Quarterly performance fluctuations due to the concentration of handovers in the fourth quarter
First written in FY2017-Q1. 22 of 30 entries say "Restated". Latest entry: FY2026.
Central General Development moved to the "Worse" side of this theme in 2017, 7 years before the typical company in this theme (2024).
The whole theme swung hardest in 2024: 6 of 29 companies on the "Worse" side.
24 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「In the group's principal real estate sales business, revenue is recognized based on handover of properties to customers. However, quarterly performance tends to fluctuate because the completion and handover dates, and therefore the revenue recognition dates, vary by property.」
The company reconfirmed the structure of quarterly performance volatility resulting from variations in property completion and handover timing and handover-based revenue recognition. - 2026-05-08MitigatedEarnings
「また、継続的に竣工・引渡し時期偏在の是正に取り組むとともに、期末までの販売期間を十分確保することによる業績の平準化」
引渡し時期の偏在による業績変動に対し、是正と業績平準化に継続的に取り組む方針を明示した。 - FY2026-H1Plan updated to 18 properties for the fiscal year, with 3 completed in the first halfAnnual report
「The company plans to complete and hand over 18 properties, mainly in regional areas, during the current consolidated fiscal year, comprising 15 properties in regional areas and 3 in the Tokyo metropolitan area. As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly depending on property completion timing.」
The full-year completion and handover plan was updated to 18 properties, of which 3 were completed in the first half. The structure of quarterly performance volatility due to property handover timing continues. - FY2025RestatedAnnual report
「In the group's principal real estate sales business, revenue is recognized based on handover of properties to customers. However, quarterly performance tends to fluctuate because the completion and handover dates, and therefore the revenue recognition dates, vary by property.」
The company reconfirmed the quarterly performance volatility resulting from handover-based revenue recognition and variations in completion and handover dates by property. - FY2025-H1RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly depending on property completion timing.」
The company reconfirmed the structure whereby quarterly performance fluctuates significantly because of property completion timing and handover-based revenue recognition. - FY2024-Q3RestatedAnnual report
「As a result, 8 of the 17 properties scheduled for completion and handover during the current consolidated fiscal year, comprising 13 properties in regional areas and 4 in the Tokyo metropolitan area, have been completed and handed over. The remaining 9 properties are scheduled for completion and handover in the fourth quarter consolidated accounting period.」
The company plans to hand over the remaining 9 of the 17 properties in the fourth quarter, providing a concrete continuation of the structure of quarterly performance volatility due to handover timing. - FY2024-Q2RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly depending on property completion timing.」
The company reconfirmed the structure whereby quarterly performance fluctuates significantly because of property completion timing and handover-based revenue recognition. - FY2024-Q1RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly depending on property completion timing.」
The company reconfirmed the structure whereby quarterly performance fluctuates significantly because of property completion timing and handover-based revenue recognition. - FY2023-Q3RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly depending on property completion timing.」
The company reconfirmed the quarterly performance volatility resulting from property completion timing and handover-based revenue recognition. - FY2023-Q2RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly depending on property completion timing.」
The company reconfirmed the quarterly performance volatility resulting from handover-based revenue recognition and variations in completion timing. - FY2022-Q3RestatedAnnual report
「In the real estate sales business, the company recognizes revenue based on handover of properties to customers. However, of the 14 properties planned for completion and handover during the current consolidated fiscal year, 10 are scheduled for completion and handover in the fourth quarter consolidated accounting period. Consequently, the results for the first three quarters of the current consolidated fiscal year were in the red, as described above.」
The company reconfirmed the structure whereby 10 of the 14 properties are concentrated in the fourth quarter, resulting in a loss for the first three quarters because revenue is recognized on a handover basis. - FY2022-Q2Update to 14 properties for the fiscal year, including 10 in the second halfAnnual report
「The company plans to complete and hand over 14 condominium properties, mainly in regional areas, during the current consolidated fiscal year, 10 of which are scheduled for handover in the second half,」
The full-year completion and handover plan was updated to 14 properties, 10 of which are concentrated in the second half. The structure of quarterly performance volatility due to handover timing continues. - FY2022-Q1RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly depending on property completion timing.」
The company reconfirmed the quarterly performance volatility resulting from handover-based revenue recognition and variations in completion timing. - FY2021-Q3AdvancedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
Of the 12 properties scheduled for completion and handover during the fiscal year, 10 are scheduled to be completed and handed over by the third quarter, making the handover progress more concrete. - FY2021-Q2ReframedAnnual report
「The company plans to complete and hand over 12 condominium properties during the current consolidated fiscal year, 10 of which are scheduled for handover in the second half,」
The description became more specific, shifting from a concentration in the fourth quarter to a concentration of 10 of the 12 properties in the second half. - FY2021-Q1RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
The company reconfirmed the structure whereby quarterly performance fluctuates significantly because revenue is recognized based on handover of properties. - FY2020RestatedAnnual report
「Quarterly performance tends to fluctuate because completion and handover dates, and therefore revenue recognition dates, vary by property.」
The company reconfirmed the quarterly performance volatility resulting from variations in handover timing and handover-based revenue recognition. - FY2020-Q3RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
The company reconfirmed the structure whereby quarterly performance fluctuates significantly because revenue is recognized based on handover of properties. - FY2020-Q2RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
The company reconfirmed the structure whereby quarterly performance fluctuates significantly because revenue is recognized based on handover of properties. - FY2020-Q1RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
The company reconfirmed the structure whereby quarterly performance fluctuates significantly because revenue is recognized based on handover of properties. - FY2019RestatedAnnual report
「In the group's principal real estate sales business, revenue is recognized based on handover of properties to customers. However, quarterly performance tends to fluctuate because the completion and handover dates, and therefore the revenue recognition dates, vary by property.」
The company reconfirmed the quarterly performance volatility resulting from handover-based revenue recognition and variations in completion and handover dates by property. - FY2019-Q3RestatedAnnual report
「As the company recognizes revenue based on handover of properties to customers, quarterly performance tends to fluctuate significantly, and this tendency will be particularly pronounced in the current consolidated fiscal year.」
The company reconfirmed the quarterly performance volatility resulting from handover-based revenue recognition and the concentration of handovers in the fourth quarter. - FY2019-Q2WorsenedAnnual report
「The company plans to complete and hand over 13 condominium properties during the current consolidated fiscal year, of which 9 are scheduled for the fourth quarter consolidated accounting period.」
The fact that 9 of the 13 full-year properties are concentrated in the fourth quarter was specified, making the factor driving quarterly performance volatility under handover-based revenue recognition more concrete. - FY2019-Q1RestatedAnnual report
「The company plans to complete and hand over 13 condominium properties in the current consolidated fiscal year, comprising 5 properties in the Tokyo metropolitan area and 8 in regional areas, most of them concentrated in the fourth quarter cumulative period. As revenue is recognized based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
The company reconfirmed the structure whereby most of the 13 properties are concentrated in the fourth quarter and quarterly performance fluctuates significantly because revenue is recognized on a handover basis. - FY2018RestatedAnnual report
「In the group's principal real estate sales business, revenue is recognized based on handover of properties to customers. However, quarterly performance tends to fluctuate because the completion and handover dates, and therefore the revenue recognition dates, vary by property.」
The company explicitly stated in its full-year report that quarterly performance fluctuates because completion and handover dates vary by property and revenue is recognized on a handover basis. - FY2018-Q3RestatedAnnual report
「The company plans to complete and hand over 13 condominium properties during the current consolidated fiscal year, including 6 properties in the fourth quarter consolidated accounting period, and will continue to focus on sales.」
The concentration of 6 of the 13 planned property completions and handovers in the fourth quarter continues, leaving quarterly performance volatility as a factor. - FY2018-Q2RestatedAnnual report
「The company plans to complete and hand over 13 condominium properties during the current consolidated fiscal year, but only 1 new property was completed and handed over during the second quarter cumulative period, with most concentrated from the third quarter consolidated accounting period onward. As revenue is recognized based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
Although 1 property had been handed over by the second quarter, most of the 13 properties are concentrated from the third quarter onward, and the structure of significant quarterly performance volatility continues. - FY2018-Q1WorsenedAnnual report
「The company plans to complete and hand over 13 condominium properties in the current consolidated fiscal year, comprising 3 properties in the Tokyo metropolitan area and 10 in regional areas. No properties were completed or handed over during the first quarter cumulative period, and most are concentrated from the third quarter cumulative period onward. As revenue is recognized based on handover of properties to customers, quarterly performance tends to fluctuate significantly.」
No properties were completed or handed over in the first quarter, while most planned properties are expected to be concentrated from the third quarter onward, making the volatility in quarterly performance more apparent. - FY2017-Q2RestatedAnnual report
「The company plans to complete and hand over 12 condominium properties in the current consolidated fiscal year, comprising 5 properties in the Tokyo metropolitan area and 7 in regional areas. As completion and handovers are concentrated in the fourth quarter, quarterly performance tends to fluctuate because revenue is recognized based on handover of properties to customers.」
The company reconfirmed the structure whereby quarterly performance fluctuates as full-year completion and handovers are concentrated in the fourth quarter, together with the plan for 12 properties. - FY2017-Q1First statedAnnual report
「As the completion and handover of condominiums in the current consolidated fiscal year are concentrated in the fourth quarter, quarterly performance tends to fluctuate because revenue is recognized based on handover of properties to customers.」
The company described the potential for quarterly performance to fluctuate because completion and handovers are seasonally concentrated and revenue is recognized on a handover basis.