Consolidated Financial Results for the Third Quarter of Fiscal 2020 (April 1, 2020 - December 31, 2020)
Fiscal 2020 (Year ending March 31, 2021)

February 12, 2021

SUMITOMO REALTY & DEVELOPMENT CO., LTD.

Stock Exchange Listings
Securities Code
Location of Head Office
URL

TSE1
8830
Tokyo, Japan
http://www.sumitomo-rd.co.jp/english/

1. Results for Third Quarter (April 1, 2020 - December 31, 2020)(1) Consolidated financial results (Amounts less than one million yen, except for per share amounts, are omitted.)
Revenue from operations
705,852
768,061
1,013,512Ordinary profit%

Millions of yen%

Millions of yen%

(8.1)
0.7

179,425
184,173
234,332(2.6)
5.2

174,912
175,753
220,520(0.5)
6.2

Millions of yen

Nine months ended Dec 31, 2020
Nine months ended Dec 31, 2019
(Reference) Fiscal 2019

Operating income

0.1

6.8

Profit attributable toowners of parent

8.5

Millions of yen%

128,352
112,859
140,997

13.7
13.7

8.4

Notes 1: Comprehensive Income
Fiscal 2020, 3rd quarter : 187,017 millions of yen, 38.2%; Fiscal 2019, 3rd quarter : 135,369 millions of yen, 121.6%
2: Percentages represent changes compared with the 3rd quarter of the previous year.

Earnings per share
Nine months ended Dec 31, 2020
Nine months ended Dec 31, 2019
(Reference) Fiscal 2019

Diluted earnings pershare

Yen

Yen

270.82238.13297.50－－－Note: Average number of shares issued and outstanding (consolidated)
Fiscal 2020, 3rd quarter : 473,939,433 shares; Fiscal 2019, 3rd quarter : 473,939,984 shares(2) Consolidated financial position (Amounts less than one million yen, except for per share amounts, are omitted.)

As of Dec 31, 2020
As of Dec 31, 2019
(Reference) Fiscal 2019

Total assets

Shareholders' equity

Millions of yen

Millions of yen

Shareholders' equity ratio%

5,526,028
5,197,398
5,317,623

1,464,662
1,322,304
1,294,998

26.5
25.4
24.4

Note: Number of shares issued and outstanding (consolidated)
As of Dec 31, 2020: 473,939,326 shares; As of Dec 31, 2019 : 473,939,703 shares

2. Dividend Position

Fiscal 2019
Forecast for Fiscal 2020

Interim

Dividend per share
Year end

YenYen

Yen

16.00
19.00

19.00
21.00

35.00
40.00

AnnualDividend per share forecast for Fiscal 2020 announced on May 14, 2020 has been revised.

3. Consolidated Business Forecasts for Fiscal 2020 (Year ending March 31, 2021)
Revenue from operations
Fiscal 2020

Operating income

Ordinary profit

Millions of yen

Millions of yen

Millions of yen

900,000

213,000

200,000

Consolidated business forecasts announced on November 12, 2020 have not been revised.

Profit attributable toowners of parent
Millions of yen

140,000

Note: The foregoing estimates were based on information available as of the date this data was released, and actual results may differ from estimates due tovarious arising in the future.

4. Results of main segments(1) Revenue from operations

Leasing
Sales
Construction
Brokerage
Other and Elimination/CorporateTotal(2) Operating income

Leasing
Sales
Construction
Brokerage
Other and Elimination/Corporate
Total(Millions of yen)

Nine months ended
Dec 31, 2019
291,020
272,113148,286
53,9942,647
768,061

Nine months ended
Dec 31, 2020
297,941
232,486
126,026
48,036
1,361
705,852

Increase(Decrease)+6,920(39,626)(22,259)(5,957)(1,286)(62,209)

Forecast for
Fiscal 2020
390,000
270,000
180,000
60,000－900,000Achieved
(%)
76
86
7080－78

Nine months ended Nine months ended
Dec 31, 2019
Dec 31, 2020
125,859
121,433
45,48254,48912,1597,776
12,085
9,078(11,413)(13,351)
184,173
179,425

Increase(Decrease)(4,426)+9,007(4,383)(3,007)(1,937)(4,747)

Forecast for
Fiscal 2020
160,000
53,00012,0009,000(21,000)
213,000

Achieved
(%)
76
103
65
101
－84

(Millions of yen)

Note: From the beginning of fiscal 2020 (year ending March 31, 2021), the business segments for revenue and income from Sumitomo Real Estate Sales have been changed,
from the allocation to "Sales", "Brokerage" and "Adjustments (not presented in the document)", to be consolidated into "Brokerage". Financial results for the third quarter of fiscal
2019 (April 1, 2019-December 31, 2019) have been adjusted retroactively.

Consolidated Balance Sheets
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries

Millions of yen
December 31,
2020

AssetsMarch 31,2020

Current assets:Cash, time and notice deposits\142,759\195,360

Notes and accounts receivable―trade

12,831

17,405

Real estate for sale

227,866

351,368Real estate for sale in process

372,164

286,254

Costs on uncompleted construction contracts

14,276

10,369Other inventories

1,140

887

Other current assets

59,70254,447(46)(60)

830,695

916,034

Buildings and structures, net

1,099,473

1,036,339

Land

2,762,885

2,558,356

Construction in progress

115,066

133,716

Other property and equipment, net

13,073

11,842

3,990,499

3,740,255

Leasehold rights

60,021

55,823

Other intangible assets

2,011

1,738

62,032

57,561

Investment securities

529,268

469,229

Guarantee and lease deposits paid to lessors

68,79970,171

Deferred income taxes

12,28830,067

Other investments

34,52736,385

Allowance for doubtful accounts(2,082)(2,082)

Total investment and other assets

642,801

603,772

Total fixed assets

4,695,333

4,401,589

Allowance for doubtful accounts
Total current assets
Fixed assets:
Property and equipment

Total Property and equipment
Intangible assets

Total intangible assets
Investment and other assets

Total assets\5,526,028\5,317,623

Millions of yen
December 31,2020

Liabilities and Net Assets

March 31,2020

Current liabilities:
Notes and accounts payable―trade\17,803\36,392

Short-term debt

29,16526,726Long-term debt due within one year

176,946

131,471

Long-term non-recourse loans due within one year

10,94262,373

Commercial paper

126,000

120,000

Corporate bonds due within one year

10,000－Non-recourse bonds due within one year

1,000

8,000

Accrued income taxes

33,39932,343

Deposits received

25,982

51,195

Accrued bonuses

1,033

5,441

136,665

148,102568,937

622,045

Corporate bonds

260,000

270,000

Non-recourse bonds

36,10031,1002,616,696

2,572,156

266,394

219,082

26

47

6,242

6,269

Guarantee and lease deposits received

254,409247,609

Long-term deposits received

34,31145,895

Other long-term liabilities

18,247

8,417

Total long-term liabilities

3,492,428

3,400,578

Total liabilities

4,061,366

4,022,624

Capital122,805

122,805

Capital surplus

104,153

104,153

Retained earnings

1,113,633

1,002,633(4,474)(4,473)

1,336,118

1,225,119

Net unrealized holding gains on securities

136,60976,335Net deferred losses on hedges(4,341)(3,560)Foreign currency translation adjustments(3,681)(2,718)Remeasurements of defined benefit plans

(43)

(177)

Total accumulated other comprehensive income

128,543

69,879Total net assets

1,464,662

1,294,998

Other current liabilities
Total current liabilities
Long-term liabilities:

Long-term debt
Long-term non-recourse loans
Allowance for retirement benefits for directors
Net defined benefit liability

Net assets:
Shareholders' equity

Treasury stock
Total shareholders' equity
Accumulated other comprehensive income (loss)

Total liabilities and net assets\5,526,028\5,317,623

Consolidated Statements of Income
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries

Millions of yen
Fiscal year ended December 31,2020

Revenue from operations\2019

705,852\768,061

Cost of revenue from operations

475,532

520,910Gross profit

230,319

247,151

Selling, general and administrative expenses

50,89362,977

Operating income

179,425

184,173

Interest and dividend income

11,316

11,218Other non-operating income

1,406

386

12,723

11,605Interest expense

13,88014,417

Other non-operating expenses

3,355

5,607

17,23620,024

174,912

175,753

Gain on sale of property and equipment

536

0Gain on sale of investment securities

12,42075

Reversal of allowance for doubtful accounts

－

4,829

Other extraordinary income－

012,956

4,905

Loss on sale of property and equipment－348

Loss on impairment of fixed assets

－

9,660

Loss on disposal of property and equipment

1,064

1,366

Loss on devaluation of investment securities

1,582

57

Loss on sale of investment securities

206－

Loss related to COVID-19

629－Other extraordinary losses

418

3,524

11,441

Income before income taxes

184,344

169,218

Income taxes

55,991

56,358

Profit128,352

112,859－－Non-operating income

Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary profit
Extraordinary income

Total extraordinary income
Extraordinary loss

Total extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent\128,352\112,859

Consolidated Statements of Comprehensive Income
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries

Millions of yen
Fiscal year ended December 31,2020

Profit\2019

128,352\112,859

Other comprehensive income (loss)
Net unrealized holding gains (losses) on securities

60,274

22,249Net deferred gains (losses) on hedges

(780)

989

Foreign currency translation adjustments

(963)

(764)

Remeasurements of defined benefit plans

133

34

58,66422,509187,017

135,369

187,017

135,369－－

Total other comprehensive income (loss)
Comprehensive income
Comprehensive income attributable to:Owners of the parent
Non-controlling interests