TOKYO, March 2, 2017 /PRNewswire/ -- VT Holdings (TOKYO: 7593) is pleased to announce its results for the nine months ended December 31, 2016.
Summary of Results
During the nine months ended December 31, 2016, VT Holdings recorded consolidated net sales of JPY113,980 million (up 8.9% YoY), operating income of JPY4,162 million (down 12.1% YoY), ordinary income of JPY4,349 million (down 8.1% YoY) and profit attributable to owners of parent of JPY2,263 million (down 4.8% YoY).
In the automotive business, the Company's sales amounted to JPY110,651 million (up 10.0% YoY), with operating income of JPY4,438 million (down 10.4% YoY).
Within the automotive business, in the new car segment sales of Honda cars totaled 3,823 units (down 5.8%) and sales of Nissan cars were 8,721 units (down 10.5% YoY). Overall sales of new cars for the Group as a whole, including overseas sales, amounted to 22,003 units (up 14.9% YoY), due to the addition of a new consolidated subsidiary.
In the automotive business's used car segment, overseas exports totaled 4,428 units (down 19.2%), but Group's overall total was 34,465 units (up 3.3% YoY), due to the addition of a new consolidated subsidiary.
Sales and income both increased in the automotive business's service and rent-a-car segments.
In the housing-related business, orders for completed condominiums were favorable in the first nine months, but deliveries tended to concentrate on the fourth quarter, and performance in the condominium sector was flat year on year. In the current fiscal year, store and other construction accounted for a high percentage of Group companies' sales, offsetting sluggish parent-company performance and leading to higher transaction volumes on a consolidated basis. As a result, although this business delivered sales of JPY3,222 million (down 18.6% YoY), operating income was JPY85 million (up 90.0% YoY).
Due to the addition of new consolidated subsidiaries in Japan and overseas, total assets as of December 31, 2016, were JPY115,182 million, up JPY20,203 million from March 31, 2016.
VT Holdings Co., Ltd. (7593, First Section, TSE) "Summary of Consolidated Financial Results for the Nine Months Ended December 31, 2016" is available here:
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SOURCE VT Holdings Co., Ltd.