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I would like to move on to the explanation about Activia Account Properties.
We have, since IPO, invested in office buildings located outside Tokyo and retail properties other than Urban Retail Properties, in addition to Urban Retail Properties and Tokyo Office Properties, if such properties are deemed to be competitive based on our judgment. Now we have decided that we change the name of the asset category of Other Properties to Activia Account Properties, in order to clearly define the strategic significance of such "Other Properties." We do not intend to change our investment policy focusing on Urban Retail Properties and Tokyo Office Properties.
Out of the properties newly acquired in the 10th period and onwards, Umeda Gate Tower and A-PLACE Bashamichi are categorized as Activia Account Properties. These two properties have already achieved internal growth on back of their competitiveness, as indicated in the bottom left.
Other properties that were already included in our portfolio and are categorized as Activia Account Properties are shown in the right. All of these properties are highly competitive and stably operated, regardless of office building or retail property.
Please turn to the next page.
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