Last year's financial results of the three major real estate companies showed a decline in profits for two companies, Mitsui Fudosan and Mitsubishi Estate, due to the occupancy rate of hotels and commercial facilities declining due to the impact of the new coronavirus.
According to the group's financial results for the year ending March, announced by the three major real estate companies by the 14th, the final profit was 129.5 billion yen, a 29% decrease from the previous year for Mitsui Fudosan. Mitsubishi Estate's profit decreased by 8% to 135.6 billion yen.
On the other hand, Sumitomo Realty & Development dissolved its joint venture with a Chinese company and sold its shares, resulting in an increase of 0.3% to 141.3 billion yen.
Although the office building business was strong at each company, the occupancy rate of hotels and commercial facilities fell due to the impact of the new coronavirus, which put pressure on profits.
In this fiscal year's earnings forecast, although the impact of the new Corona will remain, all three companies are expecting an increase in profits, saying that profits will improve at commercial facilities and other facilities.
At the press conference on the 14th, Mitsui Fudosan's Managing Executive Officer Retsu Togashi said, "I feel that customers will come to the commercial facilities as long as they are not closed, but the demand for hotels is that if vaccination does not proceed, I don't think I'll be back. "