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Next, I would like to present the results of the Property Management segment for the first six months of the fiscal year ending March 2015 and the forecast for the Property Management segment for the fiscal year ending March 2015.
In the first six months of the fiscal year ending March 2015, operating revenue rose ¥0.2 billion year on year, to ¥64.0 billion, but operating income declined ¥0.1 billion, to ¥3.6 billion.
Although revenue increased mainly due to an increase in stock under management, income declined primarily due to higher expenses for the strengthening of the quality management system.
With respect to the forecast for the fiscal year ending March 2015, we expect the operating revenue to be ¥141.3 billion, up ¥2.2 billion from the previous fiscal year mainly due to the continued increase of condominium stock under management, and operating income to be ¥9.4 billion, rising ¥0.2 billion year on year.
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