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Lastly, I will explain the Innovation Business segment, which consists mainly of overseas operations.
In the first quarter, the segment reported lower revenue and lower profit, largely owning to fewer condominium sales in projects such as BRANZ SIMATUPANG and BRANZ BSD in Indonesia.
As in Japan, business activities were affected by the spread of the coronavirus, with the temporary closure of show homes and so forth.
In our full-year forecast, we project declines in both revenue and profit, reflecting fewer condominium sales in Indonesia as a result of the spread of the coronavirus, the transfer of the contracting business to the Property Management segment, and the discontinuation of the custom-built houses business.
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