Consolidated Balance Sheets

(Thousand yen)
  FY2014 FY2015 FY2016
Assets
Current assets
Cash and deposits 4,221,423 7,106,471 8,825,885
Accounts receivable - trade 7,266 22,863 21,468
Real estate for sale 21,194,067 33,046,378 45,354,211
Real estate for sale in process 29,957 57,864 77,690
Deferred tax assets 168,160 294,629 339,850
Other 795,689 774,633 556,393
Allowance for doubtful accounts (3,079) (9,352) (8,055)
Total current assets 26,413,485 41,293,488 55,167,445
Non-current assets
Property, plant and equipment
Buildings 618,778 884,238 1,282,299
Accumulated depreciation (200,984) (220,617) (260,517)
Buildings, net 417,794 663,621 1,021,782
Land 450,719 960,434 1,413,516
Other 138,879 116,148 134,162
Accumulated depreciation (59,766) (66,024) (68,737)
Other, net 79,113 50,123 65,424
Total property, plant and equipment 947,628 1,674,179 2,500,723
Intangible assets
Leasehold right 55,637 55,637 55,637
Other 7,783 62,196 83,058
Total intangible assets 63,420 117,833 138,695
Investments and other assets
Deferred tax assets 46,574 106,302 230,372
Other 105,197 99,752 91,432
Total investments and other assets 151,772 206,054 321,805
Total non-current assets 1,162,820 1,998,068 2,961,223
Deferred assets
Bond issuance cost 16,687
Total deferred assets 16,687
Total assets 27,576,305 43,291,556 58,145,356
Liabilities
Current liabilities
Accounts payable - trade 503,831 721,108 621,824
Short-term loans payable 4,719,432 4,042,142 3,927,200
Current portion of bonds 180,000
Current portion of long-term loans payable 2,864,275 2,574,573 3,472,013
Income taxes payable 974,308 1,832,086 988,068
Provision for bonuses 47,648 63,827 45,590
Construction warranty reserve 24,188 34,845 56,836
Other 378,833 481,650 1,671,147
Total current liabilities 9,512,518 9,750,234 10,962,679
Non-current liabilities
Bonds payable 720,000
Long-term loans payable 9,769,212 21,899,246 30,021,520
Provision for directors' retirement benefits 179,292
Net defined benefit liability 46,002 56,844 69,264
Other 304,077 571,268 814,858
Total non-current liabilities 10,298,584 22,527,358 31,625,643
Total liabilities 19,811,102 32,277,593 42,588,322
Net assets
Shareholders' equity
Capital stock 1,584,340 1,586,930 2,549,609
Capital surplus 1,507,340 1,509,930 2,472,609
Retained earnings 4,673,523 7,869,151 10,442,741
Total shareholders' equity 7,765,203 10,966,011 15,464,961
Subscription rights to shares 47,952 92,072
Total net assets 7,765,203 11,013,963 15,557,033
Total liabilities and net assets 27,576,305 43,291,556 58,145,356
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