The Tokyo Stock Exchange has requested that listed companies expedite the disclosure of financial results summary reports, etc., and the announcement schedule for the July 2024 financial results summary reports has been revised to comply with this request.

We believe that in order to receive high praise from the stock market, the first priority is to improve our business performance. To achieve this, we will develop products that add value to our main product, EL FARO Mijas series, and strengthen our purchasing and sales capabilities, striving to develop and expand into new customer segments, thereby aiming to improve our business performance. We are also considering a span of about 10 years.

In addition to individual investors who have been repeat buyers of our series, we are constantly aware of changes in the market and are conducting sales activities through multiple channels to overseas investors in Asia and corporations looking for company housing.

In addition to businesses of investment real estate, we also have competitors when purchasing land, such as single-family home builders. In this environment, we aim to differentiate ourselves from our competitors by providing products that are distinctive in terms of design, location, and yield.

The sales and profit composition within the segment is expected to remain the same as in the previous fiscal year. As for the cost structure, we are keeping the increase in construction costs to a minimum through technological innovations, and are maintaining it at the same level as in the previous fiscal year.

As we have been able to distribute the timing of our property purchases in a well-balanced manner, we expect to make progress evenly this fiscal year. At this point, we do not plan to revise our earnings forecast.

It is difficult to give a specific answer due to confidentiality obligations in the sales contract, but there are almost no negative consequences. We make a management decision by comparing the benefits of reducing the time it takes to recover the investment and the benefits of development profits.

After the initial training, you will be assigned to actual projects.

We have created an educational curriculum and environment that enables even new graduates to become central players in projects within approximately one year of joining the company.

For the fiscal year ending July 2023, we signed new contracts for 573 units, but also canceled 456 units, resulting in a net increase of 117 units. The main reason for the cancellations was the sale of properties by owners, who then consolidated their management companies.

We will continue our efforts to increase the number of units we manage.

In order to provide more opportunities for returning profits to shareholders, we will be paying interim dividends from this fiscal year in addition to the current year-end dividends. (Partially updated on March 29, 2024)

Land is purchased after the business plan is formulated, so the basic type, structure, and shape of the building are already decided.

For alley-like sites in low-rise residential areas, we use MIJAS, and for sites in general residential areas with good access to roads, we use EL FARO.

Here we will post IR-related questions and information that we would like to share with you as soon as possible.

We have set this up as a venue to make it public.

Please look forward to future announcements!