NTT URBAN DEVELOPMENT : Notice of Financial Results for the 1st Quarter of FY 2016

August 2, 2016

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: Sadao Maki) announced the consolidated financial results for the NTT Urban Development Group for the 1st quarter of FY 2016 (referring to the 32nd business period from April 1, 2016 to June 30, 2016). Please refer to the Presentation Material for the 1st Quarter of FY 2016 (4.62MB) and the Summary of Financial Statements for the 1st Quarter of FY 2016(190KB)

Highlights

• For the 1st quarter of FY 2016 operating revenue reached ¥33.2 billion, an increase of ¥6.5 billion compared with the same period of the previous fiscal year. Operating income was ¥5.2 billion, an increase of ¥1.3 billion, ordinary income was ¥4.4 billion, an increase of ¥1.3 billion, profit attributable to owners of parent was ¥2.8 billion, an increase of ¥0.6 billion.
  Results were mostly in line with the full-year forecasts in terms of progress.
• About Offices/Retail Business, operating revenue was ¥20.5 billion, an increase of ¥0.2 billion year-on-year. Operating income was ¥5.8 billion, an increase of ¥1.2 billion, thanks to an expansion in revenues from new buildings and improvement in income from Shinagawa Season Terrace.
• In Residential Business, operating revenue was ¥8.7 billion, an increase of ¥4.9 billion compared with the previous fiscal year, mainly reflected expansion in number of units delivered and share-outs to distribute risks. Operating income was ¥0.3 billion, an decrease of ¥0.1 billion, due to lost profits from sales of residential rental properties in FY2015 despite increase of operating income of residential property sales.