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Notice of Financial Results for the 3rd Quarter of FY 2015

February 2, 2016

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 3rd quarter of FY 2015 (referring to the 31th business period from April 1, 2015 to December 31, 2015). Please refer to the Presentation Material for the 3rd Quarter of FY 2015and the Summary of Financial Statements for the 3rd Quarter of FY 2015.

Highlights

  • For the 3rd quarter of FY 2015 operating revenue reached ¥105.7 billion, an increase of ¥4.4 billion compared with the same period of the previous fiscal year. Operating income was ¥17.9 billion, an increase of ¥0.5 billion. Ordinary income was ¥15.2 billion, an increase of ¥1.3 billion. Profit* was ¥9.0 billion, a decrease of ¥0.6 billion, Profit attributable to owners of parent* was ¥7.8 billion, a decrease of ¥0.7 billion. Results were mostly in line with the full-year forecasts in terms of progress.
  • About Leasing Business, operating revenue was ¥68.3 billion, an increase of ¥3.6 billion year-on-year. Operating income was ¥17.2 billion, an increase of ¥0.2 billion, thanks to an expansion in revenues from improvement in the vacancy rate, which has continued from the previous fiscal year (ended March 31, 2015), and from sales of properties. Though the cost of Shinagawa Season Terrace.
  • In Residential Business, operating revenue was ¥28.9 billion, an increase of ¥1.1 billion compared with the same period of the previous fiscal year, and operating income was ¥3.9 billion, an increase of ¥0.8 billion, due to expansion in the number of condominium units delivered, and improvement in the profit margin by deliveries of Central Tokyo properties.

*: The Company have adopted “Revised Accounting Standard for Business Combination”, etc. and changed some account titles from the three months ended June 30, 2015 accordingly.

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