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![Outline of plan [Parent company]](../images/15.jpg)
Next, I will outline our plan for condominiums for sale.
We plan to sell 2,438 units and record revenues of ¥102.0 billion for the fiscal year ending March 2013 (on a parent company basis).
The plan includes sales from block-sale properties of 116 units for ¥1.9 billion.
The contract ratio to sales plan, except for block-sale properties, remained solid at 43%, as sales of condominiums remained strong. The inventory of completed units remained at a low level, being 291 units at the end of March 2012.
In the fiscal year ending March 2013, we expect the gross margin for condominiums overall to improve further from the previous fiscal year to around 19%, as all projects acquired before the collapse of Lehman Brothers, which will not contribute significantly to earnings, will be completed.
We acquired land for 2,742 units for ¥35.8 billion in the fiscal year ended March 2012 under a policy to acquire properties that permit us to anticipate an appropriate margin. As a result, we have land for a total of 4,400 units (pipelines) to be delivered in or after the fiscal year ending March 2014. |
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