LogProstyle posted net income of JPY 759.96 million, up 0.8%, as revenue rose 7.6% to JPY 22.22 billion.
Operating income climbed 17.1% to JPY 1.57 billion; gross margin widened 2.6 percentage points to 19.8%.
Other expense increased 64.9% to JPY 320.38 million, driven by higher interest expense from higher average debt balances and rates.
Real estate revenue increased 9.5% to JPY 20.6 billion, helped by 7 condominium buildings sold to institutional buyers and land sales for the Sennen project.
Hotel revenue rose 4.9% to JPY 1.31 billion as ADR increased to about JPY 22,000; occupancy fell 10.2 percentage points to 64.5%.
LGPS•
