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Notice of Financial Results for the Three months of the Fiscal Year Ending March 31, 2014

August 2, 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: Sadao Maki) announced the consolidated financial results for the NTT Urban Development Group for the three months (from April 1, 2013 to June 30, 2013) of the fiscal year ending March 31, 2014 (referring the 29th business period).　Please refer to Presentation Material for the 1st Quarter of FY 2013 and Summary of Financial Statements for the 1st Quarter of FY 2013.

Highlights

  • For the three months of the fiscal year ending March 31, 2014, operating revenue reached ¥40.3 billion, a decrease of ¥1.1 billion year on year. Operating income was ¥10.4 billion, rising ¥0.1 billion, and ordinary income was ¥9.2 billion, increasing ¥0.1 billion. Although net income declined to ¥5.6 billion, decreasing ¥0.3 billion, this was attributable to profits in the United Kingdom, where corporate tax rate is low, made up a higher ratio of total earnings in the previous fiscal year.
    Results were mostly on a par with the forecasts.
  • In the Leasing Business, operating revenue reached ¥30.6 billion, rising ¥4.0 billion year on year, and operating income stood at ¥10.9 billion, an increase of ¥0.5 billion, with a fall in rent income from existing properties more than offset by income including rent income from new properties, and sales of properties and other factors.
  • In the Residential Property Sales Business, operating revenue amounted to ¥7.3 billion, a decrease of ¥3.7 billion year on year, and operating income was ¥0.8 billion, a decrease of ¥0.2 billion, primarily reflecting a fall in the number of condominiums delivered and other factors.

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