Summary of Accounts for First Three Quarters of Fiscal Year Ending December 2018
(Japanese GAAP) (Consolidated)
November 9, 2018
Listing exchange: Tokyo Stock Exchange
URL: https://www.es-conjapan.co.jp
President & Representative Director
Senior Managing Director TEL: 06 (6223) 8055
November 9, 2018－
No
No

Name of listed company: ES-CON JAPAN Ltd.
Code:
8892
Representative:(Name) Takatoshi Ito(Position)
Contact for inquiries:(Name) Minoru Nakanishi(Position)
Scheduled date for submission of periodic securities report:
Scheduled date for start of dividend payment:
Supplementary explanatory materials created for accounts? Yes/No:
Accounts briefing meeting held?
Yes/No:(Amounts are rounded down to the nearest million yen)

1.

Consolidated results for first three quarters of fiscal year ending December 2018 (from January 1, 2018 to September
30, 2018)(1) Consolidated operating results(% figures show the rate of increase (decrease) compared with the same period of the previous year)

Net sales
million yen

Operating income%

million yen

First three quarters of fiscal
36,031
85.6
year ending Dec. 2018
First three quarters of fiscal
19,41412.9
year ended Dec. 2017
Note:
Comprehensive income
First three quarters of fiscal
year ending Dec. 2018:
4,010 million yen%

million yen%

million yen

%

6,682

104.0

5,907

131.6

4,018

59.3

3,276

39.9

2,550

56.8

2,522

22.5

[59.5%]

Dilutedearnings per share

yen

yen

58.96

58.67

37.93

36.96

(2) Consolidated financial position
Total assets

Net assets

million yen

First three quarters of fiscal
101,003
year ending Dec. 2018
Fiscal year ended Dec. 201786,435
Reference: Equity
First three quarters of fiscal
year ending Dec. 2018:24,141 million yen
2.

First three quarters of fiscal
year ended Dec. 2017:
2,514 million yen [21.4%]

Basicearnings per shareFirst three quarters of fiscal
year ending Dec. 2018
First three quarters of fiscal
year ended Dec. 2017

Profit attributable toowners of parent

Ordinary income

Equity ratio

Book value per share

million yen%

yen

24,14223.9

353.77

21,43324.8

315.14

Fiscal year ended Dec. 2017: 21,432 million yen

Dividends
End ofsecond quarter

Annual dividend
End ofthird quarter

yen

yen

yen

yen

yen

Fiscal year ended Dec. 2017－
Fiscal year ending Dec. 2018－
Fiscal year ending Dec. 2018
(Forecast)(Note) Revisions from latest dividends forecast: None

0.00
0.00

－
－

18.00

18.00

26.00

26.00

End offirst quarter

3.

Year-end

Total

Consolidated earnings forecast for fiscal year ending December 2018 (from January 1, 2018 to December 31, 2018)(% figures for the full fiscal year show the rate of increase (decrease) compared with the previous period, and % figures for the
first three quarters show the rate of increase (decrease) compared with the same period of the previous fiscal year)

Operating income

Ordinary income

Profit attributable to
Basicowners of parent earnings per share

million yen%

million yen%

million yen%

yen

Full fiscal year
55,00023.0
11,30060.5(Note) Revisions from latest earnings forecast: None

10,200

70.3

7,000

28.3

102.68Net sales
million yen%

*Explanatory notes(1) Changes in significant subsidiaries during the first three quarters(Changes in specified subsidiaries resulting in change in scope of consolidation):
Newly included: － companies (Company name) －－ companies (Company name) －Excluded:None(2) Application of accounting treatments specific to preparation of quarterly consolidated financial statements:(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to amendment of accounting standards, etc.:
2) Changes in accounting policies other than 1):
3) Changes in accounting estimates:
4) Restatement:

None

Yes
None
None
None

(4) Number of shares issued and outstanding (common shares)
First three quarters
1) Number of shares issued and outstanding
71,631,387 Fiscal year ended 71,203,387
of fiscal year(including treasury shares) at end of period
shares Dec. 2017
sharesending Dec. 2018
First three quarters
3,390,900 Fiscal year ended 3,195,300
2) Number of treasury shares at end of period of fiscal year
shares Dec. 2017
sharesending Dec. 2018
First three quarters
First three quarters
68,152,350
66,493,599
3) Average number of shares during periodof fiscal yearof fiscal year
sharessharesending Dec. 2018
ended Dec. 2017
Note: The number of treasury shares at end of period includes ES-CON JAPAN shares held in a share-based
payment benefits trust for directors and a share-based payment benefits type ESOP trust (first three quartersof fiscal year ending December 2018: 543,200 shares in the share-based payment benefits trust for directors
and 234,300 shares in the share-based payment benefits type ESOP trust). In the calculation of the average
number of shares during period (cumulative total of first three quarters), the treasury shares to be subtracted
in that calculation includes ES-CON JAPAN shares held in the share-based payment benefits trust for
directors and the share-based payment benefits type ESOP trust (first three quarters of fiscal year ending
December 2018: 777,805 shares).
*This quarterly summary of accounts is not subject to quarterly review of certified public accountant or Audit
Corporation.

*

Explanation regarding appropriate use of earnings forecasts, and other notes
The earnings outlook and other forward-looking statements contained in this document are based on information
currently available to and certain assumptions that are thought to be reasonable by ES-CON JAPAN. Accordingly,
actual business performance and other results may differ materially due to various reasons. For the conditions
forming the assumptions on which earnings forecasts are based and explanatory notes for use of earnings forecasts,
etc., please see “Attachment; 1. Qualitative Information on Quarterly Results; (3) Explanation of Consolidated
Earnings Forecast and Other Forward-Looking Information” on page 4.

○Contents of Attachment
1. Qualitative Information on Quarterly Results ................................................................................................................... 2(1) Explanation of Operating Results ............................................................................................................................... 2(2) Explanation of Financial Position ................................................................................................................................ 4(3) Explanation of Consolidated Earnings Forecast and Other Forward-Looking Information ......................................... 4
2. Quarterly Consolidated Financial Statements and Key Notes ........................................................................................... 5(1) Quarterly Consolidated Balance Sheet ........................................................................................................................ 5(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income ...... 7(Quarterly Consolidated Statement of Income) .............................................................................................................. 7(Quarterly Consolidated Statement of Comprehensive Income) .................................................................................... 8(3) Notes to Quarterly Consolidated Financial Statements .............................................................................................. 9(Notes on Going Concern Assumption).......................................................................................................................... 9(Notes on Substantial Changes in the Amount of Shareholders’ Equity) ....................................................................... 9(Changes in accounting policies) ................................................................................................................................... 9(Segment Information, etc.) ......................................................................................................................................... 10
3. Other ............................................................................................................................................................................. 11
Status of Contracts and Sales ...................................................................................................................................... 11-1-

Attachment
1. Qualitative Information on Quarterly Results(1) Explanation of Operating Results
ES-CON JAPAN Ltd. (ES-CON JAPAN or the Company) concluded a business partnership agreement with
Chubu Electric Power Co., Inc. (Chubu Electric Power) as of August 28, 2018, based on the resolution made at theCompany's board of directors meeting held on the same day.
The agreement is aimed at maximizing the corporate value of both companies, as it can generate synergistic
effects by taking advantage of our strengths regarding planning and operational expertise, etc. in the real estatebusiness, and utilizing the strengths of the Chubu Electric Power Group in energy supply, customer bases in the
Chubu region and know-how in facility construction works it has fostered through its electric power business, etc.
In terms of capital structure, ESCON-JAPAN became an equity-method affiliate of Chubu Electric Power, as thelatter acquired 22,980,000 shares of the former from Mr. Kouryu Oh, the largest and major shareholder, Tenma
Seiryu Co., Ltd., a major shareholder, and two other shareholders of the Company.
The tables below indicate the status of our major shareholders as of June 30 2018 and September 30, 2018,
respectively.
<as of June 30, 2018 >Name

No. of shares owned (shares)

Ownership ratio (%)

Kouryu Oh

10,600,000

14.8

Tenma Seiryu Co., Ltd.

9,000,000

12.6

Nissei Build Kogyo Co., Ltd.

6,500,000

9.1

San Ai Housing Corp.

6,090,000

8.5

Seiryu Asset Management Co., Ltd.

3,000,000

4.2<as of September 30, 2018 >Name

No. of shares owned (shares)

Ownership ratio (%)

Chubu Electric Power Co., Inc.

22,980,000

32.1

Nissei Build Kogyo Co., Ltd.

6,500,000

9.1

Tenma Seiryu Co., Ltd.

3,610,000

5.0

Kouryu Oh

2,100,000

2.9

1,506,900

2.1Japan Trustee Services Bank, Ltd. (Trust
Account)(Note) Aside from the above, the Company owns its treasury shares totaling 2,613,400 shares.
ES-CON JAPAN will focus on the following initiatives through the business partnership with Chubu ElectricPower.
1. Initiatives on businesses that should make significant social contributions, such as urban development andregional revitalization
Taking advantage of the Company's planning and operational expertise in its real estate businesscombined with Chubu Electric Power's deep relationship with local residents should allow the Chubu
Electric Power Group to conduct urban development and provide new communities to local residents.
2. Reinforcement of business foundation and enhancement of corporate value by mutually complementing
business areas and real estate business domains
In terms of the real estate business, the Chubu Electric Power Group is involved mainly in real estateleasing primarily in the Chubu region, while ES-CON JAPAN mainly conducts sales of for-salecondominiums and real estate for lease in major cities in the Tokyo metropolitan area, Kansai region andFukuoka. Making the utmost of the high complementarity in their business areas and real estate businessdomains, the two companies will jointly conduct real estate operations as well as endeavor to expand theirbusiness domains and reinforce their business foundation in an effort to further enhance respective
corporate value.
-2-

In the first three quarters, the Japanese economy showed potential to maintain a moderate recovery due in part tovarious governmental measures proving effective amid ongoing improvement in the employment and income situation.
The economic outlook remains clouded, however, as the situation calls for attention to the impact of higher crude oil
prices and trade issues on the world economy, uncertainties in overseas economies, the effects of fluctuations in thefinancial and capital markets and the impact of natural disasters, among other factors.
The real estate industry in which the ES-CON JAPAN Group operates held resilient and firm due in part to low interest
rates from monetary easing policies, but the situation warrants no optimism because of such factors as a rise in land
prices, intensified competition over land acquisitions, the risk of higher interest rates and the consumption tax rate hike.
In the business environment described above, we proactively developed multifaceted businesses based on thesecond medium-term management plan “IDEAL to REAL 2019” which started from the fiscal year ended December
2017.
In the real estate sales business, which is our core business, we conducted income-generating real estate sales,
etc., and made steady progress in condominium sales, too.
In for-sale projects, construction completed in the period under review for “Feel Garden MinamiSenri (Suita City,
Osaka Prefecture; 214 units in total),” “Le JADE Southern Gate Toyoda (Hino City, Tokyo; 51 units in total),” “Le JADE
Kawasaki (Saiwai Ward, Kawasaki City; 79 units in total)” and “Le JADE Minamimorimachi (Kita Ward, Osaka City; 29
units in total),” which were sold out upon completion. Progress is being made steadily for such for-sale projects as“Grand Le JADE Jiyugaoka (Meguro Ward, Tokyo; 23 units in total),” “Le JADE Nakano (Nakano Ward, Tokyo; 25units in total)” and “Le JADE Bio Funabashi Kitanarashino (Funabashi City, Chiba Prefecture; 50 units in total),” while“Grand Le JADE Okamoto (Higashi-Nada Ward, Kobe City; 18 units in total),” which is scheduled for completion in thecurrent fiscal year, contracted to sell out.
In the commercial development business, the first-phase development of tonarie Yamato-Takada Development
Project, a retail property in Yamato-Takada City, Nara Prefecture, has progressed smoothly. The property isscheduled to open on November 23, 2018 at full occupancy with tenants totaling 68 stores.
Furthermore, to promote diversification of for-sale projects, ES-CON JAPAN has participated in a reconstruction
project of “Le JADE Kuzuha (Hirakata City, Osaka Prefecture; 78 units in total)” as a member of condominium
reconstruction association and has started sales. Moreover, ES-CON JAPAN has launched a land readjustment
project to develop a distribution and industrial center (Koga City, Fukuoka Prefecture; total development area ofapproximately 80,000 tsubo) as well as a logistics project to develop a logistics facility (Kato City, Hyogo Prefecture;building area of approximately 42,000 m 2; scheduled to be completed in September 2019).
Moreover, we have placed our focus on hotel development projects incorporating inbound tourism needs. In the
period under review, 11 projects are underway in Tokyo, Osaka, Kanazawa and Fukuoka, 6 projects started
operations in Chuo Ward, Osaka City, Chiyoda Ward, Tokyo and Kanazawa City, Ishikawa Prefecture, sales
contracts were newly concluded for 7 projects, and sales completed for 4 projects.
As such, ES-CON JAPAN conducted business operations in a steady and proactive manner, acquiring new
business sites for 6 projects in the Tokyo metropolitan area, 10 projects in the Kinki area and 3 projects in other areasin the first three quarters, to be used as the site for for-sale, commercial and other multifaceted development.
In the real estate leasing business, efforts are being made to secure stable rental income from retail properties heldby ES-CON JAPAN and to enhance their asset value.
In the real estate planning agency and consulting business, focus is placed on being a business achieving highprofit margins through subcontracting, planning agency and consulting and other non-assets by leveraging theplanning and other strengths of ES-CON JAPAN.
We have set a new goal to “realize the creation of new value and sustainable growth with the promotion of ESG” in
our growth strategy in the second medium-term management plan “IDEAL to REAL 2019,” and endeavor to reinforce
our activities related to ESG awareness. As part of such activities, we have started initiatives to apply theenvironmentally-friendly Net Zero Energy House (ZEH) concept to the for-sale condominiums we develop, andcommenced joint research with Tokyo University of Science regarding environmental design systems. With these
efforts, we will work to enhance our corporate value from the criteria of “environment, society and governance”
awareness.
As a result, ES-CON JAPAN achieved net sales of 36,031 million yen (up 85.6%), operating income of 6,682 million
yen (up 104.0%), ordinary income of 5,907 million yen (up 131.6%) and profit attributable to owners of parent of 4,018
million yen (up 59.3%) for the first three quarters, all compared with the same period of the previous year.
-3-

The following describes the business performance by each segment, with figures compared with the same period of
the previous year.
1)

Real estate sales businessIn the real estate sales business, activities included promoting condominium sales and selling real estate for saleand real estate for sale in process, resulting in net sales of 33,225 million yen (up 98.3%) and segment income of
7,195 million yen (up 85.7%).
2)

Real estate leasing businessIn the real estate leasing business, focus was placed on leasing activities and the property management businessin view of enhancement of asset value, including increase in rental income of owned revenue-generating real estate,
resulting in net sales of 2,448 million yen (down 6.0%) and segment income of 1,532 million yen (up 20.6%).
3)

Real estate planning agency and consulting businessIn the real estate planning agency and consulting business, proactive efforts were made in such aspects as
entrustment with planning, consulting and other services by making best use of planning and multifaceted businessbuilding abilities, resulting in net sales of 357 million yen (up 557.2%) and segment income of 326 million yen (up567.7%).
(2) Explanation of Financial Position
Assets at the end of the first three quarters increased by 14,568 million yen compared with the end of the previous
fiscal year to 101,003 million yen. This was mainly attributable to cash and deposits increasing by 3,579 million yen
and inventories increasing by 11,964 million yen, respectively.
Liabilities increased by 11,858 million yen compared with the end of the previous fiscal year to 76,860 million yen.
This was mainly attributable to long-term loans payable, short-term loans payable and bonds payable increasing by
11,120 million yen.
Net assets increased by 2,709 million yen compared with the end of the previous fiscal year to 24,142 million yen.
This was attributable to recording profit attributable to owners of parent of 4,018 million yen, against cash dividends
paid of 1,238 million yen and purchase of treasury shares of 131 million yen. As a result, equity ratio was 23.9%(24.8% at the end of the previous fiscal year).
(3) Explanation of Consolidated Earnings Forecast and Other Forward-Looking Information
The consolidated earnings forecast remains unchanged from the forecast announced on June 29, 2018.

-4-

2. Quarterly Consolidated Financial Statements and Key Notes(1) Quarterly Consolidated Balance Sheet

Fiscal year ended
Dec. 2017(as of Dec. 31, 2017)
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Real estate for sale
Real estate for sale in process
Supplies
Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Land
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-5-(Unit: million yen)First three quarters offiscal year ending
Dec. 2018(as of Sept. 30, 2018)

10,667497
4,162
60,0570
5,118
80,504

14,247363
5,632
70,552
0
5,333
96,129

1,476
(410)
1,066
623
147
(107)
39
1,729

1,494
(449)
1,044
623
150
(110)
40
1,707

28
28

23
23

4,177
(4)
4,173
5,930
86,435

3,146
(4)
3,142
4,873
101,003

Fiscal year ended
Dec. 2017(as of Dec. 31, 2017)
Liabilities
Current liabilities
Short-term loans payable
Current portion of long-term loans payable
Current portion of bonds
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Provision for directors’ share-based benefits
Provision for share-based benefits
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Total accumulated other comprehensive income
Subscription rights to shares
Total net assets
Total liabilities and net assets-6-(Unit: million yen)First three quarters offiscal year ending
Dec. 2018(as of Sept. 30, 2018)

1,953
22,46240
467
7,740
32,664

5,491
26,22240
328
8,608
40,690110
31,87482
18
93
158
32,33765,002

270
35,537
98
22
101
140
36,17076,8606,224
1,953
14,322(1,089)21,411

6,258
1,987
17,103(1,220)24,12820
20
121,43386,43512
12
124,142
101,003(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income(Quarterly Consolidated Statement of Income)First three quarters offiscal year ended
Dec. 2017(from Jan. 1, 2017
to Sept. 30, 2017)19,414
13,548
5,865
2,588
3,276

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Penalty income
Reversal of allowance for doubtful accounts
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of non-current assets
Gain on reversal of subscription rights to shares
Total extraordinary income
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent-7-(Unit: million yen)First three quarters offiscal year ending
Dec. 2018(from Jan. 1, 2018
to Sept. 30, 2018)36,031
25,567
10,464
3,781
6,682

0
2
18
29
1
51

0
2
6
－
1
10

770
6
777
2,550

764
21
785
5,907

11
－
11

－
0
0

0
0
2,561
41
(1)
39
2,522
2,522

4
4
5,903
535
1,349
1,884
4,018
4,018

(Quarterly Consolidated Statement of Comprehensive Income)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-8-First three quarters offiscal year ended
Dec. 2017(from Jan. 1, 2017
to Sept. 30, 2017)
2,522(Unit: million yen)First three quarters offiscal year ending
Dec. 2018(from Jan. 1, 2018
to Sept. 30, 2018)
4,018

(7)
(7)
2,514

(7)
(7)
4,010

2,514
－

4,010
－

(3) Notes to Quarterly Consolidated Financial Statements(Notes on Going Concern Assumption)
Not applicable.
(Notes on Substantial Changes in the Amount of Shareholders’ Equity)
In the first three quarters, there were share-based payments of 900 shares to eligible parties from the share-based
payment benefits type ESOP trust. In addition, purchase of treasury shares of 196,500 shares was made byresolution at the meeting of the board of directors held on December 1, 2017. As a result, treasury shares increased
by 130 million yen, resulting in treasury shares at the end of the first three quarters of 1,220 million yen.
(Changes in accounting policies)(Application of Practical Solution on Transactions Granting Employees and Others Stock Acquisition Rights, which
Involve Considerations, with Vesting Conditions)
By applying “Practical Solution on Transactions Granting Employees and Others Stock Acquisition Rights, which
Involve Considerations, with Vesting Conditions” (Practical Issues Task Force (PITF) No. 36, January 12, 2018; the“PITF No. 36”), etc. on and after April 1, 2018, transactions granting employees and others stock acquisition rights,
which involve considerations, with vesting conditions will be treated in accordance with “Accounting Standard for
Share-based Payment” (Accounting Standards Board of Japan “ASBJ” Statement No. 8, December 27, 2005).
However, application of PITF No. 36 follows transitional treatment set forth in Paragraph 10-(3) of PITF No. 36, andtransactions granting employees and others stock acquisition rights, which involve considerations which took placeprior to the date of application date are treated in accordance with the former accounting treatment.

-9-

(Segment Information, etc.)[Segment Information]
I. First Three Quarters of Fiscal Year Ended December 2017 (from January 1, 2017 to September 30, 2017)
1. Information on Net Sales and Income or Loss Amounts by Reporting Segment(Unit: million yen)Amount on
Reporting segment
quarterly
Real estate
Reconciliation consolidated
Real estate
Real estate
Total
planning agency(Note 1)statement ofsales
leasing
incomeand consulting
businessbusinessbusiness(Note 2)
Net sales
Net sales toexternal customers
Intersegment net
sales or transfers
Total
Segment income

16,7542,605

54

19,414－

19,414

－

－

－

－

－

－

16,7542,605

54

19,414－

19,414

3,875

1,270

48

5,194

(1,918)3,276(Note 1) The reconciliation of segment income of -1,918 million yen is corporate expenses not attributable to any
reporting segment. Corporate expenses are general and administrative expenses not attributable to reporting
segments.
(Note 2) Segment income is reconciled with operating income on the quarterly consolidated statement of income.
2. Information on Impairment Loss on Non-Current Assets or Goodwill, etc. by Reporting Segment
Not applicable.
II. First Three Quarters of Fiscal Year Ending December 2018 (from January 1, 2018 to September 30, 2018)
1. Information on Net Sales and Income or Loss Amounts by Reporting Segment(Unit: million yen)Amount on
Reporting segment
quarterly
Real estate
Reconciliation consolidated
Real estate
Real estate
Total(Note 1)statement ofplanning agency
sales
leasingand consulting
incomebusinessbusinessbusiness(Note 2)
Net sales
Net sales toexternal customers
Intersegment net
sales or transfers
Total
Segment income

33,2252,448

357

36,031－

36,031

－

－

－

－

－

－

33,2252,448

357

36,031－

36,031

7,195

1,532

326

9,054

(2,371)

6,682(Note 1) The reconciliation of segment income of -2,371 million yen is corporate expenses not attributable to any
reporting segment. Corporate expenses are general and administrative expenses not attributable to reporting
segments.
(Note 2) Segment income is reconciled with operating income on the quarterly consolidated statement of income.
2. Information on Impairment Loss on Non-Current Assets or Goodwill, etc. by Reporting Segment
Not applicable.

- 10 -

3. Other
Status of Contracts and Sales
The performance of contracts in the real estate sales business for the third quarter is as follows:
Third quarter of fiscal year ending Dec. 2018(from Jul. 1, 2018
to Sept. 30, 2018)
Classification
Contract amount during the period
Number of units(units)Balance of contracts at the end of the period

Amount(million yen)

Number of units(units)Amount(million yen)

Mid- to high-risehousing, etc.

220

9,337

382

17,338

Other

－

－

－

17,540

220

9,337

382

34,878

Total(Note)

The above amounts do not include consumption tax, etc.

The main performance of sales by segment for the first three quarters is as follows:First three quarters of fiscal year ending Dec. 2018(from Jan. 1, 2018
to Sept. 30, 2018)

Name of segment

Number of units(units)Property nameReal estate sales businessAmount(million yen)

Condominiums

429

19,220Awajimachi I, Chuo-ku

－

3,420

Awajimachi II, Chuo-ku

－

3,420

Horikawashinmachi,
Kanazawa-shi

－

2,030

31 Wakamatsucho, Shinjuku-ku

－

1,968

Minami-Senba III, Chuo-ku

－

1,850

－

1,317

429

33,2255-chome, Sendagaya,
Shibuya-ku
Subtotal
Real estate leasing business

2,448Real estate planning agency

357

and consulting business
Total(Note 1) There are no transactions between segments.
(Note 2) The above amounts do not include consumption tax, etc.

- 11 -

36,031