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For the fiscal year ended March 31, 2018, operating revenue was ¥866.1 billion and operating profit was ¥77.5 billion.
In the Urban Development segment, both revenue and profit increased year on year and exceeded the budget, mainly due to the strong performance of the real-estate agents business as well as increased revenue from sales of properties including buildings for investors, plus the contribution of the National Students Information Center, which was made a consolidated subsidiary in November 2016.
For the fiscal year ending March 31, 2019, the estimated operating revenue is ¥880 billion and the estimated operating profit is ¥80.0 billion.
Against a background of continually steady market conditions, both revenue and profit are expected to increase.
As for returns to shareholders, a dividend increase is planned for the sixth consecutive fiscal year (up ¥1 per share to ¥15.5 annually) on the back of steady growth of profit attributable to owners of parent.
The major topics for the fiscal year ended March 31, 2018, are the five statements described above.
In May 2017, the Company announced the medium-term management plan under which the last fiscal year is FY2020. Under the basic policy of expansion of associated assets and creation of new demand, we have maintained the growth strategy of expanding the field of the project for the greater Shibuya area and the cyclical reinvestment business and of strengthening the utilization of stocks in Property Management and Real-Estate Agents segments.
As for the project for the greater Shibuya area, there was steady progress of construction work for the opening in FY2019 of the Shibuya redevelopment 2 projects in Dogenzaka 1-chome/Nampeidai, the project that the Company is conducting and the steady progress of leasing against the background of brisk demand in the Shibuya area. The specific details will be explained later.
In addition, in December, the Company invested in five properties that are commercial facilities located in the greater Shibuya area through the joint investment business with Norges Bank to expand the associated assets.
In the expansion of the field of the cyclical reinvestment business, we advanced investment in the renewable energy business, especially solar power generation, physical distribution facilities and other infrastructure-related properties.
The specific details will be explained later.
As for the strategy for strengthening the utilization of stocks, the functions of the renovation business of Tokyu Homes were integrated into Tokyu Re- design Corporation, which was newly established as a subsidiary of Tokyu Community Corp. The functions and human resources dispersed within the group shall be consolidated to proceed with the business that grasps the environmental change from the flow-type society to the stock-type society.
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