Risk of Tenant Departures and Extensive Vacancy in the Subleasing Business
First written in FY2020-Q2. 1 of 2 entries say "Restated". Latest entry: FY2020-Q3.
The whole theme swung hardest in 2024: 5 of 15 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2020-Q3RestatedAnnual report
「In the real estate management business, the Group operates a subleasing model under which it leases entire buildings from property owners and sublets them to tenants. During the lease term with the property owner, the Group pays a fixed monthly rent regardless of whether tenants occupy the property or the amount of rent received from them. As a result, a sudden tenant departure, or the resulting prolonged or extensive vacancy, could have a material impact on the performance of the real estate management business.」
固定家賃を支払うサブリース構造と、テナント退出・長期間または大量の空室による業績影響リスクを継続している。 - FY2020-Q2First statedAnnual report
「In the real estate management business, the Group operates a subleasing model under which it leases entire buildings from property owners and sublets them to tenants. During the lease term with the property owner, the Group pays a fixed monthly rent regardless of whether tenants occupy the property or the amount of rent received from them. As a result, a sudden tenant departure, or the resulting prolonged or extensive vacancy, could have a material impact on the performance of the real estate management business.」
The company explains its fixed-rent subleasing structure and identifies sudden tenant departures and prolonged or extensive vacancy as material risks to results.