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In terms of the overview by segment, I would now like to start the explanation with the Urban Development segment.
In the fiscal year ended March 31, 2017, the segment posted a decrease in operating revenue of ¥9.7 billion year on year, to ¥249.0 billion, and an increase in operating profit of ¥0.1 billion year on year, to ¥44.9 billion.
The causes of the decrease in operating revenue of ¥9.7 billion included a decrease in gains on the sales of buildings for investors of ¥24.9 billion.
On the other hand, the increase in operating profit of ¥0.1 billion was caused by the contribution made by the operation of Tokyu Plaza Ginza, which opened in the previous fiscal year, and improved lease revenues from existing real estate, which offset the decreased gains on the sales of buildings for investors.
I would now like to explain the future outlook for the fiscal year ending March 31, 2018.
We are planning to increase operating revenue by ¥4.5 billion year on year, to ¥253.5 billion, and increase operating profit by ¥2.5 billion year on year, to ¥47.3 billion.
An increase in revenues will be achieved with the full-year contribution of National Students Information Center, which was acquired by M&A in the previous fiscal year, and an increase in profits mainly with an increase in gains on the sales of buildings for investors and the improvement of existing buildings.
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