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Next, I would like to present the results of the Property Management Business segment.
In the fiscal year ended March 31, 2016, this segment achieved operating revenue of ¥145.2 billion, with a year-on-year increase of ¥9.1 billion, and operating income of ¥8.0 billion, with a year-on-year decline of ¥1.1 billion.
While revenue grew based on increased stock of both condominiums and buildings under management, income decreased owing to an increase in expenses for strategic investments such as the maintenance and strengthening of the management system.
In the fiscal year ending March 31, 2017, the segment will see operating revenue rise ¥7.4 billion year on year, to ¥152.6 billion, and operating income rise by ¥1.0 billion year on year, to ¥9.0 billion.
We plan to continue adding stock of both condominiums and buildings under management to achieve revenue and income growth.
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