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![Outline of plan [Parent company]](../images/12.jpg)
Next, I will outline our plan for condominiums for sale.
We plan to sell 2,459 units and record revenues of ¥92.3 billion for the fiscal year ending March 2012 (on a non-consolidated basis).
The plan includes sales from block-sale properties for lease of 480 units for ¥12.9 billion.
The contract ratio to sales plan, except for block-sale properties for lease, remained solid at 76%, as sales of condominiums remained strong. The inventory of completed units fell from 220 at the end of March 2011 to 139 at the end of September.
We plan to deliver projects, including Branz Minami Yukigaya and Branz Aobadai 2-chome, which we acquired in the fiscal year ended March 2010 following the collapse of Lehman Brothers, in the fiscal year ending March 2012, but there are still projects that will not contribute significantly to earnings. Overall, we expect the gross margin for the condominiums to be around 16%.
We have acquired land for approximately 5,500 units (pipelines) to be delivered in or after the fiscal year ending March 2013.
With respect to buildings for sale, we acquired the former JT Ebisu Minami Building in the second quarter and held a total of eight properties, including Yoyogi Place, at the end of September. |
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