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Daiwa House fiscal Q1 net income climbs 24.2% YOY

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Daiwa House fiscal Q1 net income climbs 24.2% YOY

Japan's Daiwa House Industry Co. Ltd. said net income attributable to owners of the parent for the fiscal quarter ended June 30 increased 24.2% year over year to approximately ¥65.07 billion from ¥52.41 billion.

EPS for the fiscal first quarter grew to ¥98.00 from ¥78.83 in the year-ago quarter.

Ordinary income rose to roughly ¥93.43 billion from ¥77.06 billion, and net sales increased 12.8% year over year to ¥1.018 trillion from nearly ¥902.40 billion. Operating income climbed to ¥92.40 billion from ¥75.33 billion in the prior-year period.

The Japanese real estate company maintained earnings forecast for the fiscal year ending March 31, 2020. It plans to distribute a total dividend of ¥115 per share for the fiscal year, up from ¥114 per share paid in the fiscal year ended March 31.

As of Aug. 7, US$1 was equivalent to ¥105.70.