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I will touch on the Innovation business segment, chiefly consisting of overseas operations.
In the third quarter, revenue and profit fell mainly due to declining condominium sales in Indonesia.
Indonesia has been greatly affected by the pandemic, particularly in comparison with other ASEAN countries. Business activities have been affected such as temporary closure of condominium galleries as in Japan.
In our full-year forecast, revenue and profit are expected to decrease, reflecting a decrease in the number of condominium units sales posted in Indonesia associated with the impact of the pandemic, the effect of the transfer of the contracting business to the Property Management segment, and the discontinuation of the custom-built houses business.
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