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Please allow us to present financial highlights.
For our financial results in the first quarter, operating profit came to 24.9 billion yen and profit attributable to owners of parent to 14.4 billion yen, representing a significant increase in profit from the same quarter in the previous fiscal year.
This was primarily attributable to increases in the total number of units sold of condominiums and in gain on sales of assets, as well as greater bounce-back from the restrictions on business activities as a result of the state of emergency and other measures at each sales facility in the same quarter of the previous fiscal year.
Operating profit was the highest ever recorded in the first quarter, which represents 27.7% progress towards the full-year forecast for FY2022.
While the impact of COVID-19 has been persisting, restrictions on sales activities are gradually being eased, as exemplified by unrestricted Golden Week holiday activities in 2022 for the first time in three years.
The return of inbound demand will require some time, whereas domestic demand showed signs of recovery even in certain businesses affected by COVID-19.
However, the most recent reemergence of COVID-19 needs to be closely monitored.
On the non-financial side, the Company was selected for inclusion in the FTSE4Good Index Series, a global ESG index, for the 13th year running.
The FTSE4Good Index Series, an index created by FTSE Russell, rates the sustainability of major global companies based on the three aspects: Environmental, Social and Corporate Governance. Upon evaluation, companies with overall excellence are selected for inclusion in the Series.
We believe that the selection this time demonstrates that we are recognized as a company that can be expected to achieve sustainable growth over the years to come through the Group's efforts to address ESG-related management issues.
Lastly, we announced the medium-term management plan 2025 in May.
We positioned this medium-term management plan as the Restructuring phase set in the Long-term Management Policy released in 2021, aiming to improve earnings power and efficiency for our renewed growth in the post-COVID-19 business landscape.
In line with this, we will work on building a solid and distinctive business portfolio in order to realize our ideal vision for 2030.
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