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Profit for Japan's Open House seen soaring 47%

TOKYO -- Open House is expected to report group operating profit of roughly 12.5 billion yen ($99.4 million) for the three quarters ended June 30, a 47% increase from a year ago for the Japanese real estate brokerage.

     The company's sales of detached homes likely rose around 40%. With condominiums growing more expensive, people increasingly see houses as relatively undervalued.

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