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Notice of Financial Results for the 2nd Quarter of FY 2016

November 8, 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 2nd quarter of FY 2016 (referring to the 32nd business period from April 1, 2016 to September 30, 2016). Please refer to the Financial Results for the 2nd Quarter of FY 2016 and the Summary of Financial Statements for the 2nd Quarter of FY 2016.

Highlights

  • For the 2nd quarter of FY 2016 operating revenue reached ¥68.5 billion, a decrease of ¥2.6 billion compared with the same period of the previous fiscal year. Operating income was ¥11.3 billion, a decrease of ¥0.9 billion, ordinary income was ¥9.7 billion, a decrease of ¥0.7 billion, profit attributable to owners of parent was ¥6.2 billion, an increase of ¥0.5 billion.
    Results were mostly in line with the full-year forecasts in terms of progress.
  • Regarding Offices/Retail Business, operating revenue was ¥41.6 billion, a decrease of ¥1.8 billion year-on-year. Despite the loss of sales revenue and the rental revenue from the commercial properties sold in the previous fiscal year, operating income was ¥12.3 billion, an increase of ¥1.9 billion, thanks to an expansion in revenues from new buildings and improvement in income from Shinagawa Season Terrace.
  • In Residential Business, operating revenue was ¥19.2 billion, a decrease of ¥2.8 billion compared with the previous fiscal year, mainly reflected the decline in the number of units delivered albeit an increase in sales by share-outs for the purpose of risk diversification.. Operating income was ¥1.2 billion, a decrease of ¥2.8 billion.

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