Sumitomo R&D posts Strong 3Q16 Results on Aggressive Supply lifted by Cyclical Sales Increases
No-moat-rated Sumitomo Realty & Development, or SRD, reported a record quarterly result as expected for the nine-month period ended December 2016. A large net revenue increase of 22% to JPY 679.5 billion again supported an operating profit increase of 12% and net profits increase of 15%. The company’s strong results already reached 88% of full-year guidance for the nine-month period, on track to achieve the record profit for the year ending March 2017. We maintain our fair value estimate of ...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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