• Kyodo

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Phoenix Resort Ltd., operator of the Seagaia resort complex in Miyazaki Prefecture, said Friday it booked an unconsolidated net loss of 2.9 billion yen in the shortened business term that ended in March.

With the business term in question having begun in August 2001 and covered just eight months, the figure is much smaller than the annual losses of more than 10 billion yen previously generated by the resort complex.

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