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Notice of Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2012

August 4, 2011

NTT Urban Development Corporation
(First Section of the Tokyo Stock Exchange:8933)

NTT Urban Development Corporation (head office: Chiyoda-ku, Tokyo, President and Chief Executive Officer: Masaki Mitsumura) announced the consolidated financial results for the NTT Urban Development Group (the Group) for the first quarter (from April 1, 2011 to June 30, 2011 of the fiscal year ending March 31, 2012 (referring the 27th business period.)Please refer to Presentation Material for the 1st Quarter of FY 2011 and Summary of Financial Statements for the 1st Quarter of FY 2011.



  • In the first quarter of the fiscal year ending March 31, 2012, consolidated operating revenue reached ¥28.1 billion, a decline of ¥3.7 billion year on year. Operating income was ¥6.1 billion, falling ¥0.8 billion, and ordinary income was ¥4.7 billion, declining ¥0.9 billion. Net income stood at ¥2.7 billion, a decline of ¥44 million. Results were mostly on a par with the forecasts.
  • In the Leasing Business segment, operating revenue reached ¥22.6 billion, falling ¥0.3 billion year on year, and operating income stood at ¥7.4 billion, an increase of ¥31 million, due primarily to income including rent from new properties and falling rent income from pre-existing properties.
  • In the Residential Property Sales Business segment, operating revenue amounted to ¥2.7 billion, a decrease of ¥4.3 billion year on year, and operating income was ¥97 million, a decrease of ¥0.8 billion, primarily reflecting a fall of condominium unit delivered and other factors.