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Notice of Financial Results for the First Quarter of the Fiscal Year Ending in March31, 2009

Last updated：August 4, 2008

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NTT Urban Development Corporation (the Company) here by announces the consolidated operating performance of the NTT Urban Development Group for the first quarter of the fiscal year ending March 31, 2009 (from April 1, 2008, to June 30, 2008),its 24th business period.

Highlights

  • In the first quarter of the fiscal year ending March 31, 2009, consolidated net sales were ¥29,751 million (up 5.2% from the corresponding period of the preceding fiscal year). Operating income was ¥8,874 million (up 55.9%). Recurring income was ¥7,629 million (up 45.4%), and net income came to ¥4,382 million (up 44.0%).
  • The leasing business segment achieved higher sales and income, as a result of the Company making UDX Tokutei Mokuteki Kaisha(TMK) its consolidated subsidiary and improved rents at existing properties. Segment net sales came to ¥24,549 million (up 12.7%), and operating income was ¥9,239 million (up 46.3%).

    In the residential property sales business segment, net sales were ¥3,519 million (down 24.9%) and operating income was ¥482 million (up 74.8%). Although there was no sale of land lots, an increase in sales of condominiums contributed to operating income.