|
|
 |
I will move on to explain the Wellness segment.
This segment was most hard hit by the spread of the coronavirus.
The Wellness segment recorded significant declines in revenue and profit due to the closure or shorter operating hours of facilities managed by the likes of Tokyu Stay, Tokyu Sports Oasis and Tokyu Harvest Club following the declaration of a state of emergency and requests by local governments.
In our full-year forecast, we project higher revenue and lower profit, reflecting an expected decline in operating revenue due to the closure and shorter operating hours of various facilities amid the spread of the coronavirus, which will offset an increase in asset sales.
The deterioration in performance during the first quarter was mostly in line with expectations and we assume that results will gradually recover from the second quarter. We will, however, monitor the progress of recovery in the second quarter given recent concern over a resurgence in infections.
|
|
|
