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Slide 10 summarizes forecast DPU for the next two periods.
DPU for the FP18 ending November 2020 are forecasted to be ￥9,040, down ￥468 from the previous period due to temporary rent reduction, even if some positive factors are seen such as internal growth achieved in office. DPU for the FP19 ending May 2021 are forecasted to be ￥9,280, up ￥240 from the preceding FP as impact will be less significant in amount.
We are of the view that DPU will find a base in FP18 ending November 2020, and from the FP19 ending May 2021, earnings will be on a recovery phase. Although it is still possible that infection spread becomes dire again, potential decline in revenue due to COVID-19 is already incorporated into the forecast DPU for the next two period, so we will continuously work to bottom up DPU with minimizing impact and pursuing our internal growth strategy.
Please turn to the next slide.
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