Upfront cost burden associated with expanding units under management
First written in FY2017-Q1. 8 of 17 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2020: 6 of 21 companies on the "Worse" side.
9 other companies' latest entry also says "Other".
- FY2026Profit growth in the core business absorbs the investment burden of rental brokerageAnnual report
「In the Rental DX rental brokerage business, investments in sales personnel and DX initiatives and higher advertising and promotional expenses increased costs, but higher revenue, driven by the corporate division and increased customer acquisition resulting from DX, absorbed the higher costs. Profit increased by ¥24.194 million from the previous fiscal year to ¥78.903 million.」
Although investments in personnel, DX and advertising continued, increased customer acquisition through the corporate division and DX absorbed the higher costs, resulting in higher earnings in the rental brokerage business. - FY2025Rental brokerage earnings increased after absorbing the investment burden.Annual report
「In the Rental DX rental brokerage business, investments in sales personnel and DX initiatives and higher advertising and promotional expenses increased costs, but higher revenue, driven by the corporate division and increased customer acquisition resulting from DX, absorbed the higher costs. Profit increased by ¥41.089 million from the previous fiscal year to ¥54.708 million.」
Although the investment burden related to sales personnel, DX initiatives and advertising continued, increased customer acquisition absorbed the higher costs, resulting in higher earnings in the rental brokerage business. - FY2024Full-year update: lower rental brokerage earnings due to investments in personnel and stores.Annual report
「In the Rental DX rental brokerage business, revenue increased due to DX initiatives and higher staffing ahead of the busy season, while operating profit declined because of investments in personnel and new store openings, which increased by 3 stores year on year, among other factors.」
Revenue increased through higher headcount, personnel development and new store openings, while the investment burden reduced profit in the rental brokerage business. - FY2024-Q3Updated: lower rental brokerage earnings due to investments in personnel and stores.Annual report
「As these measures, increased staffing for the peak season and personnel development proved effective, revenue increased. However, segment profit declined due to investments in personnel, store openings (up 2 stores year on year) and other factors.」
In the rental brokerage business, revenue increased due to higher headcount and personnel development, while investments in personnel and new store openings reduced segment profit. - FY2024-Q2Investments in personnel, new store openings and other areas continued to drive the widening loss in the rental brokerage business.Annual report
「As these measures, the 46-person year-on-year increase in staffing for the peak season and personnel development proved effective, revenue increased. However, segment loss widened due to investments in personnel, store openings (up 2 stores year on year) and other areas.」
Revenue increased due to higher headcount and personnel development, while investments in personnel and new store openings contributed to the widening loss in the rental brokerage business. - FY2024-Q1Personnel, DX investment and advertising expenses in rental brokerage continue to weigh on profitAnnual report
「Although revenue increased as a result of these initiatives and an increase in personnel ahead of the busy season, segment losses widened due to higher investment in personnel and DX initiatives, higher advertising expenses and other factors.」
In the rental brokerage business, revenue increased as headcount grew, but the operating loss widened from ¥41.821 million in the same period of the previous year to ¥52.997 million due to increased investments in personnel and DX, as well as higher advertising and promotional expenses. - FY2023Investment and advertising expenses in rental brokerage weigh on profit, while recruitment costs decline in the management businessAnnual report
「In the core rental DX property management business, profit increased by ¥426,725 thousand from the previous consolidated fiscal year to ¥1,466,011 thousand, resulting in substantial profit growth, due to an increase in units under management and lower recruitment costs. In the rental DX rental brokerage business, profit declined by ¥70,818 thousand to ¥28,831 thousand, resulting in lower profit, due to investment in sales personnel and DX initiatives, higher advertising expenses and other factors.」
Regarding the cost structure associated with business expansion, lower recruitment costs were a factor behind profit growth in the management business, while sales personnel, DX investment and advertising expenses weighed on profit in rental brokerage. - FY2022Recruitment costs and DX investment continue to weigh on profitAnnual report
「The main factor was that profit in the core rental DX property management business declined by ¥81,010 thousand from the previous consolidated fiscal year to ¥1,039,286 thousand, due to higher recruitment costs and investment in the DX business, resulting in lower profit.」
Discloses recruitment costs and DX investment associated with expanding units under management and maintaining occupancy as part of the cost structure weighing on profit in the core business. - FY2019-Q3RestatedAnnual report
「However, in preparation for the peak season (the new school year and employment season), cost of sales increased as we secured a greater number of properties under management, while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Reiterates the cost structure under which securing units under management ahead of the busy season leads to upfront increases in selling, general and administrative expenses associated with cost of sales, management personnel and investment in management systems. - FY2019-Q2RestatedAnnual report
「Cost of sales increased as we secured a greater number of properties under management for the peak season (the new school year and employment season), while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Reiterates the cost structure under which securing units under management ahead of the busy season leads to upfront increases in selling, general and administrative expenses associated with cost of sales, management personnel and system investment. - FY2018-Q3RestatedAnnual report
「Cost of sales increased as we secured a greater number of properties under management for the peak season (the new school year and employment season), while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Reiterates the cost structure under which securing units under management ahead of the busy season leads to upfront increases in selling, general and administrative expenses associated with cost of sales, management personnel and system investment. - FY2018-Q2RestatedAnnual report
「Cost of sales increased as we secured a greater number of properties under management for the peak season (the new school year and employment season), while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Reiterates the structure under which securing units under management ahead of the busy season leads to upfront increases in cost of sales, management personnel expenses and selling, general and administrative expenses associated with system investment. - FY2018-Q1RestatedAnnual report
「Cost of sales increased as we secured a greater number of properties under management for the peak season (the new school year and employment season), while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Reiterates the structure under which securing units under management ahead of the busy season leads to upfront increases in cost of sales, management personnel expenses and selling, general and administrative expenses associated with system investment. - FY2017RestatedAnnual report
「The main factors were an increase in occupied units as the number of properties managed by the Company increased, and steady progress in the sale of properties held in the investment business.」
Describes the full-year cost structure associated with business expansion, including higher sublease costs as units under management increased and higher cost of sales in the investment business. - FY2017-Q3RestatedAnnual report
「Cost of sales increased as we secured a greater number of properties under management for the peak season (the new school year and employment season), while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Reiterates the structure of upfront cost increases in cost of sales, management personnel and management system investment associated with securing units under management. - FY2017-Q2RestatedAnnual report
「Cost of sales increased as we secured a greater number of properties under management for the peak season (the new school year and employment season), while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Reiterates the structure of upfront cost increases in cost of sales, management personnel and management system investment associated with securing units under management. - FY2017-Q1First statedAnnual report
「Cost of sales increased as we secured a greater number of properties under management for the peak season (the new school year and employment season), while selling, general and administrative expenses increased due to higher management staffing levels and investment in management systems for the future.」
Shows a cost structure in which securing units under management ahead of the busy season led to higher cost of sales, management personnel expenses and selling, general and administrative expenses associated with investment in management systems.