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Notice of Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2007

Last updated：July 31, 2006

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NTT Urban Development Corporation hereby announces its operating performance and the consolidated operating performance for the NTT Urban Development Group for the first quarter of the fiscal year ending March 31, 2007 (from April 1, 2006, through June 30, 2006).

Financial Highlights

  • During the first quarter of the fiscal year ending March 31, 2007, the Group's consolidated net sales totaled ¥26,562 million, up 22.4% compared with the first quarter of the preceding fiscal year. Operating income was ¥5,602 million (up 12.2%), recurring income was ¥5,234 million (up 22.4%) and net income was ¥3,070 million (up 78.0%).
  • In the leasing business segment, net sales rose 10.7%, to ¥20,792 million, benefiting from an increase in new property under operation, lower vacancies and an increase in rentable space at existing buildings. Operating income expanded 10.4%, to ¥6,014 million.
  • In the residential property sales business segment, net sales came to ¥3,326 million, up 131.8%, owing to an increase in the number of condominiums sold. Operating income grew 18.1%, to ¥358 million.