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We will now cover the Property Management & Operation business segment.
For the third quarter, operating revenue came to 273.5 billion yen and operating losses to 3.4 billion yen, representing increases in revenues and profit over the same quarter in the previous fiscal year.
In the Property Management business, a rebound from the scaling-down of business activities caused by the impact of COVID-19 in the same quarter in the previous fiscal year and the accompanying drop in property management revenues resulted in an increase in profit.
Because of the large number of BtoC operations, our Wellness business and Tokyu Hands businesses continue to be considerably impacted by COVID-19 at present. However, as explained on p. 8, that impact is limited compared to the same quarter in the previous fiscal year, and both businesses posted an increase in profit.
For the full year, we are forecasting increases in revenues and profit over the previous fiscal year, with operating revenue of 390.0 billion yen and operating profit of 0.0 billion yen. The Property Management business is forecast to have an increase in profit due to a rebound from the scaling-down of business activities caused by COVID-19 and accompanying drop in property management revenues.
The forecast for the Wellness business and Tokyu Hands business takes the risk of a future resurgence of COVID-19 into consideration to a certain degree. However, those businesses are forecast to have an increase in profit over the previous fiscal year.
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