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Japan-Update

Japanese developer Hulic seen logging seventh straight record profit

Expanding rental space to help build on last year's growth

Hulic acquired a group of commercial properties in Osaka's Shinsaibashi commercial district last year.

TOKYO -- Hulic's pretax profit is likely to rise 10% in the year through December 2018, driven by growth in the Japanese real estate group's rental property base.

Group pretax profit is seen reaching about 68 billion yen ($614 million) to mark a seventh straight record year, based on last year's expected tally. Revenue from operations is likely to grow by around 10% from the 280 billion yen forecast for 2017.

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