Sumitomo Realty's Residential Sales Drive Interim Results; Falling Contracted Sales
For the six-month period ended September 2018, Sumitomo Realty & Development reported in line results with revenue and net profit up 10% and 8% year on year to JPY 541 billion and JPY 80 billion, respectively. The growth was attributed to strong residential sales during the period, with segment revenue and operating income up 16% and 24% year on year, respectively. The six-month operating income accounted for 95% of the company's full-year target for the segment. The leasing business perform...Sumitomo Realty & Development is mainly engaged in the real estate business. Co.'s principal business segments are real estate leasing, real estate sale, construction, brokerage, and others. It is engaged in the development, direct leasing and management of office buildings and condominiums, the sublease of properties leased from special purpose companies, the provision of hotel business and the operation of event halls and conference rooms; the development and sale of condominiums, buildings, detached houses, housing land and other properties; the construction and remodeling of houses; the brokerage and sale of real estate; and the operation of fitness clubs and restaurants.
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