|
|
 |
|
 |
|
 |
|
Let me now provide you with a briefing on the Real Estate Sales segment.
In the fiscal year ended March 31, 2010, operating revenue in this segment dropped ¥38.2 billion from the previous year , to ¥118.8 billion, while operating loss stood at ¥14.6 billion; a ¥18.6 billion decrease in income from the previous year .
In the fiscal year ended March 31, 2010, operating revenue declined year on year because of the decrease in the number of condominium units sold. For operating income, gross margins dropped sharply, and with the posting of a ¥12.4 billion valuation loss induced by the review of sales prices, income also declined sharply.
Meanwhile, condominium sales continued to be favorable. As a result, inventory of completed condominiums significantly decreased from 816 units at the end of March 31, 2009, to only 372 units at the end of March 31, 2010. It still depends on the location, but the situation has started to change so that we may be able to try to raise condominium prices.
In terms of the content of valuation losses, such losses occurred mostly among condominiums in the fiscal year ended March 31, 2009; but in the fiscal year under review we stepped up loss accounting for block-sale condominiums for lease, business-use and country houses.
For the forecast for the fiscal year ending March 31, 2011, on the lower column, we expect a ¥136.8 billion operating revenue, up ¥18.0 billion from the previous year , and a ¥2.6 billion operating income, up ¥17.2 billion year on year.
This is primarily a reflection of the recovery in the number of condominium units sold and a sharp decline in valuation losses, which in turn would result in an increase in both operating revenue and operating income.
|
|
|
