Q3 2021 Ichigo Inc Earnings Call Transcript
Hi, everybody. This is Scott Callon. Thank you so much for joining. I'm in a mask with a few colleagues here. So hopefully, you can hear me through the muffled mask. I'm working off of a presentation that's on our website, FY '21/2 Q3 corporate presentation. So let's go to it.
Starting on Page 8. You can see the summary of activities year-to-date. It's been a very tough year. Despite that, everything that's going on in the world, we continue to have a very durable earnings model with our stock earnings running at about double our fixed expenses. We continue to be structurally profitable.
Stock earnings. So those are -- they're relatively fixed contractually, earnings that are core of our business. The drop-off in sustainable real estate is affected entirely from hotel, rental income having fallen off. The drop-off in asset management is again [pieced] off of our hotel REIT. And we have an uptick in clean energy, which continues to grow pretty well.
We did a first time ever in Japan for
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