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Heiwa Real Estate revises forecasts for FY'17

Heiwa Real Estate Co. Ltd. predicted an "extraordinary loss" in its net income attributable to owners of the parent company and revised forecasts for the fiscal year ending March 31, citing latest performance trends as a reason.

The company revised the prediction for its net income attributable to owners of the parent company to ?¥4.0 billion, reflecting a change of 11.1% decrease from a previous forecast of ?¥4.5 billion.

The forecast for operating revenue remained ?at ¥41 billion, while the forecast for operating income was increased to ?¥9.2 billion from ?¥8.5 billion. The forecast for ordinary income was also pushed up to ?¥8 billion from ?¥7 billion. The upward revisions in operating and ordinary income were mainly due to Heiwa Real Estate's property sales beating an initial forecast in its real estate solutions business, the company said in a release.

As of March 31, US$1 was equivalent to ?¥111.40.