2021年３月期 第１四半期
（June 30, 2020)
FACT SHEETS
Ⅰ． 第１四半期決算推移 Page ２－３
June 30, 2020
Ⅱ． （参考） 2020年３月期決算 Page ４－９
March 31, 2020
Ⅲ． 旧セグメントと新セグメントの比較情報 Page １０
Comparison of old and new segments
（別紙） 四半期営業情報
（Appendix） Quarterly Information
住友不動産株式会社
Sumitomo Realty & Development Co., Ltd.
（ご 照 会 先）
－REFERENCE－
Phone ０３－３３４６－２３４２
Facsimile ０３－５３２２－６７３２
http://www.sumitomo-rd.co.jp/ir/
2021年３月期 第１四半期 (Jun-20) 連結決算 (Consolidated base)
＊2020年3月期期首より、会計方針（住友不動産販売の収益認識基準）の変更をしております。2019年3月期第1四半期は遡及適用後の数値を記載しており
ます。
(Financial results for the first quarter of March 2019 fiscal year have been adjusted retroactively, reflecting the adoption of Accounting Standard for
Revenue Recognition in Sumitomo Real Estate Sales effective from the beginning of March 2020 fiscal year. )
＊2021年3月期期首よりセグメント変更を行い、「販売事業」、「流通事業」、「調整額（記載省略）」に計上していた住友不動産販売の業績は「流通事業」へ計
上しております。2020年3月期第１四半期は変更後の数値を記載しております。
(From the beginning of March 2021 fiscal year, the business segments for revenue and income from Sumitomo Real Estate Sales have been changed, from
the allocation to "Sales", "Brokerage" and "Adjustments (not presented in the document)", to be consolidated into "Brokerage". Financial results for the
first quarter of March 2020 fiscal year have been adjusted retroactively.)
[損益計算書] (Statements of operations)
2016/6 2017/6 2018/6 2019/6 2020/6
単位：百万円 (millions of yen) Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
売上高 Revenue from operations 266,577 270,930 308,747 334,356 315,959
売上総利益 Gross profit 70,081 81,191 93,520 102,853 100,440
粗利益率 Gross profit margin 26.3% 30.0% 30.3% 30.8% 31.8%
販管費 S,G&A expenses 16,679 18,005 21,765 21,457 17,677
営業利益 Operating income 53,401 63,186 71,755 81,395 82,762
営業利益率 Operating income margin 20.0% 23.3% 23.2% 24.3% 26.2%
受取利息・配当金 Interest & dividend income 3,491 4,428 5,302 6,107 6,602
その他 Others 175 1,465 344 72 264
営業外収益 Non-operating income 3,666 5,894 5,646 6,179 6,866
支払利息 Interest expenses 5,632 5,167 5,150 4,955 4,635
その他 Others 1,296 1,227 1,176 1,077 936
営業外費用 Non-operating expenses 6,928 6,395 6,327 6,033 5,572
(金融収支) (Net interest receive) (▲2,141) (▲739) (152) (1,152) (1,967)
経常利益 Ordinary profit 50,140 62,685 71,074 81,542 84,057
特別利益 Extraordinary income 36 - 0 0 12,225
特別損失 Extraordinary loss 1,046 138 482 1,084 509
税金等調整前四半期純利益
49,130 62,546 70,593 80,458 95,773
Income before income taxes
法人税等 Income tax and other taxes 15,391 18,948 21,631 24,627 30,285
非支配株主に帰属する四半期純利益
569 794 － － －
Profit attributable to non-controlling interests
親会社株主に帰属する四半期純利益
33,169 42,804 48,961 55,831 65,488
Profit attributable to owners of parent
[セグメント情報]（Segment Information）
（１）売上高 2016/6 2017/6 2018/6 2019/6 2020/6
Revenue from operations
単位：百万円 (millions of yen) Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
賃貸事業 Leasing 82,145 86,821 89,635 97,254 97,436
販売事業 Sales 133,758 133,739 168,572 185,858 171,854
完工事業 Housing Construction 35,101 32,983 32,102 32,379 31,475
流通事業 Brokerage 14,517 15,986 17,224 18,623 15,924
合計 Total 266,577 270,930 308,747 334,356 315,959
（２）営業利益 2016/6 2017/6 2018/6 2019/6 2020/6
Operating income
単位：百万円 (millions of yen) Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
賃貸事業 Leasing 32,636 38,148 38,183 41,765 40,023
販売事業 Sales 21,401 25,029 33,641 38,657 44,188
完工事業 Housing Construction 162 ▲373 ▲529 ▲127 ▲26
流通事業 Brokerage 3,371 4,619 5,072 4,578 3,413
合計 Total 53,401 63,186 71,755 81,395 82,762
2 / 10
[事業の概況] （Review of operations）
（１）賃貸事業部門 (Leasing) 2016/6 2017/6 2018/6 2019/6 2020/6
【連結ベース】 (Consolidated base)
Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
オフィス期末空室率* Vacancy rate* 4.6% 4.7% 4.7% 2.3% 1.5%
* 竣工後１年を経過した既存オフィスビルの空室率 (Vacancy rate for existing buildings)
（２）販売事業部門 (Sales) 2016/6 2017/6 2018/6 2019/6 2020/6
【連結ベース】 (Consolidated base)
単位：戸、百万円 (units、millions of yen) Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
マンション契約戸数 Condominium units sold 1,533 1,762 1,314 1,018 302
計上戸数 Units delivered 2,497 2,493 3,020 2,957 2,546
マンション・戸建 Condominiums & Detached houses 2,483 2,488 3,014 2,955 2,543
宅地 Land lots 14 5 6 2 3
売上高 Sales income 133,758 133,739 168,572 185,858 171,854
マンション・戸建 Condominiums & Detached houses 131,116 132,919 166,243 185,156 163,709
宅地・その他 Land lots & Others 2,642 819 2,328 702 8,144
（３）完工事業部門 (Housing Construction) 2016/6 2017/6 2018/6 2019/6 2020/6
【連結ベース】 (Consolidated base)
単位：戸、百万円 (units、millions of yen) Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
受注棟数 Units contracted 3,086 3,156 3,105 2,151 1,605
新築そっくりさん Remodeling "Shinchiku Sokkurisan" 2,472 2,454 2,397 1,713 1,241
注文住宅 Custom Home 614 702 708 438 364
計上棟数 Units delivered 1,964 1,845 1,836 1,822 1,550
新築そっくりさん Remodeling "Shinchiku Sokkurisan" 1,602 1,485 1,506 1,516 1,204
注文住宅 Custom Home 362 360 330 306 346
売上高 Revenue from housing business 35,101 32,983 32,102 32,379 31,475
新築そっくりさん Remodeling "Shinchiku Sokkurisan" 19,053 17,555 17,358 17,692 15,393
注文住宅 Custom Home 11,202 11,322 10,178 10,116 11,914
その他 Others 4,846 4,106 4,566 4,571 4,168
（４）流通事業部門 (Brokerage) 2016/6 2017/6 2018/6 2019/6 2020/6
【住友不動産販売】 (Sumitomo Real Estate Sales)
単位：件、百万円 (transactions、 millions of yen) Jun-16 Jun-17 Jun-18 Jun-19 Jun-20
仲介件数 Number of transactions 9,282 9,559 9,575 9,653 7,937
取扱高 Total transaction value 284,194 308,868 325,776 325,497 273,865
取扱単価 Average price per transaction 30.6 32.3 34.0 33.7 34.5
仲介収益 Brokerage revenues 13,726 15,483 16,930 17,200 14,485
仲介店舗数（国内） Number of brokerage offices (Japan) 257 260 268 270 272
[財務の状況] （Financial Indices） （参考）
2016/6 2017/6 2018/6 2019/6 2020/6 2020/3
前期末
単位：百万円 (millions of yen) Jun-16 Jun-17 Jun-18 Jun-19 Jun-20 Mar-20
総資産 Total assets 4,631,893 4,942,998 5,131,521 5,110,197 5,366,154 5,317,623
自己資本 Shareholders' equity 901,802 1,031,250 1,157,779 1,238,259 1,383,930 1,294,998
連結有利子負債 Ｉnterest-bearing debt 3,201,402 3,402,136 3,454,359 3,320,385 3,461,314 3,440,908
現金・預金 Cash, time and notice deposits 206,195 233,252 271,538 251,054 188,552 195,360
連結純有利子負債 Net interest-bearing debt 2,995,206 3,168,884 3,182,820 3,069,330 3,272,761 3,245,548
3 / 10
（参考）2020年３月期 (Mar-20) 連結決算 (Consolidated base)
*2020年3月期期首より、会計方針（住友不動産販売の収益認識基準）の変更をしております。2019年3月期は遡及適用後の数値を記載しております。
(Financial results for March 2019 fiscal year have been adjusted retroactively, reflecting the adoption of Accounting Standard for Revenue Recognition in Sumitomo
Real Estate Sales effective from the beginning of March 2020 fiscal year.)
[損益計算書] (Statements of operations) 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
通期予想
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
売上高 Revenue from operations 854,964 925,151 948,402 1,012,198 1,013,512 880,000
売上総利益 Gross profit 240,773 260,967 284,386 301,148 321,680 289,000
粗利益率 Gross profit margin 28.2% 28.2% 30.0% 29.8% 31.7% 32.8%
広告費 Selling expenses 17,912 19,214 20,993 21,250 18,514 15,000
一般管理費 G & A expenses 48,620 53,582 57,755 60,508 68,833 70,000
販管費 S,G&A expenses 66,532 72,796 78,749 81,758 87,348 85,000
営業利益 Operating income 174,240 188,171 205,637 219,389 234,332 204,000
営業利益率 Operating income margin 20.4% 20.3% 21.7% 21.7% 23.1% 23.2%
受取利息・配当金 Interest & dividend income 5,574 6,707 8,484 10,066 11,679
その他 Others 739 768 1,073 630 570
営業外収益 Non-operating income 6,313 7,475 9,557 10,697 12,249 11,000
支払利息 Interest expenses 24,489 21,588 20,351 20,184 19,186
その他 Others 7,640 6,361 7,972 6,675 6,874
営業外費用 Non-operating expenses 32,129 27,949 28,323 26,859 26,061 25,000
(金融収支) (Net interest receive) (▲18,915) (▲14,881) (▲11,867) (▲10,118) (▲7,507)
経常利益 Ordinary profit 148,424 167,697 186,870 203,227 220,520 190,000
固定資産売却益 Gain on sale of fixed assets 114 15 37 75 278
Gain on sale of
投資有価証券売却益 investments in securities
428 42 1,009 11 1,417
その他 Others 3 66 4,824
特別利益 Extraordinary income 546 58 1,113 86 6,519
固定資産売却損 Loss on sale of fixed assets 3 217 3,723 2,130
Loss on impairment of
固定資産減損損失 fixed assets
10,806 15,537 10,634 8,575 9,660
Loss on disposal of
固定資産除却損 fixed assets
1,145 1,522 600 1,280 1,566
Loss on devaluation of
投資有価証券評価損 investments in securities
465 1,104 7,838
Loss on sale of
投資有価証券売却損 investments in securities
47
その他 Others 999 68 40 70 35
特別損失 Extraordinary loss 13,416 17,131 11,540 14,755 21,231
税金等調整前当期利益
135,553 150,623 176,444 188,558 205,809
Income before income taxes
法人税等 Income tax and other taxes 44,729 43,628 55,918 58,456 64,812
非支配株主に帰属する当期純利益
3,026 3,506 794
Profit attributable to non-controlling interests
親会社株主に帰属する当期純利益
87,797 103,488 119,731 130,102 140,997 130,000
Profit attributable to owners of parent
減価償却費 Depreciation 34,574 39,445 41,627 46,312 48,974 55,000
4 / 10
[セグメント情報] （Segment Information）
＊2021年3月期期首よりセグメント変更を行い、「販売事業」、「流通事業」、「調整額（記載省略）」に計上していた住友不動産販売の業績は「流通事業」へ計
上しております。2020年3月期、2021年3月期通期予想は変更後の数値を記載しております。
(From the beginning of March 2021 fiscal year, the business segments for revenue and income from Sumitomo Real Estate Sales have been changed, from
the allocation to "Sales", "Brokerage" and "Adjustments (not presented in the document)", to be consolidated into "Brokerage". Financial results for
March 2020 fiscal year and financial forecasts for March 2021 fiscal year have been adjusted retroactively.)
（１）売上高 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
Revenue from operations 通期予想
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
賃貸事業 Leasing 313,340 337,465 353,880 381,763 395,592 390,000
販売事業 Sales 274,760 314,299 311,192 331,751 324,928 270,000
完工事業 Housing Construction 199,115 203,623 209,355 221,693 218,930 170,000
流通事業 Brokerage 61,496 66,714 69,168 71,867 71,199 50,000
合計 Total 854,964 925,151 948,402 1,012,198 1,013,512 880,000
（２）営業利益 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
Operating income 通期予想
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
賃貸事業 Leasing 111,327 126,213 139,368 149,932 169,416 163,000
販売事業 Sales 44,187 46,189 46,838 47,115 46,490 47,000
完工事業 Housing Construction 15,300 13,933 16,108 20,407 20,583 10,000
流通事業 Brokerage 17,722 19,147 21,457 20,977 14,592 5,000
合計 Total 174,240 188,171 205,637 219,389 234,332 204,000
（３）営業利益率 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
Operating income margin 通期予想
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
賃貸事業 Leasing 35.5% 37.4% 39.4% 39.3% 42.8% 41.8%
販売事業 Sales 16.1% 14.7% 15.1% 14.2% 14.3% 17.4%
完工事業 Housing Construction 7.7% 6.8% 7.7% 9.2% 9.4% 5.9%
流通事業 Brokerage 28.8% 28.7% 31.0% 29.2% 20.5% 10.0%
合計 Total 20.4% 20.3% 21.7% 21.7% 23.1% 23.2%
（４）資産 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
Assets of segment 通期予想
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
賃貸事業 Leasing 3,194,739 3,359,261 3,565,087 3,737,136 3,922,318
販売事業 Sales 888,578 890,868 826,574 713,300 673,420
完工事業 Housing Construction 18,166 27,424 27,945 30,057 25,053
流通事業 Brokerage 19,135 18,506 12,199 14,074 61,453
合計 Total 4,675,914 4,980,039 5,167,198 5,130,118 5,317,623
（５）従業員数 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
Number of employees 通期予想
Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
賃貸事業 Leasing 3,312 3,466 3,666 3,771 4,059
販売事業 Sales 1,065 1,096 944 894 852
完工事業 Housing Construction 3,609 3,800 3,920 4,050 4,137
流通事業 Brokerage 3,037 3,106 3,258 3,329 3,633
合計 Total 12,116 12,574 12,934 13,238 13,676
5 / 10
[事業の概況]（Review of operations）
（１）賃貸事業部門 (Leasing) 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
【連 結ベース】 (Consolidated base) 通期予想
単位：千㎡ (1,000㎡) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
期末延床面積 Gross floor area 4,395 4,610 4,843 5,037 5,461
所有 Outright ownership 3,493 3,790 4,026 4,226 4,633
サブリース事業 Sub-lease business 902 820 817 811 828
東京都区部 Tokyo 23wards 4,155 4,370 4,591 4,738 5,169
その他 Other Area 240 240 252 299 292
オフィス期末空室率* Vacancy rate * 4.7% 4.5% 4.9% 2.8% 1.4%
* 竣工後１年を経過した既存オフィスビルの空室率 (Vacancy rate for existing buildings)
（２）販売事業部門 (Sales) 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
【連 結ベース】 (Consolidated base) 通期予想
単位：戸、百万円 (units、millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
マンション新規発売戸数 Condominium units supplied 5,073 6,722 6,686 6,384 4,969 4,000
マンション契約戸数 Condominium units sold 5,524 6,467 7,355 5,111 4,865 4,000
マンション完成済み未契約戸数 Condominium units unsold 1,324 1,191 1,129 1,044 1,466
計上戸数 Units delivered 4,996 5,716 5,881 5,970 5,431 4,500
マンション・戸建 Condominiums & Detached houses 4,898 5,632 5,865 5,948 5,413
宅地 Land lots 98 84 16 22 18
売上高 Sales income 274,760 314,299 311,192 331,751 324,967 270,000
マンション・戸建 Condominiums & Detached houses 263,014 300,655 301,504 323,297 314,429
宅地・その他 Land lots & Others 11,746 13,643 9,688 8,454 10,537
（３）完工事業部門 (Housing Construction) 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
【連 結ベース】 (Consolidated base) 通期予想
単位：棟、百万円 (units、millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
受注棟数 Units contracted 11,336 11,531 12,340 13,526 9,666 7,700
新築そっくりさん Remodeling "Shinchiku Sokkurisan" 8,454 8,770 9,350 10,449 7,506 6,000
注文住宅 Custom Home 2,882 2,761 2,990 3,077 2,160 1,700
計上棟数 Units delivered 10,729 11,222 11,686 12,013 11,927 9,100
新築そっくりさん Remodeling "Shinchiku Sokkurisan" 8,150 8,455 8,886 9,132 9,301 7,000
注文住宅 Custom Home 2,579 2,767 2,800 2,881 2,626 2,100
売上高 Revenue from housing business 199,115 203,623 209,355 221,693 218,930 170,000
新築そっくりさん Remodeling "Shinchiku Sokkurisan" 105,296 103,721 108,739 116,195 119,801 90,000
注文住宅 Custom Home 77,926 85,657 88,019 93,458 86,783 70,000
その他 Others 15,893 14,245 12,597 12,040 12,346 10,000
（４）流通事業部門 (Brokerage) 2016/3 2017/3 2018/3 2019/3 2020/3 2021/3
【住友不動産販売】 (Sumitomo Real Estate Sales) 通期予想
単位：件、百万円 (transactions、 millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 (F)
仲介件数 Number of transactions 35,987 36,108 37,058 37,643 37,715 27,000
取扱高 Total transaction value 1,065,654 1,193,044 1,257,507 1,326,357 1,287,508 920,000
取扱単価 Average price per transaction 29.6 33.0 33.9 35.2 34.1 34.1
仲介収益 Brokerage revenues 56,303 61,216 66,310 68,583 67,063 48,000
仲介店舗数 （国内） Number of brokerage offices (Japan) 257 260 266 270 276
6 / 10
[連結キャッシュ・フロー計算書] （Consolidated Statements of Cash Flows）
2016/3 2017/3 2018/3 2019/3 2020/3
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
税金等調整前当期純利益 Income before income taxes 135,553 150,623 176,444 188,558 205,809
減価償却費 Depreciation and amortization 34,574 39,445 41,627 46,312 48,974
貸倒引当金の増加額又は減少額（△） Provision for allowance for △2,095 411 △525 △308 △4,848
doubtful accounts -- net
固定資産売却損益（△は益） Loss (Gain) on sale of property △114 △11 179 3,648 1,852
and equipment
固定資産減損損失 Loss on impairment of 10,806 15,537 10,634 8,575 9,660
fixed assets
売上債権の増加額（△）又は減少額 Decrease (Increase) in notes and 7,441 1,089 △5,668 2,233 4,636
accounts receivable -- trade
たな卸資産の増加額（△）又は減少額 Decrease (Increase) in inventories △51,301 5,573 25,915 65,981 46,766
仕入債務の増加額又は減少額（△） Increase (Decrease) in notes △12,363 △12,936 △12,535 26,188 △18,542
and accounts payable -- trade
前受金の増加額又は減少額（△） Increase (Decrease) 10,981 7,816 17,076 △12,072 △415
in advances received
法人税等の支払額 Payments for income tax △46,985 △55,545 △56,252 △69,426 △65,218
and other taxes
その他 Other -- net 9,610 6,503 △6,963 367 1,783
営業活動によるキャッシュ・フロー
Net cash provided by operating activities
96,107 158,507 189,933 260,057 230,458
Payments for purchases of
有形固定資産の取得による支出 property and equipment △91,296 △254,930 △220,016 △188,573 △270,347
有形固定資産の売却による収入 Proceeds from sale of property 403 124 357 6,617 11,307
and equipment
有価証券／投資有価証券の純増減 Decrease (Increase) in securities △16,279 △19,391 △26,637 △30,946 △44,019
敷金及び保証金の純増減 Decrease (Increase) in guarantee 3,284 6,640 27,144 3,737 △316
and lease deposits paid to lessors
預り敷金及び保証金の純増減 Increase (Decrease) in guarantee 13,646 11,714 13,994 21,340 18,575
and lease deposits received
共同投資事業出資預託金の純増減 Receipts (Restitution) of deposits △24,114 △10,869 △9,124 △9,438 △22,185
from partnership investors
その他 Other -- net 8,971 △7,450 △6,252 △11,948 16,866
投資活動によるキャッシュ・フロー
△105,384 △274,161 △220,534 △209,212 △290,118
Net cash used in investing activities
Increase (Decrease) in
短期借入金・ＣＰの純増減 short-term bank loans & CP
△8,282 △12,610 △2,892 △35,773 121,083
社債の純増減 Increase (Decrease) in △20,000 - △50,000 △60,000 △40,000
bonds and notes
長期借入金の純増減 Increase (Decrease) in 185,337 223,463 166,378 △27,451 23,681
long-term debt
ＳＰＣ借入金・社債の純増減 Increase (Decrease) in △25,182 720 △8,648 △7,501 △6,643
non-recourse loans and bonds
配当金の支払額 Cash dividends paid △10,429 △10,428 △12,324 △13,268 △15,162
その他 Other -- net △76,463 △3,147 △66,052 △2,064 △313
財務活動によるキャッシュ・フロー
44,980 197,996 26,461 △146,058 82,644
Net cash provided by (used in) financing activities
現金及び現金同等物の増加額又は減少額
35,830 81,954 △4,263 △94,969 22,740
Net increase (decrease) in cash and cash equivalents
現金及び現金同等物の期首残高
150,264 185,989 267,943 262,045 170,707
Cash and cash equivalents at beginning of year
現金及び現金同等物の期末残高
185,989 267,943 262,045 170,707 193,448
Cash and cash equivalents at end of year
7 / 10
[財務の状況] （Financial Indices）
（１）総資産、自己資本 2016/3 2017/3 2018/3 2019/3 2020/3
Total assets & Equity
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
総資産 Total assets 4,675,914 4,980,039 5,167,198 5,130,118 5,317,623
ＲＯＡ*1 Return On Assets *1 3.9% 4.0% 4.2% 4.5% 4.7%
自己資本 Shareholders' equity 888,099 1,007,347 1,114,975 1,202,103 1,294,998
自己資本比率 Equity ratio 19.0% 20.2% 21.6% 23.4% 24.4%
ＲＯＥ*2 Return On Equity *2 10.2% 10.9% 11.3% 11.2% 11.3%
*1 （営業利益＋受取利息・配当金）÷総資産（期首期末平均） (Operating income + Interest & Dividend income/Total assets)
*2 当期利益÷自己資本（期首期末平均） （Net income/Shareholders' equity)
（２）連結有利子負債 2016/3 2017/3 2018/3 2019/3 2020/3
Interest-bearing debt
単位：百万円、倍 (millions of yen, times) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
ＣＰ Commercial Paper - - - - 120,000
短期借入 Short-term loans 78,718 66,108 61,416 25,643 26,726
長期借入 Long-term loans 2,241,556 2,465,019 2,631,397 2,603,945 2,703,627
社債 Bonds; Debentures 420,000 420,000 370,000 310,000 270,000
劣後ローン Subordinated loan - - - - -
SPC長期借入金・社債 Non-recourse loans and bonds 418,627 419,347 410,699 403,198 320,555
連結有利子負債 Interest-bearing debt 3,158,901 3,370,474 3,473,512 3,342,786 3,440,908
長期比率 Ratio of long-term debt 98% 98% 98% 99% 96%
固定金利比率 Ratio of fixed-interest debt 94% 95% 94% 96% 95%
現金・預金 Cash, time and notice deposits 187,233 269,312 263,209 172,191 195,360
連結純有利子負債 Net interest-bearing debt 2,971,668 3,101,162 3,210,303 3,170,595 3,245,548
デットエクイティレシオ*3 Net D/E Ratio *3 3.3 3.1 2.9 2.6 2.5
インタレストカバレッジレシオ*4 Interest Coverage Ratio *4 7.3 9.0 10.5 11.4 12.8
純有利子負債／営業利益倍率*5
Net Debt/Operating Income Ratio *5
16.5 15.9 15.0 13.8 13.2
*3 連結純有利子負債÷連結自己資本 (Net Interest-bearing debt/Shareholders' equity)
*4 （営業利益＋受取利息・配当金）÷支払利息 （Operating income + Interest & Dividend income/Interest expenses)
*5 連結純有利子負債÷（営業利益＋受取利息・配当金） （Net Interest-bearing debt/Operating income + Interest & Dividend income）
（３）賃貸セグメント資産総利回り 2016/3 2017/3 2018/3 2019/3 2020/3
Return on leasing assets
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
Operating income of
賃貸営業利益 leasing busｉness
111,327 126,213 139,368 149,932 169,416
減価償却費 Depreciation 32,098 36,948 38,981 43,200 45,420
賃貸キャッシュフロー Cash flows from leasing business 143,425 163,161 178,349 193,132 214,836
賃貸セグメント資産 Assets of leasing segment 3,194,739 3,359,261 3,565,087 3,737,136 3,922,318
預り敷金及び保証金 Guarantee & security deposits ▲ 181,497 ▲ 193,110 ▲ 207,823 ▲ 228,958 ▲ 247,609
received from tenants
賃貸投資残 Net investments of leasing busｉness 3,013,242 3,166,151 3,357,264 3,508,178 3,674,709
賃貸ｾｸﾞﾒﾝﾄ資産総利回り*6 Return on leasing assets *6 4.8% 5.3% 5.5% 5.6% 6.0%
*6 賃貸キャッシュフロー÷賃貸投資残（期首期末平均） （Cash flows from leasing business/Net assets of leasing business)
8 / 10
2020年３月期 (Mar-20) 単体推移 (Non-consolidated base)
[損益計算書](Statements of operations) 2016/3 2017/3 2018/3 2019/3 2020/3
単位：百万円 (millions of yen) Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
賃貸事業 Leasing 270,440 289,987 304,010 335,677 356,138
販売事業 Sales 266,469 305,092 311,127 331,748 324,928
完成工事事業 Housing Construction 183,002 187,949 195,806 208,704 206,057
その他事業 Others 3,172 3,161 3,248 3,023 666
売上高 Revenue from operations 723,085 786,191 814,192 879,154 887,791
賃貸事業 Leasing 91,313 108,888 121,388 132,864 162,047
販売事業 Sales 56,566 58,246 64,654 65,466 63,732
完成工事事業 Housing Construction 44,761 46,276 50,173 55,989 56,742
その他事業 Others 3,153 3,146 3,233 3,009 649
売上総利益 Gross profit 195,794 216,558 239,449 257,329 283,172
賃貸事業 Leasing 33.8% 37.5% 39.9% 39.6% 45.5%
販売事業 Sales 21.2% 19.1% 20.8% 19.7% 19.6%
完成工事事業 Housing Construction 24.5% 24.6% 25.6% 26.8% 27.5%
その他事業 Others 99.4% 99.5% 99.5% 99.5% 97.4%
粗利益率 Gross profit margin 27.1% 27.5% 29.4% 29.3% 31.9%
販売費 Selling expenses 19,198 21,064 23,387 23,936 21,627
一般管理費 G & A expenses 36,628 40,278 45,355 47,566 51,088
販管費 S,G&A expenses 55,827 61,343 68,743 71,503 72,716
営業利益 Operating income 139,967 155,214 170,705 185,826 210,455
受取利息・配当金 Interest & dividend income 8,506 9,897 9,873 11,761 22,241
その他 Others 1,101 1,108 1,376 888 1,154
営業外収益 Non-operating income 9,607 11,006 11,250 12,650 23,395
支払利息 Interest expenses 19,104 17,808 17,496 17,597 16,958
その他 Others 6,813 4,680 6,608 7,792 5,984
営業外費用 Non-operating expenses 25,917 22,488 24,105 25,390 22,942
(金融収支) (Net interest receive) (▲10,598) (▲7,911) (▲7,623) (▲5,836) (5,283)
経常利益 Ordinary profit 123,657 143,732 157,851 173,087 210,908
固定資産売却益 Gain on sales of fixed assets 88 37 75 277
Gain on sale of
投資有価証券売却益 investments in securities
350 42 1,009 11 1,417
その他 Others 3 618
特別利益 Extraordinary income 441 42 1,047 86 2,313
固定資産売却損 Loss on sale of fixed assets 0 216 0 2,130
固定資産減損損失 Loss on impairment of fixed assets 10,806 15,537 216
固定資産除却損 Loss on disposal of fixed assets 1,054 1,316 632 1,054 1,287
Loss on devaluation of
投資有価証券評価損 investments in securities
465 1,078 7,838
Loss on sale of
投資有価証券売却損 investments in securities 47
その他 Others 171 94 33 28 34
特別損失 Extraordinary loss 12,497 16,949 1,146 2,162 11,290
税引前当期利益 Income before income taxes 111,601 126,826 157,752 171,011 201,931
法人税等 Income tax and other taxes 35,773 35,736 47,566 50,553 55,232
当期利益 Profit 75,827 91,089 110,186 120,458 146,699
減価償却費 Depreciation 24,839 30,037 32,302 35,282 38,253
9 / 10
旧セグメントと新セグメントの比較情報（Comparison of old and new segments）
＊2021年3月期期首よりセグメント変更を行い、「販売事業」、「流通事業」、「調整額（記載省略）」に計上していた住友不動産販売の業績は「流通事業」へ計上して
おります。
(From the beginning of March 2021 fiscal year, the business segments for revenue and income from Sumitomo Real Estate Sales have been changed, from the
allocation to "Sales", "Brokerage" and "Adjustments (not presented in the document)", to be consolidated into "Brokerage". )
2021年３月期 第１四半期 (Jun-20) 連結決算 (Consolidated base)
旧セグメント 新セグメント
Old segment New segment
（１）売上高 2019/6 2019/6 2020/6
Revenue from operations
単位：百万円 (millions of yen) Jun-19 Jun-19 Jun-20
賃貸事業 Leasing 97,254 97,254 97,436
販売事業 Sales 185,858 185,858 171,854
完工事業 Housing Construction 32,379 32,379 31,475
流通事業 Brokerage 17,625 18,623 15,924
合計 Total 334,356 334,356 315,959
旧セグメント 新セグメント
Old segment New segment
（２）営業利益 2019/6 2019/6 2020/6
Operating income
単位：百万円 (millions of yen) Jun-19 Jun-19 Jun-20
賃貸事業 Leasing 41,765 41,765 40,023
販売事業 Sales 39,317 38,657 44,188
完工事業 Housing Construction ▲127 ▲127 ▲26
流通事業 Brokerage 5,277 4,578 3,413
合計 Total 81,395 81,395 82,762
2020年３月期 (Mar-20)実績 ・ 2021年３月期 (Mar-21)予想 連結決算 (Consolidated base)
（１）売上高 旧セグメント 新セグメント
Revenue from operations Old segment New segment
2020/3 2021/3 2020/3 2021/3
通期予想 通期予想
単位：百万円 (millions of yen) Mar-20 Mar-21（F） Mar-20 Mar-21（F）
賃貸事業 Leasing 395,592 390,000 395,592 390,000
販売事業 Sales 324,967 270,000 324,928 270,000
完工事業 Housing Construction 218,930 170,000 218,930 170,000
流通事業 Brokerage 69,331 50,000 71,199 50,000
合計 Total 1,013,512 880,000 1,013,512 880,000
（２）営業利益 旧セグメント 新セグメント
Operating income Old segment New segment
2020/3 2021/3 2020/3 2021/3
通期予想 通期予想
単位：百万円 (millions of yen) Mar-20 Mar-21（F） Mar-20 Mar-21（F）
賃貸事業 Leasing 169,416 163,000 169,416 163,000
販売事業 Sales 47,374 48,000 46,490 47,000
完工事業 Housing Construction 20,583 10,000 20,583 10,000
流通事業 Brokerage 19,336 10,000 14,592 5,000
合計 Total 234,332 204,000 234,332 204,000
10 / 10
四半期営業情報 （別紙）
Quarterly Information （Appendix）
既存ビル マンション契約戸数 注文住宅受注棟数 そっくりさん受注棟数
期末空室率 Condominium Custom Home Remodeling
Vacancy Units Sold Units Contracted "Shinchiku Sokkurisan"
Rate Units Contracted
(Office) 前年同期比 前年同期比 前年同期比
YoY YoY YoY
2015/3 1st 5.7% 1,351 -5.0% 488 -17.7% 1,659 -30.0%
Mar-15 2nd 5.4% 1,175 -30.2% 600 -24.3% 2,023 -24.8%
3rd 5.2% 1,184 9.0% 548 26.9% 1,829 41.9%
4th 4.9% 1,494 3.5% 819 33.8% 1,799 41.2%
Year-end 4.9% 5,204 -7.6% 2,455 1.0% 7,310 -4.1%
2016/3 1st 4.8% 1,438 6.4% 666 36.5% 2,393 44.2%
Mar-16 2nd 4.8% 1,401 19.2% 743 23.8% 2,152 6.4%
3rd 4.7% 1,248 5.4% 669 22.1% 2,036 11.3%
4th 4.7% 1,437 -3.8% 804 -1.8% 1,873 4.1%
Year-end 4.7% 5,524 6.1% 2,882 17.4% 8,454 15.6%
2017/3 1st 4.6% 1,533 6.6% 614 -7.8% 2,472 3.3%
Mar-17 2nd 4.4% 1,708 21.9% 736 -0.9% 2,089 -2.9%
3rd 4.4% 1,552 24.4% 570 -14.8% 2,180 7.1%
4th 4.5% 1,674 16.5% 841 4.6% 2,029 8.3%
Year-end 4.5% 6,467 17.1% 2,761 -4.2% 8,770 3.7%
2018/3 1st 4.7% 1,762 14.9% 702 14.3% 2,454 -0.7%
Mar-18 2nd 4.6% 2,463 44.2% 791 7.5% 2,379 13.9%
3rd 4.4% 1,546 -0.4% 632 10.9% 2,237 2.6%
4th 4.9% 1,584 -5.4% 865 2.9% 2,280 12.4%
Year-end 4.9% 7,355 13.7% 2,990 8.3% 9,350 6.6%
2019/3 1st 4.7% 1,314 -25.4% 708 0.9% 2,397 -2.3%
Mar-19 2nd 4.3% 1,347 -45.3% 889 12.4% 2,544 6.9%
3rd 4.2% 1,103 -28.7% 666 5.4% 2,570 14.9%
4th 2.8% 1,347 -15.0% 814 -5.9% 2,938 28.9%
Year-end 2.8% 5,111 -30.5% 3,077 2.9% 10,449 11.8%
2020/3 1st 2.3% 1,018 -22.5% 438 -38.1% 1,713 -28.5%
Mar-20 2nd 1.7% 1,390 3.2% 677 -23.8% 2,017 -20.7%
3rd 1.6% 1,353 22.7% 385 -42.2% 2,056 -20.0%
4th 1.4% 1,104 -18.0% 660 -18.9% 1,720 -41.5%
Year-end 1.4% 4,865 -4.8% 2,160 -29.8% 7,506 -28.2%
2021/3 1st 1.5% 302 -70.3% 364 -16.9% 1,241 -27.6%
住友不動産株式会社
Sumitomo Realty Development Co., Ltd.