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![Outline of condominium plan [Parent company]](../images/14.jpg)
Next, I will outline our plan for condominiums for sale. We plan to sell 2,392 units and record revenues of ¥99.5 billion for the fiscal year ending March 2013 (on a non-consolidated basis). The plan includes sales from block-sale residential properties for lease of 239 units for ¥4.7 billion and, if excluding block-sale properties for lease, the number of units to be sold is expected to increase 173 units year on year, to 2,153 units.
The contract ratio to sales plan, except for block-sale properties for lease, remained solid at 81%, as sales of condominiums remained strong. The inventory of completed units was 243 units at the end of September 2012, remaining low. As projects that were acquired before the collapse of Lehman Brothers and will not contribute to earnings have run their courses, we expect the gross margin on the condominiums to be around 20%, improving further from the fiscal year ended March 2012. We acquired land for 963 units for ¥12.1 billion in the first six months of the fiscal year ending March 2013, based on our policy of acquiring properties that are expected to generate a reasonable profit margin.
As a result, we have acquired land for approximately 5,400 units (pipelines) to be delivered in or after the fiscal year ending March 2014. |
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