Nomura Real Estate's first-quarter profit falls 31% on fewer condo handovers, but full-year guidance and dividend growth hold
Nomura Real Estate's operating profit fell 31% in the June quarter as fewer condominiums were handed over to buyers, but the developer left its full-year forecast untouched and extended dividend growth to a 15th straight year — treating the dip as calendar, not trend.
Nomura Real Estate Holdings reported operating profit of ¥25.5 billion for the three months to June 2026, down just over 30% from ¥36.8 billion a year earlier, as the Tokyo-based developer delivered fewer condominium units to buyers than in the same quarter last year, according to results the company released on 30 July.