OREANDA-NEWS. Daiwa House Industry Co. Announces Consolidated Results of Operation for the Three Months Ended June 30, 2013.

As a result, for the reporting three-month period, on a consolidated basis, we recorded net sales of 578,058 million yen (up 29.5% year on year). Ordinary income came to 29,479 million yen (up 15.5%), and net income came to 18,583 million yen (up 51.2%).

Total assets at the end of the reporting three month period totaled 2,393,343 million yen, an increase of 22,105 million yen compared with 2,371,238 million yen at the previous fiscal year-end. This was primarily due to ongoing increase in inventories and property, plant and equipment, despite a decline in notes and accounts receivable from completed construction contracts and other. The increase in inventories was chiefly attributable to the inclusion of Cosmos Initia as a consolidated subsidiary.

Total liabilities at the end of the reporting three month period totaled 1,649,161 million yen, an increase of 12,807 million yen compared with 1,636,354 million yen at the previous fiscal year-end. This was primarily due to an increase in interest-bearing liabilities from issue of commercial paper, despite decrease in notes and accounts payables for construction contracts and other and income taxes payable.

Total net assets at the end of the reporting three month period totaled 744,181 million yen, an increase of 9,298 million yen compared with the 734,883 million yen at the previous fiscal year-end. This was primarily due to recording of net income for the reporting period of 18,583 million yen, despite of dividends for the previous fiscal year.