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I will now provide an overview of the results and forecasts by segment. First, I will explain the results in the Urban Development segment.
In the first six months of the fiscal year ending March 2017, both operating revenue and operating income decreased.
The opening of Tokyu Plaza Ginza on March 31 as the new contributing factor improved revenues from existing buildings, and other positive factors were offset mainly by a decrease in gain on sale of buildings for investors, etc., which resulted in the declines in both revenue and income.
We expect an increase in revenue and a decrease in income for the fiscal year ending March 31, 2017.
Revenue is expected to increase, mainly reflecting the new operation of Tokyu Plaza Ginza, etc. and the acquisition of NATIONAL STUDENTS INFORMATION CENTER in November. However, we expect a decline in income, due in part to a decrease in gain on sale of buildings for investors, etc.
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