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Kenedix Retail offers forecast for 2 fiscal 6-month periods

Japan-listed real estate investment trust Kenedix Retail provided forecasts for the two fiscal six-month periods ending Sept. 30 and March 31, 2019.

For the April 1 to Sept. 30 reporting period, the REIT's operating revenues are estimated to increase 4.2% over the prior period to ¥8.46 billion and operating income is expected to rise 0.3% to ¥3.78 billion.

Ordinary income and net income are projected to drop by 0.4% and 0.3%, respectively, from the previous six-month period to roughly ¥3.17 billion each. The company said its distribution for the period is estimated to be ¥6,235 per unit.

During the fiscal period from Oct. 1 to March 31, 2019, operating revenues are expected to decline 2.9% from the prior period to nearly ¥8.22 billion, and operating income is projected to decrease 0.6% to approximately ¥3.76 billion.

Kenedix Retail's ordinary income and net income are both expected to decline by 0.2% from the previous six-month forecasts to roughly ¥3.16 billion each. The company predicts that it will distribute ¥6,220 per unit for the six-month period.

As of May 17, US$1 was equivalent to ¥110.82.