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Notice of Financial Results for the Nine months of the Fiscal Year Ending March 31, 2013

February 4, 2013

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 nine months (from April 1, 2012 to December 31, 2012) of the fiscal year ending March 31, 2013 (referring the 28th business period).Please refer to Presentation Material for the 3rd Quarter of FY 2012 and Summary of Financial Statements for the 3rd Quarter of FY 2012.

Highlights

  • For the nine months of the fiscal year ending March 31, 2013, operating revenue reached ¥108.6 billion, an increase of ¥13.1 billion year on year. Operating income was ¥23.8 billion, rising ¥3.6 billion, and ordinary income was ¥19.7 billion, increasing ¥4.0 billion. Although net income declined to ¥11.6 billion, decreasing ¥2.5 billion, this was attributable to an increase of ¥5.8 billion in net income after subtracting minority interests in income during the nine months of the previous fiscal year as a result of posting minus ¥8.3 billion as income taxes-deferred (credit side) by reversing a portion of deferred tax assets and deferred tax liabilities in light of the revision of the corporate tax rate.
    Results were mostly on a par with the forecasts.
  • In the Leasing Business segment, operating revenue reached ¥72.3 billion, rising ¥3.9 billion year on year, and operating income stood at ¥24.7 billion, an increase of ¥2.6 billion, with a fall in rent income from existing properties more than offset by income including rent income from new properties, and sales and penalty income from office buildings in London, United Kingdom.
  • In the Residential Property Sales Business segment, operating revenue amounted to ¥25.8 billion, an increase of ¥10.5 billion year on year, and operating income was ¥2.2 billion, an increase of ¥1.4 billion, primarily reflecting an increase in the number of condominiums delivered, a rise in the average sales price, and other factors.

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