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TYO:8439

2 stories mentioning TYO:8439Updated 1d ago

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Asia

OUE-Tokyo Century JV to Acquire Crowne Plaza Changi Airport in SG$500 Million Deal

Real estate and healthcare firm OUE (SGX:LJ3) and finance services provider Tokyo Century (TYO:8439) established a joint venture to acquire the Crowne Plaza Changi Airport from OUE Real Estate Investment Trust (SGX:TS0U) for SG$500 million, Tokyo Century said in a Wednesday release.Crowne Plaza Changi Airport is a 575-room hotel managed by IHG Hotels & Resorts, situated at Singapore Changi Airport's Terminal 3. The property comprises a 332-room main building and a 243-room extension, with direct connectivity to all airport terminals.The deal reflects OUE's and Tokyo Century's confidence in Singapore's tourism and aviation sectors, as well as the long-term growth prospects of Changi Airport, which comprises the planned Terminal 5 expansion, according to the release.Shares of OUE fell nearly 2% in recent trade, while those of OUE Real Estate Investment Trust added over 1%. In Tokyo, shares of Tokyo Century edged up nearly 1%.

SGX:LJ3SGX:TS0UTYO:8439
Asia

Tokyo Century's Full-Year Net Income Jumps 31%

Tokyo Century's (TYO:8439) net income attributable to owners of the parent surged 31% to 111.3 billion yen for the fiscal year ended March 31 from 85.3 billion yen a year earlier.The finance service company's earnings per share increased to 227.06 yen from 173.77 yen a year ago, according to a Tokyo bourse filing on Monday.Revenues climbed 6.5% to 1.458 trillion yen from 1.369 trillion yen in the prior year.In a separate disclosure, Tokyo Century raised its final dividend to 44 yen per share, from 36 yen per share, payable from June 26.For the fiscal year ending March 31, 2027, the company expects attributable profit of 123 billion yen, and basic EPS of 251.66 yen.Tokyo Century plans to pay interim and year-end dividends of 45.00 yen per share, each, for the year, which is higher than the amount paid in the year-ago period.

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