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Next, the Property Management segment is explained.
For the second quarter of the fiscal year ending March 31, 2018, both revenue and profit increased due to increased property stocks of both condominiums and buildings under management, among others.
Revenue and profit for the fiscal year ending March 31, 2018 are both expected to increase due to increased revenue owing to the continued expansion in property stocks of both condominiums and buildings under management and, as explained above, the consolidation of the functions of the renovation business within the Group into Tokyu Re· design Corporation, which was newly established as a subsidiary of Tokyu Community from October.
The amount of influence as a result of the consolidation of the renovation business will be estimated sales of ¥7.8 billion from the renovation business in the Innovation Business segment for October 2017 to March 2018, which will be recorded under the Property Management segment.
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