Nomura Real Estate : March-2022 Fact Sheets(For the Fiscal Year Ended March 31, 2022)

March-2022 Fact Sheets

(For the Fiscal Year Ended March 31, 2022)

Released on April 26, 2022

Nomura Real Estate Holdings, Inc.

[Consolidated Financial Summary 1]

Operating revenue

Operating gross profit

Operating profit

Business profit(*1)

Non-operating income

Non-operating expenses

Ordinary profit

Extraordinary income

Extraordinary losses

Profit before income taxes

Profit attributable to owners of parent

(Millions of yen)
2019/03	2020/03	2021/03	2023/03
1Q	2Q	3Q
FY	FY	FY	Apr-Jun '21	Apr-Sep '21	Apr-Dec '21	FY	FY(F)
668,510	676,495	580,660	146,544	257,126	361,004	645,049	680,000
188,712	193,723	183,057	56,769	93,629	127,538	205,312	－
(Gross profit ratio)	28.2%	28.6%	31.5%	38.7%	36.4%	35.3%	31.8%	－
109,549	111,817	106,724	26,275	53,268	78,402	114,101	－
(SG&A ratio)	16.4%	16.5%	18.4%	17.9%	20.7%	21.7%	17.7%	－
79,162	81,905	76,333	30,493	40,360	49,135	91,210	90,500
(Operating profit ratio)	11.8%	12.1%	13.1%	20.8%	15.7%	13.6%	14.1%	－
79,623	82,833	76,448	30,519	40,458	49,299	92,765	97,000
746	1,350	747	172	393	555	1,846	－
Interest and dividend income	114	208	159	50	100	131	167	－
Other	631	1,141	588	122	293	423	1,678	－
10,584	10,178	11,115	2,841	5,610	8,513	10,499	－
Interest expenses	8,753	8,788	9,015	2,186	4,405	6,638	8,825	－
Other	1,831	1,389	2,100	654	1,204	1,874	1,673	－
69,323	73,077	65,965	27,825	35,143	41,178	82,557	85,000
(Ordinary profit ratio)	10.4%	10.8%	11.4%	19.0%	13.7%	11.4%	12.8%	－
－	393	565	－	－	－	－	－
3,916	381	3,710	686	686	1,304	1,505	－
65,407	73,090	62,820	27,138	34,456	39,873	81,052	－
45,873	48,886	42,198	18,606	23,513	26,859	55,312	57,000

(*1) Business profit = operating profit + share of profit (loss) of entities accounted for using equity method + amortization of intangible assets associated with corporate acquisitions

NOMURA REAL ESTATE HOLDINGS

[Consolidated Financial Summary 2]

(Millions of yen)

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

Cash and cash equivalents

2020/03

FY

56,618

(30,490)

(66,821)

77,611

• (*1) Capital investment represents the amount shown for "Purchase of property, plant and equipment and intangible assets" on the consolidated statements of cash flows.

• (*2) Depreciation represents the amount shown for "Depreciation" on the consolidated statements of cash flows.

NOMURA REAL ESTATE HOLDINGS

[Business Unit Information 1]

(Millions of yen)

Residential Development	25,069	25,351	22,421
Commercial Real Estate	37,600	38,941	35,138
Investment Management	5,943	6,853	7,296
Property Brokerage & CRE	8,170	9,097	8,962
Property & Facility Management	7,434	8,474	9,089
Overseas	－	－	－
Other	(43)	(1,267)	(798)
Adjustments (eliminations or corporate)	(5,013)	(5,545)	(5,776)
Total	79,162	81,905	76,333

2019/03	2020/03（*1,2）	2021/03
Operating revenue	FY	FY	FY
Residential Development	375,373	333,966	272,577	309,225	325,000
Housing sales(Japan)	342,055	294,376	247,609	Housing sales(Japan)	284,015	－
Rental housing(sale)(*4)	11,740	17,931	5,035	Rental housing(sale)(*4)	4,120	－
Rental housing(leasing)(*4)	495	1,070	925	Rental housing(leasing)(*4)	1,501	－
Senior	377	451	651	Senior	998	－
Other	20,701	20,136	18,355	Other	18,590	－
Commercial Real Estate	171,612	212,133	179,227	202,460	210,000
Leasing (offices)	53,975	48,562	47,411	Leasing (offices)	45,422	－
Leasing (retail facilities)	13,817	12,910	11,018	Leasing (retail facilities)	12,302	－
Leasing (other)	7,974	8,375	5,776	Leasing (other)	4,131	－
Property for sales (sale)(*5)	65,350	106,816	87,846	Property for sales (sale)(*5)	106,451	－
Property for sales (leasing)(*5)	4,533	7,037	11,239	Property for sales (leasing)(*5)	13,977	－
Fitness	16,647	15,757	11,509	Fitness	13,624	－
Other	9,312	12,674	4,426	Other	6,550	－
Investment Management	9,641	12,059	12,456	12,804	13,000
Property Brokerage & CRE	37,298	39,110	39,436	43,762	44,000
Brokerage fee (retail)	21,618	24,017	23,334	Brokerage fee (retail)	28,706	－
Brokerage fee (wholesale)	11,517	11,138	11,384	Brokerage fee (wholesale)	11,126	－
Other	4,162	3,954	4,717	Other	3,929	－
Property & Facility Management	91,374	98,274	98,384	Property & Facility Management	99,230	104,000
Property & facility management	51,524	55,530	56,783	Property & facility management	58,264	－
Construction ordered	32,371	37,327	35,863	Construction ordered	35,215	－
Other	7,478	5,417	5,737	Other	5,750	－
Overseas	－	－	－	2,628	4,000
Other	94	1,143	2,070	126	0
Adjustments (eliminations or corporate)	(16,885)	(20,193)	(23,492)	(25,188)	(20,000)
Total	668,510	676,495	580,660	645,049	680,000
Operating profit
Business profit (*6)

Operating revenue Residential Development

2022/03 1Q Apr-Jun '21 2Q Apr-Sep '21 3Q Apr-Dec '21 FY
46,602	99,094	138,301	309,225
42,679 － 318 210 3,394	90,121 － 739 436 7,795	123,892 1,570 1,109 701 11,027	284,015 4,120 1,501 998 18,590
67,600	91,721	127,799	202,460
11,076 2,943 1,002 45,489 3,128 2,921 1,038	22,933 5,862 2,055 45,489 6,569 6,474 2,335	34,067 8,923 3,089 57,062 10,170 10,020 4,464	45,422 12,302 4,131 106,451 13,977 13,624 6,550
3,453	6,248	9,603	12,804
10,621	20,699	31,666	43,762
6,774 2,868 978	13,416 5,303 1,979	20,415 8,331 2,919	28,706 11,126 3,929
21,618	46,634	69,946	99,230
14,293 6,013 1,311	28,981 14,893 2,759	43,728 22,098 4,119	58,264 35,215 5,750
－	－	－	－
631	1,343	1,555	2,755
(3,983)	(8,615)	(17,867)	(25,188)
146,544	257,126	361,004	645,049

Commercial Real Estate

Investment Management Property Brokerage & CRE

Overseas

Other

Adjustments (eliminations or corporate) Total

Operating profit

1,726	6,121	5,850	32,519
23,174	24,612	27,470	38,286
2,204	3,725	5,788	7,515
3,195	5,044	8,231	11,713
1,508	3,904	5,844	9,114
－	－	－	－
(155)	(352)	(1,059)	(711)
(1,161)	(2,694)	(2,990)	(7,227)
30,493	40,360	49,135	91,210

Residential Development	32,519	－
Commercial Real Estate	38,286	－
Investment Management	7,515	－
Property Brokerage & CRE	11,713	－
Property & Facility Management	9,114	－
Overseas	(512)	－
Other	(199)	－
Adjustments (eliminations or corporate)	(7,227)	－
Total	91,210	－

Business profit (*6)

Residential Development	25,032	25,339	22,404
Commercial Real Estate	38,043	39,247	35,469
Investment Management	5,969	7,149	7,587
Property Brokerage & CRE	8,170	9,088	8,976
Property & Facility Management	7,464	8,566	9,281
Overseas	－	－	－
Other	(43)	(1,012)	(1,495)
Adjustments (eliminations or corporate)	(5,013)	(5,545)	(5,776)
Total	79,623	82,833	76,448

1,734	6,131	5,872	32,550
23,273	24,779	27,706	38,590
2,282	3,885	6,028	7,836
3,195	5,044	8,231	11,716
1,540	3,956	5,931	9,205
－	－	－	－
(346)	(643)	(1,479)	92
(1,161)	(2,694)	(2,990)	(7,227)
30,519	40,458	49,299	92,765

Residential Development	32,550	32,500
Commercial Real Estate	38,590	41,000
Investment Management	7,836	8,000
Property Brokerage & CRE	11,716	11,500
Property & Facility Management	9,205	9,000
Overseas	291	5,500
Other	(199)	0
Adjustments (eliminations or corporate)	(7,227)	(10,500)
Total	92,765	97,000

• (*1) From the fiscal year ended March 31, 2021, the overseas condominium development and sales business, which had been classified under the Residential Development Business Unit in Nomura Real Estate Development Co., Ltd. and the overseas office and other properties development and leasing business, and ZEN PLAZA CO., LTD., which had been classified under the Commercial Real Estate Business Unit, have been reclassified under the Other. Due to this change, the results for the fiscal year ended March 31, 2020 are classified under the new classification.

• (*2) As of April 1, 2020, NREG TOSHIBA BUILDING FACILITIES Co., Ltd., which had been classified under the Commercial Real Estate Business Unit, has been merged with Nomura Real Estate Partners Co., Ltd. which has been classified under the Property & Facility Management Business Unit. The merger has been carried out with NREG TOSHIBA BUILDING FACILITIES Co., Ltd. being the absorbed company and Nomura Real Estate Partners Co., Ltd. being the surviving company. In line with this change, the results for the fiscal year ended March 31, 2020 are based on the changed classification under the new classification of business unit after the merger.

• (*3) From the fiscal year ending March 31, 2023, the overseas business of development and sale of condominiums, the development and leasing of offices buildings and other properties, and ZEN PLAZA CO., LTD., which had been classified under the Other, have been reclassified under the Overseas Business Unit.

  Due to this change, the results for the fiscal year ended March 31, 2022 are classified under the new classification.

• (*4) Rental Housing refers to properties developed for real estate investment market.

• (*5) Property for sales refers to properties such as office building, retail facility and logistic facility developed for real estate investment market.

• (*6) Business profit = Operating profit + Share of profit and loss of entities accounted for using equity method + Amortization expenses of intangible assets associated with corporate acquisition

NOMURA REAL ESTATE HOLDINGS

3

March-2022 Fact Sheets

[Business Unit Information 2]

(Millions of yen)

Assets

Residential Development

Commercial Real Estate

Investment Management Property Brokerage & CRE

Property & Facility Management

Overseas

Other

Adjustments (eliminations or corporate)

Total

Assets

Residential Development

Commercial Real Estate

Investment Management Property Brokerage & CRE

Property & Facility Management

Overseas business

Other

Adjustments (eliminations or corporate)

Total

Inventories

Inventories

Residential Development	391,508	401,119	463,944	453,714	459,786	468,811	458,049
Commercial Real Estate	245,575	314,297	412,862	424,924	434,855	438,085	436,810
Investment Management	－	－	－	－	－	－	－
Property Brokerage & CRE	－	－	－	－	－	－	－
Property & Facility Management	397	69	44	205	165	439	69
Overseas	－	－	－	－	－	－	－
Other	11	11	11	11	11	11	11
Adjustments (eliminations or corporate)	(567)	(762)	(1,342)	(1,309)	(620)	(621)	(712)
Total	636,925	714,734	875,520	877,546	894,198	906,726	894,229

Residential Development	458,049	－
Commercial Real Estate	436,810	－
Investment Management	－	－
Property Brokerage & CRE	－	－
Property & Facility Management	69	－
Overseas business	－	－
Other	11	－
Adjustments (eliminations or corporate)	(712)	－
Total	894,229	－

Return on Assets (ROA) of Each Business Unit

Return on Assets (ROA) of Each Business Unit

Residential Development	5.4%	5.5%	4.4%	－	－	－	6.3%
Commercial Real Estate	3.5%	3.5%	3.1%	－	－	－	3.2%
Investment Management	14.1%	16.6%	17.7%	－	－	－	18.1%
Property Brokerage & CRE	28.9%	47.2%	35.6%	－	－	－	32.7%
Property & Facility Management	17.6%	18.2%	18.5%	－	－	－	18.8%
Overseas	－	－	－	－	－	－	－
Other	－	－	－	－	－	－	0.1%
Total	4.6%	4.7%	4.1%	－	－	－	4.7%

Residential Development	6.3%	－
Commercial Real Estate	3.2%	－
Investment Management	18.1%	－
Property Brokerage & CRE	32.7%	－
Property & Facility Management	18.8%	－
Overseas business	0.2%	－
Other	－	－
Total	4.7%	－

ROA of each business unit = Business profit / Total assets at the end of the period Total ROA = Business profit / Average assets during the FY

• (*1) From the fiscal year ended March 31, 2021, the overseas condominium development and sales business, which had been classified under the Residential Development Business Unit in Nomura Real Estate Development Co., Ltd. and the overseas office and other properties development and leasing business, and ZEN PLAZA CO., LTD., which had been classified under the Commercial Real Estate Business Unit, have been reclassified under the Other.

  Due to this change, the results for the fiscal year ended March 31, 2020 are classified under the new classification.

• (*2) As of April 1, 2020, NREG TOSHIBA BUILDING FACILITIES Co., Ltd., which had been classified under the Commercial Real Estate Business Unit, has been merged with Nomura Real Estate Partners Co., Ltd. which has been classified under the Property & Facility Management Business Unit. The merger has been carried out with NREG TOSHIBA BUILDING FACILITIES Co., Ltd. being the absorbed company and Nomura Real Estate Partners Co., Ltd. being the surviving company. In line with this change, the results for the fiscal year ended March 31, 2020 are based on the changed classification under the new classification of business unit after the merger.

• (*3) From the fiscal year ending March 31, 2023,the overseas business of development and sale of condominiums, the development and leasing of offices buildings and other properties, and ZEN PLAZA CO., LTD., which had been classified under the Other, have been reclassified under the Overseas Business Unit. Due to this change, the results for the fiscal year ended March 31, 2022 are classified under the new classification.

NOMURA REAL ESTATE HOLDINGS

4