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I will now explain the overview of each segment, start with the urban development segment.
Operating revenue was JPY36.5 billion, and operating profit was JPY4.9 billion.
Revenue decreased, but profit increased compared with the same period of the previous fiscal year.
In the urban development business, despite a decrease in revenues from the sale of assets, profits increased due to the full-year operation of Tokyo Port City Takeshiba and improvements from the impact of COVID-19 on commercial facilities etc.
In the residential business, while the number of units recorded increased mainly in the completed inventory at the beginning of the fiscal year amid the strong market conditions for condominiums, profits declined due to a reactionary increase in expenses associated with the recovery to normal sales activities etc.
Due to the closure of commercial facilities, an extraordinary loss of 0.9 billion yen (2.2 billion yen in the same quarter of the previous fiscal year) due to the COVID-19 was recorded in this segment.
As for the full-year forecast, as described in the lower section, we plan to increase both revenues and profits due to the sale of offices and commercial facilities and an increase in the number of condominiums sold etc.
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