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Notice of Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2007

Last updated：February 1, 2007

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NTT Urban Development Corporation hereby announces the consolidated financial results for the NTT Urban Development Group for the first three quarters of the fiscal year ending March 31, 2007 (from April 1, 2006, to December 31, 2007), its 22nd fiscal period.

Highlights

  • During the first three quarters of the fiscal year ending March 31, 2007, the Group posted improvements in all earnings and income categories. Consolidated net sales totaled ¥85,198 million up 11.9% compared with the first three quarters of the preceding fiscal year. Operating income was ¥17,324 million (up 11.2%), recurring income was ¥15,487 million (up 14.9%), and net income was ¥8,789 million, up 12.3%.
  • In the leasing business segment, net sales expanded 10.5%, to ¥63,892 million, benefiting from increases in new buildings under operation and a rise in rentable space at existing buildings. Segment operating income rose 10.4%, to ¥17,726 million.
  • In the residential property sales business segment, net sales came to ¥13,337 million, up 8.1%. Segment operating income, however, fell 8.8%, to ¥1,490 million, owing to the fourth-quarter concentration of condominium sales forecast for the second half of the fiscal year.