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I would now like to explain the changes in operating revenue and operating income by segment.
As the bar graph at the top shows, operating revenue declined in the Urban Development segment due to the decline in gain on sale of buildings for investors, etc. Revenue also declined in the Residential segment, mainly because of the lump-sum sales of land in the same period of the previous fiscal year. As a result, operating revenue decreased ¥32.0 billion year on year.
The operating income at the bottom declined ¥4.2 billion year on year. As with operating revenue, the decline is attributed to the decrease in operating income in the Urban Development segment and the Residential segment caused by the decline in gain on sale, which offset the increase in income in the Real-Estate Agents and Wellness business segments, attributed to their strong performance.
I will explain the performance of each segment in greater detail later on.
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