United Urban Investment Corporation DPU Down 10% In End-November 2020
January 18, 2021 – United Urban Investment Corporation announced a 10% decline in its DPU from end-May 2020 to end-November 2020 as the restrictions brought about by the pandemic continued to affect the Japanese economy.
In its report, United Urban said its DPU in end-November hit 3,119 yen from the 3,470 yen in the previous fiscal period of end-May. It, however, reported a 0.2% rise in its net income from 0.63 billion yen to 9.65 billion yen in end-November.
“While the declaration of the state of emergency was lifted in May 2020, a path for the normalization of the Japanese economy is still embedded with uncertainty due to the second wave of the COVID-19 spread in summer and the third wave in fall and onward. There is some good news including the development of the COVID-19 vaccine, but there are also issues to be addressed regarding vaccine production, distribution, inoculation and others. It takes a while to solve these issues, thus the Japanese economy will likely continue to struggle going forward,” Urban United said.
“United Urban’s portfolio is almost fully diversified, but it is forecast that the impact of COVID-19 will continue in the operation of United Urban as the virus spread persists around the globe and the economic slowdown prolongs,” it added.
Read full statement here..