April 26, 2013

Outline of Consolidated Financial Statements
For the Fiscal Year Ended March 31, 2013
Name of company listed :Nomura Real Estate Holdings, Inc.

Code number :3231

Shares traded :TSE (First section)

URL :http://www.nomura-re-hd.co.jp/english/index.html

Representative :Kamezo Nakai, President

IR contact :Daisuke Kitai, General Manager of Corporate Communications &Investor Relations Dept.
info@nomura-re-hd.com

Date of general meeting of shareholders :June 27, 2013

Scheduled starting date for dividend payments :June 28, 2013

Scheduled submitting date of annual securities report:

June 28, 2013

Preparation of explanatory materials for financial results :YesInformation Meetings Arranged Related to Financial Results :Yes (for institutional investors and analysts, in Japanese)

Note: The accompanying consolidated financial statements were not audited since they have been prepared only for reference purpose. All
statements were based on Tanshin report prepared in accordance with the provisions set forth in accounting regulations and principals
generally accepted in Japan.
(Values of less than one million yen rounded off.)1.

Consolidated operating results for the fiscal year from April 1 to March 31, 2013

(1) Consolidated business results(% indicates the rate of changes from previous fiscal year)
O perating revenue

O perating income%

Millions of y en

O rdinary income%

Millions of y en

Millions of y en

Net income%

Millions of y en%

FY 2012517,740

14.8

58,30816.8

45,80634.0

19,357

10.0

FY 2011450,807(6.3)

49,93918.7

34,17330.7

17,591

221.5(Reference) Comprehensive Income:From April 1 to March 31, 2013 ¥26,595 million (12.0%),
From April 1 to March 31, 2012 ¥23,739 million (114.7%)

Net income per shareafter adjusting fordilution

Return on equity

Ordinary income
margin on total
assetsOperating income
marginyenyen%%%

FY 2012101.61101.44

5.9

3.3

11.3

FY 2011

92.38

92.29

5.7

2.4

11.1

Net income
per share(Reference) Equity in Net Income of Affiliated Companies:

FY ended March 31, 2013 ¥ 2 million

1

FY ended March 31, 2012 ¥ 5 million

(2) Consolidated financial status
Total assets

Total shareholders'equity ratio

Net assets

Net assets per share

Millions of yen

Millions of yen%

yenMar. 31, 2013

1,369,949

398,27624.5

1,764.05

Mar. 31, 2012

1,402,624

376,48622.6

1,664.78(Reference) Shareholders’ Equity:

At March 31, 2013 ¥336,218 million

At March 31, 2012 ¥ 317,066 million(3) Consolidated cash flows
Cash flows fromoperating activities

2.

Cash flows frominvesting activities

Cash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

FY 201289,295(2,588)(94,666)

62,496

FY 201143,876

7,809(63,296)

70,456

Cash dividends per share
Cash dividends per share
1st quarterend

2nd quarterend

3rd quarter
end

Fiscal year
end

yen

3.

Cash and cash
equivalents

AnnualTotal
dividends paid(annual)Dividend
payout rate

Dividends ratio
on shareholders'equityyenyenM illions of yen%%

FY endedMar. 31, 2012

―

12.50

―

12.50

25.00

4,761

27.1

1.5

FY endedMar. 31, 2013

―

15.00

―

15.00

30.00

5,716

29.5

1.7

FY endingMar. 31, 2014
(Forecast)

―

15.00

―

15.00

30.00

***

27.2

***

Forecasts of consolidated operating results for the fiscal year from April 1, 2013 to March 31, 2014(% indicates the rate of changes from previous fiscal year or term)
Operating revenue
Millions of yen

FY endingMar. 31, 2014

520,000

Operating income%

Millions of yen

Ordinary income%

Millions of yen

65,00054,0002

Net income%

Millions of yen

22,000Net income per share%yenOther important indices / information(1) Significant changes to consolidated subsidiaries during the period: None
Number of consolidations: None (Company name: －)Elimination : None (Company name: －)(2) Changes in accounting basis, procedure and presentation for the consolidated financial statements
This information should be described in “Significant changes for presenting the consolidated financial statements”.
①

Changes in accounting principles: None②

Other changes: None③

Changes in accounting estimates: None④

Restatements: None

(4) Number of shares issued (common stock)
At March 31
2013
Number of shares outstanding(including treasury stock)
T reasury stock2012

190,595,500

190,456,900

1,125

1,016

From April 1 to March 31
2013
Average number of shares
during the term

2012

190,504,749

190,419,745

Implementation status of auditing procedure
The financial summary and the accompanying materials including the consolidated financial statements are not subject to the review
procedure by external auditors that are based on Financial Instruments and Exchange Act.
The review procedure has not yet finished at the point of releasing this financial summary.
Forward-Looking Statements
Certain statements other than historical facts in this document are forward-looking statements that reflect the company’s plans and estimates
based on currently available information. Therefore, the Company has no intention to promise the accomplishment of the forecasts. Thesestatements include known and unknown risks, uncertainties, and other factors that may cause the company’s actual future performance todiffer from the forward-looking statements contained herewith.
How to obtain Fact Sheets
The Fact Sheets will be disclosed on TDnet on April 26, 2013 and will be uploaded on the Company's website.

3Consolidated Balance Sheets(Values of less than one million yen rounded off.)(Millions of yen)
Assets

資産

Current Assets:

流動資産合計585,332

535,103

現金及び預金受取手形及び売掛金

45,45813,18742,49813,259

有価証券
販売用不動産25,000124,840

20,00061,290

仕掛販売用不動産

197,637

224,409

開発用不動産営業エクイティ投資

74,131
41,89583,60329,578

繰延税金資産その他

18,50544,86816,292
44,373

1 Cash and Deposits
2 Notes and Accounts Receivable-trade
3 Short-term Investment Securities
4 Real Estate for Sale
5 Real Estate for Sale in Process
6 Land Held for Development
7 Equity Investments
8 Deferred Tax Assets
9 Other
Allowance for Doubtful Accounts

March 31, 2012

貸倒引当金

March 31, 2013

(189)

(202)

固定資産合計817,292

834,845有形固定資産709,716

737,399

建物及び構築物

318,067

354,524

Accumulated Depreciation

減価償却累計額(96,388)(107,000)

Buildings and Structures, Net

建物及び構築物(純額)221,678

247,524

土地

471,901

483,759

その他
減価償却累計額
その他(純額)21,429(5,292)
16,136

12,060(5,945)6,115

無形固定資産投資その他の資産

9,857
97,717

9,406
88,039

投資有価証券
敷金及び保証金
繰延税金資産45,94923,621
24,69846,184
17,70921,030

その他
貸倒引当金

3,468
(19)

3,116
(1)

1,402,624

1,369,949

Noncurrent Assets:

1 Property, Plant and Equipment(１) Buildings and Structures(２) Land(３) Other
Accumulated Depreciation
Other, Net

2 Intangible Assets
3 Investments and Other Assets(１) Investment Securities(２) Lease and Guarantee Deposits(３) Deferred Tax Assets(４) Other
Allowance for Doubtful Accounts
Total Assets

資産合計

Liabilities

負債

Current Liabilities :流動負債合計

257,348

314,855

支払手形及び買掛金
短期借入金

36,351
148,242

49,347
167,585

未払法人税等
預り金

6,109
14,475

6,448
21,251

賞与引当金
役員賞与引当金

4,335
267

4,951
434

1 Notes and Accounts Payable-trade
2 Short-term Loans Payable
4 Income Taxes Payable
5 Deposits Received
6 Provision for Bonuses
7 Provision for Directors' Bonuses
8 Provision for Loss on Business Liquidation
9 Provision for Loss on Disaster10 Other
Noncurrent Liabilities :1 Bonds Payable
2 Long-term Loans Payable
3 Lease and Guarantee Deposits Received
4 Deferred Tax Liabilities
5 Deferred Tax Liabilities for Land Revaluation
6 Provision for Retirement Benefits
7 Provision for Loss on Subleasing Business
8 OtherMarch 31, 2012

事業整理損失引当金

March 31, 2013

76149

災害損失引当金
その他

413
47,076303
64,383

固定負債合計768,789

656,817

社債

33,00033,000

長期借入金
受入敷金保証金

577,319
55,642

468,683
55,189

繰延税金負債

72,31770,617

再評価に係る繰延税金負債
退職給付引当金

4,370
15,6184,537
15,291

転貸事業損失引当金

1,583

1,114

その他

8,936

8,384

1,026,138

971,673

Total Liabilities

負債合計

Net Assets

純資産

S hareholders' Equity:

株主資本合計312,907326,632

資本金115,625

115,728

資本剰余金
利益剰余金

92,955
104,328

93,057
117,848

1 Capital Stock
2 Capital Surplus
3 Retained Earnings
4 Treasury Stock
Other Comprehensive Income:1 Valuation Difference on Available-for-sale Securities
2 Deferred Gains or Losses on Hedges
3 Revaluation Reserve for Land
4 Foreign Currency Translation Adjustment

自己株式

(2)

(2)

その他の包括利益累計額合計

4,159

9,586

その他有価証券評価差額金繰延ヘッジ損益(2,039)
405

2,115
237

土地再評価差額金
為替換算調整勘定

6,625(831)

7,224
8

S ubscription Rights to S hares:

新株予約権

713

951

Minority Interests:

少数株主持分

58,706

61,106

Total Net Assets

純資産合計

Total Liabilities and Net Assets

負債・純資産合計

4376,486

398,276

1,402,624

1,369,949

Consolidated Statements of Income(Values of less than one million yen rounded off.)(Millions of yen)
Fiscal year ended March 312012

2013

AmountAmountⅠ Operating Revenue

営業収益450,807517,740

Ⅱ Operating Cost

営業原価335,896

383,169

営業総利益

114,910

134,571

販売費及び一般管理費

64,97076,263

営業利益

49,93958,308

営業外収益合計

1,757

4,122

受取利息
受取配当金
持分法による投資利益
その他

62
1,093
5
596

81
3,461
2
576

営業外費用合計

17,523

16,623

支払利息
その他

14,3293,194

12,541
4,081

経常利益

34,17345,806

特別利益合計517592

固定資産売却益
災害損失引当金戻入額
資産除去債務戻入益

217
299
-

335
256

9,722

11,405

減損損失

9,722

11,405

税金等調整前当期純利益

24,96834,993

法人税,住民税及び事業税
法人税等調整額
法人税等合計少数株主損益調整前当期純利益
少数株主利益10,918(10,091)826
24,141
6,549

11,546
1,685
13,231
21,762
2,405

当期純利益

17,591

19,357

Operating Gross Profit

Ⅲ S elling, General and Administrative Expenses
Operating Income

Ⅳ Non-operating Income
1234Interest Income
Dividends Income
Equity in Earnings of Affiliates
OtherⅤ Non-Operating Expenses
12Interest Expenses
OtherOrdinary Income

Ⅵ Extraordinary Income
123

Gain on Sales of Noncurrent Assets
Reversal of Provision for Loss on Disaster
Gain on Reversal of Asset Retirement Obligations

Ⅶ Extraordinary Losses
1

特別損失

Impairment Loss

Income before Income Taxes and Minority Interests
Income Taxes-current
Income Taxes-deferred
Total Income Taxes
Income before M inority Interests
M inority Interests in Income
Net Income

5Consolidated Statements of Comprehensive Income(Values of less than one million yen rounded off.)(Millions of yen)
Fiscal year ended March 31

Net income before Minority Interests

少数株主損益調整前当期純利益

Other Comprehensive Income

1
2
3
4

Valuation Difference on Available-for-sale Securities
Deferred Gains or Losses on Hedges
Revaluation Difference for Land
Share of Other Comprehensive Income of Associates Accounted

2013

AmountAmount24,141

21,762

その他の包括利益合計

(401)

4,833

その他有価証券評価差額金
繰延ヘッジ損益
土地再評価差額金
持分法適用会社に対する持分相当額(961)50
663
(154)

4,160
(167)
(0)
839

23,73926,595

17,187
6,551

24,1852,409

Comprehensive Income

包括利益(break down)(内訳）

Comprehensive Income Attributable to Owners of the Parent
Comprehensive Income Attributable to M inority Interests2012

親会社株主に係る包括利益
少数株主に係る包括利益

Consolidated Statements of Changes in Net Assets(Values of less than one million yen rounded off.)(Millions of yen)

Fiscal Year from April 1, 2011 to March 31, 2012
Fiscal Year from April 1, 2011 to March 31, 2012
S hareholders' Equity

Balance at April 1, 2011
Issuance of Common Stock
Cash Dividends PaidNet Income
Purchases of Treasury Stock
Reversal of Land Revaluation Reserve
Other Changes, Net
Total Changes During the Fiscal Year
Balance at March 31, 2012

Other Comprehensive Income
Valuationdifference
Foreign
Total
DeferredLandoncurrency
shareholde
gains/losses revaluation
availabletranslation
rs' equity
on hedges
reservefor-saleadjustments
securities

Commonstock

Additional
paid-in
capitalRetainedearnings

Treasurystock

115,574

92,90391,497(2)299,973(1,076)

354

5,961

(677)

51
－－－－－
51

51
－－－－－
51

－
(4,760)17,591－－－
12,831

－
－
－
(0)
－
－
(0)

103
(4,760)17,591(0)－－
12,934

－
－
－
－－
(963)
(963)

－－－
－
－
50
50

－－
－
－
－
663
663

－－－
－
－
(154)
(154)

115,625

92,955

104,328(2)

312,907(2,039)

405

6,625

(831)

S tockacquisitionrightsMinority
interests

4,562

646

52,183357,365

－
－
－－
－
(403)
(403)

－－
－
－
－
66
66

－－
－
－
－
6,523
6,523

103
(4,760)17,591(0)－
6,186
19,1204,159

713

58,706

376,486

S tockacquisitionrightsMinority
interests

Total

Totalnet
assetsFiscal Year from April 1, 2012 to March 31, 2013
Fiscal Year from April 1, 2012 to March 31, 2013
S hareholders' Equity

Balance at March 31, 2012
Issuance of Common Stock
Cash Dividends PaidNet Income
Purchases of Treasury Stock
Reversal of Land Revaluation Reserve
Other Changes, Net
Total Changes During the Fiscal Year
Balance at March 31, 2013

Other Comprehensive Income
Valuationdifference
Foreign
Total
DeferredLandoncurrency
shareholde
gains/losses revaluation
availabletranslation
rs' equity
on hedges
reservefor-saleadjustments
securities

Totalnet
assetsCommonstock

Additional
paid-in
capitalRetainedearnings

Treasurystock

115,625

92,955

104,328(2)

312,907(2,039)

405

6,625

(831)

4,159

713

58,706

376,486

102
－
－
－
－－
102

102
－
－
－
－
－
102

－
(5,238)19,357－(599)－
13,520

－
－
－
(0)
－
－
(0)

204
(5,238)19,357(0)(599)－
13,724

－
－
－
－
－
4,155
4,155

－
－
－
－
－
(167)
(167)

－－
－
－
－
598
598

－－
－
－
－
839
839

－
－
－
－
－
5,427
5,427

－
－
－－
－238
238

－－－－－
2,399
2,399

204
(5,238)19,357
(0)
(599)
8,065
21,789115,728

93,057

117,848(2)

326,632

2,115

237

7,224

8

9,586

951

61,106398,276

6TotalConsolidated Statements of Cash Flows(Values of less than one million yen rounded off.)(Millions of yen)
Fiscal year ended March 31

Cash Flows

2012

2013

I. Net Cash Provided by (Used in) Operating Activities
Income Before Income Taxes and M inority Interests

税金等調整前当期純利益

24,96834,993

Depreciation and Amortization

減価償却費

13,534

13,513

Impairment Loss減損損失

9,722

11,405

Loss (Gain) on Sales of Property, Plant and Equipment

固定資産売却損益

(217)

(335)

Equity in (Earnings) Losses of Affiliates

持分法による投資損益

(5)

(2)

Increase (Decrease) in Allowance for Doubtful Accounts

貸倒引当金の増減額

101

(5)

Increase (Decrease) in Provision for Retirement Benefits

退職給付引当金の増減額

(230)

(327)

Increase (Decrease) in Provision for Loss on Business Liquidation

事業整理損失引当金の増減額

(36)

72

Increase (Decrease) in Provision for Loss on Subleasing Business

転貸事業損失引当金の増減額

(419)

(468)

Increase (Decrease) in Provision for Loss on Disaster

災害損失引当金の増減額(2,194)(110)

Interest and Dividends Income

受取利息及び受取配当金(1,155)(3,543)

Interest Expenses

支払利息

14,32912,541

Decrease (Increase) in Notes and Accounts Receivable-trade

売上債権の増減額

1,083

(72)

Decrease (Increase) in Inventories

たな卸資産の増減額

36,529(2,314)

Decrease (Increase) in Equity Investments

営業エクイティ投資の増減額

6,699

12,316

Increase (Decrease) in Notes and Accounts Payable-trade

仕入債務の増減額(6,729)12,996

Increase (Decrease) in Deposits Received

預り金の増減額(14,812)

6,776

Other, Net

その他(9,002)

13,592

S ubtotal

小計

72,164

111,028

Interest and Dividends Income Received

利息及び配当金の受取額

1,396

2,557

Interest Expenses Paid

利息の支払額(14,327)(12,837)

Income Taxes Paid

法人税等の支払額(15,356)(11,452)

営業活動によ る キ ャ ッシュ ・ フロ ー

43,87689,295

(81)

(371)

Net Cash Provided by (used in) Operating Activities
II. Net Cash Provided by (Used in) Investment Activities
Purchase of Investment Securities

投資有価証券の取得による支出

Proceeds from Sales and Liquidation of Investment Securities

投資有価証券の売却及び清算による収入

3,846

392

Purchase of Property, Plant and Equipment and Intangible Assets

有形及び無形固定資産の取得による支出(14,098)(18,963)

Proceeds from Sales of Property, Plant and Equipment and Intangible Assets

有形及び無形固定資産の売却による収入

15,070

7,832

Payments of Loans Receivable

貸付けによる支出(3)(8)

Collection of Loans Receivable

貸付金の回収による収入

1724

Payments for Lease and Guarantee Deposits

敷金及び保証金の差入による支出(1,995)(995)

Proceeds from Collection of Lease and Guarantee Deposits

敷金及び保証金の回収による収入

3,614

6,830

Repayments of Lease and Guarantee Deposits Received

受入敷金保証金の返還による支出(4,101)(4,792)

Proceeds from Lease and Guarantee Deposits Received受入敷金保証金の受入による収入

2,515

3,893

Other, Net

その他

3,025

3,569

投資活動によ る キ ャ ッシュ ・ フロ ー

7,809

(2,588)7,000

Net Cash Provided by (Used in) Investment Activities
III. Net Cash Provided by (Used in) Financing Activities
Net Increase (Decrease) in Short-term Loans Payable

短期借入金の純増減額(20,500)

Increase (Decrease) in Commercial Papers

コマーシャル・ペーパーの増減額(20,000)-Repayments of Finance Lease Obligations

ファイナンス・リース債務の返済による支出

(162)

(195)

Proceeds from Long-term Loans Payable

長期借入れによる収入

Repayment of Long-term Loans Payable

長期借入金の返済による支出

Proceeds from Issuance of Common Stock
Proceeds from Stock Issuance to M inority Shareholders
Purchase of Treasury Stock

自己株式の取得による支出

Cash Dividends Paid

配当金の支払額

Cash Dividends Paid to M inority Shareholders

少数株主への配当金の支払額

98,39239,900(116,240)(136,193)

株式の発行による収入084

少数株主からの払込みによる収入

-5(0)

(0)

(4,760)(5,238)

(25)

(29)

Net Cash Provided by (Used in) Financing Activities

財務活動によ る キ ャ ッシュ ・ フロ ー(63,296)(94,666)

Ⅳ. Net Increase (Decrease) in Cash and Cash Equivalents

現金及び現金同等物の増減額(11,609)(7,959)Ⅴ. Cash and Cash Equivalents at Beginning of Period

現金及び現金同等物の期首残高

82,06570,456

Ⅵ. Cash and Cash Equivalents at End of Period

現金及び現金同等物の期末残高

70,45662,4967