Third Quarter Consolidated Financial Reportfor the Nine Months Ended December 31, 2014 (Japan GAAP)
January 26, 2015

Takara Leben CO., LTD.
Shares listed on:
Security code:
URL:
Representative:
Contacts:

First Section of the Tokyo Stock Exchange8897
http://www.leben.co.jp
Kazuichi Shimada, President and Representative Director, CEOToshiya Kitagawa, Director, Executive Officer and Marketing Planning Office Manager
Tel: +81-3-5324-8720

Scheduled date for release of Quarterly Report:
Scheduled date for commencement of dividend payments:
Has the Company prepared supplementary briefing materials for the Quarter:
Has the Company held briefings concerning its quarterly financial results:

February 9, 2015
-NoNo

1. Consolidated Operating Results for the Nine Months Ended December 31, 2014
(April 1-December 31, 2014)(Amounts are rounded down to the nearest million)(1) Consolidated Operating Results (Year-to-Date)(Percentage figures represent year-on-year change)
Net Sales

Operating Income

Ordinary Income

Net Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Nine months ended December 31, 2014

39,858

4.2

3,559

0.9

2,912

(1.4)

1,864(5.5)

Nine months ended December 31, 2013

38,269(30.4)

3,528(41.0)

2,952(47.3)

1,973(48.6)(Note) Comprehensive income: Nine months ended December 31, 2014: ¥1,883million ((4.4)%) / Nine months ended December 31, 2013:¥1,970million((48.6)%)
Net Income perShare

Diluted Net Incomeper ShareYen

Yen

Nine months ended December 31, 2014

16.44

16.39

Nine months ended December 31, 2013

16.98

16.94

(2) Consolidated Financial Position
Total Assets

Net Assets

Equity Ratio

Millions of yen

Millions of yen%As of December 31, 2014

101,443

27,68227.2

As of March 31, 2014

95,891

27,13828.2<Reference> Shareholders’ equity at end of period: December 31, 2014: ¥27,600 million / March 31, 2014: ¥27,084 million

2. Cash Dividends
Annual Cash Dividends per Share
1Q

2Q

3Q

Yen

Yen

Year-End
Yen

Year Ending March 31, 2014

-

1.50

-

Year Ending March 31, 2015

-

2.00

-

Year Ending March 31, 2015 (Forecast)-Total

Yen

Yen

3.50

5.00

4.00

6.00

(Note) Has the Company changed its dividend forecast for the current quarter: No

3. Consolidated Operating Results Forecast for the Fiscal Year Ending March 31, 2015
(April 1, 2014-March 31, 2015)(Percentage figures represent year-on-year change)
Net Sales

Full year

Operating Income

Ordinary Income

Net Income perShareNet Income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

yen

77,1507.2

10,500

7.2

9,700

5.6

6,000

2.2

52.95

(Note) Has the Company changed its consolidated forecast during this quarter: No

4. Other Matters(1) Changes in significant subsidiaries during the current fiscal year
(Changes in specified subsidiaries resulting in changes in scope of consolidation): No
Newly consolidated companies (--) Newly excluded companies (--)
(2) Application of Special Accounting Treatment Made in Preparationof the Quarterly Consolidated Financial Statements: No(3) Changes in Accounting Policies, Changes in Accounting Estimates or Restatement
A. Changes in accounting policies accompanying revision of accounting standards: No
B. Changes in accounting policies other than those in (1): No
C. Changes in accounting estimates: No
D. Restatement: No(4) Number of shares issued (common stock)a. Number of shares outstanding at the end of the period (including treasury stock)b. Number of shares of treasury stock at the end of the periodc. Average number of shares during the period (quarter year-to-date)aAs of December 31, 2014:

128,000,000 shares

As of March 31, 2014:

130,000,000 sharesb.

As of December 31, 2014:

15,926,507 shares

As of March 31, 2014:

15,974,807 sharesc.

Nine months ended December 31, 2014:

113,384,703 shares Nine months ended December 31, 2013:

116,232,624 shares(Note) Explanation concerning implementation status of quarterly review procedure
This quarterly earnings report is exempt from the quarterly review procedure based on the FinancialInstruments and Exchange Act. At the time of disclosure of this quarterly earnings report, the Company has
not completed a quarterly review procedure for financial statements based on the Financial Instruments andExchange Act.

(Note) Explanation concerning appropriate use of the projected operating results and other items to note
The forward-looking statements, including business results forecasts, contained in these materials arebased on information currently available to the Company and on certain assumptions deemed to bereasonable. Actual business results may differ substantially due to a number of factors.

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

Attachments Table of Contents
1. Qualitative Information Pertaining to Consolidated Operating Results for the Quarter .......................................... 2(1) Qualitative Information Pertaining to Consolidated Operating Performance ..................................................... 2(2) Qualitative Information Pertaining to Consolidated Financial Position ............................................................. 3(3) Qualitative Information Pertaining to Forecasted Consolidated Operating Results ........................................... 3
2. Summary Information (Notes) ................................................................................................................................. 3(1) Changes to Material Subsidiaries during the Third-Quarter Year-to-Date Period .............................................. 3(2) Application of Special Accounting Treatment Made in Preparation of the Quarterly Consolidated
Financial Statements ........................................................................................................................................... 3(3) Changes in Accounting Policies, Changes in Accounting Estimates or Restatement ......................................... 3
3. Quarterly Consolidated Financial Statements .......................................................................................................... 4(1) Quarterly Consolidated Balance Sheets .............................................................................................................. 4(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
Income ................................................................................................................................................................ 6
Quarterly Consolidated Statements of Income
Third-Quarter Year-to-Date Period .................................................................................................................. 6
Quarterly Consolidated Statements of Comprehensive Income
Third-Quarter Year-to-Date Period .................................................................................................................. 7(3) Notes on Quarterly Consolidated Financial Statements...................................................................................... 8(Notes on Assumption of Going Concern) ......................................................................................................... 8(Notes on A Significant Change in Shareholders’ Equity) ................................................................................. 8-1-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

1. Qualitative Information Pertaining to Consolidated Operating Results for the Quarter(1) Qualitative Information Pertaining to Consolidated Operating Performance
a. Performance by business segment
In the Third-quarter year-to-date period of the Takara Leben Group’s fiscal year ending in March 2015, sales
from the real estate sales business amounted to ¥34,050 million, up 0.3% on a year-on-year basis. This reflectedsales in the new built-for-sale condominium business, as well as sales in the newly-built detached housingbusiness .
In the real estate rental business, sales totaled ¥1,866 million, up 47.4% on a year-on-year basis. This reflectedsales from the rental of apartments, condominium units, and offices.
In the real estate management business, sales from the management of 37,734 units of residential
condominiums were ¥2,188 million, up 7.4% on a year-on-year basis.
Sales from other businesses amounted to ¥1,752 million, up 72.3% on a year-on-year basis, mainly revenues
from large-scale repair work and revenues from electric power selling in mega-solar business.
As a result, Net sales for the Third-quarter year-to-date period of the current consolidated fiscal year amountedto ¥39,858 million, up 4.2% on a year-on-year basis; Operating income amounted to ¥3,559 million, up 0.9% on
a year-on-year basis; Ordinary income amounted to ¥2,912million, down 1.4% on a year-on-year basis; and Net
income amounted to ¥1,864 million, down 5.5% on a year-on-year basis;b. Overview
The built-for-sale condominium business delivered 846 units including solar-powered condominiums (LEBEN
Kitasenjyu, and LEBEN Fujimino solahills ).
c. Contracted ratio status
With regard to sales performance in the third-quarter year-to-date period of the current consolidated fiscal year,
contracts were concluded for 1,572 units, compared with a full-year target of 1,702 units scheduled for delivery.
In addition, the total number of contracts signed, including units scheduled for delivery the fiscal year ending
March 31, 2016, was 2,172 units, showing that sales remained brisk as in the fiscal year ended March 31, 2014.
(Contracts signed versus number of units forecast for New built-for-sale condominium delivery)
Number of contracts
signed of units
Units scheduled for
Number of contracts scheduled for delivery Total number ofdelivery (units)
signed (units)from the fiscal year contracts signed
ending March 31,
2016
Nine months
ended December
31, 2013

1,710

1,688

637

2,325

Nine months
ended December
31, 2014

1,702

1,572

600

2,172-2-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

(2) Qualitative Information Pertaining to Consolidated Financial Position
Assets, Liabilities and Net Assets
With regard to the assets, liabilities, and net assets of the Group at the end of the third-quarter consolidated
accounting period under review, total assets were ¥101,443 million, an increase of ¥5,552 million compared withthe end of the previous consolidated fiscal year. The increase mainly reflected an increase in purchasing ofbusiness assets..
(Current Assets)
Current assets decreased ¥128 million compared with the end of the previous consolidated fiscal year to¥72,396 million. This mainly reflected a decrease in cash and deposits as a result of Settlement of notes payable.
(Fixed Assets)
Fixed assets increased ¥5,679 million compared with the end of the previous consolidated fiscal year to¥29,046 million, mainly reflected, due to purchase of business assets.
(Current Liabilities)
Current liabilities increased ¥5,972 million compared with the end of the previous consolidated fiscal year to¥43,684 million, mainly because of the shift in debt maturities from long-term debt to short-term borrowings.
(Fixed Liabilities)
Fixed liabilities decreased ¥965 million compared with the end of the previous consolidated fiscal year to¥30,076 million, mainly because of the shift in debt maturities from long-term debt to short-term borrowings.
(Net Assets)
Total net assets increased ¥544 million compared with the end of the previous consolidated fiscal year to¥27,682 million as net income for the year exceeded distribution of surplus and acquisition of treasury stock.
(3) Qualitative Information Pertaining to Forecasted Consolidated Operating Results
For a revision of the consolidated operating results forecast, please refer to the notice of a revision to theresults forecast announced on October 27, 2014,2. Summary Information (Notes)(1) Changes to Material Subsidiaries during the First-Quarter Year-to-Date Period
The Company had no pertinent matters to report.
(2) Application of Special Accounting Treatment Made in Preparation of the Quarterly Consolidated Financial
Statements
The Company had no pertinent matters to report.
(3) Changes in Accounting Policies, Changes in Accounting Estimates or Restatement
The Company had no pertinent matters to report.

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Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

3. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2014

As of December 31, 2014ASSETS
Current assets:
Cash and deposits
Notes and accounts receivable, trade35,96424,336405486

Real estate held for sale

1,156

2,912

Real estate held for sale in progress

32,28840,248

-

1,041

2,753

3,405

Costs incurred on uncompleted contracts
Other
Allowance for doubtful accounts
Total current assets

(43)

(35)

72,524

72,396

Fixed assets:
Tangible fixed assets
Buildings and structures (net)

5,108

5,500

Land

14,10016,424Other (net)

2,024

3,778

Total tangible fixed assets

21,23325,702

513

1,196

1,729

2,193

Intangible fixed assets
Investments and other assets
OtherAllowance for doubtful accounts

(109)

(45)

Total investments and other assets

1,619

2,147

23,366

29,046-

0

95,891

101,443

Notes and accounts payable, trade

20,692

11,738

Short-term borrowings

2,590

6,950

－

10

Current portion of long-term borrowings

5,101

15,318

Income taxes payable

Total fixed assets
Deferred assets
Total assets
LIABILITIESCurrent liabilities:

Bonds redeemed within one year

3,356

286

Reserve

388

255

Other

5,580

9,125

Total current liabilities

37,711

43,68429,861

27,741

Reserve26

29

Liabilities related to retirement benefits

220

262

Noncurrent liabilities
Long-term borrowings

Other
Total noncurrent liabilities
Total liabilities-4-9332,042

31,041

30,07668,75273,760Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

(Millions of yen)
As of March 31, 2014

As of December 31, 2014

NET ASSETS
Shareholders’ equity
Capital stock4,819

4,819

Capital surplus

4,817

4,817

Retained earnings

21,62322,397

Treasury stock(4,179)(4,456)

Total shareholders’ equity

27,08027,578422

Total accumulated other comprehensive income

422

Subscription rights to shares

53

81

Accumulated other comprehensive income
Net unrealized losses on available-for-sale
Securities

Total net assets
Total liabilities and net assets-5-27,13827,682

95,891

101,443

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income
Quarterly Consolidated Statements of Income
Third-Quarter Year-to-Date Period(Millions of yen)
Nine Months Ended
December 31, 2013

Nine Months Ended
December 31, 2014

Net sales

38,26939,858

Cost of sales

28,81429,901Gross profit

9,455

9,956

Selling, general and administrative expenses

5,926

6,396

Operating income

3,528

3,559

Interest income

33

Dividend income

44

Commissions received

5656

Income from equity method investment

14‐

Miscellaneous income

1247

Total Non-Operating income

92111

Interest expense

632

647

Miscellaneous losses

3531

Non-Operating income:Non-Operating expenses:

Losses from equity method investment
Total Non-Operating expenses
Ordinary income

-

78668

758

2,952

2,912

Extraordinary gains
Legal settlement received

330-

Gain on negative goodwill-

82

Gain on sale of investment securities

-

16

330

98

Loss on sales of noncurrent assets

39-

Loss on disposal of fixed assets

00

Loss on valuation of investment securities-9

Total extraordinary gains
Extraordinary losses

Other9-Total extraordinary losses

49

9Net income before income taxes

3,233

3,001

Income taxes, inhabitant taxes and business taxes

938

358

Income tax adjustments

321

777

Total income and other taxes

1,260

1,136

Income before minority interests

1,973

1,864

Net income

1,973

1,864-6-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

Quarterly Consolidated Statements of Comprehensive Income
First-Quarter Year-to-Date Period(Millions of yen)
Nine Months Ended
December 31, 2013
Income before minority interests

Nine Months Ended
December 31, 2014

1,973

1,864Net unrealized gains on available-for-sale securities

(2)

18

Total other comprehensive income

(2)

18

1,970

1,883

1,970

1,883

Other comprehensive income:Comprehensive income(Comprising)Comprehensive income attributable to parent-7-

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Nine Months Ended December 31, 2014

(3) Notes on Quarterly Consolidated Financial Statements(Notes on Assumption of Going Concern)
The Company had no pertinent matters to report.
(Notes on A Significant Change in Shareholders’ Equity)
In the Third quarters of the consolidated fiscal year under review, the Company purchased shares of treasury
stock at ¥862 million, by resolution of the meeting of the Board of Directors held on May 12, 2014. And
2,000,000 shares of treasury stock were cancelled.
Additionally, with the disposal of treasury stock for ¥25 million due to the exercise of stock options, theCompany held treasury stock for ¥4,456 million as of December 31, 2014.

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