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Notice of Financial Results for the Fiscal Year Ended March 31, 2012 and Forecast for the Fiscal Year Ending March 31, 2013

May 9, 2012

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 consolidated financial results for the NTT Urban Development Group for the fiscal year ended March 31, 2012 (referring to the 27th business period from April 1, 2011 to March 31, 2012). For more details, please refer to Presentation Material for the FY 2011 and the Summary of Financial Statements for the FY 2011. The Company also announced its results forecast for the fiscal year ending March 31, 2013.

Highlights

  • In the fiscal year ended March 31, 2012, consolidated operating revenue declined to ¥136.8 billion (down ¥8.8 billion, or 6.1%, year on year). However, profits increased in every line, with operating income of ¥25.3 billion (up ¥1.0 billion, or 4.3%), ordinary income of ¥19.2 billion (up ¥0.6 billion, or 3.6%), and net income of ¥15.5 billion (up ¥6.2 billion, or 67.5%) in light of the change in the corporate tax rate and other factors.
  • In the Leasing Business segment, operating revenue reached ¥91.0 billion, falling ¥1.5 billion year on year and operating income stood at ¥27.4 billion, a decrease of ¥1.7 billion. This is due to falls in rent income of pre-existing properties and other factors which offset profits generated by rent income from new properties and other factors.
  • In the Residential Property Sales Business segment, operating revenue amounted to ¥28.4 billion, a decrease of ¥13.2 billion year on year, reflecting a fall in the number of condominiums delivered. However, operating income reached ¥1.3 billion, an increases of ¥0.8 billion, primarily due to the improvement of operating margin in condominium business.
  • With respect to the full-year results forecast (consolidated) for the fiscal year ending March 31, 2013, the Company anticipates operating revenue of ¥155.0 billion (up ¥18.1 billion, or 13.3%, year on year), operating income of ¥26.0 billion (up ¥0.6 billion, or 2.5%), ordinary income of ¥19.8 billion (up ¥0.5 billion, or 3.0%), and net income of ¥10.4 billion (down ¥5.1 billion, or 33.3%). Despite the difficult business environment, the Company will aim to increase revenue and achieve its operating income target of ¥26.0 billion under NTT Urban Development Group Medium-Term Management Plan 2012.
  • At a meeting of the Board of Directors held on May 9, 2012, the Company resolved to increase its year-end dividend per share for the fiscal year ended March 31, 2012 by ¥200, to ¥800. As a result, the annual dividend will be ¥1,400 per share. The Company plans to pay an annual dividend of ¥1,400 per share for the fiscal year ending March 31, 2013, as in the fiscal year ended March 31, 2012.
    For further information, please refer to today’s Announcement of Dividend of Surplus (Increased Dividend).
  • NTT Urban Development Group will continue to make efforts to increase its corporate value by securing stable profits while anticipating changes in the business environment.

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