TOKYO -- Three major real estate companies see their operating profits setting new highs in the current fiscal year through March 2017, buoyed by rising office rents in central Tokyo and strong sales of upmarket condos.
Sumitomo Realty & Development looks to generate a group operating profit of around 180 billion yen ($1.69 billion), up 3% from the estimate for fiscal 2015. Two new large office buildings, including Shinjuku Garden Tower, are expected to contribute to earnings.
