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Next, I will explain the Residential segment.
In the fiscal year ended March 31, 2020, the segment recorded an increase in both revenue and profit. This was mainly due to a rise in the number of condominium units sold.
For the fiscal year ending March 31, 2021, we forecast a decrease in revenue largely due to a decline in sales by bulk, although the number of condominium units sold is expected to be about the same level as in the previous fiscal year.
In addition, the gross margin ratio for condominiums is likely to fall, which will result in a decrease in profit.
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