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On the page 25, I would like to introduce the appraisal values at the end of the 12th period.
As indicated in the center in the bold frame, the appraisal values at the end of the 12th period increased by ¥4,335 million from those at the end of the 11th period, due to the internal growth such as improvement of property’s earning and expense, and decline in cap rates.
The unrealized gains are stated at the right end. In terms of the whole portfolio, it increased by ¥5.2 billion from the end of the previous period to ¥68.9 billion.
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