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We will now look at the Innovation Business segment.
In the fiscal year ended March 31, 2016, operating revenue increased ¥3.7 billion year on year, to ¥51.2 billion, and operating loss grew ¥2.5 billion to become ¥3.0 billion.
Operating revenue rose due to increased property sales in the overseas businesses. A reduced number of completed renovated and custom-built homes, however, led to a decrease in operating income.
In the fiscal year ending March 31, 2017, the segment is projected to reach operating revenue of ¥70.3 billion, up ¥19.0 billion year on year, and operating loss of ¥0.6 billion, up ¥2.4 billion year on year.
We expect to see an increase in both revenue and income based on growth in sales of property units in the overseas businesses.
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