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Urban Development Segment.
In the second quarter, operating revenues were 142.3 billion yen and operating profit was 23.4 billion yen, increases in both revenues and profit from the same period of the previous year.
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 sales 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 decrease in profit due to a decrease in sales of assets, while the Residential business is expected to increase in profit due to an increase in sales of assets, despite a decrease in the number of condominiums for sale.
Performance fluctuations due to increases and decreases in asset sales have also been favorable in both the leasing and residential property sales businesses.
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