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Japan-Update

Sumitomo Realty profit seen rising to interim record

Building rentals soar on office demand in Tokyo; condo sales also provide boost

TOKYO -- Sumitomo Realty & Development appears to have lifted pretax profit to just over 100 billion yen ($879 million) in the April-September period, up roughly 10% on the year and an interim record for the second straight year.

Sales for the period likely rose 6% to around 500 billion yen. Rental income from newly opened office buildings and existing properties added to earnings, while condo sales

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