Summary of the Company Performance

Real Estate

In regard to real estate, in order to leverage station location in a more effective manner and increase customers, along with continuing renovations of commercial facilities at Tokyo station we proceeded with works such as an environmental assessment of Nagoya Station New Building Project. In addition, we made Nagoya Terminal Building Company Limited a 100% subsidiary on March 1, 2010 in order to move forward expeditiously and efficiently with business in the area around Nagoya station. In conjunction with this, in regard to the development of sites of former company housing, which is being done from the perspective of effectively leveraging held assets, in addition to starting to hand over the Term I condominiums at "Central Garden Residence Shizuoka" we also opened a portion of commercial facilities.
However, due to the impact of the economic downturn and other factors, operating revenues decreased by 5.3% year-on-year to 66.7 billion yen and operating income decreased by 51.6% year-on-year to 6.7 billion yen.