Mitsui Fudosan's profit falls on a tough comparison — but its property businesses just posted record profit
A year-earlier flurry of property sales makes Mitsui Fudosan's Q1 headline numbers look weak, but strip that comparison out and its leasing, management and facility-operations businesses all just posted their best first quarter on record.
Mitsui Fudosan's revenue and operating profit both fell sharply in its fiscal first quarter, the developer said in results released today, but the drop traces to an unusually strong comparison: the same quarter a year earlier included a round of property sales that will not repeat every year.