Mitsubishi Estate Reports 17% Rise In Nine-Month Net Profit, Lifts Revenue Forecast

Mitsubishi Estate Co (OTC: MITEY) reported a 17% rise in its group net profit in the April-December period. Mitsubishi Estate's net profit for the period surged to Y51.86 billion, versus Y44.45 billion, in the year-ago period. Its revenue rose 4.1% to Y672.03 billion from Y645.80 billion. For the full fiscal year through March, Mitsubishi Estate maintains its net profit forecast of Y55 billion. However, it lifted its revenue outlook to Y1.01 trillion from Y977 billion. Mitsubishi Estate shares closed at $16.60 yesterday.