Mori Building Co., Ltd.
Mori Building Achieves Record Earnings in Fiscal Year Ending March 2016
Record operating revenue (3rd straight) and ordinary income (5th straight) thanks to growth in all segments
Tokyo, May 17, 2016 – Mori Building, a leading urban landscape developer, announced today its financial results for the fiscal year that ended in March 2016, as follows:
- Both revenue and income grew, largely due to Toranomon Hills' first full year of operation.
- Leasing business grew steadily due to high occupancy rates for both offices and residences.
- Hotel business, including Andaz Tokyo, grew steadily.
- Property sales grew steadily, including new residences at Forest Terrace Toriizaka from September.
Mori Building also announced its consolidated forecasts for the fiscal year ending March 2017, as follows:
- Stronger revenue is expected, supported by continued growth in all business segments, including high occupancy rates for offices and residences, increased leasing revenue and steady growth in hotel business.
- Net income is forcast to decline as no sale of additional residential property or major fixed asset is planned.
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.
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Mori Building Co., Ltd. Public Relations