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I would now like to explain the overview of the results for the fiscal year ended March 31, 2017.
With operating revenue of ¥808.5 billion, operating profit of ¥73.2 billion, ordinary profit of ¥63.6 billion and profit attributable to owners of parent of ¥31.5 billion, the results showed a decrease in revenues and an increase in profits compared to both the previous year and the forecast.
The increase in profits was achieved because although the Urban Development segment showed a decrease in revenues due to lower gains on the sales of buildings to investors, this was offset by profits in the Residential segment, which increased due to improved gross margins of condominiums and the strong performance of Tokyu Stay Hotel in the Wellness segment and the Real-Estate Agents segment.
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