Consolidated Financial Results for the First Quarter of Fiscal 2015 (April 1, 2015 - June 30, 2015)
Fiscal 2015 (Year ending March 31, 2016)
August 7, 2015

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 First Quarter (April 1, 2015 - June 30, 2015)(1) Consolidated financial results (Amounts less than one million yen, except for per share amounts, are omitted.)
Revenue from operations
Three months ended Jun. 30, 2015
Three months ended Jun. 30, 2014
(Reference) Fiscal 2014

Operating income

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

176,205
188,480
806,835(6.5)

41,26541,386
165,894(0.3)

36,84135,777139,055

3.0

23,736
22,57580,5665.1(8.4)
3.4(3.4)
3.4(2.2)
6.5

1.6
15.6

Notes 1: Comprehensive Income
Fiscal 2015, 1st quarter : 36,537 millions of yen (7.8%); Fiscal 2014, 1st quarter : 39,609 millions of yen 20.2%
2. Percentages represent changes compared with the first quarter of the previous year.

Diluted earnings pershareEarnings per share

Three months ended Jun. 30, 2015
Three months ended Jun. 30, 2014
(Reference) Fiscal 2014

YenYen50.08
47.63
169.97―――

Note: Average number of shares issued and outstanding (consolidated)
Fiscal 2015, 1st quarter : 473,997,371 shares; Fiscal 2014, 1st quarter : 474,023,347 shares(2) Consolidated financial position (Amounts less than one million yen, except for per share amounts, are omitted.)
Total assets

Shareholders' equity

Millions of yen

Millions of yen%

4,550,783
4,187,357
4,523,804

861,366
742,307
832,462

18.9
17.7
18.4

As of Jun. 30, 2015
As of Jun. 30, 2014
(Reference) Fiscal 2014

Shareholders' equity ratio

Note: Number of shares issued and outstanding (consolidated)
As of Jun. 30, 2015 : 473,994,164 shares; As of Jun. 30, 2014 : 474,020,443 shares

2. Dividend Position

Fiscal 2014
Forecast for Fiscal 2015

InterimDividends per share
Year end

Yen

Yen

Yen

10.00
11.00

11.00
11.00

21.00
22.00

Annual

3. Consolidated Business Forecasts for Fiscal 2015 (Year ending March 31, 2016)

Fiscal 2015

Revenue from operations

Operating income

Ordinary profit

Profit attributable toowners of parent

Millions of yen

Millions of yen

Millions of yen

Millions of yen

850,000

174,000

147,000

88,000Consolidated business forecasts announced on May 14, 2015 have not been revised.
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

LeasingSales
Construction
Brokerage
Other and Elimination/Corporate
Total(Millions of yen)Three months ended Three months ended
Jun. 30, 2014
Jun. 30, 2015
69,29775,11066,90055,09838,41530,379
11,962
13,456
1,904
2,161
188,480
176,205

Increase(Decrease)+5,812(11,801)(8,036)+1,493+256(12,275)

Forecast for
Fiscal 2015
300,000
290,000
190,000
63,0007,000
850,000

Achieved
(%)
25
19
16
21
21

Three months ended Three months ended
Jun. 30, 2015
Jun. 30, 2014
26,10529,484
15,114
11,630
1,447
126
1,625
3,185
(3,162)(2,906)
41,386
41,265

Increase(Decrease)+3,379(3,483)(1,321)+1,560(255)(121)

Forecast for
Fiscal 2015
110,000
44,00013,50020,000(13,500)
174,000

Achieved(%)
2726
11624

(2) Operating income

Leasing
Sales
Construction
Brokerage
Other and Elimination/Corporate
Total(Millions of yen)Consolidated Balance Sheets
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries

Millions of yen
June 30,
2015

AssetsMarch 31,2015

Current assets:Cash, time and notice deposits\134,497\151,367

Notes and accounts receivable―trade15,41827,597

Real estate for sale

162,744

189,770

Real estate for sale in process

644,836

604,455

Costs on uncompleted construction contracts

10,003

5,708

Other inventories

2,447

2,015

Deferred income taxes

9,887

10,824

Other current assets

37,84034,042(66)(78)

1,017,609

1,025,702

576,185

551,5102,268,962

2,259,845

Construction in progress

86,356

106,737

Other property and equipment, net

5,841

5,262

2,937,345

2,923,355

50,58553,075989

939

51,57454,015Investment securities

389,432

366,530

Guarantee and lease deposits paid to lessors

105,520

107,251

Deferred income taxes

13,61913,534

Other investments

47,54945,329Allowance for doubtful accounts(11,868)(11,914)

Total investment and other assets

544,253

520,731

Total fixed assets

3,533,174

3,498,101

Allowance for doubtful accounts
Total current assets
Fixed assets:
Property and equipment
Buildings and structures, net
Land

Total Property and equipment
Intangible assets
Leasehold rights
Other intangible assets
Total intangible assets
Investment and other assets

Total assets\4,550,783\4,523,804

Millions of yen
June 30,2015

Liabilities and Net AssetsMarch 31,
2015

Current liabilities:
Notes and accounts payable―trade\39,962\66,963

Short-term debt

102,818

87,000Long-term debt due within one year

322,619

320,862

Long-term non-recourse loans due within one year

103,572

60,927

Corporate bonds due within one year

40,00060,000Non-recourse bonds due within one year

15,0408,264

Accrued income taxes

11,007

26,518Deposits received

52,166

61,172

Accrued bonuses

901

3,725

94,174102,109782,262

797,543

Corporate bonds

410,000

380,000

Non-recourse bonds

29,10036,0601,758,170

1,735,356

293,059

338,558

131

197

5,353

5,433

Guarantee and lease deposits received

170,814168,273

Long-term deposits received

163,892

160,119

Other long-term liabilities

49,57942,724

Total long-term liabilities

2,880,102

2,866,722

Total liabilities

3,662,365

3,664,265

Capital122,805

122,805

Capital surplus

132,749

132,750

Retained earnings

510,892494,275

Treasury stock(4,275)(4,246)762,171745,584

Net unrealized holding gains on securities

101,203

88,798Net deferred losses on hedges(1,474)(1,615)

Foreign currency translation adjustments

(718)

(550)

Remeasurements of defined benefit plans

183

244

99,19486,877

27,051

27,076

888,418

859,538

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

Total shareholders' equity
Accumulated other comprehensive income (loss)

Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets\4,550,783\4,523,804

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

Millions of yen
Fiscal year ended June 30,
2015\Revenue from operations

2014

176,205\188,480

Cost of revenue from operations

121,650

132,996

Gross profit

54,55555,483

Selling, general and administrative expenses

13,29014,097

Operating income

41,26541,386

Interest and dividend income

2,819

2,524

Other non-operating income

145

94

2,964

2,618

Interest expense

6,189

6,549

Other non-operating expenses

1,198

1,677

7,387

8,22736,841

35,777

Gain on sale of property and equipment

903

Gain on sale of investment securities

86-

Reversal of allowance for doubtful accounts-

10

Other extraordinary income

-0176

13615

41-

12615

54

Income before income taxes and minority interests

36,40335,736

Income taxes

12,166

12,978

Profit24,23622,758499

182

Non-operating income

Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary profit
Extraordinary income

Total extraordinary income
Extraordinary losses
Loss on disposal of property and equipment
Other extraordinary losses
Total extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent\23,736\22,575

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

Millions of yen
Fiscal year ended June 30,
2015\Profit2014

24,236\22,758

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

12,421

17,789Net deferred gains (losses) on hedges

163

(290)

Foreign currency translation adjustments

(223)

(603)

Remeasurements of defined benefit plans

(59)

(44)

12,301

16,85036,53739,60936,05339,532483

77

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