tokyu land corporation

Financial Highlights
FY2020 First Quarter (First Three Months) Ended June 30, 2020






Overview of the FY2020 First Quarter (First Three Months) Ended June 30, 2020

FY2020 Q1 (First Three Months) Operating Results

Effects of the Coronavirus in FY2020 Q1 (First Three Months)

FY2020 Q1 (First Three Months) Segment performance

FY2020 Q1 (First Three Months) Summary of balance sheets

Urban Development


Property Management

Real Estate Agents


Tokyu Hands

Innovation Business

Development of Business to Address Social Issues

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(1) FY2020 Q1 (First Three Months)

I will now provide an overview of each segment.
Let me start with the Urban Development segment.

The segment reported an increase in revenue for the first quarter, reflecting the contribution of new properties which opened the previous fiscal year, and higher revenue from property sales to investors.

Earnings from property sales to investors during the first quarter were revenue of 17.9 billion yen and gross profit of 0.8 billion yen.

In the same quarter of the previous fiscal year, revenue was 8.0 billion yen and gross profit was 1.7 billion yen.

The decline in operating profit is largely attributable to the effects of the spread of the coronavirus.

Following the declaration of a state of emergency, key commercial facilities such as Tokyu Plaza closed, and we exempted full or partial rent for some tenants to support them during the period of closure.

The rental meeting rooms business which is included in Leasing (Residence), etc. was also affected by restrictions such as closure.

Extraordinary loss on COVID-19 impact in the Urban Development segment was 2.3 billion yen, as shown outside the table.

In our full-year forecast, we project declines in revenue and operating profit, reflecting decreased revenue from commercial facilities due to the effects of the spread of coronavirus and decreased revenue from property sales to investors, despite the expected occupancy of new properties such as Tokyo PortCity Takeshiba.