Mitsui Fudosan will sell any property to boost capital efficiency: exec

Japanese developer sees hotel business getting lift from foreign tourists

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Chiharu Fujioka, Mitsui Fudosan's executive managing officer, told Nikkei that rising interest rates won't impact the company in the short term. (Photo by Naoyuki Toyama) 

NAOYUKI TOYAMA, Nikkei staff writer

TOKYO -- Japanese real estate developer Mitsui Fudosan plans to seek sustainable growth while improving capital efficiency by selling any of its properties if the time is right, Executive Managing Officer Chiharu Fujioka, who oversees accounting, told Nikkei in a recent interview.

The developer aims to achieve record profit for the third consecutive fiscal year. When asked about his company's earnings goals for the current fiscal year, Fujioka said that hotel sales might exceed goals thanks to the increase in foreign tourists.

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