July 26, 2012

For the Three Months from April 1 to June 30, 2012

Outline of Consolidated Financial Statements
Name of company listed :Code number :Shares traded :URL :Representative :IR contact :Nomura Real Estate Holdings, Inc.
3231
TSE (First section)
http://www.nomura-re-hd.co.jp/english/index.html
Kamezou Nakai, President
Daisuke Kitai, General M anager of Corporate
Communications & Investor Relations Dept.
info@nomura-re-hd.com
August 14, 2012
YesNo

Scheduled submitting date of annual securities report :Preparation of Explanatory M aterials for Financial Results :Information M eetings Arranged Related to Financial Results :Note: The accompanying consolidated financial statements were not audited since they have been prepared only for reference purpose. All
statements were based on Tanshin report prepared in accordance with the provisions set forth in accounting regulations and principals
generally accepted in Japan.
(Values of less than one million yen rounded off.)1.

Consolidated operating results for the three months from April 1 to June 30, 2012

(1) Consolidated business results(% indicates the rate of changes from previous fiscal year)
O perating revenue
First three months

O perating income%Millions of y en

O rdinary income%Millions of y en

Millions of y en

Net income%%Millions of y en

FY 2012113,363

54.5

16,953

69.5

14,963

139.8

8,207

169.9

FY 201173,351

25.4

10,004

122.3

6,240

752.4

3,041

―(Reference) Comprehensive Income: From April 1 to June 30, 2012 ¥7,858 million (133.1%), From April 1 to June 30, 2011 ¥3.371 million (-%)

Ne t income pershare

Net income per share after
adjusting for dilution

yenyenFY 201243.09

43.04FY 2011

15.97

15.95

First three months(2) Consolidated financial status
Total assets

Net assets

Total shareholders'equity ratio

Millions of yen

Millions of yen%Jun. 30, 2012

1,385,694

381,973

23.2

Mar. 31, 2012

1,402,624

376,486

22.6(Reference) Shareholders’ Equity: At June 30, 2012 ¥ 321,775 million, At March 31, 2012 ¥ 317,066 million

12.

Cash dividends per share
Cash dividends per share
1st quarter end

2nd quarter end

3rd quarter end

Fiscal year endyen

Annualyenyen

FY endedMar. 31, 2012―12.50―12.50

25.00

FY endingMar. 31, 2013―************FY endingMar. 31, 2013
(Forecast)

***

15.00

―

15.00

30.00

(Note) Revision of cash dividends forecast during this quarter: None3.

Forecasts of consolidated operating results for the fiscal year from April 1, 2012 to March 31, 2013(% indicates the rate of changes from previous fiscal year or term)
Operating revenue

FY endingMar. 31, 2013

Operating income

Millions of yen%

523,000

16.0

Ordinary income%Millions of yen

55,000Millions of yen

10.1

40,000Net income%

17.0

Millions of yen19,000

Net income per share%yen

8.0

99.76

(Note) Revision of operating results forecasts during this quarter: None

4.

Other important indices / information(1) Significant changes to consolidated subsidiaries during the period: None
Number of consolidations: None (Company name: －)Elimination : None (Company name: －)(2) Simplified accounting and particular accounting in the elaboration of quarterly consolidated financial statement: None
(3) Changes in accounting basis, procedure and presentation for the consolidated financial statements
This information should be described in “Significant changes for presenting the consolidated financial statements”.
①

Changes in accounting principles: None②

Other changes: None③

Changes in accounting estimates: None④

Restatements: None

(4) Number of shares issued (common stock)
At June 30
2012
Number of shares outstanding(including treasury stock)
T reasury stock

Average number of shares
during the term

At March 31
2012

190,463,400

190,456,900

1,062

1,016

From April 1 to June 30

From April 1 to June 30

2012

2011
190,461,246

2190,386,441

Implementation status of quarterly review procedure
The financial summary and the accompanying materials including the consolidated financial statements are not subject to the review
procedure by external auditors that are based on Financial Instruments and Exchange Act.
The review procedure has not yet finished at the point of releasing this financial summary.
Forward-Looking Statements
Certain statements other than historical facts in this document are forward-looking statements that reflect the company’s plans and estimates
based on currently available information. Therefore, the Company has no intention to promise the accomplishment of the forecasts. Thesestatements include known and unknown risks, uncertainties, and other factors that may cause the company’s actual future performance todiffer from the forward-looking statements contained herewith.

3Consolidated Balance Sheets(Values of less than one million yen rounded off.)(Millions of yen)
Assets

資産

Current Assets:

流動資産585,332

573,172

現金及び預金45,45842,604

受取手形及び売掛金

13,187

9,024

有価証券

25,00020,000

販売用不動産124,840

120,451

仕掛販売用不動産

197,637

201,717

開発用不動産74,13173,667

営業エクイティ投資
繰延税金資産41,89518,505

41,697
15,066

その他

44,86849,134

1 Cash and Deposits
2 Notes and Accounts Receivable-trade
3 Short-term Investment Securities
4 Real Estate for Sale
5 Real Estate for Sale in Process
6 Land Held for Development
7 Equity Investments
8 Deferred Tax Assets
9 Other
Allowance for Doubtful Accounts
Noncurrent Assets:

1 Property, Plant and Equipment(１) Buildings and Structures(２) Land(３) Other
2 Intangible Assets
3 Investments and Other Assets(１) Investment Securities(２) Lease and Guarantee Deposits(３) Deferred Tax Assets(４) Other
Allowance for Doubtful Accounts

March 31, 2012

貸倒引当金

June 30, 2012

(189)

(190)

固定資産817,292

812,522有形固定資産建物及び構築物(純額)709,716
221,678

706,943
218,983

土地

471,901

471,887

その他(純額)16,136

16,071

無形固定資産

9,857

9,694

投資その他の資産

97,717

95,884

投資有価証券

45,94943,804

敷金及び保証金

23,621

23,911

繰延税金資産24,69824,643

その他
貸倒引当金

3,468
(19)

3,544
(18)

1,402,624

1,385,694

Total Assets

資産合計

Liabilities

負債

Current Liabilities :流動負債257,348

支払手形及び買掛金

36,351

29,304

短期借入金

148,242

201,863

未払法人税等
預り金

6,109
14,475

1,841
11,615

賞与引当金
役員賞与引当金

4,335
267

2,374
8676
413

694081 Notes and Accounts Payable-trade
2 Short-term Loans Payable
4 Income Taxes Payable
5 Deposits Received
6 Provision for Bonuses
7 Provision for Directors' Bonuses
8 Provision for Loss on Business Liquidation
9 Provision for Loss on Disaster10 Other
Noncurrent Liabilities :1 Bonds Payable
2 Long-term Loans Payable
3 Lease and Guarantee Deposits Received
4 Deferred Tax Liabilities
5 Deferred Tax Liabilities for Land Revaluation
6 Provision for Retirement Benefits
7 Provision for Loss on Subleasing Business
8 OtherMarch 31, 2012

事業整理損失引当金
災害損失引当金

47,07645,251

固定負債768,789

710,907

社債

33,00033,000

長期借入金
受入敷金保証金

577,319
55,642519,847
56,026

繰延税金負債
再評価に係る繰延税金負債

72,317
4,370

72,2164,370

退職給付引当金
転貸事業損失引当金

15,618
1,583

15,436
1,435

その他

8,936

8,575

1,026,138

1,003,721

株主資本312,907

318,747

資本金

115,625

115,632

資本剰余金
利益剰余金
自己株式

92,955
104,328(2)

92,961
110,155(2)

負債合計

Net Assets

純資産

S hareholders' Equity:

1 Capital Stock
2 Capital Surplus
3 Retained Earnings
4 Treasury Stock
1 Valuation Difference on Available-for-sale Securities
2 Deferred Gains or Losses on Hedges
3 Revaluation Reserve for Land
4 Foreign Currency Translation Adjustment

292,814

その他

Total Liabilities

Other Comprehensive Income:June 30, 2012

その他の包括利益累計額

4,159

3,027

その他有価証券評価差額金(2,039)(3,283)

繰延ヘッジ損益
土地再評価差額金

405
6,625

518
6,625
(831)

為替換算調整勘定(831)

S ubscription Rights to S hares:

新株予約権

713

717

Minority Interests:

少数株主持分

58,70659,479Total Net Assets

純資産合計

Total Liabilities and Net Assets

負債・純資産合計

4376,486

381,973

1,402,624

1,385,694

Consolidated Statements of Income(Values of less than one million yen rounded off.)(Millions of yen)
From April 1 to June 30
20112012

AmountAmountⅠ Operating Revenue

営業収益73,351

113,363

Ⅱ Operating Cost

営業原価49,52879,035

営業総利益

23,82334,328

販売費及び一般管理費

13,81917,374

Operating Income

営業利益10,004

16,953

Ⅳ Non-operating Income

営業外収益

115

1,460

受取利息
受取配当金
持分法による投資利益
その他

1822
568

21
1,350
285

営業外費用

3,879

3,450

支払利息
その他

3,558
320

3,278
171

Ordinary Income

経常利益

6,240

14,963

Income before Income Taxes and Minority Interests

税金等調整前四半期純利益

6,240

14,963

法人税,住民税及び事業税
法人税等調整額法人税等合計
少数株主損益調整前四半期純利益
少数株主利益

1,808
689
2,498
3,742
700

1,987
3,987
5,974
8,989
781

四半期純利益

3,041

8,207

Operating Gross Profit

Ⅲ S elling, General and Administrative Expenses

1234

Interest Income
Dividends Income
Equity in Earnings of Affiliates
Other

Ⅴ Non-Operating Expenses
12Interest Expenses
Other

Income Taxes-current
Income Taxes-deferred
Total Income Taxes
Income before M inority Interests
M inority Interests in Income
Net Income

5Consolidated Statements of Comprehensive Income(Values of less than one million yen rounded off.)(Millions of yen)
From April 1 to June 30
2011

2012

AmountAmount

Net income before Minority Interests

少数株主損益調整前四半期純利益

3,742

8,989

Other Comprehensive Income

その他の包括利益(370)(1,131)

その他有価証券評価差額金
繰延ヘッジ損益
土地再評価差額金

(361)
5(14)

(1,244)112(0)Comprehensive Income

四半期包括利益

3,371

7,858

(break down)

(内訳）

2,670
701

7,076
781

123

Valuation Difference on Available-for-sale Securities
Deferred Gains or Losses on Hedges
Revaluation Difference for Land

Comprehensive Income Attributable to Owners of the Parent
Comprehensive Income Attributable to M inority Interests

親会社株主に係る四半期包括利益
少数株主に係る四半期包括利益

6

Consolidated Statements of Cash Flows(Values of less than one million yen rounded off.)(Millions of yen)
From April 1 to June 30

Cash Flows

2011

2012

I. Net Cash Provided by (Used in) Operating Activities
Income Before Income Taxes and M inority Interests

税金等調整前四半期純利益

6,240

14,963

Depreciation and Amortization

減価償却費

3,394

3,303

Equity (Earnings) Losses in Net Income of Affiliated Companies

持分法による投資損益

(5)

(2)

Increase (Decrease) in Allowance for Doubtful Accounts

貸倒引当金の増減額00

Increase (Decrease) in Provision for Retirement Benefits

退職給付引当金の増減額

(74)

(182)

Increase (Decrease) in Provision for Loss on Business Liquidation

事業整理損失引当金の増減額

(9)

(7)

Increase (Decrease) in Provision for Loss on Subleasing Business

転貸事業損失引当金の増減額

(438)

(147)

Increase (Decrease) in Provision for Loss on Disaster

災害損失引当金の増減額

(411)

(5)

Interest and Dividends Income

受取利息及び受取配当金(40)(1,371)

Interest Expenses

支払利息

3,558

3,278

Decrease (Increase) in Notes and Accounts Receivable-trade

売上債権の増減額

5,132

4,162

Decrease (Increase) in Inventories

たな卸資産の増減額(3,150)

612

Decrease (Increase) in Equity Investments

営業エクイティ投資の増減額

Increase (Decrease) in Notes and Accounts Payable-trade

(15)

197

仕入債務の増減額(24,513)(7,047)

Increase (Decrease) in Deposits Received

預り金の増減額(12,614)(2,859)Other, Net

その他

466

(6,353)S ubtotal

小計(22,482)8,541Interest and Dividends Income Received

利息及び配当金の受取額Interest Expenses Paid

利息の支払額Income Taxes Paid
Net Cash Provided by (used in) Operating Activities

294329(3,456)(3,272)

法人税等の支払額(9,600)(6,182)

営業活動によ る キ ャ ッシュ ・ フロ ー(35,244)

(583)

(10)

II. Net Cash Provided by (Used in) Investment Activities
Purchase of Investment Securities

投資有価証券の取得による支出(10)

Proceeds from Sales and Liquidation of Investment Securities

投資有価証券の売却及び清算による収入

56

5

Purchase of Property, Plant and Equipment and Intangible Assets

有形及び無形固定資産の取得による支出(1,726)(1,519)Proceeds from Sales of Property, Plant and Equipment and Intangible Assets

有形及び無形固定資産の売却による収入-

18

Collection of Loans Receivable

貸付金の回収による収入

6

5

Payments for Lease and Guarantee Deposits

敷金及び保証金の差入による支出

(117)

(128)

Proceeds from Collection of Lease and Guarantee Deposits

敷金及び保証金の回収による収入

341

149

Repayments of Lease and Guarantee Deposits Received

受入敷金保証金の返還による支出(1,896)(415)

Proceeds from Lease and Guarantee Deposits Received

受入敷金保証金の受入による収入

308

512

Other, Net

その他

315402

投資活動によ る キ ャ ッシュ ・ フロ ー(2,721)(980)

Net Increase (Decrease) in Short-term Loans Payable

短期借入金の純増減額(16,000)

16,150

Repayments of Finance Lease Obligations

ファイナンス・リース債務の返済による支出

Proceeds from Long-term Loans Payable

Net Cash Provided by (Used in) Investment Activities
III. Net Cash Provided by (Used in) Financing Activities

(32)

(46)

長期借入れによる収入

16,000500

Repayment of Long-term Loans Payable

長期借入金の返済による支出(10,798)(20,501)

Proceeds from Issuance of Common Stock

株式の発行による収入

00

Proceeds from Stock Issuance to M inority Shareholders

少数株主からの払込みによる収入-

5

Purchase of Treasury Stock

自己株式の取得による支出-(0)

Cash Dividends Paid

配当金の支払額(2,379)(2,380)Cash Dividends Paid to M inority Shareholders

少数株主への配当金の支払額

(25)

(17)

Net Cash Provided by (Used in) Financing Activities

財務活動によ る キ ャ ッシュ ・ フロ ー

(13,236)(6,289)Ⅳ. Net Increase (Decrease) in Cash and Cash Equivalents

現金及び現金同等物の増減額(51,202)(7,853)

Ⅴ. Cash and Cash Equivalents at Beginning of Period

現金及び現金同等物の期首残高

82,06570,456

Ⅵ. Cash and Cash Equivalents at End of Period

現金及び現金同等物の期末残高

30,86362,6027