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This slide relates to our Tokyu Hands business.
At Tokyu Hands, Inc., taking the opportunity of the 40th anniversary of its founding, we conducted various campaigns as well as making efforts to enhance the value of the Tokyu Hands brand by strengthening our unique customer service contents, including a product demonstration program called “Hint Show.”
In this business segment, we recorded operating revenue of ¥97.2 billion (up ¥1.4 billion year on year) with operating profit of ¥0.3 billion (down ¥0.8 billion). Although revenue increased mainly due to the contribution of new stores, operating profit decreased due partly to a decline in revenues at existing stores and higher promotion expenses related to the anniversary sales campaigns.
For the fiscal year ending March 31, 2018, we expect ¥98.9 billion in operating revenue (up ¥1.8 billion year on year) with ¥0.1 billion in operating profit (down ¥0.1 billion). We expect revenue growth in view of contributions from new stores, but the higher start-up costs associated with the new store openings will send the operating profit lower than the level for the previous year.
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