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Hulic’s Profit to Beat Target on More Rental Space, CEO Says
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Hulic Co., Japan’s best-performing real estate company in the past six months, said it will beat its profit forecast after an increase in leasing space following a merger with Shoei Co. boosted rental income.
Tokyo-based Hulic, which has beaten net income forecasts for three consecutive years, will probably achieve higher profit for the year ending Dec. 31, Chief Executive Officer Saburo Nishiura said in an interview. The developer increased the total leasing space for office, apartments and nursing homes by 62 percent after acquiring Shoei in July, he said.