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Next, I would like to present the results of the Property Management segment.
In the first six months of the fiscal year ending March 2016, operating revenue and operating income rose, due primarily to increased stock of both condominiums and buildings under management.
In the forecast for the fiscal year ending March 2016, we expect both an increase in operating revenue and a decrease in operating income.
While we expect an increase in operating revenue based on forecast growth in the stock under management, income is expected to decrease owing to an increase in expenses for strategic investments such as the maintenance and strengthening of the management system.
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