QUICK Corp.

Equity Bottom-Up

<p>The price movement of the "Real Estate Developers" stock is likely to be bullish. The average for the eight stocks selected by QUICK over the past five business days up to 4th February increased 7.1%, which was higher than the 1.4% of the TOPIX for the same period. There was also a reissue order of the state of emergency. The number of newly infected people with the new coronavirus infection has stopped increasing at present. In addition, vaccination will begin in February in Japan. Therefore…</p>

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<p style="text-align: left;"><strong>Full-year OP is expected to decrease by 45% based on the impact of COVID-19 and business performance trends</strong></p>
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<strong>Wellness and Tokyu Hands fell in 1H<br></strong>The consolidated results for 1H of FY3/21 were operating revenue of JPY383.9bn (-7% YoY) and OP of JPY17bn (-46% YoY). In Urban Development, office rental income remained at the same level as the same period of the previous year while the vacancy rate remained at a low level. Due to the influence of COVID-19, major commercial facilities were temporarily…</li>
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<p>Notes: This is translated from our Japanese report issued on 20 Aug 2020.　</p>
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<p style="text-align: left;"><strong>The deterioration of business performance in 1Q was as expected in the initial plan. The company maintained its plan to expect worse performance for the full year</strong></p>
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<strong>In 1Q, fell in the red due to the impact of COVID-19<br></strong>The consolidated financial results for 1Q FY3/21 were an operating revenue of JPY150.3bn (-19% YoY) and an operating loss of JPY3.5bn (in the same period of the previous year, profit of JPY11.2bn). Profit and…</li>
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Japan

Tokyu Fudosan Holdings, Corp. is a holding company established through the merger of Tokyu Land Corporation, Tokyu Community Corp, and Tokyu Livable Inc. The Company manages operations for its subsidiaries.

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