Early establishment of an earnings base less susceptible to real estate market fluctuations
First written in FY2016. 22 of 28 entries say "Advanced", first in FY2017. Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 4 of 30 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2026-H1Continued acquisitions and sales amid declining rental incomeAnnual report
「During the current interim consolidated accounting period, in contrast to the previous fiscal year, the Group actively acquired and sold properties from the beginning of the period and recognized gains on the sale of multiple properties. In rental operations, although the Group continued acquiring new properties during the current interim consolidated accounting period, rental income declined year on year because income from properties sold in the previous fiscal year, which had contributed significantly through variable rental income, was no longer recognized.」
New acquisitions continued toward expanding the stable earnings base, but rental income declined year on year because rental income from properties sold in the previous fiscal year was no longer recognized. Meanwhile, gains on the sale of multiple properties were recorded. - FY2025AdvancedAnnual report
「In real estate investment, our top priority is to maximize the potential value of each property rather than settle for market-average yields.」
The policy of building an earnings base less susceptible to market conditions progressed into an operating model that draws out the potential value of individual properties and generates rental income and substantial gains on property sales. Operating profit in the investment banking business totaled ¥6,289 million. - FY2025-H1AdvancedAnnual report
「The Company implemented measures to improve the profitability of its rental real estate holdings, increasing rental income. As a result, revenue was ¥4,389 million, up 27.0% year on year, and operating profit was ¥1,277 million, up 19.0%.」
Measures to improve profitability toward establishing an earnings base less susceptible to conditions in the real estate sales market were reflected in higher rental income and increased revenue and profit in the investment banking business. - FY2024-Q2RestatedAnnual report
「The Group implemented measures to improve the profitability of its rental properties, and rental income increased, but」
The improvement in the profitability of rental properties held and the increase in rental income were reconfirmed as progress toward an earnings base less susceptible to conditions in the real estate sales market. - FY2024-Q1AdvancedAnnual report
「By pursuing these initiatives, we implemented measures to improve the profitability of our rental real estate holdings during the six months ended [the first quarter], increasing rental revenue. As a result, net sales were ¥1,500 million, up 10.7% from the same quarter of the previous year, and operating profit was ¥483 million, up 48.6%.」
With a view to establishing an earnings base less susceptible to conditions in the real estate sales market, the Group continued measures to improve the profitability of its rental properties, resulting in higher rental income and increased revenue and profit in the investment banking business. - FY2023-Q3AdvancedAnnual report
「The Company implemented measures to acquire high-quality rental real estate and improve the profitability of its holdings. At the end of the third quarter, the rental real estate portfolio reached ¥69,975 million on a book value basis, up 7.4% from the end of the previous consolidated fiscal year, and rental income also increased.」
With a view to establishing an earnings base less susceptible to real estate market conditions, the Group continued acquisitions and profitability improvement initiatives, and the portfolio increased 7.4% from the end of the previous fiscal year. - FY2023-Q2AdvancedAnnual report
「Amid this business environment, our Group leveraged its expertise in selecting and its track record in enhancing the value of real estate investment opportunities to work on sourcing investment opportunities with the potential to generate sufficient investment returns, and implemented measures to increase rental income from its rental real estate holdings. As a result of these activities, the book value of our Group’s rental real estate portfolio was ¥65,530 million, up 0.6% from the end of the previous consolidated fiscal year.」
With a view to establishing an earnings base less susceptible to real estate market conditions, the Group continued identifying investment opportunities and improving rental income, and the portfolio increased 0.6% from the end of the previous fiscal year. - FY2023-Q1AdvancedAnnual report
「The Company leveraged its track record in identifying real estate investment opportunities and enhancing their potential value to pursue the acquisition of rental real estate expected to generate sufficient investment returns, while implementing measures to increase rental income from its holdings. As a result, the Group’s rental real estate portfolio reached ¥66,388 million on a book value basis, up 1.9% from the end of the previous consolidated fiscal year.」
The Group continued acquisitions and measures to improve profitability with a view to establishing an earnings base less susceptible to real estate market conditions, bringing the portfolio to ¥66,388 million, up 1.9% from the end of the previous consolidated fiscal year. - FY2022-Q3AdvancedAnnual report
「As a result of these activities, the rental real estate portfolio reached ¥64,353 million on a book-value basis, up 3.9% from the end of the previous consolidated fiscal year, at the end of the third-quarter consolidated accounting period.」
With a view to establishing an earnings base less susceptible to real estate market conditions, the rental property portfolio recovered and expanded to ¥64,353 million, up 3.9% from the end of the previous fiscal year. - FY2022-Q2Temporary portfolio decline due to disposals preceding acquisitionsAnnual report
「During the six months ended [the second quarter], sales of rental real estate preceded new acquisitions, temporarily reducing the rental real estate portfolio to ¥59,404 million on a book-value basis, down 4.1% from the end of the previous consolidated fiscal year, at the end of the second-quarter consolidated accounting period.」
Although the policy of expanding the stable earnings base continued, sales preceded new acquisitions during the quarter, resulting in a 4.1% decline in the portfolio from the end of the previous fiscal year. - FY2022-Q1Temporary portfolio decline due to disposals preceding acquisitionsAnnual report
「The Group sold several rental properties and generated a substantial amount of sale proceeds, but as new rental property acquisitions were expected to begin in the second quarter or later, the rental property portfolio totaled ¥58,674 million on a book-value basis, down 5.3% from the end of the previous consolidated fiscal year.」
Although the policy of expanding the stable earnings base continued, property sales preceded new acquisitions during the quarter, resulting in a 5.3% decline in the portfolio from the end of the previous fiscal year. - FY2021-Q3AdvancedAnnual report
「Amid this business environment, the Group leveraged its track record in identifying and enhancing the value of real estate investment opportunities to acquire investments expected to generate sufficient returns, while implementing measures to increase rental income from its rental real estate holdings. As a result, the Group’s rental real estate portfolio reached ¥67,669 million on a book value basis, up 20.5% from the end of the previous consolidated fiscal year, and rental income from the portfolio reached a level exceeding the combined amount of the Group’s selling, general and administrative expenses and interest expense.」
With a view to establishing a stable earnings base, the Group continued acquiring investment properties and implementing measures to improve rental income. The rental property portfolio totaled ¥67.669 billion, up 20.5% from the end of the previous consolidated fiscal year. Rental income also remained above the combined total of SG&A expenses and interest expense. - FY2021-Q2AdvancedAnnual report
「As a result of these activities, our group's rental real estate portfolio reached ¥57,955 million on a book-value basis, up 3.2% from the end of the previous consolidated fiscal year, and rental revenue from the portfolio exceeded the combined total of our group's selling, general and administrative expenses and interest expense.」
With a view to establishing an earnings base less susceptible to real estate market conditions, the rental property portfolio increased 3.2% from the end of the previous consolidated fiscal year, and rental income remained above the combined total of SG&A expenses and interest expense. - FY2021-Q1AdvancedAnnual report
「As a result of these activities, our group's rental real estate portfolio reached ¥57,744 million on a book-value basis, up 2.8% from the end of the previous consolidated fiscal year, and rental revenue from the portfolio exceeded the combined total of our group's selling, general and administrative expenses and interest expense.」
With a view to establishing a stable earnings base, the rental property portfolio increased 2.8% from the end of the previous fiscal year, and rental income remained above the combined total of SG&A expenses and interest expense. - FY2020AdvancedAnnual report
「On a monthly basis at the end of the current consolidated fiscal year, rental income from the portfolio reached a level exceeding the combined total of selling, general and administrative expenses and interest expense.」
Regarding the earnings base less susceptible to real estate market conditions, rental income advanced from a level covering a certain portion of SG&A expenses to a level exceeding the combined total of SG&A expenses and interest expense. - FY2020-Q3AdvancedAnnual report
「On a recent monthly basis, rental income from the portfolio reached a level exceeding the combined total of selling, general and administrative expenses and interest expense.」
Progress was indicated in the earnings base less susceptible to real estate market conditions, with rental income advancing from a level covering a certain portion of SG&A expenses to a level exceeding the combined total of SG&A expenses and interest expense. - FY2020-Q2AdvancedAnnual report
「As a result of these activities, our group's rental real estate portfolio reached ¥56,250.021 million on a book-value basis, up 26.9% from the end of the previous consolidated fiscal year, and rental revenue from rental real estate remained above our group's selling, general and administrative expenses.」
With a view to establishing an earnings base less susceptible to real estate market conditions, the rental property portfolio increased 26.9% from the end of the previous fiscal year, and rental income remained above SG&A expenses. - FY2020-Q1AdvancedAnnual report
「The Group’s rental property portfolio totaled ¥48,071,163 thousand on a book-value basis, up 8.4% from the end of the previous consolidated fiscal year, while rental income from the properties remained above the Group’s selling, general and administrative expenses.」
With a view to establishing a stable earnings base less susceptible to conditions in the real estate sales market, the rental property portfolio increased 8.4% from the end of the previous fiscal year, and rental income remained above selling, general and administrative expenses. - FY2019AdvancedAnnual report
「To establish an earnings base less susceptible to conditions in the real estate sales market, the Group has been actively acquiring, with its own funds in its investment banking business, high-quality rental properties expected to generate stable earnings over the medium to long term, and expanding them into a portfolio comprising multiple properties. Unlike the real estate sales market, fluctuations in the rental market are relatively small, so rental income from these properties provides the Group with stable earnings and has already reached a level capable of covering a certain portion of the Group’s selling, general and administrative expenses.」
The explanation that rental income from the acquisition of rental properties using the Group’s own funds and the expansion of its portfolio had reached a level capable of covering a certain portion of SG&A expenses was maintained for the full year. - FY2019-Q3AdvancedAnnual report
「As a result, our group's rental real estate portfolio reached ¥48,600.082 million on a book-value basis, up 42.9% from the end of the previous consolidated fiscal year, and rental revenue, a source of stable revenue, also increased significantly.」
The rental real estate portfolio aimed at establishing a stable earnings base reached ¥48,600.82 million, up 42.9% from the end of the previous fiscal year, and rental income also increased significantly. - FY2019-Q2AdvancedAnnual report
「Against this business backdrop, the Group expanded its rental real estate portfolio by using its expertise in selecting real estate investment projects and its track record in value enhancement to acquire projects offering sufficient investment returns, while increasing the stable income, namely rental income, generated by its rental real estate holdings. As a result, the Group’s rental real estate portfolio reached ¥50,290.190 million on a carrying value basis, up 47.8% from the end of the previous consolidated fiscal year, and stable rental income also increased significantly.」
To establish a stable earnings base, the Group advanced the acquisition of investment projects and improved the profitability of rental real estate, expanding the portfolio to ¥50,290.19 million. This represented a 47.8% increase from the end of the previous fiscal year, indicating concrete progress. - FY2019-Q1RestatedAnnual report
「We enhanced the value of our rental real estate holdings and worked to improve stable revenue, including rental income.」
The direction of securing stable earnings less susceptible to real estate transaction market conditions through value enhancement of rental real estate was reaffirmed. - FY2017AdvancedAnnual report
「To establish an earnings base less susceptible to real estate transaction market conditions, the Group has been actively acquiring, using its own funds in its investment banking business, high-quality rental real estate and other properties expected to maintain high occupancy rates over the medium to long term, and will continue to do so. Unlike the real estate transaction market, fluctuations in the rental real estate market are relatively small, making rental income from these properties a stable source of earnings for the Group. It has already reached a level at which rental income can cover a certain portion of the Group’s selling, general and administrative expenses.」
Progress was reported in the continued acquisition of rental real estate using the Group’s own funds, with rental income reaching a level capable of covering a certain portion of selling, general and administrative expenses. - FY2016First statedAnnual report
「With a view to further stabilizing its management foundation and achieving sustained growth, the Group plans to use its own funds to establish at an early stage an earnings base less susceptible to real estate market conditions, while expanding its business over the medium to long term into fields where it can capitalize on the Group’s strengths.」
The Group stated its goal of using its own funds to establish at an early stage an earnings base less susceptible to the effects of real estate market conditions.