-All segments meet forecasts
-Record highs in operating and ordinary income forecasted for full year
Tokyo, November 25, 2015 - Mori Building, a leading urban landscape developer, announced today its financial results for the first six months of fiscal 2015 ending March 2016, as follows:
Main highlights
- Revenue from leasing increased steadily due to strong performance in office and residential units.
- Facilities operation business, which centers on hotels, rose thanks to full-year operation of Andaz Tokyo and increased demand generated by inbound foreign travelers.
- Revenue from overseas business rose, thanks to contined strong performance among office units at the Shanghai World Financial Center.
- Overall, all business sectors performed as forecast, though proprety-business revenue decreased due to fewer new residential properties available for sale. Full-year consolidated forecasts remain unchanged.
- Operating income and ordinary income for the full year are forecast to set new records for Mori Building.
Consolidated results are based on information available on the day of the announcement, as analyzed by Mori Building. Forecasts are subject to inherent risks and uncertainty, so actual results may differ due to changes in various factors.
About Mori Building
Tokyo-based Mori Building Co., Ltd. devises groundbreaking concepts for urban living throughout Asia. As one of Japan's leading developers, Mori Building creates and nurtures cities with signature "town management" solutions to help communities function and thrive. The company develops and operates multi-use facilities including high-quality offices, residences and commercial outlets, such as the Roppongi Hills and Toranomon Hills complexes in Tokyo and the Shanghai World Financial Center in China. Activities are centered on three core themes: safety and security, including disaster preparedness and security measures; the environment and greenery; and culture and art, highlighted by the Mori Art Museum. Mori Building was established in 1959.