FY2020-Q3First statedAnnual report
「As a result, revenue in the trading division was ¥8,044.8 million, up 1.0% year on year, and operating profit was ¥713 million, down 33.7%. Revenue in the hotel division was ¥3,499 million, up 10.5%, and operating profit was ¥667 million, up 9.7%. In the real estate division, revenue was ¥159 million, down 53.7%, and operating profit was ¥152 million, down 49.1%, because the rental-equivalent amount previously recognized through August for the building in front of JR Funabashi Station was no longer recorded following termination of the lease agreement.」
The trading division reported higher revenue but lower profit, the hotel division reported higher revenue and higher profit, and the real estate division reported lower revenue and lower profit because rental-equivalent income ceased following termination of the lease for its principal property.