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![Land for condominiums sales [Parent company]](../images/14.jpg)
This next slide shows a breakdown of our land for condominium sales. The bar chart on the left shows the book value of land for condominium sales on a non-consolidated basis for each separate year of acquisition. As of the end of September, the book value of land for condominiums stood at ¥75.6 billion. Of this total, ¥24.9 billion was acquired in fiscal 2006, the year when most acquisitions were made.
We adopted a cautious stance as competition to acquire land for condominiums began to overheat, but for the acquisitions made in fiscal 2006 and 2007 profitability has deteriorated following a review of sales prices. Accordingly, we plan to speed up the turnaround on these properties by proceeding with their early disposal, and then actively acquiring land in future in anticipation of a recovery in the condominium business.
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