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In the fiscal year ended March 31, 2017, the Company posted operating revenue of ¥808.5 billion and operating profit of ¥73.2 billion.
Although the Urban Development segment recorded a decrease in revenues from the previous year mainly due to decreased gains on the sales of buildings to investors, the Real-Estate Agents and Wellness segments showed strong performance in addition to the increased profit of condominiums. As a result, profit increased both year on year and over the forecasts. We achieved a DER of 2.6 as well.
We were able to achieve operating profit of ¥73.0 billion and a DER of 2.6 as targeted in the midterm plan.
In the forecast for the fiscal year ending March 31, 2018, we expect operating revenue of ¥840.0 billion and operating profit of ¥73.5 billion.
We are planning an increase in both revenues and profits on the back of continuously steady market conditions.
Major topics in the fiscal year ended March 2017 were the commencement of works for the large-scale projects we have promoted; that is, the Takeshiba Project and two blocks of Dogenzaka 1-chome and Nampeidai in the Shibuya Redevelopment Projects. They made a good start toward the openings scheduled in FY2019 to FY2020.
In addition, the Company made National Students Information Center, which engages in the student condominiums management business, a subsidiary through M&A in November to expand business opportunities in the rental housing units business.
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