OREANDA-NEWS. NTT Urban Development Corporation announced the consolidated financial results for the NTT Urban Development Group for the six months (from April 1, 2013 to September 30, 2013) of the fiscal year ending March 31, 2014 (referring the 29th business period).

For the six months of the fiscal year ending March 31, 2014, operating revenue reached JPN 82.0 billion, an increase of JPN 3.0 billion year on year. Operating income was JPN 17.8 billion, falling JPN 0.1 billion, and ordinary income was JPN 14.6 billion, decreasing JPN 0.6 billion. Net income stood at JPN 8.8 billion, a decrease of JPN 0.6 billion. Results were mostly on a par with the forecasts.

In the Leasing Business, operating revenue reached JPN 53.3 billion, rising JPN 3.4 billion year on year, with a fall in rent income from existing properties more than offset by income, including rent income from new properties and sales of properties. Operating income stood at JPN 17.1 billion, declining JPN 0.7 billion year on year, mainly reflecting an increase in operating expenses associated with new properties and properties acquired.

In the Residential Property Sales Business, operating revenue amounted to JPN 22.4 billion, an increase of JPN 0.4 billion year on year, and operating income was JPN 2.8 billion, an increase of JPN 0.6 billion, primarily reflecting a rise in the number of condominiums delivered and other factors.