August 3, 2018
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 FY2018 (referring to the 34th business period from April 1, 2018 to June 30, 2018). Please refer to the Financial Results for the 1st Quarter of FY2018 and the Summary of Financial Statements for the 1st Quarter of FY2018.
- In consolidated financial results for the 1st quarter of FY2018 (IFRS), operating revenue was ¥29.9 billion (down ¥10.2 billion) and operating income was ¥9.9 billion (decrease ¥2.5 billion), profit attributable to owners of parent was ¥6.0 billion (decline ¥1.6 billion). Results were mostly in line with the annual forecasts in terms of progress.
- Regarding Offices/Retail Business, operating revenue was ¥22.3 billion (down ¥1.2 billion). Operating income was ¥11.3 billion (decrease ¥0.8 billion). Revenue and income increased in the base businesses that are not subject to transient impacts, reflecting contribution to revenue mainly due to the completion and acquisition of new properties.
- In the Residential business, operating revenue was ¥3.4 billion (down ¥10.0 billion) and operating loss was ¥0.3 billion (decrease ¥1.8 billion), respectively, reflecting a decline in the number of condominium units delivered because there were no newly completed properties.