August 3, 2017
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: Hiroshi Nakagawa) announced the consolidated financial results for the NTT Urban Development Group for the 1st quarter of FY2017 (referring to the 33rd business period from April 1, 2017 to June 30, 2017). Please refer to the Financial Results for the 1st Quarter of FY2017 and the Summary of Financial Statements for the 1st Quarter of FY2017.
- For the 1st quarter of FY2017 operating revenue reached ¥40.7 billion, an increase of ¥7.5 billion compared with the same period of the previous fiscal year. Operating income was ¥9.3 billion, an increase of ¥4.0 billion, ordinary income was ¥9.2 billion, an increase of ¥4.8 billion, profit attributable to owners of parent was ¥6.1 billion, an increase of ¥3.3 billion.
Results were mostly in line with the full-year forecasts in terms of progress.
- Regarding Offices/Retail Business, operating revenue was ¥23.4 billion, an increase of ¥2.8 billion year-on-year. Operating income was ¥9.6 billion, an increase of ¥3.7 billion as a result of posting transient compensation revenue from urban redevelopment projects as well as a contribution to revenue associated with the termination of free rent at Shinagawa Season Terrace.
- In Residential Business, operating revenue was ¥14.2 billion, an increase of ¥5.4 billion compared with the previous fiscal year, attributable to an increase in the number of condominiums delivered. Operating income was ¥1.0 billion, an increase of ¥0.6 billion.