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Japan-Update

Rent income keeps Japanese rail operators on growth track

Mixed residential-commercial properties lift a few to record April-Dec results

The Futako Tamagawa Rise residential and commercial complex in Tokyo contributed to rail operator Tokyu's 14% gain in net profit.

TOKYO -- Property-rich private railroad operators in Japan relied on office buildings and mixed-use developments to increase profits for the nine months ended Dec. 31 as their hotels saw slower foreign-tourist-driven growth.

Ten of the country's 14 big listed railway groups reported higher net profit for the period than a year earlier. Japan Railways group members -- the country's bullet train operators -- are considered separate, though some are listed companies.

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