tokyu land corporation

Financial Highlights FY2011 Ended Mar-31, 2012





FY2011 Operating Results

FY2011 Segment performance

Summary of balance sheets

Properties expected to be sold to Activia Properties Inc.

FY2012 Forecast (Operating Results)

FY2012 Forecast (Segment performance)

Leasing of Real Estate

Real Estate Sales

Facility Operations

Other Segments

Progress of Medium-Term Management Plan [Value Innovation 2013]

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Properties expected to be sold to Activia Properties Inc.

Before moving to a briefing on our forecast for the fiscal year ending March 31, 2013, I would like to explain the transfer of our assets to Activia Properties Inc., which we announced on April 27, 2012.

The sale price will be ¥170.4 billion in total, consisting of ¥137.2 billion for the 12 properties owned by our Leasing of Real Estate segment as noncurrent assets, and ¥33.2 billion for the six properties owned by the Real Estate Sales segment as inventories.

Given the decision on this transfer, we posted extraordinary losses of ¥12.5 billion in the fiscal year ended March 2012.

In the fiscal year ending March 2013, we will post extraordinary income of ¥8.1 billion associated with the transfer of noncurrent assets, operating revenue of ¥33.2 billion, and an operating cost of ¥31.9 billion associated with transfer of inventories.

Because of these transfers, the amount of inventories and noncurrent assets is expected to be reduced by ¥160.8 billion in total in the balance sheet for the fiscal year ending March 2013.