Fluctuations in performance due to the timing of real estate completion and delivery
First written in FY2022. 5 of 6 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2026: 4 of 10 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「In the Group's development and sales business, revenue and profit fluctuate depending on the timing of property handovers. The concentration of property handovers in particular periods could affect period results.」
The company has reconfirmed the structure in which period results fluctuate depending on the completion and handover timing of properties. - FY2026-H1RestatedAnnual report
「Because the Company’s core business is new real estate development carried out internally, revenue is recognized when properties are completed and delivered, and quarterly revenue therefore tends to fluctuate significantly.」
The company has reconfirmed the structure in which quarterly results fluctuate because new in-house real estate development is its core business and revenue is recognized upon completion and handover. - FY2025RestatedAnnual report
「The Group’s quarterly results fluctuate according to the timing of real estate deliveries and depend substantially on whether large-scale development projects are present and on the completion and delivery timing of individual properties.」
The company has reconfirmed the structure in which quarterly results are affected by the completion and handover timing of projects under the handover basis. - FY2025-H1RestatedAnnual report
「Because the Company’s core business is new real estate development carried out internally, revenue is recognized when properties are completed and delivered, and quarterly revenue therefore tends to fluctuate significantly.」
The structure of significant quarterly fluctuations is reaffirmed: new internally developed properties are the core business and revenue is recognized on completion and delivery. - FY2024-Q1RestatedAnnual report
「Under the Group’s business plan for the fiscal year ending March 2024, deliveries of completed properties in the real estate development and sales business and the condominium business are concentrated in the second half, resulting in a plan weighted toward the second half for both revenue and profit.」
The structure in which performance fluctuates with completion and delivery timing is specifically reaffirmed through the second-half-weighted plan for the fiscal year ending March 2024. - FY2022First statedAnnual report
「The Group’s quarterly results fluctuate according to the timing of real estate deliveries and depend substantially on whether large-scale development projects are present and on the completion and delivery timing of individual properties.」
Because the Group uses delivery-based recognition, delays in sales activity or construction and differences in prices may affect full-year results.