Nippon Prologis REIT (TYO:3283) logged a 23% rise in net income to 15.4 billion yen in the six-month period ended May 31 from 12.5 billion yen a year ago.

The Reit's net income per unit increased to 1,821 yen from 1,473 yen, according to a Tokyo bourse filing on Thursday.

Operating revenues grew 11% to 34.6 billion yen in the six months, compared to 31.1 billion yen in the previous period.

The company declared distributions per unit, including surplus cash distributions, of 5,812 yen, with 5,521 yen attributable to retained earnings. Payments are scheduled to commence on Aug. 15.

For the period ending Nov. 30, the company forecasts net income of 15.1 billion yen, operating revenues of 35.1 billion yen, and distributions per unit of 1,900 yen.