決算ハイライト:2024年3月期決算サマリー

1

ハイライト

Financial Highlights : Summary of FY2023 Financial Results

Highlights

■Highlights of Financial Results for the Current Period and Forecast for the Next Period

Operating Income 339.6 billion yen, an increase of 11% YoY. Net Profit*1 of 224.6 billion yen, up 14% YoY.

FY2023

Revenues, Operating Income, Ordinary Income, and Net Profit*1

all exceeded forecasts and reached record highs.

This is the 12th consecutive year of record-high revenues, and the 2nd consecutive year of record-high

Operating Income, Ordinary Income, and Net Profit*1.

FY2023

FY2022

Change（Rate）

Results（A）

Results（B）

Billions of Yen）

2023.4.1-2024.3.31

2022.4.1-2023.3.31

（A-B）

（A/B)-1

Revenues

High

2,383.2

2,269.1

+114.1

+5.0%

from

Record

Operations

Operating

Record

339.6

305.4

+34.2

+11.2%

Income

High

Ordinary

Record

267.8

265.3

+2.5

+1.0%

Income

High

Net

Record

224.6

196.9

+27.6

+14.0%

Profit*1

High

FY2023

Change

Forecast（C）

As of Feb.9, 2024

2023.4.1-2024.3.31

（A/C）

2,300.0 103.6%

  1. 101.4%
  1. 101.1%
  1. 102.1%

【Reference】KPIs

FY2021

FY2022

FY2023

ROA

3.3%

3.9%

3.9%

ROE

6.6%

6.9%

7.5%

EPS*

¥61.5

¥69.3

¥80.2

D/E ratio

1.31

1.4

1.42

＊Adjusted to post-stock-split basis (1 share to 3 shares) effective April 1, 2024 and rounded to two decimal places.

Revenues of 2,600 billion yen, Business Income*2 of 370 billion yen, and Net Profit*1 of 235 billion yen.

FY2024

Revenues and Net Profit*1 are expected to reach record highs for the 13th and 3rd consecutive terms, respectively,

Business Income*2 is expected to increase by 23.8 billion yen from the current fiscal year.

FY2023

FY2024

Change（Rate）

Results（A）

Forecast（D)

Billions of Yen）

2023.4.1-2024.3.31

2024.4.1-2025.3.31

（D-A）

（D/A）-1

Revenues

2,383.2

High

2,600.0

+216.7

+9.1%

from

Record

Operations

Business

346.1

370.0

+23.8

+6.9%

Income

Ordinary

267.8

260.0

-7.8

-2.9%

Income

Net

224.6

Record

235.0

+10.3

+4.6%

Profit*1

High

MITSUI FUDOSAN CO.,LTD

*1 Profit attributable to owners of parent

*2 Operating income + Equity in earnings/losses of affiliates (including Gain/loss on sales ofshares of subsidiaries and affiliates for the purpose of real estate sales)+Gain/loss on sales of fixed assets

3

決算ハイライト:2024年3月期決算サマリー

1

ハイライト

Financial Highlights : Summary of FY2023 Financial Results

Highlights

■Shareholder Return Highlights

Annual dividend of 84/share*1 (planned. 2 increase from 82/share in the dividend forecast),

Current fiscal year (FY2023): repurchase of treasury stock of 40 billion (planned, to be decided on April 11, 2024) Total return ratio*2 52.7% (planned)

Next fiscal year (FY2024):

Annual dividend of 30/share (Planned: Increase of 2/share from 28/share for the current fiscal year

(post-split basis). This is the fourth consecutive year of dividend increase.)

*1

Based on shares before the stock split (3-for-1 common stock split) implemented on April 1, 2024

*2

(Total dividends paid during the period + Total shares repurchased during the period) / Profit attributable to shareholders of the parent company

Period

Item

Contents

Annual

84/Share

Interim dividend:35/Share（completed）

dividend

(Planned)

Year-end dividend:49/Share（Planned）

FY2023

Share

40.0

Repurchase period

repurchases

2023.4.1-2024.3.31

(Planned)

2024.４.12-2025.３.31

（Total）

Total

52.7%

(Total dividends for the year + Total share

return

repurchases for the year)

(Planned)

ratio

/ Profit attributable to owners of parent

■ Profit attributable to owners of parent and annual dividend per share

(Annual dividend per share is adjusted after the stock split (from 1 share to 3 shares) implemented on 4/1/2024 and rounded to the nearest whole number.)

Net profit, Millions of yen (left axis)

（Forecast）

Dividend per share, Yen (right axis)

30

300,000

28

30

250,000

25

（Forecast）

21

200,000

18

20

151515

150,000

13

15

11

10

100,000

8

10

7

7

7

7

7

7

7

5

FY2024

2024.4.1-2025.3.31

Annual

dividend

30/Share

(Planned)

Interim dividend:15/Share（Planned） Year-end dividend:15/Share（Planned）

Dividend increased by 2 from 28 /share for the current fiscal year (post stock split basis)

50,000

3

5

2

2

2

2

0

0

FY2001

FY2002

FY2003

FY2004

FY2005

FY2006

FY2007

FY2008

FY2009

FY2010

FY2011

FY2012

FY2013

FY2014

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

MITSUI FUDOSAN CO.,LTD

4

決算ハイライト:2024年3月期 決算実績

1

ハイライト

Financial Highlights:Summary of FY2023 Financial Results

Highlights

賃貸

分譲

マネジメント

施設営業

Increase: Mainly due to higher revenue and profit from overseas offices (50 Hudson Yards) and sales growth of domestic commercial facilities

Decrease: Progress of delivery of "Park Court Jingu Kitasando The Tower"

and "Park Tower Kachidoki Mid" in domestic residential property sales, etc. Increase: Growth in revenue and profit from Repark (Car park leasing),

increase in project management fees, etc.

Increase: Significant improvement in revenue and profit of hotels and resorts, increase in operating days and number of visitors to Tokyo Dome, etc.

Office

Vacancy Rate of

Tokyo metropolitan area

2.2%

As of Mar. 31, 2023 : 3.8%

Retail facilities

YoY in Domestic Facility

Revenue

+7.4%

Comparison based on

existing properties

Property Sales to

indivisuals

(Domestic)

Operating income ratio

15.8%

FY2022 : 14.6%

Lodging-focused

hotels

Average

Occupancy Rate (FY2023)

83%

FY2022 : 82%

（単位:十億円）

(Billions of Yen)

決算実績

Financial Results

2024年3月期

2023年3月期

前年同期比

FY2023

FY2022

Y on Y

通期実績

通期実績

増減

増減率

Results

Results

Change

Rate

(A)

(B)

(A)-(B)

(A)/(B)-1

公表との差異

Change Against Forecast

2024年3月期 通期予想

通期予想との比較

Comparison with full-

FY2023 Forecast

year forecast

（2024/2/9）

達成率

(Feb. 9, 2024)

Achievement Rate

(C)

(A)/(C)

営業収益

Revenue from Operations

Record High 2,383.2

2,269.1

+114.1

+5.0%

2,300.0

103.6%

賃貸

Leasing

167.8

149.7

+18.0

+12.0%

167.0

100.5%

国内/to individuals

49.7

39.3

+10.4

+26.5%

50.0

99.6%

投資家/to investors

82.1

106.4

-24.3

-22.8%

81.0

101.5%

分譲

Property Sales

131.9

145.8

-13.8

-9.5%

131.0

100.7%

マネジメント Management

66.2

63.3

+2.9

+4.6%

65.0

102.0%

施設営業

Facility Operations

26.3

-3.6

+30.0

-

24.0

109.7%

その他

Other

2.1

-0.9

+3.0

-

2.0

109.3%

消去他

Elimination or Corporate

-54.8

-49.0

-5.8

-

-54.0

-

営業利益

Operating Income

Record High

339.6

305.4

+34.2

+11.2%

335.0

101.4%

営業外損益

Non-operating Income/Expenses

-71.8

-40.0

-31.7

-70.0

純金利負担 Interest Income / Expence, in Net

-72.3

-53.9

-18.3

その他

Other, in Net

0.5

13.9

-13.4

経常利益

Ordinary Income

Record High

267.8

265.3

+2.5

+1.0%

265.0

101.1%

特別利益

Extraordinary Income

66.1

44.0

+22.0

65.0

特別損失

Extraordinary Loss

-

-13.5

+13.5

法人税等

Income Taxes

-106.3

-92.5

-13.8

-106.0

親会社株主に帰属する当期純利益

Record High

224.6

196.9

+27.6

+14.0%

220.0

102.1%

Profit attributable to owners of parent

MITSUI FUDOSAN CO.,LTD

5

決算ハイライト:利益指標「事業利益」の新設

1

ハイライト

Financial Highlights:Establishment of new profit indicator "Business Income"

Highlights

2024年4月11日に公表した次期を初年度とするグループ⾧計経営方針「＆ INNOVATION 2030」において、新たな利益指標として「事業利益」を設定。

In the Group's Long-Term Vision "& INNOVATION 2030," which was announced on April 11, 2024 and will begin in the next fiscal year, "Business Income" was set as a new profit indicator.

■ 事業利益＝営業利益＋持分法投資損益等(不動産分譲を目的とした関係会社株式売却損益含む)＋固定資産売却損益

Business Income = Operating Income + Equity in earnings (losses) of affiliates (including gains (losses) on

sales of stocks of subsidiaries and affiliates for the purpose of property sales) + Gains (losses) on sales of fixed assets

営業利益 Operating Income

賃貸

Leasing

分譲

Property Sales

マネジメント

Management

施設営業

Facility Operations

その他

Other

全社費用・消去

Elimination or Corporate

持分法投資損益

Equity in Net Income or Loss of Affiliated Companies

固定資産売却損益

Gain / Loss on Retirement of Non－current Assets

純金利負担

Interest Income/Expense, in Net

その他

Other, in Net

営業外損益・特別損益

Non-operating and Extraordinary Income/Loss

MITSUI FUDOSAN CO.,LTD

事業利益 Business Income

賃貸

Leasing

営業利益

Operating Income

持分法投資損益

Equity in Net Income or Loss of Affiliated Companies

分譲

Property Sales

営業利益

Operating Income

持分法投資損益

Equity in Net Income or Loss of Affiliated Companies

固定資産売却損益

Gain / Loss on Retirement of Non－current Assets

マネジメント

Management

営業利益

Operating Income

持分法投資損益

Equity in Net Income or Loss of Affiliated Companies

施設営業

Facility Operations

営業利益

Operating Income

持分法投資損益

Equity in Net Income or Loss of Affiliated Companies

その他

Other

営業利益

Operating Income

持分法投資損益

Equity in Net Income or Loss of Affiliated Companies

全社費用・消去 Elimination or Corporate

6

決算ハイライト:連結業績予想（2024年5月10日公表）

1

ハイライト

Financial Highlights:Consolidated Statements of Earning Forecast (Announced : May 10, 2024)

Highlights

Both net revenue and profit attributable to owners of the parent company are expected to reach record highs, incorporating profit growth due to accelerated asset replacement that takes into account total fixed assets, real estate for sale, and investment securities, as well as further revenue and profit growth at hotels and resorts, which are performing well.

Under the Group's long term vision "& INNOVATION 2030," which will begin in the next fiscal year, "Business Income" has been established as a new profit indicator. In line with this, the forecast for each segment below is based on Business Income. Business income: Operating income + Equity in earnings (losses) of affiliates (*) + Gain (loss) on sales of noncurrent assets

（単位:十億円）

(Billions of Yen)

2025年3月期

通期予想

(2024/5/10公表）

FY2024 Forecast

(As of May 10, 2024)

(A)

2024年3月期

通期実績

FY2023 Results

(B)

増減

Change

(A)-(B)

増減率 Rate of Change

(A/B-1)×100

❶Leasing Segment

Despite some profit impact from asset turnover, increase in profit is expected mainly due to sales growth in domestic commercial facilities and profit contribution from properties in operation for the full fiscal year.

営業収益

Revenue from Operations

2,600.0

2,383.2

+216.7

+9.1%

営業利益

Operating Income

340.0

339.6

+0.3

+0.1%

営業外損益

Non-operating Income/Expenses

-80.0

-71.8

-8.1

純金利負担 Interest Income/Expense, in Net

-79.0

-72.3

-6.6

その他 Other, in Net

-1.0

0.5

-1.5

経常利益

Ordinary Income

260.0

267.8

-7.8

-2.9%

特別損益

Extraordinary Income/Loss

85.0

66.1

+18.8

法人税等

Income Taxes

-113.0

-106.3

-6.6

親会社株主に帰属する当期純利益

235.0

224.6

+10.3

+4.6%

Profit attributable to owners of parent

賃貸

Leasing

❶

170.0

169.0

+0.9

+0.5%

分譲

Property Sales

❷

170.0

135.1

+34.8

+25.8%

マネジメント Management

❸

60.0

66.2

-6.2

-9.5%

施設営業

Facility Operations

❹

30.0

26.3

+3.6

+13.9%

その他

Other

0.0

4.1

-4.1

-

消去他

Elimination or Corporate

-60.0

-54.8

-5.1

-

事業利益

Business Income

370.0

346.1

+23.8

+6.9%

❷Property Sales Segment

We expect a significant increase in profit by accelerating asset turnover by capturing real estate for sale and fixed assets in total.In the domestic residential property sales segment, we forecast a record-high profit margin of 22.9% due to the recording of high-profit margin properties in central Tokyo, high price, and large scale.Contracts are 84.4% of the 3,650 units planned for the next fiscal year.

❸Management Segment

Profit is expected to decrease due to the absence of project management fees for large properties recorded in the current fiscal year, etc.

❹Facility Operations Segment

We expect profit growth due to further revenue and profit growth in the hotel and resort business on the back of strong demand, and improved earnings at the Tokyo Dome through value-up measures.

  1. Equity in earnings (losses) of affiliates includes gains (losses) on sales of shares of affiliated companies for the purpose of real estate sales.

MITSUI FUDOSAN CO.,LTD

7

主要セグメント 利益成⻑の推移

1

ハイライト

Trend of Income Growth in Major Segments

Highlights

Segment income are expected to grow steadily toward the achievement of the "& INNOVATION 2030" target for FY2026.

（Billions of yen）

Leasing

Property Sales

（Billions of yen）

200.0

Around

250.0

180.0

¥180.0B

200.0

160.0

150.0

140.0

100.0

120.0

50

¥23.0B

¥104.3B

100.0

0.0

Around

¥210.0B

（Billions of yen）

Management

Facility Operations

Around

80.0

Around

（Billions of yen）

¥30.0B

¥70.0B

30.0

70.0

60.0

¥26.3B

50.0

25.0

¥41.5B

40.0

30.0

20.0

20.0

*Operating income basis until FY2022 and business income basis after FY2023

MITSUI FUDOSAN CO.,LTD

8

決算実績と業績予想（営業利益・純利益）および新型コロナウイルス影響

Financial Results, Forecast (Operating Income and Bottom Line), and the Impact of COVID-19

（Billions of Yen）

Operating income

Profit attributable to owners of pearent 305.4

300.0 280.6

244.9

203.7

200.0

183.9

176.9

196.9

100.0

129.5

0.0

  • ハイライトHighlights

339.6

224.6

FY2019

FY2020

FY2021

FY2022

FY2023

FY2020(Results)

FY2021(Results)

FY2022(Results)

FY2023

■The impact of COVID-19*

Approx. 104.0 bil.

Approx. 63.0 bil.

Approx. 23.0 bil.

【Breakdown】

【Breakdown】

【Mainly inpacted businesses】

Operating

84.0 bil.

Operating

56.0 bil.

Hotels and Resorts

Non

20.0 bil.

Non

7.0 bil.

Tokyo Dome

-Operating

-Operating

recovered

*FY2020 and Fy2021:Difference between the profit of each business affected by the impact of COVID-19 for wach year and the actual results for same period in FY2019 FY2022:Estimated based on "profit that could be expected without the impact of COVID-19 for each business at the present time.

MITSUI FUDOSAN CO.,LTD

9

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Mitsui Fudosan Co. Ltd. published this content on 10 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2024 06:08:58 UTC.