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Notice of Financial Results for the First Three Months of the Fiscal Year Ending March 2015

August 4, 2014

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 first three months of the Fiscal Year Ending March 31, 2015 (referring to the 30th business period from April 1, 2014 to June 30, 2014).　Please refer to Presentation Material for the 1st Quarter of FY 2014 and the Summary of Financial Statements for the 1st Quarter of FY 2014

Highlights

  • For the first three months of the fiscal year ending March 31, 2015, operating revenue reached ¥36.2 billion, a decrease of ¥4.0 billion compared with the same period of the previous fiscal year. Operating income was ¥6.2 billion, a decrease of ¥4.2 billion, and ordinary income was ¥5.2 billion, a decline of ¥4.0 billion. Net income stood at ¥3.5 billion, a decrease of ¥2.1 billion.
    Results were almost in line with the forecasts.
  • In the Leasing Business, operating revenue reached ¥21.1 billion, falling ¥9.4 billion compared with the same period of the previous fiscal year, and operating income stood at ¥5.8 billion, a decrease of ¥5.0 billion. These results mainly reflected that operating revenue of ¥8.3 billion and operating income of ¥4.5 billion from sales of properties were posted in the same quarter a year ago.
  • In the Residential Property Sales Business, operating revenue amounted to ¥12.8 billion, an increase of ¥5.5 billion compared with the same period of the previous fiscal year, and operating income was ¥1.5 billion, an increase of ¥0.7 billion, primarily reflecting an increase in the number of condominiums delivered, a rise in the average sales price, and other factors.

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