The general evaluation of MITSUI FUDOSAN (JP), a company active in the Real Estate Holding & Development industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 28, 2022, the...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
We raise our fair value estimate on Mitsui Fudosan from JPY 2,840 to JPY 3,000 (19% above its share price) as we roll forward our model to incorporate its in line results for the year ended March 2019 reported May 10. On May 14, Mitsui Fudosan held a results meeting where management answered analyst questions. We think the discussions about the company’s target financial leverage and governance are particularly relevant after its rival Mitsubishi Estate announced on May 14 an unexpectedly la...
We raise our fair value estimate on Mitsui Fudosan from JPY 2,840 to JPY 3,000 (19% above its share price) as we roll forward our model to incorporate its in line results for the year ended March 2019 reported May 10. On May 14, Mitsui Fudosan held a results meeting where management answered analyst questions. We think the discussions about the company’s target financial leverage and governance are particularly relevant after its rival Mitsubishi Estate announced on May 14 an unexpectedly la...
We raise our fair value estimate on Mitsui Fudosan from JPY 2,840 to JPY 3,000 (19% above its share price) as we roll forward our model to incorporate its in line results for the year ended March 2019 reported May 10. On May 14, Mitsui Fudosan held a results meeting where management answered analyst questions. We think the discussions about the company’s target financial leverage and governance are particularly relevant after its rival Mitsubishi Estate announced on May 14 an unexpectedly lar...
Mitsui Fudosan reported somewhat lackluster results for the October-December quarter, achieving only 63% of its operating profit guidance of JPY 250 billion and net profit guidance of JPY 163 billion for the fiscal year ending March 2019 in the first three quarters. Annualized ROE for the quarter was 6.0%, compared with 7.4% last fiscal year. Although its leasing segment through the third quarter has achieved 78% of guidance for full-year operating profit due to upward revision of rents from e...
Mitsui Fudosan reported somewhat lackluster results for the October-December quarter, achieving only 63% of its operating profit guidance of JPY 250 billion and net profit guidance of JPY 163 billion for the fiscal year ending March 2019 in the first three quarters. Annualized ROE for the quarter was 6.0%, compared with 7.4% last fiscal year. Although its leasing segment through the third quarter has achieved 78% of guidance for full-year operating profit due to upward revision of rents from e...
Mitsui Fudosan reported somewhat lackluster results for the October-December quarter, achieving only 63% of its operating profit guidance of JPY 250 billion and net profit guidance of JPY 163 billion for the fiscal year ending March 2019 in the first three quarters. Annualized ROE for the quarter was 6.0%, compared with 7.4% last fiscal year. Although its leasing segment through the third quarter has achieved 78% of guidance for full-year operating profit due to upward revision of rents from e...
Mitsui Fudosan reported half-year results in line with our expectation. For the six-month period ending September 2018, revenue and operating profit were up 19% and 22% year over year, respectively. The main driver of growth was strong property sales with revenue and operating profit up 73% and 157%, respectively, driven by rising average selling prices. For leasing, the largest contributor to earnings, the top line grew 8% but earnings fell 1% on margin compression. The weakness is reflected in...
Mitsui Fudosan reported half-year results in line with our expectation. For the six-month period ending September 2018, revenue and operating profit were up 19% and 22% year over year, respectively. The main driver of growth was strong property sales with revenue and operating profit up 73% and 157%, respectively, driven by rising average selling prices. For leasing, the largest contributor to earnings, the top line grew 8% but earnings fell 1% on margin compression. The weakness is reflected in...
Mitsui Fudosan reported half-year results in line with our expectation. For the six-month period ending September 2018, revenue and operating profit were up 19% and 22% year over year, respectively. The main driver of growth was strong property sales with revenue and operating profit up 73% and 157%, respectively, driven by rising average selling prices. For leasing, the largest contributor to earnings, the top line grew 8% but earnings fell 1% on margin compression. The weakness is reflected in...
Mitsui Fudosan reported first-quarter results in line with our expectation. Revenue and operating profit were up 16% and 8% year over year, respectively. The main driver of growth was strong property sales with revenue and operating profit up 41% and 36%, respectively, driven by rising average selling prices. For leasing, the largest earnings contributor, top line grew 7%, but earnings fell 3% on margin compression. The weakness is reflected in rising vacancy rates across the company’s office ...
Mitsui Fudosan reported first-quarter results in line with our expectation. Revenue and operating profit were up 16% and 8% year over year, respectively. The main driver of growth was strong property sales with revenue and operating profit up 41% and 36%, respectively, driven by rising average selling prices. For leasing, the largest earnings contributor, top line grew 7%, but earnings fell 3% on margin compression. The weakness is reflected in rising vacancy rates across the company’s office ...
Despite the concern of slow run rate through the first nine months of the fiscal year, Mitsui Fudosan, or MF, slightly exceeded its full-year target as a result of robust sales revenue pickup during the last quarter. Excluding extraordinary items, the company’s earnings were 2% ahead of our initial projection. The balance sheet has become more leveraged with higher residential property inventory, causing net gearing to rise slowly to 109% at fiscal year-end, compared with 104% a year ago. But ...
Despite the concern of slow run rate through the first nine months of the fiscal year, Mitsui Fudosan, or MF, slightly exceeded its full-year target as a result of robust sales revenue pickup during the last quarter. Excluding extraordinary items, the company’s earnings were 2% ahead of our initial projection. The balance sheet has become more leveraged with higher residential property inventory, causing net gearing to rise slowly to 109% at fiscal year-end, compared with 104% a year ago. But ...
Despite the concern of slow run rate through the first nine months of the fiscal year, Mitsui Fudosan, or MF, slightly exceeded its full-year target as a result of robust sales revenue pickup during the last quarter. Excluding extraordinary items, the company’s earnings were 2% ahead of our initial projection. The balance sheet has become more leveraged with higher residential property inventory, causing net gearing to rise slowly to 109% at fiscal year-end, compared with 104% a year ago. But ...
Despite the concern of slow run rate through the first nine months of the fiscal year, Mitsui Fudosan, or MF, slightly exceeded its full-year target as a result of robust sales revenue pickup during the last quarter. Excluding extraordinary items, the company’s earnings were 2% ahead of our initial projection. The balance sheet has become more leveraged with higher residential property inventory, causing net gearing to rise slowly to 109% at fiscal year-end, compared with 104% a year ago. But ...
Mitsui Fudosan reported first-quarter results in line with our high expectation. Tokyo’s tight building supply and stable demand lifted the revenue and operating profits by 7.0% and 8.8%, respectively, year over year by doubling the condominium sales year on year. But higher tax expenses on the company’s large deferred tax liability on unrealized gain reduced net profits 1.1% year over year to JPY 33.8 billion, offsetting positive impacts from large capital gains. For fiscal 2017, the firm i...
No-moat-rated Mitsui Fudosan, or MF, reported the record 2016 results in line with our high expectation for the full year ended March 31, 2017. Larger-than-expected capital gain lifted the net profits 12% year on year to JPY 131.8 billion outpacing the revenue growth of  8.7%. The revenue growth is supported by two new retail facilities openings for fiscal 2016 and six retail facilities and two office building openings for fiscal 2015 starting to contribute to the full-year results. For fiscal ...
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