms. The distribution caters in those in excess of earnings per unit.

A 0.1% increase to roughly ¥2.43 billion is expected in net income during the period from Sept. 1 to Feb. 28, 2018, compared to the figure recorded, as at Aug. 31. Meanwhile, net income in the subsequent term is estimated to be nearly ¥2.41 billion, reflecting a 1% fall year over year. Similarly, ordinary income will rise 0.1% to approximately ¥2.43 billion by Feb. 28, 2018, and drop 1% to about ¥2.41 billion in the following fiscal term.

Operating income is projected to face a 1.8% year-over-year descent to ¥2.69 billion in the six-month period to follow and a 0.7% decrease to ¥2.67 billion by Aug. 31, 2018. Forecasts for operating revenues note respective 1.4% and 0.7% decline to ¥5.16 billion and ¥5.12 billion during the said terms.

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