Income from continuing operations is expected to be in the range of 0.75 – 1.10 billion yen. In contrast to the revised FY2023 revenues forecast of 22.5 billion yen announced together with other updated guidance for FY2023 on December 13, 2023, the Company anticipates that FY2024 revenues will increase by 22.2% to 33.3% year-on-year. The Company expects that such growth will be primarily driven by the ongoing collaboration with private funds managed by BlackRock’s Real Estate division under the business collaboration agreement announced on December 11, 2023. FY2024 income from continuing operations is projected to decrease by 24.1% to 51.7% compared to the 1.45 billion yen for FY2023 announced in the Revised FY2023 Financial Guidance. The Company expects that such decrease will be primarily due to rising costs associated with the Company’s M&A strategy for future growth.
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