Financial Summary
FY2022
Ended March 31, 2023
Tokyu Fudosan Holdings Corporation
This report provides information excerpts from Tokyu Fudosan Holdings' original disclosure in Japanese, "Kessan Tanshin," which was released on May 10, 2023 at 15:00 (GMT+9).
The audit has not been completed.
1. Overview of the FY2022 Ended March 31, 2023
*All the figures in millions are rounded down and all the figures in billions are rounded off to one decimal place.
(1) Summary of consolidated statement of income | (% indicates year-on-year change.) | |||||||
Operating revenue | Operating profit | Ordinary profit | Profit attributable to | |||||
owners of parent | ||||||||
(Millions of yen) | (%) | (Millions of yen) | (%) | (Millions of yen) | (%) | (Millions of yen) | (%) | |
FY2022 | 1,005,836 | 1.7 | 110,410 | 31.7 | 99,558 | 36.7 | 48,227 | 37.3 |
FY2021 | 989,049 | 9.0 | 83,817 | 48.3 | 72,834 | 56.4 | 35,133 | 62.1 |
Note: Comprehensive income: FY2022 ¥72,983 million [49.2%]; FY2021 ¥48,916 million [97.9%]
Earnings per | Fully diluted | Return on equity | Ordinary profit/ | Operating profit/ | |
share | earnings per share | total assets | operating revenue | ||
(Yen) | (Yen) | (%) | (%) | (%) | |
FY2022 | 67.21 | - | 7.3 | 3.7 | 11.0 |
FY2021 | 48.84 | - | 5.7 | 2.8 | 8.5 |
Reference:Equity in earnings (losses) of affiliates: FY2022 ¥(560) million; FY2021 ¥144 million
(2) Summary of consolidated balance sheet | |||||||||||
Total assets | Total net assets | Equity ratio | Net assets per share | ||||||||
(Millions of yen) | (Millions of yen) | (%) | (Yen) | ||||||||
As of March 31, 2023 | 2,738,458 | 700,702 | 25.0 | 964.77 | |||||||
As of March 31, 2022 | 2,634,343 | 643,298 | 24.0 | 878.32 | |||||||
Reference:Equity: As of March 31, 2023 ¥684,625 million; As of March 31, 2022 ¥631,789 million | |||||||||||
(3) Summary of consolidated cash flows | |||||||||||
Cash flow from | Cash flow from | Cash flow from | Cash and | ||||||||
cash equivalents | |||||||||||
operating activities | investing activities | financing activities | |||||||||
at end of period | |||||||||||
(Millions of yen) | (Millions of yen) | (Millions of yen) | (Millions of yen) | ||||||||
FY2022 | 94,739 | (120,060) | 42,764 | 170,649 | |||||||
FY2021 | 76,453 | (31,786) | (81,273) | 153,865 |
2. Dividends
Annual dividends | Total | Dividend | Ratio of | |||||
dividends to | ||||||||
Year- | annual cash | payout ratio | ||||||
Q1 | Q2 | Q3 | Total | net assets | ||||
end | dividends | (consolidated) | ||||||
(consolidated) | ||||||||
(Yen) | (Yen) | (Yen) | (Yen) | (Yen) | (Millions of yen) | (%) | (%) | |
FY2021 ended March | - | 8.00 | - | 9.00 | 17.00 | 12,236 | 34.8 | 2.0 |
31, 2022 | ||||||||
FY2022 ended March | - | 9.00 | - | 14.50 | 23.50 | 16,915 | 35.0 | 2.6 |
31, 2023 | ||||||||
FY2023 ending March | - | 14.00 | - | 14.00 | 28.00 | 32.0 | ||
31, 2024 (Forecast) | ||||||||
Note: The Company decided to increase the amount of dividends from surplus with the record date of March 31, 2023, from the forecast announced on November 9, 2022, to ¥14.50 per share. For details, please refer to the "Announcement of Dividend of Retained Earnings" released today (May 10, 2023).
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3. Forecast for Fiscal Year 2023 Ending March 31, 2024
(% indicates year-on-year change.) | |||||||||
Operating | Operating | Ordinary | Profit attributable | Earnings | |||||
to owners of | |||||||||
revenue | profit | profit | per share | ||||||
parent | |||||||||
(Millions | (%) | (Millions | (%) | (Millions | (%) | (Millions | (%) | (Yen) | |
of yen) | of yen) | of yen) | of yen) | ||||||
Full-year forecast | 1,120,000 | 11.4 | 112,000 | 1.4 | 100,500 | 0.9 | 62,000 | 28.6 | 87.37 |
Total number of shares issued (common stock) | |||||||||
(a) Total number of shares issued at end of period (including treasury shares) | |||||||||
As of March 31, 2023: | 719,830,974 shares | ||||||||
As of March 31, 2022: | 719,830,974 shares | ||||||||
(b) Number of treasury shares at end of period | |||||||||
As of March 31, 2023: | 10,207,732 shares | ||||||||
As of March 31, 2022: | 514,089 shares | ||||||||
(c) Average number of shares | |||||||||
Year ended March 31, 2023: | 717,516,349 shares | ||||||||
Year ended March 31, 2022: | 719,317,903 shares |
(Note) The Company has a "Director Stock Ownership Plan Trust" for directors, etc. of the Company and its subsidiaries and a "Tokyu Fudosan Holdings Employee Shareholding Incentive Plan Trust". The shares of the Company held by the Plan's and the Trust's trust account are included in the number of treasury shares as a deduction in calculating the number of treasury shares at end of period and the average number of shares during the fiscal year ended March 31, 2023.
- Financial summary reports are exempt from audit conducted by certified public accountants or an audit corporation.
- Proper use of forecasts, and other special matters
(Disclaimer)
The forecasts and other forward-looking statements in this report are based on currently available information and certain assumptions determined as rational. Consequently, any statements herein do not constitute assurances regarding actual results by the Company. Actual performance may significantly differ from these forecasts due to various factors in the future.
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1. Overview of Operating Results and Others
(1) Overview of Operating Results for the Fiscal Year
Results for the fiscal year ended March 31, 2023 showed increases in revenues and profit with ¥1,005.8 billion in operating revenue (up 1.7% from the previous fiscal year), ¥110.4 billion in operating profit (up 31.7%), and ¥99.6 billion in ordinary profit (up 36.7%), due to strong performance in the sales market and sales of condominium units against the backdrop of a strong real estate market, as well as a recovery in the hotel business due to the easing of activity restrictions and border controls among other factors.
Due to business restructuring to improve efficiency based on the medium-term management plan 2025, as a result of the recording of ¥1.9 billion in gain on sale of shares of subsidiaries and associates, etc. as extraordinary income (¥7.1 billion in extraordinary income in the previous fiscal year) and ¥31.3 billion in impairment losses, etc. as extraordinary losses (¥24.0 billion in extraordinary losses in the previous fiscal year), ¥48.2 billion in profit attributable to owners of parent (up 37.3%) was recorded.
In the fiscal year ended March 31, 2023, the Group achieved record highs, including the period before shifting to a holdings structure, for operating revenue, operating profit, ordinary profit and profit attributable to owners of parent.
FY2021 | FY2022 | Comparison | |
Operating revenue | 989.0 | 1,005.8 | 16.8 |
Operating profit | 83.8 | 110.4 | 26.6 |
Ordinary profit | 72.8 | 99.6 | 26.7 |
Profit attributable to | 35.1 | 48.2 | 13.1 |
owners of parent | |||
Interest-bearing debt | 1,421.7 | 1,482.9 | 61.2 |
(Unit:¥ billion) | |
Full-year | Projected |
forecast | |
change | |
(ann. 11/9/22) | |
1,005.0 | 0.8 |
95.0 | 15.4 |
81.0 | 18.6 |
39.09.2
1,500.0 (17.1)
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By segment, the Urban Development segment, the Strategic Investment segment and the Real Estate Agents segment saw increases in revenues and profit, and the Property Management & Operation segment saw a decrease in revenues but an increase in profit. (compared to the previous fiscal year)
The decrease in revenues in the Property Management & Operation segment was mainly due to the exclusion of Tokyu Hands from the Company's scope of consolidation at the end of the previous fiscal year following the transfer of all issued shares of Tokyu Hands.
Segment Performance
Operating revenue | |||
FY2021 | FY2022 | Comparison | |
Total | 989.0 | 1,005.8 | 16.8 |
Urban Development | 325.8 | 346.1 | 20.3 |
Strategic Investment | 67.0 | 78.8 | 11.8 |
Property Management & | 383.8 | 337.1 | (46.6) |
Operation | |||
Real Estate Agents | 234.5 | 263.0 | 28.4 |
Adjustment for Inter- | (22.0) | (19.1) | 2.9 |
Company Transactions | |||
Operating profit | |||
FY2021 | FY2022 | Comparison | |
Total | 83.8 | 110.4 | 26.6 |
Urban Development | 51.9 | 58.6 | 6.7 |
Strategic Investment | 14.7 | 15.2 | 0.5 |
Property Management & | (0.1) | 12.3 | 12.4 |
Operation | |||
Real Estate Agents | 26.1 | 33.7 | 7.5 |
Adjustment for Inter- | (8.9) | (9.4) | (0.6) |
Company Transactions | |||
(Unit:¥ billion)
Full-year | Projected |
forecast | |
change | |
(ann. 11/9/22) | |
1,005.0 | 0.8 |
348.0 | (1.9) |
75.0 | 3.8 |
339.0 | (1.9) |
263.0 | (0.0) |
(20.0) | 0.9 |
(Unit:¥ billion) | |
Full-year | Projected |
forecast | |
change | |
(ann. 11/9/22) | |
95.0 | 15.4 |
51.3 | 7.3 |
11.8 | 3.4 |
11.4 | 0.9 |
31.0 | 2.7 |
(10.5) | 1.1 |
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Disclaimer
Tokyu Fudosan Holdings Corporation published this content on 10 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2023 06:06:09 UTC.