Font Size

Notice of Financial Results for the Third Quarter of the Fiscal Year Ending March 31, 2011

Last updated:February 3, 2011

February 3, 2011

NTT Urban Development Corporation
(First Section of the Tokyo Stock Exchange: 8933)

NTT Urban Development Corporation (head office: Chiyoda-ku, Tokyo, President: Masaki Mitsumura) announced the consolidated financial results for the NTT Urban Development Group (the Group) for the third quarter (from April 1, 2010 to December 31, 2010) of the fiscal year ending March 31, 2011 (referring the 26th business period.) Please refer to Presentation Material for the 3rd Quarter of FY 2010 and Summary of Financial Statements for the 3rd Quarter of FY 2010.

Highlights

  • In the third quarter of the fiscal year ending March 31, 2011, consolidated net sales amounted to ¥104.5 billion (up ¥0.3 billion year on year), operating income was ¥21.2 billion (up ¥9.3 billion), ordinary income was ¥16.9 billion (up ¥9.3 billion), and net income was ¥9.0 billion (a net loss of ¥2.2 billion for the same period of the previous fiscal year). The forecast announced with the financial statements for the previous fiscal year on May 12 last year is not changed.
  • In the leasing business, net sales stood at ¥69.6 billion yen (down ¥4.5 billion year on year), and operating income was ¥22.9 billion yen (down ¥2.1 billion), with a rise in rent income reflecting the operation of new properties such as Otemachi 1-Chome Urban Area Redevelopment Project Type 1 more than offset by falls in rents of existing properties and the effect of the sale of properties in the previous fiscal year.
  • In the residential property sales business, net sales came to ¥27.0 billion (up ¥3.9 billion year on year), and operating income was ¥2.0 billion (an operating loss of ¥9.8 billion for the year-ago period), reflecting an decrease in the number of condominiums delivered, rise of the unit sales price and the sale of land and a condominium building.

Links