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![Land for condominiums sales [Parent company]](../images/18.jpg)
Please let me now provide a breakdown of land for condominium sales.
The bar graph on the left shows the book value of land for condominium sales on a non-consolidated basis by acquisition date.
The total book value of land for condominium sales as of March 31, 2011 stood at ¥69.8 billion.
The graph shows that the book value of each project that was acquired in or before the fiscal year ended March 2008 and had sluggish profitability, due to revisions in sales prices, declined steadily.
We began to acquire land for condominiums from the fiscal year ended March 2010, based on a policy of aggressively acquiring sites from which we expect appropriate margins. In the fiscal year ended March 2011, we acquired 2,453 units worth about ¥40.0 billion.
We plan to invest ¥52.5 billion in condominiums in the current fiscal year, and will continue to actively acquire land. |
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