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宿業 is the Buddhist concept of Past Karma. Simply put, it's the sum of all the good and bad from all previous lives (perhaps earlier in your current life). This term is not commonly used outside of the Buddhist faith (you'll have a tough time finding a non-Buddhist Asian person that knows this word).
Other ways to translate this are “The karma of previous existence,” “The karma remaining from prior existences,” or simply “Former karma.”
See Also: Buddhism