Consolidated Financial Results for Fiscal 2021 (Year ended March 31, 2022)
May 12, 2022

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 of Fiscal 2021 (Year ended March 31, 2022)(1) Consolidated financial results (Amounts less than one million yen, except for per share amounts, are omitted.)
Revenue from operations%

Millions of yen

Fiscal 2021
Fiscal 2020

Operating income

939,430
917,472%

Millions of yen

2.4233,882
219,244(9.5)

Profit attributable toowners of parent

Ordinary profit%

Millions of yen

6.7

225,115
209,949

(6.4)

7.2
(4.8)

%

Millions of yen

150,452
141,389

6.4
0.3

Notes 1: Comprehensive Income
FY 2021: 151,408 millions of yen, (32.8%); FY 2020 : 225,376 millions of yen, 108.6%
2: Percentages represent changes compared with the previous year.

Fiscal 2021
Fiscal 2020

Ratio of ordinary
profit to averageassetsReturn on average
equityEarnings per share

Operating income
marginYen%%%317.45298.33

9.6
10.1

3.93.824.9
23.9

Note: Average number of shares issued and outstanding (consolidated)
FY 2021 : 473,939,017 shares; FY 2020 : 473,939,372 shares(2) Consolidated financial position (Amounts less than one million yen, except for per share amounts, are omitted.)
Total assets
Fiscal 2021
Fiscal 2020

Shareholders' equity

Shareholders' equity ratio

Shareholders' equity
per share

Millions of yen

Millions of yen%Yen

5,806,040
5,673,666

1,634,049
1,503,021

28.1
26.5

3,447.81
3,171.34

Note: Number of shares issued and outstanding (consolidated)
As of Mar 31, 2022 : 473,938,956 shares; As of Mar 31, 2021 : 473,939,053 shares

2. Dividend Position
InterimFiscal 2021
Fiscal 2020
Forecast for Fiscal 2022

Dividend per share
Year end

AnnualAmount of dividend(Annual)Dividend payout ratio(Consolidated)

Dividend on equity ratio(Consolidated)

Yen

Yen

Yen

Millions of yen

%%

22.00
19.00
24.00

23.00
21.00
26.00

45.00
40.00
50.00

21,327
18,957

14.2
13.4
14.8

1.4
1.4

3. Forecast for Fiscal 2022 (Year ending March 31, 2023)

Fiscal 2022

Revenue from operations

Operating income

Ordinary profit

Profit attributable toowners of parent

Millions of yen

Millions of yen

Millions of yen

Millions of yen

950,000

240,000

235,000

160,000

Note: The foregoing estimates are based on information available as of the date this data was released, and actual results may differ from estimates due to various
arising in the future.

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

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

Fiscal 2020

Fiscal 2021

398,237
263,394
188,70765,792
1,339
917,472

425,081
233,788
204,361
73,484
2,714
939,430

Increase(Decrease)+26,844(29,606)+15,654+7,691+1,374+21,958

Forecast for
Fiscal 2022
430,000
220,000
220,000
78,0002,000
950,000

Increase(Decrease)+4,918(13,788)+15,638+4,515―+10,569

Increase(Decrease)+7,404(3,445)+2,957+6,545+1,177+14,638

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

Increase(Decrease)+2,350(485)+2,476+1,974―+6,117(2) Operating income

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

Fiscal 2020

Fiscal 2021

155,245
53,931
15,565
11,480(16,978)
219,244

162,649
50,485
18,52318,025(15,801)
233,882

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

Millions of yen
March 31,2022

AssetsMarch 31,2021

Current assets:\Cash, time and notice deposits

151,392\188,340

Accounts receivable―trade23,28518,713

Real estate for sale308,155

260,824

Real estate for sale in process

394,921366,596

Costs on uncompleted construction contracts

8,210

8,637Other inventories

1,163

743

Other current assets

54,447

68,377(43)(37)

941,534

912,196

Buildings and structures, net

1,114,725

1,112,537

Land

2,847,702

2,778,474

Construction in progress

139,859

107,849

Other property and equipment, net

12,02813,306

4,114,316

4,012,168

Leasehold rights

61,80260,161Other intangible assets

2,191

2,249

63,99462,411

Investment securities

573,503

574,136

Guarantee and lease deposits paid to lessors

66,99368,743

Deferred income taxes

11,456

11,071

Net defined benefit asset

257－

34,64135,023(658)(2,084)

Total investment and other assets

686,194

686,890

Total fixed assets

4,864,505

4,761,469

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

Total Property and equipment
Intangible assets

Total intangible assets
Investment and other assets

Other investments
Allowance for doubtful accounts

Total assets\5,806,040\5,673,666

Millions of yen
March 31,2022

Liabilities and Net Assets

March 31,2021

Current liabilities:
Notes and accounts payable―trade\42,307\24,696

Short-term debt

28,61026,620Long-term debt due within one year

237,385

191,446

Long-term non-recourse loans due within one year

4,786

14,844

Commercial paper

40,000120,000

Corporate bonds due within one year

－20,000

Non-recourse bonds due within one year

－

1,500

Accrued income taxes

40,14440,741

Deposits received

55,15565,964

Accrued bonuses

5,803

4,023

185,836

152,123

640,029

661,959

Corporate bonds

290,000

250,000

Non-recourse bonds

35,60035,6002,667,324

2,640,210

Long-term non-recourse loans

256,287

261,073

Net defined benefit liability

5,796

5,258

249,275

258,219

Long-term deposits received

8,764

27,932Other long-term liabilities

18,91230,392

Total long-term liabilities

3,531,960

3,508,685

Total liabilities

4,171,990

4,170,645

Capital122,805

122,805

Capital surplus

104,153

104,153

Retained earnings

1,256,742

1,126,669(4,475)(4,475)

1,479,226

1,349,153

155,863

160,440704(2,988)Foreign currency translation adjustments(1,449)(4,265)Remeasurements of defined benefit plans

(294)

681

Total accumulated other comprehensive income

154,823

153,867

Total net assets

1,634,049

1,503,021

Other current liabilities
Total current liabilities
Long-term liabilities:

Long-term debt

Guarantee and lease deposits received

Net assets:
Shareholders' equity

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

Total liabilities and net assets\5,806,040\5,673,666

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

Millions of yen
Fiscal year ended March 31,2022\Revenue from operations

2021

939,430\917,472

Cost of revenue from operations

636,987

629,564

Gross profit

302,442

287,907

Selling, general and administrative expenses

68,56068,663Operating income

233,882

219,244

Interest and dividend income

12,792

11,835

Other non-operating income

1,463

2,041

14,255

13,877

Interest expense

18,03318,317

Other non-operating expenses

4,989

4,854

23,02323,172

225,115

209,949

Gain on sale of property and equipment

97536

Gain on sale of investment securities

2,426

13,1152,524

13,652

3,453

3,876

0－

Loss on disposal of property and equipment

4,014

7,890

Loss on devaluation of investment securities

1,160489

Loss on sale of investment securities

1312

Loss related to COVID-19－629

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
Loss on sale of property and equipment

Other extraordinary losses

355

44

8,986

13,242

Income before income taxes

218,653

210,359

Income taxes

68,201

68,970

Profit150,452

141,389－－

Total extraordinary losses

Profit attributable to non-controlling interests
Profit attributable to owners of parent\150,452\141,389

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

Millions of yen
Fiscal year ended March 31,2022\Profit2021

150,452\141,389

Other comprehensive income (loss)
Net unrealized holding gains (losses) on securities(4,577)

Net deferred gains (losses) on hedges3,693

571

Foreign currency translation adjustments

2,815(1,547)

Remeasurements of defined benefit plans

(976)

858

956

83,987

151,408

225,376

151,408

225,376－－

Total other comprehensive income (loss)
Comprehensive income

84,105Comprehensive income attributable to:
Owners of the parent
Non-controlling interests

Fair Value of Investment and Rental Properties
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries

Millions of yen

As of March 31, 2021

As of March 31, 2022
Carrying
amountInvestment and rental Properties\3,945,067

CarryingamountFair value\7,440,041\3,838,536

Fair value\7,271,168