Sekisui House Reit Inc. revised its financial forecasts for two consecutive six-month periods ending Oct. 31 and April 30, 2019.
For the six months ending Oct. 31, the Japan-based real estate investment trust expects per-unit distributions, including distributions in excess of earnings, of ¥1,531, a 15.6% climb from its previous forecast of ¥1,324. Distribution in excess of earnings for the period, from previously estimating ¥145 per unit, is not expected to be declared. Operating revenue, operating income and ordinary income were also changed to about ¥12.14 billion from roughly ¥12.08 billion, ¥5.57 billion from nearly ¥5.69 billion, and to approximately ¥4.88 billion from ¥4.98 billion, respectively.
For the six-month period ending April 30, 2019, Sekisui House changed its forecast for distribution per unit, including distributions in excess of earnings, to ¥1,526 from ¥1,496. The company also expects operating revenue, operating income and ordinary income to be at nearly ¥12.08 billion, ¥6.35 billion and ¥5.60 billion, respectively, from previous forecasts of about ¥12.14 billion, ¥6.37 billion and ¥5.63 billion.
The forecast revisions take into account the trust's acquisition of the Hamamatsu Plaza property from its absorption-type merger with Sekisui House Residential, which closed May 1. Sekisui House added that it plans to sell the property at the end of the fiscal period ending Oct. 31.
As of June 15, US$1 was equivalent to ¥110.52.