Mitsubishi Estate Delivers Solid Third Quarter as Tokyo Office Rents Continue to Rise
Mitsubishi Estate delivered solid results for the October-December quarter, achieving 76% of its operating profit guidance of JPY 215 billion for the fiscal year ending March 2019 and 79% of its full-year net profit guidance of JPY 123 billion. Annualized ROE for the quarter was 8.0%, compared with 7.2% for the fiscal first half and 7.3% last fiscal year, while earnings depended on capital gains to a lesser degree. Capital gains totaled about JPY 2 billion in the quarter, versus an average of ar...Mitsubishi Estate is a real estate company. The Building segment is engaged in the development and leasing of office buildings. The Lifestyle Property segment is engaged in the development, leasing and operation of retail properties. The Residential segment is engaged in the construction and sale of condominiums and single-family houses. The International segment is engaged in the real estate leasing and development in the U.S., U.K. and Asia. The Architectural Design & Engineering segment is engaged in the design and administration of construction and civil engineering projects. Co. also operates hotels and provides real estate investment and brokerage services.
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