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We will now cover the Property Management & Operation business segment.
In FY2021 ended March 31, 2022, operating revenue came to 383.8 billion yen and operating loss to 0.1 billion yen, representing increases in revenues and profit year on year.
In the Property Management business, a rebound from the scaling-down of business activities caused by the impact of COVID-19 in the previous fiscal year and the accompanying drop in property management revenues resulted in an increase in profit.
In the Wellness and Tokyu Hands businesses, the impact of COVID-19 was persisting. Nonetheless, the restrictions on both businesses were limited compared to the previous fiscal year, resulting in an increase in profit.
For the fiscal year ending March 31, 2023, we are forecasting operating revenue of 345.0 billion yen and operating profit of 11.9 billion yen, representing decrease in revenues and increase in profit year on year.
Revenues were significantly down as Tokyu Hands business was excluded from the Company’s scope of consolidation as of March 31, 2022.
The Property Management business is expected to see an increase in profit due to the strong performance of construction work and leased conference rooms businesses. The Wellness business is also slated to have an increase in profit due to further recovery from the impact of COVID-19 in our hotel and healthcare businesses.
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