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Nippon Building declares distribution for six months ended June 30

Nippon Building Fund Inc. declared a distribution of ¥9,129 per unit for the six-month period ended June 30, with a payout ratio of 98.3%.

This translated into ¥12.89 billion of total distributions in the fiscal period.

The company paid out a ¥8,867 per unit distribution in the previous six-month period.

Moving ahead, Nippon expects to pay per unit interim distribution equal to ¥9,210 for the second half ending Dec. 31. In the same period, it forecasts its operating income will tumble 1.4% from the first half, to nearly ¥14.90 billion.

Net income and ordinary income are both estimated to decline by 0.8% to ¥13.01 billion for 2017's second six-month period. Nippon also expects operating revenues in the second half to total ¥36.60 billion, a 0.5% rise from the first half.

As of Aug. 14, US$1 was equivalent to ¥109.46.