Mitsubishi Estate Company, Limited. (MITEY.PK), a Japanese real estate developer, on Friday reported a decline in net profit for the third-quarter. However, the company reported a rise in revenue.
In addition, Mitsubishi Estate has reaffirmed its annual net profit guidance.
For the three-month period, the firm reported a net income of 77.547 billion yen, compared with 102.809 billion yen, reported for the same period last year.
Operating income dropped to 146.821 billion yen from previous year's 200.012 billion yen, mainly due to the absence of large overseas capital gains.
Profit from International Business plunged to 26.781 billion yen from 69.178 billion yen a year ago.
Loss from Investment Management Business stood at 3.593 billion yen as against a profit of 19.382 billion last year.
Operating revenue was 926.448 billion yen, up from previous year's 906.324 billion yen.
Looking ahead, for the full year, Mitsubishi Estate said it still expects a net profit of 166 billion yen.
The company has revised up its operating income guidance, which is now 267 billion yen versus the previous outlook of 264 billion yen.
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