Progress in Financial Results

Operating Revenue and Operating Profit

Operating Revenue and Operating Profit

2021/3

Financial Results (Consolidated) 2021/3

During the fiscal year ended March 31, 2021, with regard to the Japanese economy, economic activity was restricted and severely affected by people refraining from going out, a significant decrease in the number of foreign visitors to Japan, and other factors as a result of the declaration of a state of emergency in Japan in April 2020 due to the spread of the novel coronavirus disease (COVID-19). Although the economy has continued to recover following the lifting of the state of emergency, the outlook for the economy as a whole still remains uncertain amid uncertainty regarding when COVID-19 will be brought under control as there continues to be a trend of refraining from going out and restrictions on travel, as well as other factors including a declaration of second state of emergency in January 2021 due to a resurgence of COVID-19.
Under this type of environment, the Group has faced significant restrictions on business activities of all segments, mainly due to the temporarily closing or reduction in operating hours of commercial facilities, facilities and retail stores in the first quarter ended June 30, 2020. After the lifting of the state of emergency, operations gradually resumed, and results in the second quarter ended September 30, 2020 and thereafter are on a recovery trend due to various government measures, etc., but the effects have continued mainly due to the trend of refraining from going out in response to the resurgence of COVID-19.
Results for this fiscal year ended March 31, 2021 showed decreases in both revenues and profit with ¥907.7 billion in operating revenue (down 5.8% from the previous fiscal year), ¥56.5 billion in operating profit (down 28.7%) and ¥46.6 billion in ordinary profit (down 31.0%) due to the impact of the spread of COVID-19, mainly in the Wellness business and Tokyu Hands business, despite an increase in revenues and profit in the Urban Development business because of newly opened development projects and an increase in revenues from sales of properties including buildings for investors, and operation projects in the renewable energy business, as well as ¥21.7 billion in profit attributable to owners of parent (down 43.9%) due to the recording of loss, etc. as extraordinary losses due to COVID-19.

  • Tokyo PortCity Takeshiba

    Tokyo PortCity Takeshiba

2020/3

Financial Results (Consolidated) 2020/3

Results for this fiscal year ended March 31, 2020 showed ¥963.2 billion in operating revenue (up 6.8% from the previous fiscal year), ¥79.3 billion in operating profit (down 1.1%), ¥67.5 billion in ordinary profit (down 4.6%) and ¥38.6 billion in profit attributable to owners of parent (up 3.1%).
Reflecting continued strong performance of the real estate market, both revenues and profit increased in the Urban Development segment, Residential segment, Property Management segment and Real-Estate Agents segment. On the other hand, due to the impact of the spread of COVID-19, both revenues and profit decreased in the Wellness segment, Tokyu Hands segment and other segments. As a result, regarding results for this period, revenues increased but operating profit decreased. However, profit attributable to owners of parent increased due to a decrease in extraordinary losses.

  • Shibuya Solasta

    Shibuya Solasta

  • Shibuya Fukuras

    Shibuya Fukuras

2019/3

Financial Results (Consolidated) 2019/3

Results for this fiscal year ended March 31, 2019 showed ¥901.9 billion in operating revenue (up 4.1% from the previous fiscal year), ¥80.2 billion in operating profit (up 3.5%), ¥70.7 billion in ordinary profit (up 3.0%) and ¥37.5 billion in profit attributable to owners of parent (up 6.5%).
Reflecting continued strong performance of the real estate market, both revenues and profit increased due to an increase in the delivery of new facilities and greater property sales in the Wellness segment, and to the strong performance in the Real-Estate Agents segment, although there was a decrease in revenues due to declined revenues from sales of properties including buildings for investors in the Urban Development segment, and a decrease in the number of condominium units sold in the Residential segment.

  • BRANZ Roppongi The Residence

    BRANZ Roppongi The Residence

  • BRANZ Futako Tamagawa Terrace

    BRANZ Futako Tamagawa Terrace

2018/3

Financial Results (Consolidated) 2018/3

Results for this fiscal year ended March 31, 2018 showed ¥866.1 billion in operating revenue (up 7.1% from the previous fiscal year), ¥77.5 billion in operating profit (up 5.9%), ¥68.7 billion in ordinary profit (up 8.0%) and ¥35.2 billion in profit attributable to owners of parent (up 11.6%).
Reflecting continued strong performance of the real estate market, both revenues and profit increased mainly due to an increase in revenues from sales of properties including buildings for investors, improvement in lease revenues from existing buildings, and a contribution from NATIONAL STUDENTS INFORMATION CENTER, which became a consolidated subsidiary in the previous fiscal year, in the Urban Development segment, as well as to a strong performance in the Real-Estate Agents segment.

  • BRANZ Tower Midosujihommachi

    BRANZ Tower Midosujihommachi

  • BRANZ Tower・Wellith Shinsaibashi SOUTH

    BRANZ Tower・Wellith Shinsaibashi SOUTH

2017/3

Financial Results (Consolidated) 2017/3

Results for this fiscal year ended March 31, 2017 showed ¥808.5 billion in operating revenue (down 0.9% from the previous fiscal year), ¥73.2 billion in operating profit (up 6.5%), ¥63.6 billion in ordinary profit (up 12.9%) and ¥31.5 billion in profit attributable to owners of parent (up 9.7%).
Although revenues decreased due partly to lower revenues from sales of properties including buildings for investors in the Urban Development segment, profit increased mainly due to higher profit from sales of condominiums in the Residential segment and to strong performance in the Real-Estate Agents segment and the Wellness segment, specifically at Tokyu Stay urban style hotels.

  • Shibuya Dogenzaka 1-chome Block Development Project Open FY2019(Plan)

    Shibuya Dogenzaka 1-chome Block Development Project Open FY2019(Plan)

  • (tentative name) Shibuya Nampeidai Block Reconstruction Plan Open FY2019(Plan)

    (tentative name) Shibuya Nampeidai Block Reconstruction Plan Open FY2019(Plan)

Shibuya redevelopment 2 project start

2016/3

Financial Results (Consolidated) 2016/3

Results for this fiscal year ended March 31, 2016 showed ¥815.5 billion in operating revenue (up 5.5% from the previous fiscal year), ¥68.8 billion in operating income (up 8.6%), ¥56.4 billion in ordinary income (up 9.1%) and ¥28.7 billion in profit attributable to owners of parent (up 13.8%).

Revenues increased mainly due to strong performance in the Real-Estate Agents segment and increased bulk sales of land in the Residential segment and profit increased thanks in part to higher gains on sales of properties including buildings for investors in the Urban Development segment.

  • Tokyu Plaza Ginza

    Tokyu Plaza Ginza

  • Tokyu Plaza Ginza

    Tokyu Plaza Ginza

2015/3

Financial Results (Consolidated) 2015/3

Results for this fiscal year ended March 31, 2015 showed ¥773.1 billion in operating revenue (up 8.3% from the previous fiscal year), ¥63.3 billion in operating income (up 3.0%), ¥51.7 billion in ordinary income (up 2.2%) and ¥25.2 billion in net income (up 6.4%).
Both revenues and profit increased mainly due to an increase in revenues from sales of properties including buildings for investors and the start of new facilities operations in the Urban Development segment. Net income increased mainly due to an improvement in minority interests in income (loss) following the shift to a holding company system.

  • Q plaza HARAJUKU

    Q plaza HARAJUKU

  • Shin-Aoyama Tokyu Building

    Shin-Aoyama Tokyu Building

2014/3

Financial Results (Consolidated) 2014/3

Results for this fiscal year ended March 31, 2014 showed an increase in revenues and profit with ¥714.1billion in operating revenue (up 19.8% from the previous year), ¥61.4 billion in operating income (up 18.2%) and¥50.6 billion in ordinary income (up 26.8%), thanks mainly to an increase in sales of condominiums, strong sales in the real-estate sales agent business and the consolidation of United Communities Co., Ltd. as a subsidiary.
Net income increased to ¥23.7 billion (up 7.1%). This was mainly due to an increase in minority interests in income, in spite of the recording of gain on sales of non-current assets of ¥8.4 billion from the transferring of assets to Activia Properties Inc. in the previous year.

  • Tokyu Harvest Club Atami Izusan & VIALA

    Tokyu Harvest Club Atami Izusan & VIALA

2013/3

Financial Results (Consolidated) 2013/3

Results for this fiscal year ended March 31, 2013 showed an increase in revenues and profit with ¥595.9 billion in operating revenue (up 7.0% from the previous year). ¥52.0 billion in operating income (up 3 .8%) and ¥39.9 billion in ordinary income (up 14.5%). This was the result of an increase in sales in the Real Estate Sales segment and strong sales in the real-estate sales agent business in the Real-Estate Agents segment. Following the listing of Activia Properties Inc. in June 2012, which entrusts the Company's wholly-owned subsidiary. TLC Activia Investment Management Inc., with its asset management, part of the commercial facilities and office buildings owned by the Company and its consolidated subsidiaries were transferred to Activia Properties. As a result, gain on sales of noncurrent assets of ¥8.4 billion was recorded as extraordinary income. Net income decreased to ¥22.1 billion (down 35.2%). This was mainly the result of a decrease in extraordinary income and loss and an increase in tax expenses.

  • Shin-Meguro Tokyu Building

    Shin-Meguro Tokyu Building

2012/3

Financial Results (Consolidated) 2012/3

Results for this fiscal year ended March 31, 2012 showed a decrease in revenues and profit with ¥556.8 billion in operating revenue (down 2.6% from the previous year), ¥50.1 billion in operating income (down 19.9%) and ¥34.9 billion in ordinary income (down 36.5%). The main factors of this result were the existence of distributions from the sale of a building through SPCs in the previous year and a decline in sales from condominium development.
Meanwhile, net income substantially increased to ¥34.2 billion (up 194.9%). This was the result of the recording of gain on negative goodwill, etc. of ¥49.0 billion as extraordinary income associated with the consolidation of silent partnerships, etc. and impairment loss, etc. of ¥41.7 billion as extraordinary loss associated with the consolidation of silent partnerships, etc. and with the decision to transfer commercial facilities and office buildings, as well as a decrease in tax expenses due to the change in corporate tax rate by amendment of the Corporation Tax Act, etc.

  • Tokyu Plaza OmotesandoHarajuku

    Tokyu Plaza OmotesandoHarajuku

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