One-time expenses related to the syndicated loan drawdown weigh on net income

「Syndicated loan fees 36,499 5,277」

「Interest expense and fees and other costs associated with the syndicated loan refinancing at the end of March were incurred as non-operating expenses, resulting in ordinary income of ¥21 million, down 90.4% from the previous fiscal year.」

「Non-operating income and expenses were affected by higher interest expense on borrowings for construction of the new building, “Santomoon Oasis,” and ¥32 million in fees under the syndicated loan agreement continued at the end of December. As a result, the company posted an ordinary loss of ¥38 million, compared with ordinary income of ¥189 million in the same period of the previous year.」

「The absence of the one-time expenses related to investment in the commercial facilities business in the previous fiscal year also contributed to operating income rising 24.3% year on year to ¥407 million, with all business segments recording operating profit for the first time in 13 fiscal years.」

「The absence of the one-time expenses related to investment in the commercial facilities business recorded in the same period of the previous year also contributed to operating income rising 32.2% year on year to ¥249 million.」

「In addition to higher revenue, gross profit increased as a result of improved gross margins, while the one-time expenses associated with Phase 4 Development in the commercial facilities business that had been recorded in the same period of the previous year were no longer incurred. As a result, operating income rose 603.2% year on year to ¥106 million.」

「In the consolidated cumulative third quarter, profit fell below the level of the same period of the previous year, mainly because one-time development costs related to Phase 4 Development at Santomoon Kakita River and syndicated-loan-related expenses were recorded.」

「After taking into account ¥22 million in syndicated loan fees and other non-operating expenses, ordinary income was ¥110 million, down 35.0% year on year.」

「Following the decision to carry out expansion and renovation work at the commercial facility Santomoon Kakita River, referred to below as “Phase 4 Development,” total cost of sales and selling, general and administrative expenses of ¥110 million, including higher depreciation expense, and total non-operating expenses of ¥84 million, including fees related to the syndicated loan for Phase 4 Development, were incurred.」

「Ordinary income also increased 43.9% year on year to ¥282 million, due in part to the absence of the one-time non-operating expenses incurred in the same quarter of the previous year and the recording of gains on the sale of idle real estate.」

「Ordinary income increased 32.6% year on year to ¥66 million, as the one-time non-operating expenses incurred in the same quarter of the previous year were no longer incurred.」

「Although initial costs associated with drawing down the syndicated loan increased, lower interest expense helped lift ordinary income to ¥267 million, up 257.8% year on year. After recording extraordinary losses including the loss on early termination of the borrowings associated with the syndicated loan, net income attributable to owners of the parent was ¥156 million.」

「Although the initial costs associated with drawing down the syndicated loan increased, lower interest expense resulted in ordinary income of ¥196 million, up 10.0% year on year. After taking into account extraordinary losses, including the loss on early termination of the borrowings associated with the syndicated loan, and income taxes, quarterly net income attributable to owners of the parent was ¥159 million, down 25.9% year on year.」

「Ordinary income was ¥93 million, down 26.2% year on year, due to higher initial costs associated with drawing down the syndicated loan. After taking into account extraordinary losses, including the loss on early termination of the borrowings associated with the syndicated loan, and income taxes, quarterly net income attributable to owners of the parent was ¥63 million, down 63.3% year on year.」

「However, quarterly net income attributable to owners of the parent fell 52.0% year on year to ¥31 million, reflecting the loss on early termination of the borrowings associated with the syndicated loan.」