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Notice of Financial Results for the Third Quarter of the Fiscal Year Ending in March31, 2008

Last updated：January 31, 2008

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Today, NTT Urban Development Corporation announced the results of the consolidated financial results for the NTT Urban Development Group for the third quarter of the fiscal year ending in March 2008 (its 23rd fiscal period)?the period from April 1, 2007, to December 31, 2007.

Highlights

  • In the third quarter of the fiscal year ending March 31, 2008, consolidated net sales were \85,988 million (up 0.9% year on year). Operating income was \18,055 million (up 4.2% year on year). Recurring income was \16,082 million (up 3.8% year on year), and net income came to \9,279 million (up 5.6% year on year).
  • The leasing business segment achieved higher sales and income, owing to increased operation at new properties and improved rents at existing properties. Segment net sales came to \67,300 million (up 5.3% year on year), and operating income was \19,686 million (up 11.1% year on year).
  • In the residential property sales business segment, net sales were \12,134 million (down 9.0% year on year), owing to the concentration of sales of condominiums in the fourth quarter, third quarter segment operating income was \756 million (down 49.2% year on year).