Courtesy of Benzinga.
Mitsubishi Estate Co (OTC: MITEY) reported around 12% y/y decline in its net profit in the fiscal year ended March 31.
Mitsubishi Estate’s net profit for the period declined to Y56.51 billion, versus Y64.22 billion, in the year-ago period. Its revenue climbed 2.5% to Y1.013 trillion from Y988.45 billion.
For the current fiscal year ending March 2013, Mitsubishi Estate expects a 12% drop in net profit to Y50 billion. It projects an 8.4% drop in operating profit to Y134 billion. Its revenue is projected to fall 8.5% to Y927 billion.
Mitsubishi Estate shares closed at $16.36 on Friday.
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