Q1 2021 Mitsui Fudosan Co Ltd Earnings Net Conference Transcript
Good afternoon, everyone. I am Uchida, Executive Manager of the Investor Relations department. I will present the first quarter fiscal 2020 results. I will discuss the results in more detail later, but at a high level, our first quarter results were impacted by the COVID-19 outbreak, reflecting our decision to cooperate with government requests and close our retail facilities, hotels and retail brokerage sales offices. In addition, given that the decision to close our retail facilities curtailed opportunities to generate revenue, we chose to provide rent relief for retail tenants while the facilities were closed.
We note that since mid-May onward, we gradually reopened our retail facilities and hotel and resort properties having put into place appropriate preventative measures to ensure the safety and security of our customers and facility staff as a top priority.
In our office business, requests to terminate leases or for rent relief have been limited. Existing office rent revenues are increasing. In the domestic
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