Consolidated Financial Results for Fiscal 2022 (Year ended March 31, 2023)
May 11, 2023

SUMITOMO REALTY & DEVELOPMENT CO., LTD.

Stock Exchange Listings
Securities CodeLocation of Head OfficeURL

TSE Prime Market8830
Tokyo, Japan

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

1. Results of Fiscal 2022 (Year ended March 31, 2023)(1) Consolidated financial results (Amounts less than one million yen, except for per share amounts, are omitted.)
Revenue from operations%

Millions of yen

Fiscal 2022
Fiscal 2021

Operating income

939,904
939,430

Ordinary profit%

Millions of yen0.1

241,274
233,882

2.4%

Millions of yen

3.2

236,651
225,115

6.7

5.1
7.2

Profit attributable toowners of parent
Millions of yen

161,925
150,452

%

7.6
6.4

Notes 1: Comprehensive Income
FY 2022: 187,599 millions of yen, 23.9%; FY 2021 : 151,408 millions of yen, (32.8%)
2: Percentages represent changes compared with the previous year.

Fiscal 2022
Fiscal 2021

Ratio of ordinary
profit to averageassetsReturn on average
equityEarnings per share

Operating income
marginYen%%%341.66317.45

9.4
9.6

3.9
3.925.7
24.9

Note: Average number of shares issued and outstanding (consolidated)
FY 2022 : 473,938,725 shares; FY 2021 : 473,939,017 shares(2) Consolidated financial position (Amounts less than one million yen, except for per share amounts, are omitted.)
Total assets
Fiscal 2022
Fiscal 2021

Shareholders' equity

Shareholders' equity ratio

Shareholders' equity
per share

Millions of yen

Millions of yen%

Yen

6,365,436
5,806,040

1,799,372
1,634,049

28.3
28.1

3,796.64
3,447.81

Note: Number of shares issued and outstanding (consolidated)
As of Mar 31, 2023 : 473,938,547 shares; As of Mar 31, 2022 : 473,938,956 shares

2. Dividend Position
InterimFiscal 2022
Fiscal 2021
Forecast for Fiscal 2023

Dividend per share
Year end

AnnualAmount of dividend(Annual)Dividend payout ratio(Consolidated)

Dividend on equity ratio(Consolidated)

Yen

Yen

Yen

Millions of yen%%

24.00
22.00
29.00

28.00
23.00
30.00

52.00
45.00
59.00

24,644
21,327

15.2
14.2
16.0

1.4
1.4

3. Forecast 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

Profit attributable toowners of parent
Millions of yen

175,000

Note: The foregoing estimates are 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(Millions of yen)

Fiscal 2021

Fiscal 2022

425,081
233,788
204,361
73,484
2,714
939,430

425,368
222,077
213,584
75,107
3,767
939,904(2) Operating income

Leasing
Sales
Construction
Brokerage
Other and Elimination/Corporate
Total

Increase(Decrease)+286(11,711)+9,222+1,623+1,052+473

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

Increase(Decrease)+19,631+2,922+6,415+1,892―+30,095

Increase(Decrease)+3,043+3,442+2,898+2,005(3,998)+7,391

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

Increase(Decrease)+6,306+71+1,578+1,969―+13,725(Millions of yen)

Fiscal 2021

Fiscal 2022

162,649
50,485
18,52318,025(15,801)
233,882

165,693
53,92821,421
20,030(19,799)
241,274

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

Millions of yen
March 31,2023

AssetsMarch 31,2022

Current assets:
Cash and deposits\185,119\151,392

Accounts receivable―trade

38,04723,285

Real estate for sale399,244

308,155

Real estate for sale in process

381,753394,921

Costs on uncompleted construction contracts

8,002

8,210

Other inventories

1,0701,163

Other current assets

73,65954,447(24)(43)

1,086,872

941,534

Buildings and structures, net

1,265,357

1,114,725

Land

3,057,436

2,847,702

Construction in progress

126,591

139,859

Other property and equipment, net

15,07812,0284,464,465

4,114,316

Leasehold rights

60,84661,802Other intangibles

2,446

2,191

Total intangibles

63,292

63,994

Investment securities

628,396

573,503

Guarantee and lease deposits

67,043

66,993Net defined benefit asset

292

257

Deferred income taxes

13,24911,456

Other investments and other assets

42,72834,641

Allowance for doubtful accounts

(905)

(658)

Total investments and other assets

750,805

686,194

5,278,563

4,864,505

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

Total property and equipment
Intangibles

Investments and other assets

Total fixed assets
Total assets\6,365,436\5,806,040

Millions of yen
March 31,2023

Liabilities and Net Assets

March 31,2022

Current liabilities:
Notes and accounts payable―trade\29,066\42,307

Short-term debt

28,61028,610Long-term debt due within one year

219,472

237,385

4,640

4,786

Commercial paper

180,000

40,000

Corporate bonds due within one year

70,000－Accrued income taxes

30,827

40,144

Deposits received

75,11755,155

Provision for bonuses

4,924

5,803

Other current liabilities

198,870

185,836

Total current liabilities

841,527

640,029

Corporate bonds

250,000

290,000

Non-recourse bonds

35,60035,6002,898,052

2,667,324

Long-term non-recourse debt

251,647

256,287

Net defined benefit liability

5,534

5,796

254,008249,275

Long-term deposits received2,324

8,764

Other long-term liabilities

27,36818,912

Total long-term liabilities

3,724,536

3,531,960

4,566,064

4,171,990

Long-term non-recourse debt due within one year

Long-term liabilities:

Long-term debt

Guarantee and lease deposits received

Total liabilities
Net assets:
Shareholders' equity
Capital122,805

122,805

Capital surplus

104,153

104,153

Retained earnings

1,396,392

1,256,742(4,476)(4,475)

1,618,875

1,479,226

171,827

155,863

Net deferred gains (losses) on hedges

5,979

704

Foreign currency translation adjustments

2,659(1,449)

Remeasurements of defined benefit plans

30(294)

180,497

154,823

1,799,372

1,634,049

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

Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets\6,365,436\

5,806,040

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

Millions of yen
Fiscal year ended March 31,2023

Revenue from operations\2022

939,904\939,430

Cost of revenue from operations

625,452

636,987

Gross profit

314,452

302,442

Selling, general and administrative expenses

73,17868,560Operating income

241,274

233,882

Interest and dividend income

16,07912,792Other non-operating income

565

1,463

Total non-operating income

16,645

14,255Non-operating income

Non-operating expenses
Interest expenses

17,57618,033

Other non-operating expenses

3,691

4,989

Total non-operating expenses

21,26823,023

236,651

225,115

Gain on sale of property and equipment

1497

Gain on sale of investment securities

4,712

2,426

Total extraordinary income

4,727

2,524

8,099

3,453－

0

Loss on disposal of property and equipment

1,742

4,014

Loss on devaluation of investment securities

213

1,160

7

1

Other extraordinary loss

979

355

Total extraordinary loss

11,042

8,986

Income before income taxes

230,336

218,653

Income taxes

68,41068,201

Profit161,925

150,452－－

Ordinary profit
Extraordinary income

Extraordinary loss
Loss on impairment of fixed assets
Loss on sale of property and equipment

Loss on sale of investment securities

Profit attributable to non-controlling interests
Profit attributable to owners of parent\161,925\150,452

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

Millions of yen
Fiscal year ended March 31,2023

Profit\2022

161,925\150,452

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

15,964(4,577)

Net deferred gains (losses) on hedges

5,274

3,693

Foreign currency translation adjustments

4,109

2,815

Remeasurements of defined benefit plans325(976)

Total other comprehensive income (loss)

25,673

956

187,599

151,408

187,599

151,408－－

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

Fair Value of Investment and Rental Properties
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries

As of March 31, 2023

Carrying
amountInvestment and rental properties\4,310,628

Millions of yen

Fair value\8,047,339

As of March 31, 2022

Carrying
amount\3,945,067

Fair value\7,440,041