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Changes in operating revenue and operating profit by segment are explained.
The operating revenue, as shown in the upper part above, decreased in the Innovation Business segment due to the impact of the transfer of part of the renovation business of Tokyu Homes in the Innovation Business segment to the Property Management segment; however, the operating revenue increased in the other segments, especially in major segments, such as Urban Development, Residential, Property Management and Real-Estate Agents, by ¥57.6 billion year on year.
Operating profit, as shown in the lower part above, increased ¥4.3 billion year on year in total. It significantly increased in the Urban Development segment by ¥5.9 billion, mainly due to increased gains on sales of properties including buildings for investors and improved lease revenues from existing real estates, and in the Real-Estate Agents segment, by ¥1.9 billion, which recorded strong performance.
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