The 2Q revenue was 497.5 billion yen. Excluding forex impact, it was down 1%. For the 2Q, excluding forex, it became up 2%, showing a small increase in revenue. But operating profit shows a big decline. I will go through the details later, but on YoY basis, we had a loss of CRE revenue from the sale & lease back and of course we had a forex impact. But on top of them, we had significant delays in manufacturing cost reduction pushing down gross profit ratio about 1% YoY. Of course, it goes without saying that we are restricting SG&A, but in the SG&A, we have a variety of upfront investment for the future. We were not able to fully absorb it in a nutshell for the quarter.
For the 2Q, excluding forex, it became up 2%, showing a small increase in revenue. But operating profit shows a big decline. I will go through the details later, but on YoY basis, we had a loss of CRE revenue from the sale & lease back and of course we had a forex impact.
But on top of them, we had significant delays in manufacturing cost reduction pushing down gross profit ratio about 1% YoY. Of course, it goes without saying that we are restricting SG&A, but in the SG&A, we have a variety of upfront investment for the future. We were not able to fully absorb it in a nutshell for the quarter.