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Next, the Property Management segment is explained.
For the fiscal year ended March 31, 2018, both revenue and profit increased mainly due to increased revenue from property management owing to the continued expansion in property stocks of both condominiums and buildings under management, the start of business of Tokyu Re- design Corporation, which was established as a subsidiary of Tokyu Community Corp. from October 2017, and the impact of transfer of a part of the renovation business from the Innovation Business segment.
Revenue and profit for the fiscal year ending March 31, 2019 are both expected to increase mainly due to the continued expansion in property stocks of both condominiums and buildings under management and the consolidation of the renovation business.
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