In the first quarter, net sales were ¥31,856 million (-7.4% YoY), operating income was ¥964 million (-30.2% YoY), ordinary income was ¥892 million (-38.2% YoY) and profit attributable to owners of the parent was ¥436 million (-27.7% YoY).
VT Holdings’ mainstay operations are in the car sales-related business. From April, the new business of sales of BMW dealers in Shizuoka Prefecture contributed to this performance. However, the fuel testing data scandal prompted Nissan Motor to stop selling two of its light vehicle models, which led to a 9.9% YoY decrease in unit vehicle sales.
Car-related business net sales were ¥31,097 million (-7.1% YoY), and operating income was ¥1,193 million (-22.3% YoY).
In the housing-related business, the VT Holdings Group is developing its operations through a focus on high-end housing in collaboration with architects, and performance is robust. Earnings in this business are improving, although the segment recorded an operating loss in the first quarter due to seasonal factors.
Total assets amounted to ¥103,548 million, up ¥8,569 million, due to the transfer of business from Moto Lane Shizuoka Co., Ltd., including the consolidation of Wessex Garages Holdings Limited.
For this financial details about VT Holdings Co., Ltd. (TOKYO:7593),