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Next, we will briefly explain the major factors behind the increase in operating profit.
Operating profit for the first quarter of current fiscal year and the same quarter of the previous year and the red display below the segments(urban development and property management & operation) show the figures without transfer to the loss on COVID-19.
Overall, profits increased by 14.2 billion yen yoy and 19.3 billion yen year-on-year before the transfer to the loss on COVID-19.
In the real estate agents segment, in addition to the reaction to the closure of business stores due to the impact of the COVID-19 in the same quarter of the previous year, the amount of transactions increased due to the booming real estate distribution market, and the recording of large-scale real estate sales properties increased.
Profit increased by 5.8 billion yen.
In the property management and operation segment, the impact of COVID-19 was mainly in the wellness and Tokyu Hands business, but the impact was reduced compared to the same quarter of the previous year. In both businesses, profits increased significantly before the loss transfer due to the COVID-19.
For the entire segment, increased by 3.8 billion yen year-on-year, and before the loss transfer due to the COVID-19, profit increased by 7.6 billion yen yoy, confirming a certain recovery from the impact of COVID-19.
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