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Notice of Financial Results for the Fiscal Year Ended March 31, 2013 and Forecast for the Fiscal Year Ending March 31, 2014

May 9, 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 fiscal year ended March 31, 2013 (referring to the 28th business period from April 1, 2012 to March 31, 2013). For more details, please refer to Presentation Material for the FY 2012 and Summary of Financial Statements for the FY 2012. The Company also announced its results forecast for the fiscal year ending March 31, 2014.

Highlights

  • In the fiscal year ended March 31, 2013, consolidated operating revenue reached ¥163.1 billion (up ¥26.3 billion, or 19.2% year on year). Profits increased in every line, with operating income of ¥27.4 billion (up ¥2.0 billion, or 8.0%), ordinary income of ¥22.0 billion (up ¥2.7 billion, or 14.5%).
    Net income came to ¥12.0 billion (down ¥3.5 billion, or 22.5% year on year). This was primarily because of an increase in net income in the previous fiscal year, following the introduction of a law amending corporate tax rates.
    Results exceeded the initial forecasts in all items, and the financial targets (operating income of ¥26.0 billion and Net D/E ratio in the 2.3 range) in the medium-term management plan ended March 31, 2013 were achieved.
  • In the Leasing Business segment, operating revenue reached ¥94.5 billion, rising ¥3.4 billion year on year, and operating income stood at ¥29.2 billion, an increase of ¥1.7 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 ¥54.9 billion, an increase of ¥26.4 billion year on year, and operating income was ¥2.9 billion, an increase of ¥1.5 billion, primarily reflecting an increase in the number of condominiums delivered, the improvement of profit margin, and other factors.
  • With respect to the full-year results forecast (consolidated) for the fiscal year ending March 31, 2014, the Company anticipates operating revenue of ¥179.0 billion (up ¥15.8 billion, or 9.7%, year on year), operating income of ¥27.5 billion (up ¥90 million, or 0.4%), ordinary income of ¥22.1 billion (up ¥80 million, or 0.4%), and net income of ¥11.5 billion (down ¥0.5 billion, or 4.8%).
  • A meeting of the Board of Directors held today resolved to increase the year-end dividend for the fiscal year ended March 31, 2013 by ¥200, to ¥900 per share. As a result, the annual dividend will be ¥1,600 per share. For the fiscal year ending March 31, 2014, we will maintain the same dividends as in the fiscal year ended March 31, 2013. We also resolved to split one share of our common stock into 100 shares, with September 30, 2013 as the record date and, at the same time, to adopt the unit share system that will make the share unit 100 shares. For more details, please refer to“Announcement of Dividend of Surplus (Increased Dividend)”and “Notice of Stock Split, Adoption of Unit Share System, and Partial Amendment to the Articles of Incorporation” announced today.
  • The Company will aim for medium and long term growth by executing "Medium-Term Vision 2018 – For Further Growth –", our new medium-term vision.

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