Slowing acquisition of new shared-office members and higher-than-expected cancellations
First written in FY2021-Q3. 3 of 7 entries say "Restated". Latest entry: FY2023.
No other company in this theme has enough history to compare yet.
- FY2023MitigatedAnnual report
「During the current period, the effects of promotional measures such as the zero initial-fee campaign and rising utility costs affected profit and loss. However, the campaign's effects and the return to normal life as it was before the COVID-19 pandemic also contributed to an improvement in shared-office utilisation.」
The company stated that shared-office utilisation improved against a backdrop of promotional campaigns and the normalisation of social and economic activity, indicating that challenges in member acquisition and utilisation are easing. Meanwhile, rising utility costs remain a headwind to profit and loss. - FY2023-Q3RestatedAnnual report
「Although membership and sales are growing year on year, led by THE HUB all access, business growth continues to take longer than initially expected amid changing external conditions. We will also work to improve the earnings structure, including through cost reductions.」
The company continues to explain that, although membership and revenue are growing, business growth continues to take time. - FY2023-Q1RestatedAnnual report
「Although membership and revenue are growing year on year, led by THE HUB all access, business growth continues to take time amid changing conditions, and we are closely monitoring the feasibility of executing the plan.」
Although membership and revenue are growing, led by THE HUB all access, business growth continues to take time, and the company continues to monitor the feasibility of executing its plan. - FY2022-Q2MitigatedAnnual report
「At all access, the number of pay-as-you-go members increased significantly, but the usage fee per member was below plan, so revenue did not rise in proportion to the increase in users.」
Pay-as-you-go membership increased significantly, indicating an improvement from the slowdown in new-member acquisition reported for the previous period. However, usage fees per member were below plan, leaving profitability challenges unresolved. - FY2022-Q1MitigatedAnnual report
「Although membership in the new service was trending sharply higher, the proportion of pay-as-you-go members was high, and segment profit remained negative.」
In response to the slowdown in new-member growth and higher-than-expected cancellations reported in the previous fiscal year, the company explained that membership in the new service was trending sharply higher. However, the proportion of pay-as-you-go members was high, and losses continued. - FY2021RestatedAnnual report
「In the consolidated fiscal year under review, growth in new members slowed more than initially expected, partly because of costs associated mainly with opening directly operated locations for the new service, the effect of advertising to acquire users, and the impact of declarations of a state of emergency and other factors. Cancellations also exceeded expectations, and segment profit remained negative.」
The slowdown in new-member growth and higher-than-expected cancellations continued, and the sharing-economy business, including new services such as Smart Office, remained loss-making. - FY2021-Q3MaterialisedAnnual report
「The segment remained in the red partly because growth in new members slowed more than initially expected and cancellations also exceeded expectations.」
States that slower growth in new members and higher-than-expected cancellations actually occurred and contributed to losses in the sharing-economy segment.