tokyu land corporation

Financial Highlights FY2023 Third Quarter (First Nine Months) Ended December 31, 2023

 

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Contents

Progress of Medium-Term Management Plan and Initiatives to Enhance Corporate Value

Summary of the FY2023 Third Quarter (First Nine Months) Ended December 31, 2023

Segment Overview

Urban Development

Strategic Investment

Property Management & Operation

Real Estate Agents

Co-Creation with Partners initiatives

Sustainability Initiatives

DX Initiatives

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① FY2023 Q3  (First Nine Months)

This is about the Property Management and Operation Business segment.

In the third quarter, operating revenue were 261.0 billion yen and operating profit was 15.6 billion yen, an increase in both sales and profit compared to the same period last year.
The management business reported higher profit mainly due to recovery in the management, construction, and rental meeting room businesses.
In the wellness business, profit increased mainly due to a recovery in demand, especially in the hotel business.

As for the full-year forecast, both revenues and profits are expected to increase from the previous year, as indicated in the lower part of the forecast.
The property management business is expected to see an increase in profit due to contributions from construction work and the leasing conference room business, while the wellness business is expected to see an increase in profit due to further inbound demand in the hotel business, etc.