May 9, 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 fiscal year ended March 31, 2014 (referring to the 29th business period from April 1, 2013 to March 31, 2014). Please refer to Presentation Material for the FY 2014 and the Summary of Financial Statements for the FY 2014. The Company also announced its results forecast for the Fiscal Year Ending March 31, 2015.
- For the fiscal year ended March 31, 2014, operating revenue reached ¥189.1 billion, an increase of ¥26.0 billion year on year. Operating income was ¥30.4 billion, increasing ¥3.0 billion, and ordinary income was ¥24.8 billion, increasing ¥2.8 billion. Net income stood at ¥11.3 billion, a decrease ¥0.7 billion. This was primarily due to gains and losses on sales of non-current assets and income taxes.
- In the Leasing Business, operating revenue reached ¥96.5 billion, rising ¥2.0 billion year on year, mainly reflecting the sale of properties. Operating income stood at ¥27.1 billion, declining ¥2.0 billion year on year, reflecting a decrease from existing properties due to an increase in vacancies, among other factors.
- In the Residential Property Sales Business, operating revenue amounted to ¥79.5 billion, an increase of ¥24.5 billion year on year, and operating income was ¥8.2 billion, an increase of ¥5.3 billion, primarily reflecting an increase in the number of condominiums delivered, a rise in the average sale price, and other factors.
- With respect to the full-year results forecast (consolidated) for the fiscal year ending March 31, 2015, the Company anticipates operating revenue of ¥148.0 billion (down ¥41.1 billion, year on year), operating income of ¥20.0 billion (down ¥10.4 billion), ordinary income of ¥14.5 billion (down ¥10.3 billion), and net income of ¥8.0 billion (down ¥3.3 billion).
- The Group will continue to closely monitor changes in the business environment going forward and will improve corporate value.