First Quarter Consolidated Financial Reportfor the Three Months Ended June 30, 2017 (Japan GAAP)
July 24, 2017

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, CEO
Masashi Yamamoto, Executive officer and General Planning Division
Tel: +81-3-6551-2130

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:

August 10, 2017
-NoNo

1. Consolidated Operating Results for the Three Months Ended June 30, 2017
(April 1-June 30, 2017)(Amounts are rounded down to the nearest million)(1) Consolidated Operating Results (Year-to-Date)(Percentage figures represent year-on-year change)
Net Sales
Millions of yen

Three months ended June 30, 2017

21,361Three months ended June 30, 201621,196

Operating Income%Millions of yen

0.8

3,791

130.4

3,033

Ordinary Income%Millions of yen

25.0

3,505－2,731

Net Income%Millions of yen%

28.3

2,409

34.8

－

1.788

－(Note) Comprehensive income: Three months ended June 30, 2017: ¥2,338 million (21.1%) / Three months ended June 30, 2016: ¥1,931
million (－%)
Net Income perShare

Diluted Net Income
per Share

Yen

Yen

Three months ended June 30, 2017

22.31

22.21

Three months ended June 30, 2016

16.30

16.21

(2) Consolidated Financial Position
Total Assets

Net Assets

Equity Ratio

Millions of yen

Millions of yen%

As of June 30, 2017

149,853

38,051

25.3

As of March 31, 2017

139,874

36,792

26.2<Reference> Shareholders’ equity at end of period: June 30, 2017: ¥37,912 million / March 31, 2017: ¥36,635 million

2. Cash Dividends
Annual Cash Dividends per Share
1Q

2Q
Yen

Year Ending March 31, 2017

-Year Ending March 31, 2018

-3Q
Yen

Year Ending March 31, 2018 (Forecast)Year-End
Yen

Total

Yen

Yen

5.00

-

10.00

15.00

5.00

-

10.00

15.00

(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, 2018
(April 1, 2017-March 31, 2018)(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

110,000

6.2

10,550

1.9

9,500

0.0

6,300

3.1

58.35

(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)a.

Three months ended June 30, 2017:

124,000,000 shares

As of March 31, 2017:

124,000,000 sharesb.

Three months ended June 30, 2017:15,955,707 shares

As of March 31, 2017:16,022,507 sharesc.

Three months ended June 30, 2017:

108,012,253 shares

Three months ended June 30, 2016:

109,696,333 shares(Note) This quarterly earnings report is exempt from the quarterly review based on the Financial Instruments
and Exchange 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 are based on
information currently available to the Company and on certain assumptions deemed to be reasonable. Actual
business results may differ substantially due to a number of factors.

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017

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 ............................................................. 2(3) Qualitative Information Pertaining to Forecasted Consolidated Operating Results ........................................... 3
2 Quarterly Consolidated Financial Statements ............................................................................................................ 4(1) Quarterly Consolidated Balance Sheets .............................................................................................................. 4(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
Income ................................................................................................................................................................ 7
Quarterly Consolidated Statements of Income
First-Quarter Year-to-Date Period ................................................................................................................... 7
Quarterly Consolidated Statements of Comprehensive Income
First-Quarter Year-to-Date Period ................................................................................................................... 8(3) Notes on Quarterly Consolidated Financial Statements...................................................................................... 9(Notes on Assumption of Going Concern) ......................................................................................................... 9(Notes on A Significant Change in Shareholders’ Equity) ................................................................................. 9-1-

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017

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 first-quarter year-to-date period of the Takara Leben Group’s fiscal year ending in March 2018, sales
from the real estate sales business amounted to ¥4,700 million, down 52.4% on a year-on-year basis. This
reflected sales in the new built-for-sale condominium business, as well as sales in the newly-built detachedhousing business.
In the real estate rental business, sales totaled ¥1,344 million, up 9.3% 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 45,149 units of residential
condominiums were ¥980 million, up 7.7% on a year-on-year basis.
In the electric power generation business, sales totaled ¥13,636 million, up 59.2% on a year-on-year basis,
mainly due to revenues from the sale of seven facilities that were already operating and revenues from the sale ofelectricity generated by other electric power generation facilities.
Sales from other businesses amounted to ¥698 million, up 12.7% on a year-on-year basis, mainly revenues
from construction work, large-scale repair work.
As a result, Net sales for the first-quarter year-to-date period of the current consolidated fiscal year amountedto ¥21,361 million, up 0.8% on a year-on-year basis; Operating income amounted to ¥3,791 million, up 25.0% on
a year-on-year basis; Ordinary income amounted to ¥3,505 million, up 28.3% on a year-on-year basis; and Net
income amounted to ¥2,409 million, up 34.8% on a year-on-year basis.
b. Contracted ratio status
With regard to sales performance in the first-quarter year-to-date period of the current consolidated fiscal year,
contracts were concluded for 825 units, compared with a full-year target of 1,600 units scheduled for delivery.
The contract ratio was at 51.6% showing a steady growth in the business.
(New built-for-sale condominiums: Contracts signed versus number of units scheduled for delivery)
Units scheduled for Number of contracts
Contracted ratio
Contracted ratiodeliverysignedas of April 1,2017(%)(units)(units)(%)
Three months ended
June 30, 2016
Three months ended
June 30, 2017

1,6001,046

65.4

44.6

1,600

825

51.6

32.9

(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 first-quarter consolidated
accounting period under review, total assets were ¥149,853 million, an increase of ¥9,979 million compared withthe end of the previous consolidated fiscal year. The increase mainly reflected an increase in inventory inconjunction with new purchases and purchases of business assets.
(Current Assets)
Current assets increased ¥1,288 million compared with the end of the previous consolidated fiscal year to¥87,873 million. This mainly reflected an increase in inventory in conjunction with new purchase.
-2-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017

(Fixed Assets)
Fixed assets increased ¥8,694 million compared with the end of the previous consolidated fiscal year to¥61,932 million, mainly reflected the purchase business assets.
(Current Liabilities)
Current liabilities increased ¥5,651 million compared with the end of the previous consolidated fiscal year to¥56,133 million, mainly due to increase in short-term borrowings and the reclassification from long-termborrowings to short-term borrowings.
(Fixed Liabilities)
Fixed liabilities increased ¥3,069 million compared with the end of the previous consolidated fiscal year, to¥55,668 million, mainly due to the increase borrowings with new purchase.
(Net Assets)
Total net assets increased ¥1,258 million compared with the end of the previous consolidated fiscal year, to¥38,051 million, chiefly because the recorded amount of profit attributable to owners of parent exceeded theamounts of dividend of surplus.
(3) Qualitative Information Pertaining to Forecasted Consolidated Operating Results
There is no change from the projected consolidated operating results released on May 15, 2017.

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Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017

2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2017

As of June 30, 2017

ASSETS
Current assets:
Cash and deposits

29,78030,964

Notes and accounts receivable, trade

1,331

1,222

Real estate held for sale

9,658

7,540

Power generation facilities for sale

7,885

―

Real estate held for sale in progress

32,39043.909

1599

Other

5,648

4,226

Allowance for doubtful accounts

(124)

(128)

Total current assets

86,58587,873

Buildings and structures (net)14,235

15,706

Land

23,821

29,570

Other (net)

9,089

9,546

Total tangible fixed assets

47,14654,823

1,391

1,905

4,708

5,213

(9)

(10)

Costs incurred on uncompleted contracts

Fixed assets:
Tangible fixed assets

Intangible fixed assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets

4,699

5,202

53,23761,93251

48

139,874

149,853

Notes and accounts payable, trade12,173

8,847

Short-term borrowings

16,49022,043

Total fixed assets
Deferred assets
Total assets
LIABILITIESCurrent liabilities:

Current portion of bonds

60

60

Current portion of long-term borrowings

13,09817,060

Income taxes payable

2,976

1,404

729

602

Reserve
Other

4,954

6,115

Total current liabilities

50,48256,133Long-term borrowings

48,43950,616Bonds payableNoncurrent liabilities
1,640

1,640Reserve

5656

Liabilities related to retirement benefits

331

345

2,131

3,010

Other-4-

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017

As of March 31, 2017
Total noncurrent liabilities
Total liabilities-5-

As of June 30, 2017

52,59955,668103,081

111,802

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017

(Millions of yen)
As of March 31, 2017

As of June 30, 2017

NET ASSETSShareholders’ equity
Capital stock

4,819

4,819

Capital surplus

4,817

4,810

Retained earnings

32,97034,300Treasury stock(5,976)(5,951)

Total shareholders’ equity

36,63037,979

4(66)

4(66)

Accumulated other comprehensive income
Net unrealized losses on available-for-sale
Securities
Total accumulated other comprehensive income
Subscription rights to shares
Total net assets
Total liabilities and net assets-6-157

138

36,792

38,051

139,874

149,853

Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income
Quarterly Consolidated Statements of Income
First-Quarter Year-to-Date Period(Millions of yen)Three Months Ended
June 30, 2016

Three Months Ended
June 30, 2017

Net sales

21,19621.361

Cost of sales

15,197

14,847Gross profit

5,999

6,513

Selling, general and administrative expenses

2,965

2,722

Operating income

3,033

3,791

Interest income

00

Dividend income

33

Commissions received

167

Miscellaneous income

639

Total Non-Operating income

2751

Interest expense

265288Losses from equity method investment

5740

Miscellaneous losses

68330

338

2,731

3,505

Loss on disposal of fixed assets―

8Office transfer expenses―

89

Non-Operating income:Non-Operating expenses:

Total Non-Operating expenses
Ordinary income
Extraordinary losses

Total extraordinary losses―

97

Net income before income taxes

2,731

3,407

Income taxes, inhabitant taxes and business taxes

1,887

1,393

Income tax adjustments

(944)

(395)

Total income and other taxes

942

998

Net income

1,788

2,409

Profit attributable to owners of parent

1,788

2,409-7-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017

Quarterly Consolidated Statements of Comprehensive Income
First-Quarter Year-to-Date Period(Millions of yen)Three Months Ended
June 30, 2016
Net income

Three Months Ended
June 30, 2017

1,788

2,409

Net unrealized gains on available-for-sale securities

143

(71)

Total other comprehensive income

143

(71)

1,931

2,338

1,931

2,338

Other comprehensive income:Comprehensive income(Comprising)Comprehensive income attributable to parent-8-Takara Leben CO., LTD. (8897) Consolidated Financial Report for the Three Months Ended June 30, 2017(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)
The Company had no pertinent matters to report.

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