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Next, we will explain the business strategies for each business segment.
First, we will look at the Urban Development business segment. The ideal situation in fiscal 2020 ending March 31, 2021, which we will work to achieve, is the establishment of the No. 1 position in the Greater Shibuya Area. We will aim to increase our presence and earnings power through the development of large facilities at the city center.
Under the first business strategy, "development and new investments to establish the position," we will steadily carry out ongoing major projects, such as the redevelopment of Ginza, Takeshiba and Shibuya.
We will also seek to expand the associated assets through investments in operating properties and circulation-type reinvestments, and continually promote new developments.
Under the second business strategy, "qualitative improvement of the asset portfolio," while we will strive to carry out appropriate portfolio management mainly through the replacement of assets, we will seek to expand the related revenues through the growth of the asset management business, such as REITs and private funds.
Under the third strategy, we will take measures to develop new types of properties and promote the development of new businesses by taking into account the trends of policies and needs in the infrastructure-related business and other businesses.
As the graph below indicates, with the implementation of the business strategies, Tokyu Fudosan will increase the total floor areas in office buildings and commercial facilities until fiscal 2016, and we also plan that the level of associated assets by listed REITs and private funds will steadily increase.
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