Mitsubishi Estate Co. said Tuesday its nine-month profit fell 13 percent on rising building costs for offices.
Net income declined to ¥43.5 billion, or ¥31.53 a share, in the nine months to Dec. 31, from ¥50.1 billion, or ¥36.25, in the year-earlier period. Sales fell 21 percent to ¥485 billion, the company said.
The company, Japan's largest developer by market value, repeated its net income forecast for the full year of ¥85 billion on revenue of ¥789 billion.