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Next, I would like to explain "icot Kongo", the transferred property.
We have decided to sell and transfer it due to the cost because of the building age of 38 years and the tenant prospect, considering it is good time to sell it under the bull market.
In addition, we believe we could enhance our portfolio and profitability by acquiring "Frontier Ebisu" at the same time.
The transfer price is ¥1,880 million which exceeds both of the appraisal value and the book value. The profit on sale is approximately ¥200 million and will be recorded in the 8th period.
Please turn over the next page.
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