Consolidated Financial Results
for the Fiscal Year Ended March 31, 2018
(Based on Japanese GAAP)(Translation of Japanese Financial Summary, Released on May 8, 2018)
Company name: Sun Frontier Fudousan Co., Ltd.
Stock listing: Tokyo Stock Exchange 1st Section
Code number: 8934
URL: http://www.sunfrt.co.jp/en/
Address: 14F, Toho Hibiya Building, 2-2, Yurakucho 1-chome, Chiyoda-ku, Tokyo 100-0006
Representative: Tomoaki Horiguchi, President
Inquiries: Yasushi Yamada, Managing Director(Phone: +81-3-5521-1301)*Amounts under one million yen have been rounded down.

1. Consolidated Performance in the Fiscal Year Ended March 31, 2018
(1) Operating results*Percentage figures shown under net sales, operating income, ordinary income, and net income columns indicate
year-on-year changes for those items.
(“¥” indicates millions of yen, except for per share figures.)

Net Sales

Operating Income

Ordinary Income

FY ended March 31, 2018

¥47,46317.5%¥11,23919.8%¥10,755

20.9%

FY ended March 31, 2017¥40,39431.9%¥9,38027.0%¥8,894

26.6%Note) Comprehensive Income: FY Ended March 31 2018: ¥7,361 million (up 11.5%)FY Ended March 31 2017: ¥6,601 million (down 18.9%)

Net Income

Net Income per Share(Yen)

Fully Diluted
Net Income per Share(Yen)FY ended March 31, 2018

¥7,42015.0%¥167.62¥ －FY ended March 31, 2017

¥6,452(20.9%)¥150.92¥ －Reference) Income on investments based on equity method: FY Ended March, 2018: (¥26 million)
FY Ended March, 2017: (¥4 million)(2) Financial Position (at end of the term)(“¥” indicates millions of yen)

Total Assets

Net Assets

Equity Ratio (%)

FY ended March 31, 2018

¥91,761¥48,84953.2%

FY ended March 31, 2017

¥63,654¥35,686

56.0%

Reference) Shareholders’ Equity at term-end: FY Ended March, 2018: ¥48,847 million
FY Ended March, 2017: ¥35,675 million(3) Cash Flows(“¥” indicates millions of yen)

Cash Flows fromOperating Activities

Cash Flows from
Investing Activities

Cash Flows from
Financing Activities

Cash and Cash
Equivalents atYear-End

FY ended March 31, 2018(¥6,989)(¥2,443)¥17,235¥22,682

FY ended March 31, 2017

¥4,353(¥4,764)¥1,984¥14,87112. Cash Dividends(“¥” indicates millions of yen)

Cash Dividends per Share (Yen)
3rd
2nd
1stquarter quarter quarter
period period period

Payout ratio

Net asset

YearendAnnual Total Dividends (Consolidated) dividend rate(Consolidated)total

FY Ended March 31, 2017

-

0.00

-

30.00

30.00

¥1,282

19.9%

3.9%

FY Ended March 31, 2018

-

0.00

-

33.50

33.50

¥1,633

20.0%

3.6%

FY Ended March 31, 2019
(Forecast)

-

0.00

-

34.50

34.50

20.5%

3. Forecast for Consolidated Financial Results for the Fiscal Year Ending March 31, 2019
(From April 1, 2018 to March 31, 2019) *Percentage figures indicate year-on year changes for those items.

(“¥” indicates millions of yen, except for per share figures.)

Net Sales
FY Ending March31, 2019

¥58,000

22.2%

Operating Income¥12,300

9.4%

Ordinary Income¥11,800

9.7%

Net Income¥8,20010.5%

Net Incomeper Share¥168.38

4. Others(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes
in scope of consolidation): None
New companies: —Excluded companies: —(2) Changes in accounting principles, procedures and presentation methods
1) Changes caused by revision of accounting standards: None
2) Changes other than those included in 1): None
3) Changes in accounting estimates: None
4) Restatement of corrections: None
(3) Number of shares issued and outstanding (common shares)
1) Number of shares issued and outstanding at the end of the period (including treasury stock):
FY ended March 31, 2018: 48,755,500 shares
FY ended March 31, 2017: 42,755,500 shares
2) Number of treasury stock at the end of period:
FY ended March 31, 2018: 56,643 shares
FY ended March 31, 2017: 143 shares3) Weighted average number of shares for the period:
FY ended March 31, 2018: 44,268,415 shares
FY ended March 31, 2017: 42,755,357 shares

2Reference: Overview of Non-consolidated Performance
1. Non-consolidated Performance in FY ended March 31, 2018(from April 1, 2017 to March 31, 2018)(1) Operating Results*Percentage figures shown under net sales, operating income, ordinary income, and net income columns indicate
year-on-year changes for those items.
(“¥” indicates millions of yen, except for per share figures.)
Net Sales

Operating Income

Ordinary IncomeNet Income

FY Ended March, 2018¥44,25414.9%¥11,22220.9%¥10,761

22.0%¥7,444

16.9%

FY Ended March, 2017¥38,50429.9%¥9,28626.6%¥8,81826.6%¥6,366(21.7%)Net Incomeper Share (Yen)

Fully Diluted Net
Income per Share (Yen)FY Ended March, 2018

¥168.16-

FY Ended March, 2017¥148.90-(2) Financial Position(“¥” indicates millions of yen)
Net Assets per Share
Equity Ratio (%)(Yen)

Total Assets

Net Assets

FY Ended March, 2018¥89,467¥48,50254.2%¥995.97

FY Ended March, 2017

¥62,363¥35,25256.5%¥824.52Reference) Shareholders’ Equity at term-end: FY Ended March, 2018: ¥48,502 million
FY Ended March, 2017: ¥35,252 million※This Summary of Consolidated Financial Results is not subject to review processes under the Financial
Instruments and Exchange Act.
※Appropriate use of business forecasts; other special items
Business forecasts contained in this report are based on information available to the company on the dateof this report’s announcement and assumptions deemed reasonable. The company provides no assurance
that the forecasts will be achieved. Actual results may differ significantly from such forecasts due tounforeseen circumstances.

3