|
|
 |
|
 |
|
 |
|
Next, I will move on to explain the full-year performance forecast for the fiscal year ending March 31, 2014 once again, compared to Tokyu Land Corporation's financial results for the previous fiscal year.
Both revenue and income will increase due to an increase in condominium sales and the contribution of United Communities, which recently became a consolidated subsidiary, to revenue.
We also expect an increase in net income, mainly attributable to the improvement in income from minority interests.
Interest-bearing debt at the end of the current fiscal year will increase ¥90.9 billion from the end of the previous fiscal year, to ¥1,065.0 billion, while the DE ratio is expected to be improved to 2.9 due to an increase in equity.
Income per share, calculated based on the number of shares issued after deducting consolidated equity as of October 1, which was approximately 609 million, will be ¥37.73. The number of shares issued after deducting equity increased about 15% from the number of shares of Tokyu Land Corporation issued as of the end of September, which was approximately 531 million. However, net income will also increase 15% from initial forecasts, and as a result, income per share is expected to be on the same level as initial forecasts and therefore will not be diluted.
The annual dividend per share for the fiscal year ending March 31, 2014 is expected to be ¥4.0, and that for shareholders of Tokyu Land Corporation will be ¥7.5, including the interim dividend of ¥3.5, which will increase ¥0.5 compared to the fiscal year ended March 31, 2013.
|
|
|
