Mori Building Co., Ltd. herein announces its interim financial statements for the six months ended September 2010. For more information, please refer to the attached document.

Highlights of Consolidated Financial Statements

Increased revenue and profits
■Overview of Consolidated Financial Results


■Consolidated Results

  • Operating revenue from April to September 2010 increased by 15.1 billion yen (+17.3%) over the same period the previous year to 102.2 billion yen.
    • Revenue from Leasing Business increased by 2.1 billion yen (+4%) year-on-year to 55.7 billion yen, reflecting tenant move-in, improved occupancy rate, and accompanying construction.
    • Revenue from Property Sales Business increased by 13.2 billion yen (+70%) year-on-year to 32.1 billion yen, due to an increase in proceeds from the sale of properties.
    • Revenue from Facilities Operation Business increased by 1.0 billion yen (+12%) year-on-year to 9.4 billion yen due mainly to improved performance in the hotel business.
    • Revenue from Overseas Business recorded 8.1 billion yen, increase of 0.9 billion yen (+13%) year-on-year, reflecting improved occupancy rate at the Shanghai World Financial Center.
      Note: Business segments have been revised as of the fiscal year ending March 2011. “Property Management Business” is now included in the “Leasing Business (previously Office Building Business)”. “Real Estate Sales Business”, previously a part of “Asset Development and Management Business” is now accounted for in the newly formed “Property Sales Business” segment.
  • Operating profit increased by 5.6 billion yen (+37%) year-on-year to 20.6 billion yen mainly due to improved performance in the Property Sales Business and the Overseas Business.
  • Ordinary profit increased by 3.7 billion yen (+34%) year-on-year to 14.4 billion yen for the same reasons as the increase in the operating profit.
  • Net profit for the six months increased by 3.0 billion yen (+62%) year-on-year to 7.7 billion yen mainly due to decline in extraordinary losses.

■Consolidated Business Forecasts for the Year Ending March 2011

  • Business is progressing as planned; thus, we maintain the business forecast of May 2010 for the fiscal year ending March 2011.
  • Operating revenue is expected to reach 190.0 billion yen (+7% year-on-year), operating profit is expected to increase to 36.0 billion yen (+16% year-on-year), ordinary profit is expected to rise to 24.0 billion yen (+18% year-on-year), and net profit is expected to reach 12.0 billion yen (+140% year-on-year).

Business forecasts in this and the attached document are based on information available at the time these documents were released, and include a number of assumptions on various uncertain factors that could affect future business performance. Actual business results may vary considerably from the forecasts due to various factors unknown at this time.