Since April 2022, the Company has been operating under the “Ninth Management Plan.”
In the second year of the plan, the performance for the six months ended September 30, 2023, was led by the office building leasing and condominium sales businesses, which achieved record-high profits. In addition, the construction business including Shinchiku Sokkurisan remodeling and custom homes, as well as the brokerage business with existing condominiums, also performed steadily. As a result, all four major segments achieved an increase in operating income. Operating income, ordinary profit, and profit all reached record highs for an interim period, and the progress rate has reached 60% of the full-year earnings forecast, making steady progress toward achieving a record high ordinary profit for the third consecutive year, as well as a record high profit for the 11th consecutive year, which were set as targets at the beginning of the fiscal year.
Reflecting this performance, the dividend for the interim period ended September 2023 was 29 yen per share (an increase of 5 yen compared to the previous fiscal year) as planned, and the year-end dividend is planned to be 30 yen per share (an increase of 2 yen compared to the previous fiscal year), resulting in the annual dividend of 59 yen per share for the fiscal year ending March 31, 2024, maintaining an “Annual dividend increase of 7 yen.”
In May 2023, we announced that we aim to surpass ¥300.0 billion in ordinary profit in the next medium-term management plan, earlier than the medium- to long-term outlook forecast originally set out. In October, aiming for further growth beyond that, we acquired our third large-scale development site in the heart of Mumbai, India's largest economic city. Over the next 10 years, we will advance this super high-rise mixed-use development project with a site area of approximately 80,000 square meters and a gross floor area of over one million square meters. In addition to expanding investments in the Tokyo office market, which has maintained stable growth even amidst the COVID-19 pandemic, we aim to build a major base second to Tokyo in Mumbai, India, with remarkable development and significant future growth potential.
As such, we will continue our investments for growth, aiming for sustainable enhancement of corporate value with the collective efforts of the Sumitomo Realty Group.