Consolidated Financial Results
for the Fiscal Year Ended March 31, 2017
(Based on Japanese GAAP)(Translation of Japanese Financial Flash Report, Released on May 9, 2017)
Company name: Sun Frontier Fudousan Co., Ltd.
Stock listing: Tokyo Stock Exchange 1st Section
Code number: 8934
URL: http://www.sunfrt.co.jp
Address: 14F, Toho Hibiya Building, 2-2, Yurakucho 1-chome, Chiyoda-ku, Tokyo 100-0006
Representative: Tomoaki Horiguchi, President
Inquiries: Yasushi Yamada, Managing Director(Phone: +81-3-5521-1301)*Amounts under one million yen have been rounded down.

1. Consolidated Performance in the Fiscal Year Ended March 31, 2017
(1) Operating results*Percentage figures shown under net sales, operating income, ordinary income, and net income columns indicate year-on-yearchanges for those items.
(Millions of yen, except for per share figures. The number in parentheses are increase rate)
Net Sales

Operating Income

Ordinary Income

FY ended March 31, 2017¥40,39431.9%¥9,38027.0%¥8,894

26.6%

FY ended March 31, 2016

¥30,625

10.4%¥7,38726.3%¥7,02425.6%Note) Comprehensive Income: FY Ended March, 2017: ¥6,601 million (18.9%) FY Ended March, 2016: ¥8,140 million (58.2%)
Net Income per Share(Yen)Net Income
FY ended March 31, 2017

¥6,452(20.9%)¥150.92

Fully Diluted
Net Income per Share(Yen)¥ －FY ended March 31, 2016
¥8,15761.4%¥190.78
Reference) Income on investments based on equity method: FY Ended March, 2017: (¥4 million)
FY Ended March, 2016: ¥8 million¥ －(2) Financial Position (at end of the term)(Millions of yen, except for per share figures)
Total Assets

Net Assets

Equity Ratio(%)

Net Assets perShare (Yen)FY ended March 31, 2017

¥63,654¥35,68656.0%¥834.40

FY ended March 31, 2016

¥54,084¥30,14455.7%¥704.92

Reference) Equity at term-end: FY ended March 31, 2017: ¥35,675 million
FY ended March 31, 2016: ¥30,139 million(3) Cash FlowsFY ended March 31, 2017
FY ended March 31, 2016

Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash Flows from
Financing Activities¥4,353(¥1,555)(¥4,764)¥123¥1,984¥3,607

1(Millions of yen)
Cash and CashEquivalents atYear-End¥14,871¥13,3752. Cash Dividends
Cash Dividends per Share (Yen)Net asset
Total Dividends Payout ratio
dividend rate
(Millions of yen) (Consolidated)(Consolidated)

1stquarter
period2ndquarter
period3rdquarter
periodYear end

Annualtotal

FY Ended March 31, 2016

-

¥0.00

-

25.00

25.00

1,068

13.1

4.0

FY Ended March 31, 2017

-

¥0.00

-

30.00

30.00

1,282

19.9

3.9

FY Ended March 31, 2018
(Projections)

-

¥0.00

-

32.00

32.00

19.5

3. Projections for Consolidated Performance in the Fiscal Year Ending March 31, 2018
(From April 1, 2017 to March 31, 2018)
Net Sales
FY EndingMarch 31, 2018

¥50,000

23.8%*Percentage figures indicate year-on year changes for those items.
(Millions of yen, except for per share figures)
Net Income
Operating Income
Ordinary Income
Net Income
per Share¥10,500

11.9%¥10,000

12.4%¥7,0008.5%¥163.72

4. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes
in scope of consolidation): None
New companies: —Excluded companies: —(2) Changes in accounting principles, procedures and presentation methods
1) Changes caused by revision of accounting standards: Yes
2) Changes other than those included in 1): None
3) Changes in accounting estimates: None
4) Restatement of corrections: None
(3) Number of shares issued and outstanding (common shares)
1) Number of shares issued and outstanding at the end of the period (including treasury stock):
FY ended March 31, 2017: 42,755,500 shares
FY ended March 31, 2016: 42,755,500 shares
2) Number of treasury stock at the end of period:
FY ended March 31, 2017: 143 shares
FY ended March 31, 2016: 143 shares3) Weighted average number of shares for the period:
FY ended March 31, 2017: 42,755,357 shares
FY ended March 31, 2016: 42,755,357 shares

2Reference: Overview of Non-consolidated Performance
1. Non-consolidated Performance in FY ended March 31, 2017(from April 1, 2016 to March 31, 2017)(1) Operating Results*Percentage figures shown in the net sales, operating income, ordinary income, and net income columns indicate year-on
year changes for those items.
(Millions of yen, except for per share figures)
Net Sales

Operating Income

Ordinary Income

Net Income

FY Ended March, 2017¥38,50429.9%¥9,28626.6%¥8,81826.6%¥6,366(21.7%)FY Ended March, 2016

¥29,631

18.5%¥7,33431.1%¥6,96530.0%¥8,131

64.6%

Net Incomeper Share (Yen)

Fully Diluted Net Incomeper Share (Yen)FY Ended March, 2017¥148.90-

FY Ended March, 2016¥190.19-(2) Financial Position(Millions of yen, except for per share figures)
Net Assets per Share
Equity Ratio (%)(Yen)

Total Assets

Net Assets

FY Ended March, 2017

¥62,363¥35,25256.5%¥824.52

FY Ended March, 2016

¥53,300¥29,95556.2%¥700.63

Reference: Equity at term-end: FY Ended March, 2017: ¥35,252 million
FY Ended March, 2016: ¥29,955 million※This Summary of Consolidated Financial Results is not subject to review processes under the Financial
Products and Exchange Law.
※Appropriate use of business forecasts; other special items
Business forecasts contained in this report are based on information available to the company on the dateof this report’s announcement and assumptions deemed reasonable. The company provides no assurance
that the forecasts will be achieved. Actual results may differ significantly from such forecasts due tounforeseen circumstances.

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