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Next is the Real Estate Agent segment.
In the first quarter, this segment recorded declines in both revenue and profit chiefly due to a fall in the number of transactions in both retail and wholesale activities and the absence of development projects recorded in the real-estate sales agent business in the same period of the previous fiscal year, reflecting factors such as the closure of stores.
In our full-year forecast, we project declines in revenue and profit on expectations of decreased real estate sales agent earnings due to the scaling back of sales activities amid the spread of the coronavirus.
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