Solid Pipeline of Urban Redevelopments Continues to Drive the 1H Record for Sumitomo R&D
Sumitomo Realty & Development, or SRD, reported first-half results slightly above our high expectations. For the six months ended September 2017, the company reported another historic high, with higher profits and revenue while maintaining better operating margin. Net profits increased 25% to JPY 74 billion, outpacing operating profits and revenue increases of 17% and 5%, respectively. The ongoing upward asset price momentum has led to better margin expansion than its peers with operating ma...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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