Mitsui Fudosan Co., Ltd. (MTSFY.PK), a real estate developer, Friday reported profit before tax of 220.118 billion yen for the 9-month period, lower than 258.262 billion yen in the same period a year ago, primarily impacted by drop in revenue.
Separately, Mitsui Fudosan announced its decision to buy back up to 45 billion yen of shares from February 7, 2025 through January 31, 2026.
Net profit declined to 144.022 billion yen or 51.56 yen per share from 166.457 billion yen or 59.38 yen per share last year.
Operating income deceased 10.1 percent to 220.600 billion yen from 245.294 billion yen a year ago.
Revenue for the period dropped 1.3 percent to 1,676.799 billion yen from 1,699.015 billion yen in the previous year.
Net assets at the end of the third quarter were 3,130.181 billion yen or 1,084.34 yen per share, down from 3,234.656 billion yen or 1,109.89 yen per share last year.
Looking forward, the company has raised its full-year net profit outlook to 240 billion yen, up 5 billion yen from the previous forecast. It also sees annual revenue of 2,600 billion yen.
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