The office building rental market in Central Tokyo continued to see a relatively high vacancy rate of 6% during FY22. Although new demand to consolidate offices into larger spaces was observed during FY22, corporates, especially large companies, promoted remote working which led to the cancellation of demand for office space. As a result, the level of rent in Central London remained sluggish. Nonetheless, not only did the new Hibiya Fort Tower contribute to segment earnings, the improved utilisation of Bracton House and a recovery in the utilisation of IINO HALL and Photo Studio, both of which were affected by the COVID closures, also bolstered growth. The flagship IINO Building remains fully occupied.