Pressure on Profit from Higher Selling Expenses to Achieve Early Sell-Outs of Condominium Projects
First written in FY2017-Q1. 8 of 26 entries say "Restated". Latest entry: FY2027-H1.
STrust moved to the "Worse" side of this theme in 2026.
0 other companies' latest entry also says "Mitigated".
- FY2027-H1MitigatedAnnual report
「Advertising expenses 312 275 Commission fees 315 97 Salaries 217 233」
Advertising expenses decreased from ¥312 million in the same period of the previous year to ¥275 million, while commission fees decreased from ¥315 million to ¥97 million. Selling, general and administrative expenses also decreased from ¥1,359 million in the same period of the previous year to ¥1,116 million. - FY2026WorsenedAnnual report
「In the real estate development business, we delivered 404 condominiums, down 21 units from the previous fiscal year, and 68 detached houses, down 1 unit. Revenue increased as the pass-through of higher construction costs and other expenses progressed, but selling, general and administrative expenses, including advertising expenses and model-room expenses, also increased.」
Advertising expenses increased from ¥443 million to ¥572 million, and model-room expenses from ¥26 million to ¥99 million, while segment profit in the real estate development business declined 6.4%. - FY2026-H1WorsenedAnnual report
「Advertising expenses: ¥212 million, ¥312 million. Commission fees: ¥124 million, ¥315 million.」
Advertising expenses increased from ¥212 million in the same period of the previous year to ¥312 million, while commission fees increased from ¥124 million to ¥315 million. Selling, general and administrative expenses also increased from ¥918 million to ¥1,359 million. - FY2025MitigatedAnnual report
「Selling, general and administrative expenses, including model-room expenses, decreased.」
Selling, general and administrative expenses, including model-room expenses, decreased and contributed to the increase in operating profit. The cost burden associated with early sales eased during the year. - FY2025-H1MitigatedAnnual report
「SG&A expenses, including advertising expenses, decreased.」
Selling, general and administrative expenses decreased from ¥938 million in the previous interim consolidated accounting period to ¥918 million, while advertising expenses decreased from ¥261 million to ¥212 million. The trend of higher costs associated with sales promotion eased during the current interim consolidated accounting period. - FY2024-Q3RestatedAnnual report
「Selling, general and administrative expenses, including advertising expenses, increased.」
Higher selling, general and administrative expenses, including advertising expenses, continue to be mentioned. - FY2024-Q2WorsenedAnnual report
「SG&A expenses, including advertising expenses and salaries and allowances, increased.」
The increase in SG&A expenses, including advertising expenses and salaries and allowances, was again specifically mentioned, while segment profit in the real estate development business fell 90.7% year on year to ¥53 million. - FY2023MitigatedAnnual report
「However, as contract progress for the condominiums delivered during the fiscal year remained strong, costs related to sales promotion decreased.」
The report states that strong contract progress for condominiums resulted in lower sales promotion costs aimed at an early sellout. - FY2023-Q2MitigatedAnnual report
「SG&A expenses, including retirement benefits and commission fees, decreased.」
In contrast to the previously reported increase in selling expenses, including commission fees, SG&A expenses, including retirement benefits and commission fees, decreased during the cumulative second-quarter period. - FY2022DroppedAnnual report
「Operating profit for the fiscal year was ¥781 million, down ¥197 million from the previous fiscal year. The main factor behind the decline was higher selling, general and administrative expenses due to the recording of ¥300 million in directors' retirement allowances.」
For the full year, the main factor behind the decline in operating profit was explained as higher SG&A expenses due to the recording of ¥300 million in directors' retirement allowances, rather than selling expenses aimed at an early sellout. The previous theme was not specifically mentioned. - FY2022-Q3RestatedAnnual report
「In the real estate development business, we delivered 310 condominiums, up 28 units from the same period of the previous year, and 28 detached houses, down 7 units. Selling expenses, including commission fees, also increased.」
Higher selling expenses, including commission fees, continue to be mentioned. - FY2022-Q2RestatedAnnual report
「In the real estate development business, we delivered 271 condominiums, up 86 units from the same period of the previous year, and 16 detached houses, down 9 units. Selling expenses, including commission fees, also increased.」
Higher selling expenses, including commission fees, continue to be mentioned. Meanwhile, the development business generated a profit. - FY2022-Q1Higher SG&A expenses and return to operating profitabilityAnnual report
「Selling, general and administrative expenses 492 870 Operating profit or operating loss (△) △ 151 357」
Selling, general and administrative expenses increased from ¥492 million in the same period of the previous year to ¥870 million, while the company moved from an operating loss of ¥151 million to operating profit of ¥357 million. - FY2021RestatedAnnual report
「Selling, general and administrative expenses increased by ¥133 million from the previous fiscal year to ¥2,156 million. As commission fees increased by ¥114 million, operating profit increased by ¥258 million from the previous fiscal year to ¥979 million.」
Selling, general and administrative expenses and commission fees increased, but operating profit also increased. Higher selling expenses continue to be mentioned. - FY2021-Q3RestatedAnnual report
「Selling expenses, including commission fees, increased.」
Higher selling expenses, including commission fees, continue to be mentioned. - FY2021-Q2RestatedAnnual report
「Selling expenses, including commission fees, increased.」
Higher selling expenses continue to be mentioned. Selling, general and administrative expenses increased from ¥875 million in the same period of the previous year to ¥1,022 million, while operating profit returned to profitability. - FY2021-Q1WorsenedAnnual report
「Selling, general and administrative expenses 412 514 Operating profit or operating loss (△) 81 △ 151」
Selling, general and administrative expenses increased from ¥412 million in the same period of the previous year to ¥514 million, while operating profit turned from a profit of ¥81 million to a loss of ¥151 million. - FY2020WorsenedAnnual report
「Selling, general and administrative expenses increased by ¥227 million from the previous fiscal year to ¥2,022 million. As advertising expenses increased by ¥112 million and commission fees by ¥132 million, operating profit decreased by ¥691 million from the previous fiscal year to ¥720 million.」
Selling, general and administrative expenses increased by ¥227 million, and the full-year figures explicitly showed the relationship between higher advertising expenses and commission fees and the substantial decline in operating profit. - FY2020-Q3RestatedAnnual report
「Selling expenses, including advertising expenses, increased.」
Higher selling expenses continue to be mentioned. - FY2020-Q2Reappearance of higher selling expensesAnnual report
「Selling expenses, including advertising expenses, increased.」
The report again mentioned higher selling expenses. Advertising expenses increased from ¥150 million in the same period of the previous year to ¥227 million, while segment profit in the real estate development business fell 24.0% year on year. - FY2018DroppedAnnual report
「The main factor behind the increase was ¥34 million in advertising expenses.」
The report states that the factors behind the increase in selling, general and administrative expenses for the year included advertising expenses, but does not give the previously specific explanation that selling expenses increased to support an early condominium sellout. - FY2018-Q1RestatedAnnual report
「Selling expenses increased to support an early sellout of condominiums.」
Although it was not specifically mentioned in the previous report, higher selling expenses aimed at an early sellout of condominiums were mentioned again. - FY2017-Q2DroppedAnnual report
「Advertising expenses ¥107 million」
The body of the quarterly report contains no mention of higher selling expenses aimed at an early sellout of condominiums, while advertising expenses fell from ¥152 million in the same period of the previous year to ¥107 million. - FY2017-Q1First statedAnnual report
「In terms of expenses, selling expenses increased in connection with efforts to achieve early sell-outs of condominium projects.」
The increase in selling expenses to achieve early sell-outs is described as an actual change in expenses during the quarter.