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Mitsui Fudosan beats FY'16 attributable profit target

said thatprofit attributable to owners of its parent for the fiscal year ended March 31 wasup 17.5% year over year to ¥117.72 billion from around ¥100.19 billion in the previous fiscal year.

The companyhad forecast attributableprofit for the fiscal year to be at ¥107.00 billion.

For thecomparable period, ordinary income was up 11.7% to ¥182.52 billion from ¥163.37billion; operating income was up 8.8% to ¥202.48 billion from ¥186.07 billion; andrevenue from operations was up 2.5% to about ¥1.568 trillion from ¥1.529 trillion.

EPS forthe fiscal year came out to ¥119.14 from ¥103.89, according to the earnings release.

The Japanesedeveloper reported that as at March 31, its total assets are worth ¥5.374 trillion,up from the year-ago period's ¥5.077 trillion. The company's cash and cash equivalentsat the end of the fiscal year were around ¥109.97 billion.

Meanwhile,Mitsui Fudosan's total dividend for the year ended March 31 was ¥30.00 per share,up from ¥25.00 a year ago. For the financial year ending March 31, 2017, the companyexpects dividends to come up to ¥32.00 per share.

Lookingahead, the company expects year-over-year revenue from operations to jump 11.6%to ¥1.750 trillion; operating income to increase 8.7% to ¥220.00 billion; ordinaryincome to increase 8.5% to ¥198.00 billion; attributable profit to increase 6.2%to ¥125.00 billion and EPS to jump to ¥126.50.

As of May 9, US$1 was equivalentto ¥108.36.