Tenant Store Openings and the Recovery Risk for Security Deposits
First written in FY2016. 14 of 23 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 5 of 18 companies on the "Worse" side.
5 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「As of the end of February 2026, security deposits accounted for 8.7% of total assets.」
The risk of recovering security deposits paid continues, but their proportion of total assets declined from 9.7% in the previous fiscal year to 8.7%. - FY2026-H1RestatedAnnual report
「No new business or other risks arose during the interim consolidated accounting period. There are also no material changes to the business and other risks described in the annual securities report for the previous consolidated fiscal year.」
It states that there have been no material changes regarding existing business and other risks, including tenant store openings and the risk of recovering security deposits paid. - FY2025-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2024MitigatedAnnual report
「In addition, because security deposits are paid to lease premises when opening tenant stores, security deposits accounted for 9.7% of total assets as of the end of February 2024.」
The risk of recovering security deposits paid continues, but their proportion of total assets declined from 10.5% in the previous fiscal year to 9.7%. - FY2024-Q1RestatedAnnual report
「There are no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It reconfirms that there have been no material changes regarding existing business and other risks, including tenant store openings and the risk of recovering security deposits paid. - FY2023MitigatedAnnual report
「As of the end of February 2023, security deposits accounted for 10.5% of total assets.」
The risk of recovering security deposits paid continues, but their proportion of total assets declined from 12.9% in the previous fiscal year to 10.5%. - FY2022WorsenedAnnual report
「As of the end of February 2022, security deposits accounted for 12.9% of total assets.」
The risk of recovering security deposits paid continues, and their proportion of total assets increased from 11.9% in the previous fiscal year to 12.9%. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding existing business and other risks, including tenant store openings and the risk of recovering security deposits paid. - FY2022-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding existing business and other risks, including tenant store openings and the risk of recovering security deposits paid. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2021MitigatedAnnual report
「As of the end of February 2021, security deposits accounted for 11.9% of total assets.」
The risk of recovering security deposits paid continues, but security deposits as a percentage of total assets declined from 13.7% in the previous fiscal year to 11.9%. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2021-Q1RestatedAnnual report
「There are no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2020MitigatedAnnual report
「As of the end of February 2020, security deposits accounted for 13.7% of total assets. Although most of the Group's stores are opened with major developers, all or part of the security deposits may become unrecoverable due to the bankruptcy or other circumstances of the lessors.」
The risk of recovering security deposits continues, but security deposits as a percentage of total assets declined from 14.9% in the previous fiscal year to 13.7%. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2020-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2019MitigatedAnnual report
「As of the end of February 2019, security deposits accounted for 14.9% of total assets. Although most of the Group's stores are opened with major developers, all or part of the security deposits may become unrecoverable due to the bankruptcy or other circumstances of the lessors.」
The risk of recovering security deposits continues, but security deposits as a percentage of total assets declined from 16.3% in the previous fiscal year to 14.9%. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2019-Q2RestatedAnnual report
「There are no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits. - FY2019-Q1RestatedAnnual report
「There are no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It explicitly states that there have been no material changes regarding tenant store openings and the risk of recovering security deposits paid. - FY2018Security deposit ratio declinesAnnual report
「Because we pay security deposits when opening tenant stores, security deposits accounted for 16.3% of total assets as of 28 February 2018. Our group opens stores primarily with major developers, but all or part of the security deposits may become unrecoverable due to the bankruptcy or other circumstances of the lessor.」
The risk of recovering security deposits continues, but the ratio of security deposits to total assets changed from 17.4% in the previous fiscal year to 16.3%. - FY2017RestatedAnnual report
「As of 28 February 2017, security deposits accounted for 17.4% of total assets. Our group opens stores primarily with major developers, but all or part of the security deposits may become unrecoverable due to the bankruptcy or other circumstances of the lessor.」
The disclosure continues to state that security deposits account for 17.4% of total assets and may become unrecoverable due to circumstances affecting the lessor. - FY2016First statedAnnual report
「As of 29 February 2016, security deposits accounted for 17.4% of total assets. Our group opens stores primarily with major developers, but all or part of the security deposits may become unrecoverable due to the bankruptcy or other circumstances of the lessor.」
The exposure to security deposits associated with tenant store openings is quantified at 17.4%, and the possibility of non-recovery is identified.