Consolidated Financial Report for FY2022
Ended March 31, 2023
Eleven-year Financial Summary | 01 |
Management's Discussion and Analysis | 03 |
Consolidated Financial Statements | |
Consolidated Balance Sheets | 05 |
Consolidated Statements of Income | 07 |
Consolidated Statements of Comprehensive Income | 07 |
Consolidated Statements of Changes in Net Assets | 08 |
Consolidated Statements of Cash Flows | 09 |
Notes to Consolidated Financial Statements | 10 |
Independent Auditor's Report | 30 |
Eleven-year Financial Summary
Eleven-year Financial Summary
Millions of yen | |||||||||||
FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | |
For the Year | |||||||||||
Revenue from operations | 736,652 | 780,273 | 806,835 | 854,964 | 925,151 | 948,402 | 1,012,198 | 1,013,513 | 917,473 | 939,431 | 939,905 |
Leasing | 278,317 | 283,730 | 289,117 | 313,340 | 337,466 | 353,881 | 381,764 | 395,592 | 398,238 | 425,082 | 425,369 |
Sales | 232,149 | 234,093 | 264,207 | 274,761 | 314,299 | 311,193 | 331,752 | 324,928 | 263,395 | 233,788 | 222,077 |
Construction | 171,082 | 201,190 | 188,995 | 199,115 | 203,623 | 209,356 | 221,693 | 218,931 | 188,708 | 204,362 | 213,584 |
Brokerage | 50,957 | 57,211 | 58,486 | 61,496 | 66,714 | 69,169 | 71,867 | 71,199 | 65,793 | 73,484 | 75,107 |
Cost of revenue from operations | 529,913 | 558,987 | 579,964 | 614,191 | 664,184 | 664,015 | 711,050 | 691,832 | 629,565 | 636,988 | 625,452 |
SG&A expenses | 55,394 | 60,815 | 60,976 | 66,532 | 72,796 | 78,750 | 81,759 | 87,349 | 68,664 | 68,560 | 73,179 |
% of revenue from operations | 7.5% | 7.8% | 7.6% | 7.8% | 7.9% | 8.3% | 8.1% | 8.6% | 7.5% | 7.3% | 7.8% |
Operating income | 151,345 | 160,471 | 165,895 | 174,241 | 188,171 | 205,637 | 219,389 | 234,332 | 219,244 | 233,883 | 241,274 |
% of revenue from operations | 20.5% | 20.6% | 20.6% | 20.4% | 20.3% | 21.7% | 21.7% | 23.1% | 23.9% | 24.9% | 25.7% |
Ordinary profit*1 | 114,916 | 130,537 | 139,055 | 148,424 | 167,697 | 186,871 | 203,227 | 220,521 | 209,950 | 225,115 | 236,651 |
Profit attributable to owners of parent | 59,825 | 69,697 | 80,567 | 87,798 | 103,489 | 119,731 | 130,103 | 140,997 | 141,389 | 150,452 | 161,926 |
Depreciation and amortization | 37,761 | 35,311 | 33,519 | 34,574 | 39,446 | 41,628 | 46,313 | 48,974 | 57,813 | 60,645 | 64,635 |
At Year-end | |||||||||||
Total assets | 4,105,500 | 4,220,429 | 4,523,804 | 4,675,915 | 4,980,040 | 5,167,199 | 5,130,120 | 5,317,623 | 5,673,666 | 5,806,040 | 6,365,436 |
Equity*2 | 627,012 | 707,948 | 832,462 | 888,100 | 1,007,347 | 1,114,975 | 1,202,104 | 1,295,000 | 1,503,021 | 1,634,049 | 1,799,372 |
Net interest-bearing debt | 2,424,932 | 2,652,929 | 2,875,660 | 2,971,667 | 3,101,162 | 3,210,302 | 3,170,595 | 3,245,547 | 3,372,953 | 3,408,600 | 3,752,902 |
Unrealized gains on investment and rental properties | 1,001,547 | 1,132,644 | 1,290,145 | 1,697,562 | 1,996,441 | 2,328,140 | 2,703,263 | 3,176,151 | 3,432,632 | 3,494,974 | 3,736,711 |
Per Share Amounts (Yen) | |||||||||||
Profit attributable to owners of parent | 126.18 | 147.02 | 169.97 | 185.23 | 218.34 | 252.62 | 274.51 | 297.5 | 298.33 | 317.45 | 341.66 |
Net assets | 1,322.52 | 1,493.48 | 1,756.25 | 1,873.71 | 2,125.36 | 2,352.53 | 2,536.40 | 2,732.41 | 3,171.34 | 3,447.81 | 3,796.64 |
Cash dividend applicable to the year | 20 | 20.00 | 21.00 | 22.00 | 24.00 | 27.00 | 30.00 | 35.00 | 40.00 | 45.00 | 52.00 |
Key Ratios | |||||||||||
Equity ratio (%) | 15.3 | 16.8 | 18.4 | 19.0 | 20.2 | 21.6 | 23.4 | 24.4 | 26.5 | 28.1 | 28.3 |
ROE (%) | 10.1 | 10.4 | 10.5 | 10.2 | 10.9 | 11.3 | 11.2 | 11.3 | 10.1 | 9.6 | 9.4 |
ROA (%) | 3.9 | 4.0 | 3.9 | 3.9 | 4.0 | 4.2 | 4.5 | 4.7 | 4.2 | 4.3 | 4.2 |
Return on leasing business*3 (%) | 4.8 | 4.7 | 4.7 | 4.8 | 5.3 | 5.5 | 5.6 | 6.0 | 5.5 | 5.5 | 5.4 |
Long-term debt ratio (%) | 93 | 95 | 97 | 98 | 98 | 98 | 99 | 96 | 96 | 98 | 95 |
Fixed-interest rate debt ratio (%) | 80 | 82 | 87 | 94 | 95 | 94 | 96 | 95 | 94 | 96 | 86 |
ND/E ratio*4 (Times) | 3.9 | 3.7 | 3.5 | 3.3 | 3.1 | 2.9 | 2.6 | 2.5 | 2.2 | 2.1 | 2.1 |
Interest coverage ratio*5 (Times) | 4.9 | 6.1 | 6.5 | 7.3 | 9.0 | 10.5 | 11.4 | 12.8 | 12.6 | 13.7 | 14.6 |
*1. Ordinary profit, which equals operating income after adjustment for non-operating income/expenses, is a management index that is widely used in Japan.
Ordinary profit is not referred to in the consolidated financial statements but is included here because it plays an important role in the calculation of compensation for directors.
*2. Equity = Shareholders' equity + Accumulated other comprehensive income (loss)
*3. Return on leasing business = Cash flows from leasing business / Net investments of leasing business
*4. ND/E ratio = Net interest-bearing debt / Equity
*5. Interest coverage ratio = (Operating income + Interest and dividend income) / Interest expense
Notes: 1. The Company changed its accounting policy (revenue recognition standards of Sumitomo Real Estate Sales) from the beginning of FY2019. The figures provided for FY2018 are those after retroactive application.
2. From the beginning of FY2020, the business segments for revenue and income from Sumitomo Real Estate Sales have been changed, from the allocation to "Sales," "Brokerage" and "Adjustments (not presented in the document)," to be consolidated into "Brokerage." Financial results for FY2019 have been adjusted retroactively.
1 | 2 |
Management's Discussion and Analysis
Management's Discussion and Analysis for FY2022 (Fiscal year ended March 31, 2023)
Overview
The financial results were as follows: revenue from operations recorded ¥939.9 billion (¥0.5 billion increase year on year), operating income ¥241.3 billion (¥7.4 billion increase year on year), ordinary profit ¥236.7 billion (¥11.5 billion increase year on year), and profit attributable to owners of parent ¥161.9 billion (¥11.5 billion increase year on year). Revenue from operations, operating income, ordinary profit and profit all increased from the previous fiscal year. Ordinary profit achieved a record high for the second consecutive year, while profit attributable to owners of parent achieved a record high for the tenth consecutive year.
Revenue from operations and operating income
Cash and cash equivalents increased to ¥184.1 billion (¥33.7 billion increase year on year).
Ordinary profit recorded ¥236.7 billion. In addition to ¥55.5 billion increase in inventories, with payments for income tax and other taxes, net cash provided by operating activities amounted to ¥165.1 billion.
As the result of investments in property and equipment totaling ¥449.3 billion mainly for the purpose of augmenting the leasing business, net cash used in investing activities amounted to ¥489.8
Revenue from Operations
Billion yen
1,200 | |||||
1,012.2 1,013.5 | 939.4 | 939.9 | 970.0 | ||
917.5 | |||||
800 | |||||
400 | |||||
0 | FY '19 | FY '20 | FY '21 | FY '22 | FY '23 |
FY '18 | |||||
(Forecast) |
Operating Income and Operating Margin | Ordinary Profit* and |
Profit Attributable to Owners of Parent |
Billion yen | % | Billion yen | 250.0 | ||||||||||||||||||
270 | 255.0 | 30 | 250 | 236.7 | |||||||||||||||||
241.3 | 225.1 | ||||||||||||||||||||
234.3 | 233.9 | 220.5 | 209.9 | ||||||||||||||||||
219.4 | 219.2 | 26.3 | 203.2 | ||||||||||||||||||
25.7 | |||||||||||||||||||||
24.9 | 200 | ||||||||||||||||||||
23.9 | 175.0 | ||||||||||||||||||||
23.1 | |||||||||||||||||||||
21.7 | 161.9 | ||||||||||||||||||||
180 | 20 | ||||||||||||||||||||
150 | 141.0 | 141.4 | 150.5 | ||||||||||||||||||
130.1 | |||||||||||||||||||||
90 | 10 | 100 | |||||||||||||||||||
50 | |||||||||||||||||||||
0 | FY '18 | FY '19 | FY '20 | FY '21 | FY '22 | FY '23 | 0 | 0 | FY '18 | FY '19 | FY '20 | FY '21 | FY '22 | FY '23 | |||||||
(Forecast) | (Forecast) |
Operating income | Operating margin (right scale) | Ordinary profit | Profit attributable to owners of parent | ||
* Please refer to note *1 on Page 1 |
The steady progress in the mainstay office building business underpinned the achievement, and the decline due to COVID-19 in commercial facility business such as hotels and event halls shrank, resulting in increased revenue and profit in the leasing business. In addition, the construction business including "Shinchiku Sokkurisan" remodeling, as well as the brokerage business with good performance in brokerage of existing homes, both contributed to overall performance with their record high profits.
billion.
Issuance of bonds and long-term loans payable (including non- recourse debt) amounted to ¥482.6 billion to make repayments of long-term loans payable at maturity totaled ¥244.6 billion and investments in property and equipment for augmenting the leasing business. With the net commercial paper issuance of ¥140.0 billion,
Total Assets | Equity and Equity Ratio | ROE and ROA |
In the sales business primarily for condominium sales, even though revenue decreased owing to a decline in the number of units delivered, it achieved higher operating income by improved profit margins.
Other income (expenses)
Non-operating income recorded ¥16.6 billion (¥2.4 billion increase year on year), mainly due to an increase in dividend income.
Non-operating expenses decreased to ¥21.2 billion (¥1.8 billion
decrease year on year), mainly due to decreases in interest expense. As
net cash provided by financing activities amounted to ¥355.6 billion.
Financial resources for capital and liquidity of funds
Assets
Total assets as of the end of the fiscal year under review amounted to ¥6,365.4 billion (¥559.4 billion increase year on year). Property and equipment increased to ¥4,464.5 billion (¥350.1 billion increase year on year) mainly due to investments in buildings for leasing.
Billion yen | Billion yen | 1,799.4 | % | % | ||||||||
7,500 | 1,800 | 45 | 15 | |||||||||
1,634.0 | ||||||||||||
6,365.4 | 1,503.0 | |||||||||||
5,673.7 | 5,806.0 | |||||||||||
5,317.6 | 1,295.0 | |||||||||||
5,130.1 | 1,202.1 | |||||||||||
5,000 | 1,200 | 23.4 | 24.4 | 26.5 | 28.1 | 28.3 | 30 | 10 | ||||
2,500 | 600 | 15 | 5 | |||||||||
0 | FY '19 | FY '20 | FY '21 | FY '22 | 0 | FY '18 | FY '19 | FY '20 | FY '21 | FY '22 | 0 | 0 |
FY '18 |
11.2 | 11.3 |
10.1 |
9.6 | 9.4 |
4.5 | 4.7 | 4.2 | 4.3 | 4.2 |
FY '18 | FY '19 | FY '20 | FY '21 | FY '22 |
a result, non-operating loss recorded ¥4.6 billion (an improvement of |
¥4.1 billion year on year). |
Extraordinary income recorded ¥4.7 billion (¥2.2 billion increase |
year on year), mainly owing to gain on sale of investment securities, |
while extraordinary loss recorded ¥11.0 billion (¥2.1 billion increase |
year on year), mainly due to loss on impairment of fixed assets and |
loss on disposal of property and equipment. As a result, extraordinary |
Liabilities
Total liabilities amounted to ¥4,566.1 billion (¥394.1 billion increase year on year). Consolidated interest-bearing debt increased to ¥3,938.0 billion (¥378.0 billion increase year on year). ND/E ratio was 2.1 times, same as the previous fiscal year.
Net assets
Equity | ROE (Net income / Equity) |
(Shareholders' equity + Accumulated other comprehensive income (loss)) | ROA ((Operating income + Interest and dividend income) / Total assets) |
Equity ratio (right scale) (Equity / Total assets)
income/loss deteriorated to ¥6.3 billion, recording an improvement of |
¥0.1 billion from the previous fiscal year. |
Notes: 1. Non-operating income and expenses = Operating income - Ordinary profit. They
Total net assets amounted to ¥1,799.4 billion (¥165.3 billion increase year on year). Profit attributable to owners of parent as of the end of the fiscal year under review stood at ¥161.9 billion, and retained
Net Interest-bearing Debt and ND/E Ratio | Long-term Debt Ratio and |
Fixed-interest Rate Debt Ratio |
Cash Flows from Leasing Business and Return on Leasing Business
refer to Other income and expenses except for Extraordinary income and loss.
2. Extraordinary income and loss = Ordinary profit - Income before income taxes. They refer to the part of Other income and expenses that are occasional and the company deems them as extraordinary items.
Cash flows
Cash flows were as follows:
Cash flows from operating activities: ¥165.1 billion (¥27.9 billion decrease year on year)
Cash flows from investing activities: ¥(489.8) billion (¥279.8 billion decrease year on year)
earnings increased. As a result, the equity ratio improved from 28.1% at the end of the previous fiscal year to 28.3%, and ROE was 9.4% (9.6% at the end of the previous fiscal year).
As of the end of the fiscal year under review, long-term debt accounted for 95% of consolidated interest-bearing debt, and fixed- interest rate debt for 86% (those numbers were 98% and 96%, respectively, at the end of the previous fiscal year).
Billion yen | 3,752.9 | Times | % | |||
3,900 | 6 | 100 | ||||
3,170.6 | 3,245.5 | 3,373.0 | 3,408.6 | |||
80 | ||||||
2,600 | 4 | 60 | ||||
2.6 | 2.5 | 2.2 | 2.1 | 2.1 | 2 | 40 |
1,300 | ||||||
20 | ||||||
0 | FY '19 | FY '20 | FY '21 | FY '22 | 0 | 0 |
FY '18 |
99 | 96 | 96 | 98 | 95 |
96 | 95 | 94 | 96 | 86 |
FY '18 | FY '19 | FY '20 | FY '21 | FY '22 |
Billion yen | % | |||||
250 | 226.9 | 10 | ||||
214.8 | 209.6 | 220.0 | ||||
193.1 | ||||||
200 | 8 | |||||
150 | 5.6 | 6.0 | 5.4 | 6 | ||
5.5 | 5.5 | |||||
100 | 4 | |||||
50 | 2 | |||||
0 | FY '18 | FY '19 | FY '20 | FY '21 | FY '22 | 0 |
Cash flows from financing activities: ¥355.6 billion (¥377.5 billion increase year on year)
Net interest-bearing debt | Short-term debt and commercial paper | ||
ND/E ratio (right scale) | Long-term debt and bonds | ||
(Net interest-bearing debt / Equity) | Fixed-interest rate debt ratio |
Cash flows from leasing business
Return on leasing business (right scale)
(Cash flows from leasing business / Net investments of leasing business)
3 | 4 |
Consolidated Financial Statements
Consolidated Balance Sheets
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries
As of March 31, 2023 and 2022
Thousands of | Thousands of | ||||||||||||||||
Millions of yen | U.S. dollars (Note 1) | Millions of yen | U.S. dollars (Note 1) | ||||||||||||||
2023 | 2022 | 2023 | 2023 | 2022 | 2023 | ||||||||||||
Assets | Liabilities and Net Assets | ||||||||||||||||
Current assets: | Current liabilities: | ||||||||||||||||
Cash and deposits (Notes 5, 7 and 8) | ¥ | 185,120 | ¥ | 151,393 | $ | 1,386,251 | Short-term debt (Notes 8 and 10) | ¥ | 208,610 | ¥ | 68,610 | $ | 1,562,154 | ||||
Accounts receivable-trade (Note 18) | 38,047 | 23,286 | 284,911 | Long-term debt due within one year (Notes 7, 8 and 10) | 289,472 | 237,386 | 2,167,680 | ||||||||||
Allowance for doubtful accounts | (24) | (44) | (180) | Long-termnon-recourse debt due within one year (Notes 7, 8 and 10) | 4,640 | 4,786 | 34,746 | ||||||||||
Inventories (Notes 3, 6 and 21) | 790,070 | 712,451 | 5,916,355 | Notes and accounts payable-trade | 29,067 | 42,308 | 217,665 | ||||||||||
Other current assets | 73,659 | 54,447 | 551,588 | Accrued income taxes | 30,827 | 40,145 | 230,845 | ||||||||||
Total current assets | 1,086,872 | 941,533 | 8,138,925 | Provison for bonuses | 4,924 | 5,804 | 36,873 | ||||||||||
Deposits received | 75,118 | 55,156 | 562,513 | ||||||||||||||
Other current liabilities (Notes 13 and 18) | 198,870 | 185,836 | 1,489,216 | ||||||||||||||
Total current liabilities | 841,528 | 640,031 | 6,301,692 | ||||||||||||||
Property and equipment (Notes 3, 6, 19 and 21): | |||||||||||||||||
Land (Note 7) | 3,057,437 | 2,847,702 | 22,895,290 | Long-term liabilities: | |||||||||||||
Buildings and structures (Note 7) | 1,965,322 | 1,759,702 | 14,717,103 | Long-term debt due after one year (Notes 7, 8 and 10) | 3,148,053 | 2,957,325 | 23,573,858 | ||||||||||
Construction in progress (Note 7) | 126,592 | 139,860 | 947,971 | Long-termnon-recourse debt due after one year (Notes 7, 8 and 10) | 287,247 | 291,887 | 2,151,018 | ||||||||||
Other property and equipment (Note 7) | 54,765 | 48,718 | 410,102 | Guarantee and lease deposits received (Note 8) | 254,009 | 249,276 | 1,902,119 | ||||||||||
Subtotal of property and equipment | 5,204,116 | 4,795,982 | 38,970,466 | Long-term deposits received | 2,325 | 8,764 | 17,411 | ||||||||||
Accumulated depreciation and accumulated impairment losses | (739,651) | (681,665) | (5,538,798) | Net defined benefit liability (Note 11) | 5,534 | 5,796 | 41,441 | ||||||||||
Total property and equipment | 4,464,465 | 4,114,317 | 33,431,668 | Other long-term liabilities (Notes 8, 13, 14 and 17) | 27,368 | 18,912 | 204,942 | ||||||||||
Total long-term liabilities | 3,724,536 | 3,531,960 | 27,890,789 | ||||||||||||||
Contingent liabilities (Note 22) | |||||||||||||||||
Intangibles (Note 19): | |||||||||||||||||
Leasehold rights (Notes 3 and 21) | 60,846 | 61,803 | 455,639 | Net assets (Note 15): | |||||||||||||
Other intangibles | 2,447 | 2,191 | 18,324 | Shareholders' equity | |||||||||||||
Total intangibles | 63,293 | 63,994 | 473,963 | Common stock: | |||||||||||||
Authorized -1,900,000 thousand shares | |||||||||||||||||
Issued | -476,086 thousand shares | 122,805 | 122,805 | 919,612 | |||||||||||||
Capital surplus | 104,154 | 104,154 | 779,946 | ||||||||||||||
Investments and other assets: | Retained earnings (Note 23) | 1,396,393 | 1,256,742 | 10,456,740 | |||||||||||||
Investments in unconsolidated subsidiaries and affiliates (Note 8) | 104,557 | 70,274 | 782,964 | Treasury stock | (4,477) | (4,475) | (33,526) | ||||||||||
Investment securities (Notes 8 and 9) | 523,839 | 503,230 | 3,922,712 | Total shareholders' equity | 1,618,875 | 1,479,226 | 12,122,772 | ||||||||||
Guarantee and lease deposits (Notes 8 and 9) | 67,044 | 66,994 | 502,052 | Accumulated other comprehensive income (loss) | |||||||||||||
Net defined benefit asset (Note 11) | 293 | 258 | 2,194 | Net unrealized holding gains on securities (Note 9) | 171,827 | 155,863 | 1,286,709 | ||||||||||
Deferred income taxes (Note 14) | 13,250 | 11,457 | 99,221 | Net deferred gains (losses) on hedges (Note 17) | 5,979 | 705 | 44,773 | ||||||||||
Other investments and other assets (Notes 8 and 17) | 42,728 | 34,642 | 319,964 | Foreign currency translation adjustments | 2,660 | (1,450) | 19,919 | ||||||||||
Allowance for doubtful accounts | (905) | (659) | (6,777) | Remeasurements of defined benefit plans (Note 11) | 31 | (295) | 232 | ||||||||||
Total investments and other assets | 750,806 | 686,196 | 5,622,330 | Total accumulated other comprehensive income | 180,497 | 154,823 | 1,351,633 | ||||||||||
Total assets | ¥ | 6,365,436 | ¥ | 5,806,040 | $ | 47,666,886 | Total net assets | 1,799,372 | 1,634,049 | 13,474,405 | |||||||
See accompanying notes. | Total liabilities and net assets | ¥ | 6,365,436 | ¥ | 5,806,040 | $ | 47,666,886 |
5 | 6 |
Consolidated Financial Statements
Consolidated Statements of Income
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries
For the years ended March 31, 2023, 2022 and 2021
Millions of yen | |||
2023 | 2022 | 2021 | |
Revenue from operations (Notes 16, 18, 19 and 21) | ¥939,905 | ¥939,431 | ¥917,473 |
Costs and expenses (Note 16): | |||
Cost of revenue from operations (Note 21) | 625,452 | 636,988 | 629,565 |
Selling, general and administrative expenses (Note 11) | 73,179 | 68,560 | 68,664 |
698,631 | 705,548 | 698,229 | |
Operating income (Note 19) | 241,274 | 233,883 | 219,244 |
Other income (expenses) (Note 21): | |||
Interest income | 454 | 131 | 275 |
Interest expense (Notes 10 and 17) | (17,577) | (18,034) | (18,318) |
Dividend income | 15,625 | 12,662 | 11,561 |
Gain on sale of property and equipment | 15 | 98 | 536 |
Loss on sale of property and equipment | - | (0) | - |
Loss on impairment of fixed assets (Notes 12, 19 and 21) | (8,100) | (3,453) | (3,876) |
Loss on disposal of property and equipment (Note 21) | (1,742) | (4,015) | (7,890) |
Gain on sale of investment securities (Note 9) | 4,713 | 2,427 | 13,116 |
Loss on sale of investment securities (Note 9) | (7) | (2) | (312) |
Loss on devaluation of investment securities (Note 9) | (214) | (1,160) | (489) |
Loss related to COVID-19 | - | - | (629) |
Other, net | (4,105) | (3,883) | (2,859) |
(10,938) | (15,229) | (8,885) | |
Income before income taxes | 230,336 | 218,654 | 210,359 |
Income taxes (Note 12): | |||
Current | 69,675 | 77,311 | 64,930 |
Deferred | (1,265) | (9,109) | 4,040 |
Total | 68,410 | 68,202 | 68,970 |
Profit | 161,926 | 150,452 | 141,389 |
Profit attributable to non-controlling interests | - | - | - |
Profit attributable to owners of parent | ¥161,926 | ¥150,452 | ¥141,389 |
Yen | |||
2023 | 2022 | 2021 | |
Amounts per share of common stock: | |||
Profit attributable to owners of parent: | |||
-Basic | ¥341.66 | ¥317.45 | ¥298.33 |
-Diluted | - | - | - |
Cash dividend applicable to the year (Note 23) | 52.00 | 45.00 | 40.00 |
See accompanying notes.
Thousands of
U.S. dollars (Note 1)
2023
$7,038,378
4,683,630
547,993
5,231,623
1,806,755
3,400
(131,623)
117,006
112
-
(60,656)
(13,045)
35,293
(52)
(1,603)
-
(30,740)
(81,908)
1,724,847
521,754
(9,473)
512,281
1,212,566
-
$1,212,566
U.S. dollars (Note 1)
2023
$2.56
-
0.39
Consolidated Statements of Changes in Net Assets
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries
For the years ended March 31, 2023, 2022 and 2021
Thousands | Millions of yen | ||||||||||||||
Shareholders' equity | Accumulated other comprehensive income (loss) | ||||||||||||||
Remeasure- | Total | ||||||||||||||
Number of | Net unrealized | Foreign | ments of | accumulated | |||||||||||
shares of | Total | holding gains | Net deferred | currency | defined | other | |||||||||
common | Common | Capital | Retained | Treasury | shareholders' | (losses) on | gains (losses) | translation | benefit | comprehensive | Total net | ||||
stock | stock | surplus | earnings | stock | equity | securities | on hedges | adjustments | plans | income (loss) | assets | ||||
Balance at April 1, 2020 | 476,086 | ¥122,805 | ¥104,154 | ¥1,002,634 | ¥(4,473) | ¥1,225,120 | ¥ 76,335 | ¥(3,560) | ¥(2,718) | ¥(177) | ¥ 69,880 | ¥1,295,000 | |||
Profit attributable to owners of parent | - | - | - | 141,389 | - | 141,389 | - | - | - | - | - | 141,389 | |||
Foreign currency translation adjustments | - | - | - | - | - | - | - | - | (1,548) | - | (1,548) | (1,548) | |||
Net unrealized holding gains (losses) on securities | - | - | - | - | - | - | 84,106 | - | - | - | 84,106 | 84,106 | |||
Acquisition of treasury stock | - | - | - | - | (2) | (2) | - | - | - | - | - | (2) | |||
Change in scope of consolidation | - | - | - | 657 | - | 657 | - | - | - | - | - | 657 | |||
Cash dividends paid: | |||||||||||||||
Final for prior year (¥19 per share) | - | - | - | (9,005) | - | (9,005) | - | - | - | - | - | (9,005) | |||
Interim for current year (¥19 per share) | - | - | - | (9,005) | - | (9,005) | - | - | - | - | - | (9,005) | |||
Net deferred gains (losses) on hedges | - | - | - | - | - | - | - | 571 | - | - | 571 | 571 | |||
Remeasurements of defined benefit plans | - | - | - | - | - | - | - | - | - | 858 | 858 | 858 | |||
Balance at April 1, 2021 | 476,086 | ¥122,805 | ¥104,154 | ¥1,126,670 | ¥(4,475) | ¥1,349,154 | ¥160,441 | ¥(2,989) | ¥(4,266) | ¥681 | ¥153,867 | ¥1,503,021 | |||
Profit attributable to owners of parent | - | - | - | 150,452 | - | 150,452 | - | - | - | - | - | 150,452 | |||
Foreign currency translation adjustments | - | - | - | - | - | - | - | - | 2,816 | - | 2,816 | 2,816 | |||
Net unrealized holding gains (losses) on securities | - | - | - | - | - | - | (4,578) | - | - | - | (4,578) | (4,578) | |||
Acquisition of treasury stock | - | - | - | - | (0) | (0) | - | - | - | - | - | (0) | |||
Change in scope of consolidation | - | - | - | (0) | - | (0) | - | - | - | - | - | (0) | |||
Cash dividends paid: | |||||||||||||||
Final for prior year (¥21 per share) | - | - | - | (9,953) | - | (9,953) | - | - | - | - | - | (9,953) | |||
Interim for current year (¥22 per share) | - | - | - | (10,427) | - | (10,427) | - | - | - | - | - | (10,427) | |||
Net deferred gains (losses) on hedges | - | - | - | - | - | - | - | 3,694 | - | - | 3,694 | 3,694 | |||
Remeasurements of defined benefit plans | - | - | - | - | - | - | - | - | - | (976) | (976) | (976) | |||
Balance at April 1, 2022 | 476,086 | ¥122,805 | ¥104,154 | ¥1,256,742 | ¥(4,475) | ¥1,479,226 | ¥155,863 | ¥ 705 | ¥(1,450) | ¥(295) | ¥154,823 | ¥1,634,049 | |||
Profit attributable to owners of parent | - | - | - | 161,926 | - | 161,926 | - | - | - | - | - | 161,926 | |||
Foreign currency translation adjustments | - | - | - | - | - | - | - | - | 4,110 | - | 4,110 | 4,110 | |||
Net unrealized holding gains (losses) on securities | - | - | - | - | - | - | 15,964 | - | - | - | 15,964 | 15,964 | |||
Acquisition of treasury stock | - | - | - | - | (2) | (2) | - | - | - | - | - | (2) | |||
Change in scope of consolidation | - | - | - | - | - | - | - | - | - | - | - | - | |||
Cash dividends paid: | |||||||||||||||
Final for prior year (¥23 per share) | - | - | - | (10,900) | - | (10,900) | - | - | - | - | - | (10,900) | |||
Interim for current year (¥24 per share) | - | - | - | (11,375) | - | (11,375) | - | - | - | - | - | (11,375) | |||
Net deferred gains (losses) on hedges | - | - | - | - | - | - | - | 5,274 | - | - | 5,274 | 5,274 | |||
Remeasurements of defined benefit plans | - | - | - | - | - | - | - | - | - | 326 | 326 | 326 | |||
Balance at March 31, 2023 | 476,086 | ¥122,805 | ¥104,154 | ¥1,396,393 | ¥(4,477) | ¥1,618,875 | ¥171,827 | ¥5,979 | ¥2,660 | ¥31 | ¥180,497 | ¥1,799,372 | |||
Thousands of U.S. dollars (Note 1) | |||||||||||||||
Shareholders' equity | Accumulated other comprehensive income (loss) | ||||||||||||||
Total | |||||||||||||||
Net unrealized | Foreign | Remeasure- | accumulated | ||||||||||||
Total | holding gains | Net deferred | currency | ments of | other | ||||||||||
Common | Capital | Retained | Treasury | shareholders' | (losses) on | gains (losses) | translation | defined | comprehensive | Total net | |||||
stock | surplus | earnings | stock | equity | securities | on hedges | adjustments | benefit plans | income (loss) | assets | |||||
Balance at April 1, 2022 | $919,612 | $779,946 | $ 9,410,978 | $(33,511) | $11,077,025 | $1,167,163 | $ 5,279 | $(10,858) | $(2,208) | $1,159,376 | $12,236,401 | ||||
Profit attributable to owners of parent | - | - | 1,212,566 | - | 1,212,566 | - | - | - | - | - | 1,212,566 | ||||
Foreign currency translation adjustments | - | - | - | - | - | - | - | 30,777 | - | 30,777 | 30,777 | ||||
Net unrealized holding gains (losses) on securities | - | - | - | - | - | 119,546 | - | - | - | 119,546 | 119,546 |
Consolidated Statements of Comprehensive Income
Sumitomo Realty & Development Co., Ltd. and its consolidated subsidiaries
For the years ended March 31, 2023, 2022 and 2021
Millions of yen | |||
2023 | 2022 | 2021 | |
Profit | ¥161,926 | ¥150,452 | ¥141,389 |
Other comprehensive income (loss) (Note 20) | |||
Net unrealized holding gains (losses) on securities | 15,964 | (4,578) | 84,106 |
Net deferred gains (losses) on hedges | 5,274 | 3,694 | 571 |
Foreign currency translation adjustments | 4,110 | 2,816 | (1,548) |
Remeasurements of defined benefit plans | 326 | (976) | 858 |
Total other comprehensive income (loss) | 25,674 | 956 | 83,987 |
Comprehensive income | ¥187,600 | ¥151,408 | ¥225,376 |
Comprehensive income attributable to: | |||
Owners of the parent | ¥187,600 | ¥151,408 | ¥225,376 |
Non-controlling interests | - | - | - |
See accompanying notes.
Thousands of
U.S. dollars (Note 1)
2023
$1,212,566
119,546
39,494
30,777
2,440
192,257 $1,404,823
$1,404,823
-
Acquisition of treasury stock | - | - | - | (15) | (15) | - | - | - | - | - | (15) |
Change in scope of consolidation | - | - | (0) | - | (0) | - | - | - | - | - | (0) |
Cash dividends paid: | |||||||||||
Final for prior year ($0.17 per share) | - | - | (81,623) | - | (81,623) | - | - | - | - | - | (81,623) |
Interim for current year ($0.17 per share) | - | - | (85,181) | - | (85,181) | - | - | - | - | - | (85,181) |
Net deferred gains (losses) on hedges | - | - | - | - | - | - | 39,494 | - | - | 39,494 | 39,494 |
Remeasurements of defined benefit plans | - | - | - | - | - | - | - | - | 2,440 | 2,440 | 2,440 |
Balance at March 31, 2023 | $919,612 | $779,946 | $10,456,740 | $(33,526) | $12,122,772 | $1,286,709 | $44,773 | $19,919 | $ 232 | $1,351,633 | $13,474,405 |
See accompanying notes.
7 | 8 |
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Sumitomo Realty & Development Co. Ltd. published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 06:54:07 UTC.