Name of Company Listed: Leopalace21 Corporation Stock Listing: Tokyo Stock Exchange Code Number: 8848 URL: http://eg.leopalace21.com/ Location of Head Office: Tokyo Representative: Position: President and CEO Name: Eisei Miyama
Name of Contact Person: Position: Director Name: Bunya Miyao Telephone: +81-3-5350-0216 Scheduled Date of Filing of Securities Report (Japanese only): August 9, 2016
Supplemental Explanatory Material Prepared: Yes Results Briefing Held: No
- Results for the Three Months ended June 30, 2016 (April 1, 2016 through June 30, 2016)
Consolidated financial results (Amounts less than one million yen are omitted) (The percentage figures indicate rate of gain or loss compared with the same period last year)
Net sales
Operating profit
Recurring profit
Net income attributable to shareholders of the parent
Three months ended June 30, 2016
Three months ended June 30, 2015
Million yen
125,998
124,728
%
1.0
-
Million yen
5,646
4,425
%
27.6
-
Million yen
5,203
4,122
%
26.2
-
Million yen
4,429
3,436
%
28.9
-
(Note) Comprehensive income in the three months ended June 30, 2016: 1,461 million yen (-56.1%); three months ended June 30, 2015: 3,331 million yen (-%)
Net income per share
Diluted net income per share
Three months ended June 30, 2016
Three months ended June 30, 2015
Yen
16.85
13.07
Yen
-
-
(Note) Rate of gain or loss compared to the previous year are omitted, since figures are retrospectively adjusted due to changes in accounting policies.
Consolidated financial position
Total assets
Net assets
Equity ratio
Equity per share
As of June 30, 2016
Million yen
Million yen
%
Yen
315,608
143,688
45.5
546.53
As of March 31, 2016
327,609
144,865
44.2
550.94
(Reference) Shareholders' equity as of June 30, 2016: 143,669 million yen; as of March 31, 2016: 144,827 million yen (Note) Figures as of March 31, 2016 are retrospectively adjusted due to changes in accounting policies.
-
Dividend Status
Dividend per share
End of Q1
End of Q2
End of Q3
End of FY
Annual
FY ended March 31, 2016
Yen
Yen
Yen
Yen
Yen
―
0.00
―
10.00
10.00
FY ending March 31, 2017
―
FY ending March 31, 2017 (Estimate)
10.00
―
12.00
22.00
(Note) Restatement of most recent dividend forecast: None
-
Estimation of Consolidated Business Results for the Fiscal Year ending March 31, 2017 (April 1, 2016 through March 31, 2017)
(The percentage figures for full year indicate rate of gain or loss compared with the previous FY, while those for the interim
period indicate rate of gain or loss compared with the same term in the previous FY)
Net sales
Operating profit
Recurring profit
Net income attributable to shareholders of the parent
Net income per share
Six months ending September 30, 2016
Million yen
%
Million yen
10,000
22,500
%
Million yen
9,800
21,500
%
Million yen
8,500
18,500
%
Yen
253,500
0.4
-6.5
-1.4
1.2
32.33
FY ending March 31, 2017
528,000
3.2
6.7
8.0
-5.8
70.38
(Note) Restatement of most recent consolidated business results forecast: None
(Note) Since previous year figures are retrospectively adjusted due to changes in accounting policies, rate of gain or loss compared to the previous year are adjusted.
- Other
Changes in major subsidiaries during the subject period (change in specific subsidiaries resulting in a change in the scope of consolidation): None
Use of accounting procedures specific to the preparation of quarterly financial statements: Yes
(Note) Refer to P.6 "2. Matters Relating to Summary Information (Notes) (2) Application of Accounting Methods Specific to the Preparation of Quarterly Consolidated Financial Statements" for details.
Changes in accounting principles, procedures or reporting methods used in preparation of financial statements
Changes in accounting policies accompanying revision of accounting standards, etc.: Yes
Changes in accounting policies other than (i) above: Yes
Changes in accounting estimates: None
Restatements: None
(Note) For details, please refer to P.6 "2. Matters Relating to Summary Information (Notes) (3) Changes in Accounting Policy, Changes in Accounting Estimates, and Restatements."
Total number of outstanding shares (common stock)
Total number of outstanding shares at term end (including treasury stock)
As of June 30, 2016: 267,443,915 shares, As of March 31, 2016: 267,443,915 shares
Total treasury stock at term end
As of June 30, 2016: 4,569,520 shares, As of March 31, 2016: 4,569,520 shares
Average number of outstanding shares during the period
As of June 30, 2016: 262,874,395 shares, As of June 30, 2015: 262,874,485 shares
*Indication regarding the status of auditing:
These financial statements are not subject to auditing under the Financial Instruments and Exchange Act. The review of these financial statements in accordance with the Financial Instruments and Exchange Act are not completed at the time of disclosure.
*Explanation on the proper use of the business forecasts, and other special notices: (Note on the business forecasts and other forward-looking statements)
The business forecasts and other forward-looking statements contained in this report are based on information currently available to the Company and on certain assumptions that Leopalace21 has judged to be reasonable. Readers should be aware that a variety of factors might cause actual results to differ significantly from these forecasts.
For assumptions of business forecasts and notes on the proper use of these forecasts, please refer to P.5 "1. Business Results (3) Explanation Concerning Business Forecasts and Other Forward-looking Statements."
(Method for the acquisition of supplemental explanatory material)
Supplemental Explanatory Material on quarterly financial statements is scheduled to be posted on the Company's web site on August 5, 2016.
【Table of Contents】
- Business Results 4
Analysis of Business Results 4
Analysis of Consolidated Financial Position 5
Explanation Concerning Business Forecasts and Other Forward-looking Statements 5
- Matters Relating to Summary Information (Notes) 6
Changes in Significant Subsidiaries during the First Quarter under Review 6
Application of Accounting Methods Specific to the Preparation of Quarterly Consolidated Financial Statements 6
Changes in Accounting Policy, Changes in Accounting Estimates, and Restatements 6
- Consolidated Financial Statements 7
Consolidated Balance Sheets 7
Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income 9
Consolidated Statements of Operations 9
Consolidated Statements of Comprehensive Income 10
Notes Regarding Consolidated Financial Statements 10
(Segment Information) 11
1. Business ResultsThe accounting policy concerning revenue recognition has been changed from the subject period, and previous figures have been retrospectively adjusted. Please refer to P.6 "2. Matters Relating to Summary Information (Notes) (3) Changes in Accounting Policy, Changes in Accounting Estimates, and Restatements" for details.
(1) Analysis of Business Results(Million yen)
Net sales
Operating profit
Recurring profit
Net income attributable to shareholders of the parent
Three months ended June 30, 2016
125,998
5,646
5,203
4,429
Three months ended June 30, 2015
124,728
4,425
4,122
3,436
Difference
+1,269
+1,221
+1,081
+993
During the subject three months, the domestic economy showed gradual progression supported by improvements in employment and income, despite the standstill in individual consumption.
Apartment construction remains a popular strategy to reduce inheritance tax, and new housing starts of leased units has trended strongly mainly in the urban areas. On the other hand, as the number of vacant houses continues to increase and recovery in nationwide demand becomes difficult, achieving stable occupancy rates requires constructing apartments in areas with high demand, in addition to providing high-quality products and services that meet tenants' needs.
Under these conditions, the Leopalace21 Group (the "Group") aims to achieve targets of the Medium-term Management Plan "EXPANDING VALUE," by building a solid management structure focusing on the core businesses, made up of Leasing and Construction. In addition, the Group aims to establish new businesses that will contribute to future growth.
As a result, consolidated net sales for the subject first quarter came to 125,998 million yen (up 1.0% year-on-year). Operating profit was 5,646 million yen (up 27.6% year-on-year), recurring profit was 5,203 million yen (up 26.2% year-on-year), and net income attributable to shareholders of the parent was 4,429 million yen (up 28.9% year-on-year).
(Actual figures by segment) (Million yen)
Net sales
Operating profit
Three months ended
June 30, 2015
Three months ended
June 30, 2016
Difference
Three months ended
June 30, 2015
Three months ended
June 30, 2016
Difference
Leasing Business
102,213
104,413
+2,200
5,746
6,288
+542
Construction Business
15,423
14,339
(1,083)
(461)
(101)
+359
Elderly Care Business
2,677
2,770
+92
(277)
(474)
(196)
Hotels & Resort Business
3,159
3,070
(89)
97
378
+281
Others
1,254
1,404
+150
286
419
+132
Adjustments
-
-
-
(965)
(863)
+101
Total
124,728
125,998
+1,269
4,425
5,646
+1,221
(i) Leasing Business
The occupancy rate at the end of the first quarter was 88.60% (up 1.01 points from the end of the same quarter last year) and the average occupancy rate for the period was 88.71% (up 1.01 points year-on-year).
In the Leasing Business, to establish stable profits led by occupancy improvement, the Group implemented measures to promote longer rent periods such as expanding tenant services including "Room Customize" and providing a website for tenants, as well as further strengthening sales for female and corporate customers by security system installations. In addition, the Group aims to increase foreign tenants by refining customer support.
The number of units under management at the end of the first quarter was 564,000 (increasing 2,000 from the end of the previous fiscal year), the number of direct offices was 189 (no change from the end of the previous fiscal year), and the number of franchise offices was 127 (decreasing 3 from the end of the previous fiscal year).
As a result, net sales amounted to 104,413 million yen (up 2.2% year-on-year), and operating profit was 6,288 million yen (up 9.4% year-on-year).
Leopalace21 Corporation published this content on 05 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 August 2016 05:20:10 UTC.
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