Consolidated Financial Results for the Third Quarter of Fiscal 2022 (April 1, 2022 - December 31, 2022)
Fiscal 2022 (Year ending March 31, 2023)

February 9, 2023

SUMITOMO REALTY & DEVELOPMENT CO., LTD.

Stock Exchange Listings
Securities Code
Location of Head OfficeURL

TSE Prime Market
8830
Tokyo, Japan

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

1. Results for Third Quarter (April 1, 2022 - December 31, 2022)(1) Consolidated financial results (Amounts less than one million yen, except for per share amounts, are omitted.)
Revenue from operations
Nine months ended Dec 31, 2022
Nine months ended Dec 31, 2021
(Reference) Fiscal 2021

Operating income

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

698,885
713,412
939,430(2.0)
1.1

196,919
193,768
233,882

1.6
8.0

196,615
190,293
225,115

3.3
8.8

2.4

6.7

Profit attributable toowners of parent

7.2

Millions of yen%

135,605
129,002150,452

5.1
0.5

6.4

Notes 1: Comprehensive Income
Fiscal 2022, 3rd quarter : 151,539 millions of yen, 12.1%; Fiscal 2021, 3rd quarter : 135,142 millions of yen, (27.7%)
2: Percentages represent changes compared with the 3rd quarter of the previous year.

Earnings per share
Nine months ended Dec 31, 2022
Nine months ended Dec 31, 2021
(Reference) Fiscal 2021

Diluted earnings pershareYen

Yen

286.12272.19317.45－－－

Note: Average number of shares issued and outstanding (consolidated)
Fiscal 2022, 3rd quarter : 473,938,754 shares; Fiscal 2021, 3rd quarter : 473,939,031 shares(2) Consolidated financial position (Amounts less than one million yen, except for per share amounts, are omitted.)

As of Dec 31, 2022
As of Dec 31, 2021
(Reference) Fiscal 2021

Total assets

Shareholders' equity

Millions of yen

Millions of yen

Shareholders' equity ratio%

5,958,933
5,704,088
5,806,040

1,763,290
1,617,783
1,634,049

29.6
28.4
28.1

Note: Number of shares issued and outstanding (consolidated)
As of Dec 31, 2022: 473,938,643 shares; As of Dec 31, 2021 : 473,938,976 shares

2. Dividend Position

Fiscal 2021
Forecast for Fiscal 2022

InterimDividend per share
Year end

Yen

YenYen

22.00
24.00

23.00
28.00

45.00
52.00

Annual

3. Consolidated Business Forecasts for Fiscal 2022 (Year ending March 31, 2023)
Revenue from operations
Fiscal 2022

Operating income

Ordinary profit

Millions of yen

Millions of yen

Millions of yen

950,000

240,000

235,000

Consolidated business forecasts announced on May 12, 2022 have not been revised.

Profit attributable toowners of parent
Millions of yen

160,000

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

Leasing
Sales
Construction
Brokerage
Other and Elimination/Corporate
Total(2) Operating income

Leasing
Sales
Construction
Brokerage
Other and Elimination/Corporate
Total(Millions of yen)

Nine months ended
Dec 31, 2021
318,720
202,548
134,777
55,428
1,937
713,412Nine months ended
Dec 31, 2022
315,439
190,255
135,741
54,856
2,590
698,885

Increase(Decrease)(3,281)(12,293)+964(571)+653(14,527)

Forecast for
Fiscal 2022
430,000
220,000
220,000
78,000－950,000

Achieved(%)
738662
70－74

Increase(Decrease)

Forecast for
Fiscal 2022
165,000
50,00021,00020,000(16,000)
240,000

Achieved(%)
80
106
5075
－82

(Millions of yen)

Nine months ended Nine months ended
Dec 31, 2021
Dec 31, 2022
132,263
132,30946,77053,005
11,327
10,45914,91715,020(11,510)(13,874)
193,768
196,919+45+6,235(867)+102(2,364)+3,151

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

Millions of yen
December 31,2022

AssetsMarch 31,2022

Current assets:
Cash and deposits\161,176\151,392

Accounts receivable―trade

17,02823,285

Real estate for sale277,643

308,155

Real estate for sale in process

424,621394,921

Costs on uncompleted construction contracts

16,667

8,210

Other inventories

1,687

1,163

Other current assets

61,79654,447(43)(43)

960,577

941,534

Buildings and structures, net

1,103,862

1,114,725

Land

2,921,053

2,847,702

Construction in progress

175,015

139,859

Other property and equipment, net

11,205

12,0284,211,136

4,114,316

Leasehold rights

62,19961,802Other intangibles

2,245

2,191

64,44563,994Investment securities

597,163

573,503

Guarantee and lease deposits

67,02866,993Net defined benefit asset

387

257

Deferred income taxes

11,717

11,456

Other investments

47,13534,641

(658)

(658)

Total investment and other assets

722,774

686,194

Total fixed assets

4,998,355

4,864,505

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

Total property and equipment
Intangibles

Total intangibles
Investment and other assets

Allowance for doubtful accounts

Total assets\5,958,933\

5,806,040

Millions of yen
December 31,
2022

Liabilities and Net Assets

March 31,2022

Current liabilities:
Notes and accounts payable―trade\19,273\42,307

Short-term debt

33,89528,610Long-term debt due within one year

236,413

237,385

Long-term non-recourse debt due within one year

4,670

4,786

Commercial paper

80,00040,000

Corporate bonds due within one year

30,000－Accrued income taxes

23,79940,144

Deposits received

30,59255,155

Provision for bonuses

992

5,803

Other current liabilities

159,014

185,836

618,651

640,029

Corporate bonds

260,000290,000

Non-recourse bonds

35,60035,6002,748,237

2,667,324

Long-term non-recourse debt

252,804

256,287

Net defined benefit liability

5,710

5,796

251,264

249,275

Long-term deposits received

2,336

8,764

Other long-term liabilities

21,03818,912

Total long-term liabilities

3,576,992

3,531,960

Total liabilities

4,195,643

4,171,990

Total current liabilities
Long-term liabilities:

Long-term debt

Guarantee and lease deposits received

Net assets:
Shareholders' equity
Capital122,805

122,805

Capital surplus

104,153104,153

Retained earnings

1,370,049

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

1,592,532

1,479,226

Net unrealized holding gains on securities

153,844

155,863

Net deferred gains (losses) on hedges

11,517704

Foreign currency translation adjustments

5,468(1,449)Remeasurements of defined benefit plans

(72)

(294)

Total accumulated other comprehensive income

170,757

154,823

Total net assets

1,763,290

1,634,049

Treasury stock
Total shareholders' equity
Accumulated other comprehensive income (loss)

Total liabilities and net assets\5,958,933\5,806,040

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

Millions of yen
Fiscal year ended December 31,2022

Revenue from operations\2021

698,885\713,412

Cost of revenue from operations

450,996

470,344

Gross profit

247,888

243,068

Selling, general and administrative expenses

50,96949,300Operating income

196,919

193,768

Interest and dividend income

15,212

12,149Other non-operating income

225

781

15,437

12,931

Interest expenses

13,224

13,642Other non-operating expenses

2,518

2,763

15,742

16,406

196,615

190,293

Gain on sale of property and equipment

182

Gain on sale of investment securities

152586

154669－3,053

Loss on disposal of property and equipment

1,319

2,490

Loss on devaluation of investment securities

156

1,075

Loss on sale of investment securities

60

Other extraordinary loss

4856

1,530

6,677

195,238

184,285

Non-operating income

Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary profit
Extraordinary income

Total extraordinary income
Extraordinary loss
Loss on impairment of fixed assets

Total extraordinary loss
Income before income taxes
Income taxes

59,63355,283

Profit135,605

129,002－－

Profit attributable to non-controlling interests
Profit attributable to owners of parent\135,605\129,002

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

Millions of yen
Fiscal year ended December 31,2022

Profit\2021

135,605\129,002

Other comprehensive income (loss)
Net unrealized holding gains (losses) on securities(2,018)3,978

Net deferred gains (losses) on hedges

10,812603

Foreign currency translation adjustments

6,918

2,067

Remeasurements of defined benefit plans

222

(509)

15,934

6,139

151,539

135,142

151,539

135,142－－

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