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Next, I will outline our plan for the sale of condominiums.
We plan to sell 1,906 units and record revenues of ¥89.5 billion for the fiscal year ending March 2016.
The contract ratio to sales forecast for condominiums stood at 77% and the inventory of completed units was 439 at the end of September 2015.
The gross margin on condominiums for the fiscal year ending March 31, 2016, is expected to be approximately 21%.
We acquired land for 1,397 units for ¥13.1 billion in the first six months, mostly for projects carried out over a relatively long period of time such as redevelopment projects.
As a result, we have land for a total of 8,400 units (proposed) to be delivered during the fiscal year ending March 2017 or thereafter.
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