TOKYO (dpa-AFX) - Nippon Building Fund Inc. (S4C.F), a Japanese real estate investment trust, on Monday reported higher earnings for the six months ended June 30, 2026, compared with the previous period, supported by higher rental revenue and a gain on the sale of investment properties.
Net income increased to 24.354 billion yen or 2,768 yen per unit from 19.299 billion yen or 2,231 yen per unit in the previous corresponding period.
Excluding profit from dispositions, net income was 2,173 per unit compared with 2,231 yen per unit last period.
Distributions per unit climbed to 2,489 per unit from 2,454 per unit in the previous period.
Ordinary income rose to 24.354 billion yen from 19.300 billion yen in the previous six-month period. Operating income grew to 26.694 billion yen from 21.217 billion yen.
Operating revenues increased 10.9% to 53.858 billion yen from 48.547 billion yen, driven by higher rental revenue and 5.192 billion yen in gains on sales of investment properties, compared with none in the previous six-month period.
Rental revenue rose to 45.275 billion yen from 44.809 billion.
For the second half, Nippon Building Fund expects total operating revenues of 50.502 billion yen, down 6.2% from the previous period. Operating income is projected at 22.704 billion yen, down 14.9%, while ordinary income and net income are each forecast to decline 18% to 19.968 billion yen.
The REIT expects distributions per unit of 2,465 yen.
For the fiscal period ending June 30, 2027, total operating revenues are forecast to increase 1% to 51.016 billion yen. Operating income is expected to rise 3.3% to 23.448 billion yen, while ordinary income and net income are projected to increase 2% to 20.363 billion yen each.
Distributions per unit are forecast at 2,541 yen.
In Tokyo, the company's shares closed up 0.55% at 129,100 yen.
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