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

August 10, 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 for First Quarter (April 1, 2023 - June 30, 2023)(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, 2023
Three months ended Jun 30, 2022
(Reference) Fiscal 2022

Operating income

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

253,138
243,524
939,904

3.9

78,15173,595
241,274

6.2

82,071
76,264
236,651

7.6

(2.7)
0.1

3.6
3.2

Profit attributable toowners of parent

5.6
5.1

Millions of yen%

56,88052,890161,925

7.5

7.5
7.6

Notes 1: Comprehensive Income
Fiscal 2023, 1st quarter: 104,092 millions of yen, 105.0%; Fiscal 2022, 1st quarter: 50,785 millions of yen, 34.6%
2: Percentages represent changes year on year.

Earnings per share
Three months ended Jun 30, 2023
Three months ended Jun 30, 2022
(Reference) Fiscal 2022

Diluted earnings pershare

YenYen120.02111.60341.66―――

Note: Average number of shares issued and outstanding (consolidated)
Fiscal 2023, 1st quarter: 473,938,544 shares; Fiscal 2022, 1st quarter: 473,938,867 shares(2) Consolidated financial position (Amounts less than one million yen, except for per share amounts, are omitted.)

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

Total assets

Shareholders' equity

Millions of yen

Millions of yen

Shareholders' equity ratio%

6,454,240
5,797,748
6,365,436

1,890,194
1,673,911
1,799,372

29.3
28.9
28.3

Note: Number of shares issued and outstanding (consolidated)
As of Jun 30, 2023 : 473,938,527 shares; As of Jun 30, 2022 : 473,938,763 shares

2. Dividend Position

Fiscal 2022
Forecast for Fiscal 2023

InterimDividends per share
Year end

Yen

Yen

Yen

24.00
29.00

28.00
30.00

52.00
59.00

Annual

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

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 tovarious arising in the future.

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

LeasingSales
ConstructionBrokerage
Other and Elimination/Corporate
Total(2) Operating income

Leasing
SalesConstruction
Brokerage
Other and Elimination/CorporateTotal(Millions of yen)Three months ended Three months ended
Jun 30, 2022
Jun 30, 2023
103,488
107,508
94,888100,924
26,44024,98718,041
18,995666
722
243,524
253,138

Increase(Decrease)+4,020+6,036(1,452)+953+56+9,613

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

Achieved(%)
2445
1125－26

Three months ended Three months ended
Jun 30, 2022
Jun 30, 2023
43,62243,50830,17634,471(1,317)(1,314)5,134
5,494(4,020)(4,008)73,59578,151

Increase(Decrease)(114)+4,295+3+360+12+4,556

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

Achieved
(%)
25
64－
25－
31

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

Millions of yen
June 30,2023

AssetsMarch 31,2023

Current assets:
Cash and deposits\203,095\185,119

Accounts receivable―trade17,411

38,047

Real estate for sale

369,072

399,244

Real estate for sale in process

386,086

381,753

Costs on uncompleted construction contracts

16,401

8,002

Other inventories

820

1,070

Other current assets

67,35273,659(40)(24)

1,060,198

1,086,872

Buildings and structures, net

1,246,428

1,265,357

Land

3,079,788

3,057,436

Construction in progress

136,289

126,591

Other property and equipment, net

14,707

15,0784,477,213

4,464,465

Leasehold rights

60,886

60,846

Other intangibles

2,599

2,446

63,48563,292

Investments securities

734,464

628,396

Guarantee and lease deposits

66,46367,043Net defined benefit asset

334

292

Deferred income taxes

13,14813,249Other investments and other assets

39,82042,728

Allowance for doubtful accounts

(888)

(905)

Total investment and other assets

853,343

750,805

Total fixed assets

5,394,042

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\6,454,240\6,365,436

Millions of yen
June 30,2023

Liabilities and Net Assets

March 31,2023

Current liabilities:
Notes and accounts payable―trade\26,295\29,066

Short-term debt

34,60528,610Long-term debt due within one year

213,140

219,472

4,572

4,640

Commercial paper

168,000

180,000

Corporate bonds due within one year

110,000

70,000Accrued income taxes

24,82630,827

Deposits received

41,52675,117

Provision for bonuses

932

4,924

Other current liabilities

203,632

198,870

827,530

841,527

Corporate bonds

280,000

250,000

Non-recourse bonds

35,60035,6002,863,407

2,898,052

Long-term non-recourse debt

250,546

251,647

Net defined benefit liability

5,496

5,534

252,577

254,008

Long-term deposits received

565

2,324

Other long-term liabilities

48,32227,368

Total long-term liabilities

3,736,515

3,724,536

Total liabilities

4,564,046

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

1,440,003

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

1,662,485

1,618,875

220,705

171,827

Net deferred gains (losses) on hedges

4,134

5,979

Foreign currency translation adjustments

2,845

2,659

Remeasurements of defined benefit plans

2330

Total accumulated other comprehensive income

227,708

180,497

Total net assets

1,890,194

1,799,372

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

Total liabilities and net assets\6,454,240\6,365,436

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

Millions of yen
Fiscal year ended June 30,
2023

Revenue from operations\2022

253,138\243,524

Cost of revenue from operations

159,029

155,119

Gross profit

94,10888,405

Selling, general and administrative expenses

15,956

14,810Operating income

78,15173,595Interest and dividend income

9,336

7,793

Other non-operating income

60

34

9,396

7,827

4,526

4,307

950

851

5,477

5,158

82,071

76,264Gain on sale of property and equipment

1－Gain on sale of investment securities

0020

Loss on disposal of property and equipment

185

170

Loss on devaluation of investment securities－290

Loss on sale of investment securities－1

Other extraordinary loss

024

185486

Income before income taxes

81,88875,777

Income taxes

25,00722,886

Profit56,88052,890－－Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses
Other 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\56,880\52,890

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

Millions of yen
Fiscal year ended June 30,2023

Profit\2022

56,880\52,890

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

48,878(6,689)Net deferred gains (losses) on hedges(1,844)2,792

Foreign currency translation adjustments

185

1,718

Remeasurements of defined benefit plans

(7)

74

47,211(2,105)104,092

50,785104,09250,785－－

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