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I would like to begin by providing an overview of the financial results for the first six months of the fiscal year ending March 2012.
Operating revenue declined ¥26.6 billion year on year, to ¥241.0 billion, while operating income decreased ¥22.9 billion, to ¥16.6 billion. Ordinary income stood at ¥8.7 billion, dropping ¥27.2 billion.
Operating revenue declined, primarily reflecting the elimination of ¥24.4 billion of distributions from the sale of buildings by SPCs which we recorded in the first half of the previous fiscal year and a fall in the recorded number of condominium units sold. Operating income also decreased, principally attributable to a fall in distributions from sales of buildings.
Net income was ¥24.8 billion, a significant increase of ¥22.7 billion year on year, as we posted extraordinary income of ¥48.3 billion and extraordinary losses of ¥26.4 billion, the result of the consolidation of SPCs in the first quarter. |
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