TOKYO -- Mitsui Fudosan and two other top real estate companies are expected to report all-time-high pretax profits for the April-December period, underpinned by a property boom triggered by the central bank's negative interest rate policy.
Mitsui Fudosan's pretax profit likely grew 10% on the year to around 160 billion yen ($1.39 billion), its third straight year of record earnings for the nine-month period. Sumitomo Realty & Development and Mitsubishi Estate also each likely saw pretax profits of around 130 billion yen, up 10-20% for their second year of record earnings in the period.
