17th Jul 2014 11:33
LONDON (Alliance News) - Japan Residential Investment Company Ltd Thursday said the value of its portfolio increased almost 35% to JPY45.85 billion at May 31 compared with JPY11.73 billion a year earlier.
In addition to valuation gains on properties held, Japan Residential said the portfolio value reflects the acquisition of nine properties between December and March with a combined purchase of JYP10.93 billion.
The company said most of its valuation gains were made in Nagoya followed by Tokyo and Osaka.
Japan Residential shares were quoted up 2.6% at 58.50 pence Thursday afternoon.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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