February 5, 2014
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 nine months (from April 1, 2013 to December 31, 2013) of the fiscal year ending March 31, 2014 (referring the 29th business period). Please refer to Presentation Material for the 3rd Quarter of FY 2013 and Summary of Financial Statements for the 3rd Quarter of FY 2013.
- For the nine months of the fiscal year ending March 31, 2014, operating revenue reached ¥130.2 billion, an increase of ¥21.6 billion year on year. Operating income was ¥25.9 billion, increasing ¥2.0 billion, and ordinary income was ¥21.5 billion, increasing ¥1.7 billion. Net income stood at ¥17.7 billion, an increase ¥6.0 billion.
Results were almost on the line with the forecasts.
- In the Leasing Business, operating revenue reached ¥75.2 billion, rising ¥2.9 billion year on year, with a fall in rent income from existing properties more than offset by income, including rent income from new properties and sales of properties. Operating income stood at ¥23.3 billion, declining ¥1.3 billion year on year, mainly reflecting an increase in operating expenses associated with new properties and properties acquired.
- In the Residential Property Sales Business, operating revenue amounted to ¥45.5 billion, an increase of ¥19.7 billion year on year, and operating income was ¥5.7 billion, an increase of ¥3.4 billion, primarily reflecting an increase in the number of condominiums delivered, a rise in the average sale price, and other factors.