Sumitomo R&D’s Strong 1H Results, Lifted by Larger Office Leasing Space in Tight Market Condition
No-moat-rated Sumitomo Realty & Development, or SRD, reported a record semiannual result above the consensus estimate for the full year ending March 2017. A large net revenue increase of 30% to JPY 469 billion supported an operating profit increase of 15% and net profits increase of 25%. Management took the full benefits of negative interest rates, reducing the net interest payments to a historical low on larger debt amounting to JPY 3.2 trillion. The full-year guidance also increased as man...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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