Financial Highlights FY2023 Second Quarter (First Six Months) Ended September 30, 2023

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	Cover

	Disclaimer

	Contents

	Highlights

	Progress of Medium-Term Management Plan and Initiatives to Enhance Corporate Value

	Summary of the FY2023 Second Quarter (First Six Months) Ended September 30, 2023, and Earnings Forecasts FY2023 Major business environment FY2023 Q2 (First six months) Operating Results, major index FY2023 Q2 (First six months) Segment performance FY2023 Q2 (First six months) Analysis of segment performance FY2023 Q2 (First six months) Summary of balance sheets Results for the First Six Months of FY2023: Asset Breakdown by Segment and ROA Trends Market value appraisal for leased properties Summary of Cash flow and Investment plan Gross profit on sales and land and buildings for sale by assets FY2023 Earnings Forecasts, major index FY2023 Segment performance Forecast New Forecasts for FY 2023 FY2023 Earnings forecasts and analysis of segment performance Financial Condition Shareholder Return

	Segment Overview

	Urban Development

	Strategic Investment

	Property Management & Operation

	Real Estate Agents

	Partner co-creation initiatives

	Sustainability Initiatives

	DX Initiatives

FY2023 Earnings forecasts and analysis of segment performance

The following is an analysis of year-on-year changes in operating profit by segment in the forecast for the fiscal year ending March 31, 2024.

While operating profit in the urban development and strategic investment businesses are expected to decrease, overall operating profit is expected to increase by 4.6 billion yen year-on-year due to a further recovery in the wellness business and an increase in the real estate agent sales.