Consolidated Financial Results for the Second Quarter of Fiscal 2023 (April 1, 2023 - September 30, 2023)
Fiscal 2023 (Year ending March 31, 2024)

November 10, 2023

SUMITOMO REALTY & DEVELOPMENT CO., LTD.

Stock Exchange Listings
Securities Code
Location of Head OfficeURL

TSE Prime Market8830
Tokyo, Japan

https://www.sumitomo-rd.co.jp/english/

1. Results for Second Quarter (April 1, 2023 - September 30, 2023)(1) Consolidated financial results (Amounts less than one million yen, except for per share amounts, are omitted.)
Revenue from operations
Six months ended Sep 30, 2023
Six months ended Sep 30, 2022
(Reference) Fiscal 2022

Operating income

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%505,243474,871939,904

6.4

149,775
137,982
241,274

8.5

149,588
136,477
236,651

9.6

(1.3)
0.1

1.3
3.2

Profit attributable toowners of parent

2.9
5.1

Millions of yen%

105,924
94,050161,925

12.6

3.2
7.6

Notes 1: Comprehensive Income
Fiscal 2023, 2nd quarter : 168,102 millions of yen, 72.1%; Fiscal 2022, 2nd quarter : 97,653 millions of yen, (6.6%)
2: Percentages represent changes year on year.

Diluted earnings pershare

Earnings per share
Six months ended Sep 30, 2023
Six months ended Sep 30, 2022
(Reference) Fiscal 2022

YenYen223.50198.45341.66―――

Note: Average number of shares issued and outstanding (consolidated)
Fiscal 2023, 1H : 473,938,535 shares; Fiscal 2022, 1H : 473,938,805 shares(2) Consolidated financial position (Amounts less than one million yen, except for per share amounts, are omitted.)

As of Sep 30, 2023
As of Sep 30, 2022
(Reference) Fiscal 2022

Total assets

Shareholders' equity

Millions of yen

Millions of yen

Shareholders' equity ratio%

6,550,878
5,854,704
6,365,436

1,954,204
1,720,779
1,799,372

29.8
29.4
28.3

Note: Number of shares issued and outstanding (consolidated)
As of Sep 30, 2023 : 473,938,521 shares; As of Sep 30, 2022 : 473,938,663 shares

2. Dividend Position

Fiscal 2022
Forecast for Fiscal 2023

Interim

Dividends per share
Year end

Yen

Yen

Yen

24.00
29.00

28.00
30.00

52.00
59.00

Forecast for Fiscal 2023 announced on May 11, 2023 has not been revised.

Annual

3. Consolidated Business Forecasts for Fiscal 2023 (Year ending March 31, 2024)

Fiscal 2023

Revenue from operations

Operating income

Ordinary profit

Millions of yen

Millions of yen

Millions of yen

970,000

255,000

250,000

Consolidated business forecasts announced on May 11, 2023 have not been revised.

Profit attributable toowners of parent
Millions of yen

175,000

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 to various
arising in the future.

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

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

Leasing
Sales
Construction
Brokerage
Other and Elimination/Corporate
Total(Millions of yen)Six months ended
Sep 30, 2022
207,885
153,62275,661
36,2701,430
474,871

Six months ended
Sep 30, 2023
220,197
170,90375,41637,1491,577
505,243

Increase(Decrease)+12,311+17,281
(244)
+878
+146
+30,372

Forecast for
Fiscal 2023
445,000
225,000
220,000
77,0003,000
970,000

Achieved(%)
4976
3448－52

Six months ended
Sep 30, 2022
87,03647,071
2,854
9,991(8,970)137,982

Six months ended
Sep 30, 2023
89,15455,6483,846
10,508(9,381)
149,775

Increase(Decrease)+2,118+8,576+991+517(410)+11,793

Forecast for
Fiscal 2023
172,000
54,00023,00022,000(16,000)
255,000

Achieved(%)
52
103
1748
－59

(Millions of yen)Consolidated Balance Sheets
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries

Millions of yen
September 30,2023

AssetsMarch 31,2023

Current assets:
Cash and deposits\234,828\185,119

Accounts receivable―trade

19,83038,047

Real estate for sale351,987

399,244

Real estate for sale in process

396,181

381,753

Costs on uncompleted construction contracts

17,484

8,002

Other inventories

799

1,070

Other current assets

57,57573,659(22)(24)

1,078,663

1,086,872

Buildings and structures, net

1,239,834

1,265,357

Land

3,088,260

3,057,436

Construction in progress

137,082

126,591

Other property and equipment, net

14,634

15,0784,479,811

4,464,465

Leasehold rights

60,672

60,846

Other intangibles

2,972

2,446

63,64463,292

Investment securities

804,414628,396

Guarantee and lease deposits

66,301

67,043Net defined benefit asset

383

292

Deferred income taxes

12,854

13,249Other investments and other assets

45,70942,728

Allowance for doubtful accounts

(905)

(905)

Total investment and other assets

928,758

750,805

Total fixed assets

5,472,214

5,278,563

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

Total property and equipment
Intangibles

Total intangibles
Investment and other assets

Total assets\6,550,878\6,365,436

Millions of yen
September 30,2023

Liabilities and Net Assets

March 31,2023

Current liabilities:
Notes and accounts payable―trade\19,662\29,066

Short-term debt

26,63528,610Long-term debt due within one year

290,560

219,472

4,516

4,640

Commercial paper

255,000

180,000

Corporate bonds due within one year

130,000

70,000Accrued income taxes

46,22330,827

Deposits received

23,301

75,117

Provision for bonuses

4,138

4,924

Other current liabilities

204,391

198,870

1,004,428

841,527

Corporate bonds

240,000

250,000

Non-recourse bonds

35,60035,6002,757,582

2,898,052

Long-term non-recourse debt

249,445

251,647

Net defined benefit liability

5,432

5,534

250,718

254,008

Long-term deposits received

553

2,324

Other long-term liabilities

52,91327,368

Total long-term liabilities

3,592,245

3,724,536

Total liabilities

4,596,673

4,566,064

Long-term non-recourse debt due within one year

Total current liabilities
Long-term liabilities:

Long-term debt

Guarantee and lease deposits received

Net assets:
Shareholders' equity
Capital122,805

122,805

Capital surplus

104,153

104,153

Retained earnings

1,489,047

1,396,392(4,476)(4,476)

1,711,529

1,618,875

228,471

171,827

Net deferred gains (losses) on hedges

8,785

5,979

Foreign currency translation adjustments

5,402

2,659

Remeasurements of defined benefit plans

1630

Total accumulated other comprehensive income

242,675

180,497

Total net assets

1,954,204

1,799,372

Treasury stock
Total shareholders' equity
Accumulated other comprehensive income (loss)
Net unrealized holding gains on securities

Total liabilities and net assets\6,550,878\6,365,436

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

Millions of yen
Fiscal year ended September 30,
2023

Revenue from operations\2022

505,243\474,871

Cost of revenue from operations

320,424

304,254

Gross profit

184,819

170,616

Selling, general and administrative expenses

35,04332,633Operating income

149,775

137,982

Interest and dividend income

10,498

8,835

Other non-operating income

18782

10,6858,918Interest expense

9,103

8,699

Other non-operating expenses

1,770

1,724

10,873

10,423

149,588

136,477

Gain on sale of property and equipment

2,499

1

Gain on sale of investment securities

831

0

3,330

2

Loss on disposal of property and equipment

837

760

Loss on reduction of property and equipment

424－

Loss on sale of investment securities

557

3

Other extraordinary loss

2140

1,842

805

Income before income taxes

151,076

135,675

Income taxes

45,152

41,624

Profit105,924

94,050－－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 loss

Profit attributable to non-controlling interests
Profit attributable to owners of parent\105,924\94,050

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

Millions of yen
Fiscal year ended September 30,2023

Profit\2022

105,924\94,050

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

56,643(5,248)

Net deferred gains (losses) on hedges2,806

3,681

Foreign currency translation adjustments

2,742

5,021

Remeasurements of defined benefit plans

(14)

148

62,178

3,603

168,10297,653

168,10297,653－－

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