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Urban Development Business Segment.
Both revenues and profit increased year-on-year to 87.2 billion yen and 17.4 billion yen, respectively.
The Urban Development business reported an increase in profit mainly due to progress in asset sales against the backdrop of a strong trading market.
In the Residential business, while asset sales increased, profit decreased due to a decrease in the number of condominiums for sale.
The full-year forecast is for an increase in revenues and a decrease in profit compared with the previous year, as shown in the lower part of the chart.
The Urban Development business is expected to post lower profit due to a decrease in sales of assets, while the Residential business is expected to post higher profit due to an increase in sales of assets, despite a decrease in the number of condominiums for sale.
Both the leasing business and the residential condominium sales business are performing well, even though earnings fluctuate due to the increase and decrease in asset sales.
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