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Finally, I will give a presentation on the other segments.
Contracted Construction recorded sales of ¥25 billion, down ¥2.4 billion year over year, and an operating loss of ¥2 billion, a ¥0.3 billion improvement compared to the same period last year. We plan to further reduce our losses by proceeding with restructuring of our subsidiaries and other cost cutting measures over the course of the year.
For the Retail Sales, sales declined by ¥4.5 billion, to ¥39.6 billion, while operating income declined by ¥0.5 billion, to a loss of ¥0.4 billion. Tokyu Hands ,Inc. was affected by the slowdown in consumption due to the economic downturn, and the 9.8% decline in existing outlets revenue significantly exceeded expectations. We intend to restore profitability through cost cutting and other measures taken throughout the year.
For the Property Management, sales were up ¥0.6 billion year-on-year, to ¥37.1 billion, and operating income also increased, rising ¥0.1 billion to ¥1.9 billion. Even though the market for condominiums is expected to contract substantially, we expect to increase revenue over the course of the year, for instance by expanding our stock of managed condominiums and increasing the number of units managed under Designated Manager Systems for public housing.
For Real Estate Agents and Other Businesses, sales were ¥19.1 billion, down ¥2.5 billion year on year, while at the operating level an operating loss of ¥0.8 billion was recorded, a ¥0.2 billion improvement compared to the previous year. Although the real estate market remains stagnant, it is gradually moving towards recovery in terms of actual demand, with positive indicators such as increasing numbers of transactions. Over the full year we intend to improve on our initial plans.
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