The two core businesses of investment management and investment banking
First written in FY2016-Q2. 4 of 32 entries say "Restated". Latest entry: FY2026-H1.
No other company in this theme has enough history to compare yet.
- FY2026-H1Significant revenue and profit growth across three businessesAnnual report
「Our group currently has three core revenue businesses: investment management, investment banking and facility operations. By pursuing these businesses, we recorded net sales of ¥10,499 million, up 95.3% year on year, operating profit of ¥2,735 million, up 240.8%, ordinary profit of ¥2,334 million, up 573.3%, and interim net profit attributable to owners of the parent of ¥2,437 million, up 988.3%, for the interim consolidated accounting period.」
The structure centered on the three revenue businesses of investment management, investment banking and facility operations was maintained, and revenue and profit increased significantly in the interim period. - FY2025Significant revenue and profit growth under the three-business structureAnnual report
「Our group currently has three core revenue businesses: investment management, investment banking and facility operations. By pursuing these businesses, we recorded net sales of ¥19,063 million, up 13.0% year on year, operating profit of ¥5,295 million, up 86.6%, ordinary profit of ¥4,433 million, up 102.1%, and net profit attributable to owners of the parent of ¥1,749 million, up 23.5%, for the consolidated fiscal year.」
The structure centered on the three revenue businesses of investment management, investment banking and facility operations was maintained. For the full year, revenue increased, as did operating profit, ordinary profit and net profit attributable to owners of the parent. - FY2025-H1Under the three-business structure, revenue and operating profit increased, ordinary profit declined and net profit increasedAnnual report
「Our group currently has three core revenue businesses: investment management, investment banking and facility operations. By pursuing these businesses, we recorded net sales of ¥5,377 million, up 23.1% year on year, operating profit of ¥802 million, up 33.1%, ordinary profit of ¥346 million, down 8.3%, and interim net profit attributable to owners of the parent of ¥223 million, up 24.8%, for the interim consolidated accounting period.」
The structure centered on the three revenue businesses of investment management, investment banking and facility operations was maintained. For the interim period, net sales, operating profit and interim net profit attributable to owners of the parent increased, while ordinary profit declined. - FY2024-Q2Significant declines in revenue and profit, with a narrower facility operations loss under the three-business structureAnnual report
「For the six months ended [the second quarter], net sales were ¥4,368 million, down 63.6% from the same period of the previous year, operating profit was ¥603 million, down 80.3%, ordinary profit was ¥377 million, down 86.1%, and net profit attributable to owners of the parent was ¥179 million, down 91.9%.」
The structure centered on the three revenue businesses of investment management, investment banking and facility operations was maintained. Investment management generated net sales of ¥100 million and operating profit of ¥56 million, while investment banking generated net sales of ¥3,455 million and operating profit of ¥1,073 million, both representing significant year-on-year declines in revenue and profit. Meanwhile, facility operations generated net sales of ¥879 million and an operating loss of ¥33 million, narrowing the loss from ¥129 million in the same period of the previous year. - FY2024-Q1Under the three-business structure, investment banking profit increased and the facility operations loss narrowed, while investment management revenue and profit declinedAnnual report
「Our group currently has three core revenue businesses: investment management, investment banking and facility operations. In the core investment banking business, our basic strategy is to expand our rental real estate portfolio against the backdrop of a strong domestic real estate market. We are also pursuing the facility operations business as a new core revenue stream, supported by the lodging and tourism market, one of Japan's growth industries.」
The structure centered on the three revenue businesses of investment management, investment banking and facility operations was maintained. Investment management revenue and profit declined, investment banking revenue and profit increased, and facility operations revenue increased while its operating loss narrowed. - FY2023-Q3Continued revenue growth and a narrower loss under the three-business structureAnnual report
「(Facility Operations Business) In the facility operations business, covering hotels, inns and other facilities, net sales increased to ¥1,142 million, up 68.8% year on year, due mainly to the acquisition of new facilities and the recovery in tourism demand. However, operating loss was ¥177 million, compared with a loss of ¥347 million in the same quarter of the previous year, owing in part to expenses including amortization of goodwill and higher operating costs.」
The three-business structure of investment management, investment banking and facility operations continued. Revenue in the facility operations business increased, and the operating loss also narrowed from the same period of the previous year. - FY2023-Q2Continued revenue growth and a narrower loss in the facility operations businessAnnual report
「In the facility operations business, covering hotels, inns and other facilities, net sales increased to ¥774 million, up 101.0% year on year, due mainly to the acquisition of new facilities and the recovery in tourism demand. However, operating loss was ¥129 million, compared with a loss of ¥265 million in the same quarter of the previous year, owing in part to expenses including amortization of goodwill.」
Under the three-business structure, revenue in the facility operations business increased on the acquisition of new facilities and the recovery in tourism demand, while the operating loss narrowed from ¥265 million in the same period of the previous year to ¥129 million. - FY2023-Q1Higher revenue and a narrower loss in the facility operations businessAnnual report
「In the facility operations business, covering hotels, inns and other facilities, net sales increased to ¥361 million, up 88.9% year on year, due mainly to the acquisition of new facilities and the recovery in tourism demand. However, operating loss was ¥87 million, compared with a loss of ¥127 million in the same quarter of the previous year, owing in part to expenses including amortization of goodwill.」
Under the three-business structure, revenue in the facility operations business increased on the acquisition of new facilities and the recovery in tourism demand, while the operating loss narrowed from ¥127 million in the same period of the previous year to ¥87 million. - FY2022-Q3Facility operations business reports a loss under the three-business structureAnnual report
「(Facility Operations Business) In the facility operations business, net sales were ¥676 million and operating loss was ¥347 million, due mainly to advisory fees incurred in connection with the acquisition of shares in a hotel operator and sluggish lodging demand resulting from the COVID-19 pandemic.」
With the three-business structure of investment management, investment banking and facility operations continuing, the facility operations business posted an operating loss of ¥347 million due to advisory fees and sluggish lodging demand. - FY2022-Q2The establishment of facility operations as an independent segment and transition to a three-business structureAnnual report
「Beginning with the first half of the current fiscal year, the previously Other-category facility operations business has been presented as a newly independent reportable segment because its quantitative significance has increased.」
In addition to the previous structure centered on the investment management and investment banking businesses, facility operations became an independent reportable segment as its quantitative significance increased. - FY2022-Q1Higher revenue and profit in the investment banking business and lower revenue but higher profit in the investment management businessAnnual report
「(Investment Management Business) In the investment management business, although fees related to real estate management and operations declined from the same quarter of the previous year, revenue was ¥238 million, down 5.6% year on year, and operating profit was ¥25 million, up 57.3%, partly due to lower outsourcing costs. (Investment Banking Business) In the investment banking business, the sale of multiple rental properties resulted in sale values and gains exceeding those in the same quarter of the previous year. Revenue was ¥5,894 million, up 190.3% year on year, and operating profit was ¥1,456 million, up 275.0%.」
The two pillars were maintained. The investment management business reported lower revenue due to reduced fees but higher profit due to lower outsourcing costs, while the investment banking business reported higher revenue and profit due to the sale of multiple properties. - FY2021-Q3Higher revenue and lower profit in the investment management business and higher revenue and profit in the investment banking businessAnnual report
「(Investment Management Business) In the investment management business, fees related to real estate management and operations increased from the same cumulative period of the previous year, but temporary fees related to acquisitions and sales declined. Revenue was ¥842 million, up 189.1% year on year, and operating profit was ¥155 million, down 17.2%. (Investment Banking Business) In the investment banking business, the rental property portfolio expanded, increasing rental income, and both property sale values and gains increased. Revenue was ¥14,923 million, up 52.1% year on year, and operating profit was ¥3,638 million, up 51.8%.」
The two pillars have been maintained. The investment management business reported higher revenue due to increased real estate management and operating fees, but lower profit due to a decline in temporary fees. The investment banking business reported higher revenue and profit due to increased rental income and property sales. - FY2021-Q2Higher revenue and profit in both businesses and expansion of the Other segmentAnnual report
「(Investment Management Business) In the investment management business, revenue was ¥590 million, up 303.9% year on year, and operating profit was ¥125 million, up 55.1%, mainly because fees related to real estate management and operations increased from the same quarter of the previous year. (Investment Banking Business) In the investment banking business, revenue was ¥13,551 million, up 613.0% year on year, and operating profit was ¥3,210 million, up 533.3%, as the rental property portfolio expanded, increasing rental income, and both property sale values and gains increased.」
Both the investment management and investment banking businesses reported higher revenue and profit. Real estate management and operating fees contributed to the investment management business, while rental income and property sales contributed to the investment banking business. The Other category was also presented, maintaining the business structure shown in the segment information. - FY2021-Q1Higher revenue and profit in both businesses and presentation of the Other segmentAnnual report
「(Investment Management Business) In the investment management business, revenue was ¥253 million, up 618.1% year on year, and operating profit was ¥15 million, up 359.6%, mainly because fees related to real estate management and operations increased from the same quarter of the previous year. (Investment Banking Business) In the investment banking business, revenue was ¥2,030 million, up 124.1% year on year, and operating profit was ¥388 million, up 68.1%, as the rental property portfolio expanded, increasing rental income, and some properties were sold.」
The investment management business reported higher revenue and profit due to increased real estate management and operating fees, while the investment banking business also reported higher revenue and profit due to increased rental income and the sale of some properties. In addition to the two pillars reported through the previous year, the segment information also presented an Other category, consisting mainly of administrative outsourcing services. - FY2020Higher revenue and profit in the investment management business and lower revenue and profit in the investment banking businessAnnual report
「In the investment management business, newly contracted asset management mandates significantly increased asset management fees, resulting in revenue of ¥657 million, up 261.6% year on year, and operating profit of ¥328 million, up 430.6%. In the investment banking business, the rental property portfolio was steadily expanded and rental income increased year on year. Although the company also advanced the sale of some rental properties to rebalance the portfolio, both sale value and gains were lower than in the previous fiscal year because transactions took longer to execute than before. Consequently, revenue was ¥14,945 million, down 24.3% year on year, and operating profit was ¥3,081 million, down 27.5%.」
The two pillars have been maintained. The investment management business reported substantial revenue and profit growth due to higher fees from new mandates, while the investment banking business reported lower revenue and profit because property sales took longer to complete despite higher rental income. - FY2020-Q3Both businesses posted higher revenue and profitAnnual report
「(Investment Management Business) In the investment management business, newly contracted asset management mandates increased asset management fees, resulting in revenue of ¥291 million, up 98.7% year on year, and operating profit of ¥187 million, up 259.3%. (Investment Banking Business) In the investment banking business, the rental property portfolio was steadily expanded, increasing rental income, and some properties were sold as part of the portfolio rebalancing. Revenue was ¥9,809 million, up 6.1% year on year, and operating profit was ¥2,396 million, up 32.7%.」
The two pillars have been maintained. The investment management business reported higher revenue and profit due to increased fees from new mandates, while the investment banking business also reported higher revenue and profit due to increased rental income and the sale of some properties. - FY2020-Q2Continued higher revenue and profit in the investment management business and lower revenue and profit in the investment banking businessAnnual report
「In the investment management business, newly contracted asset management mandates increased asset management fees, resulting in revenue of ¥146,325 thousand, up 32.0% year on year, and operating profit of ¥80,972 thousand, up 66.2%. In the investment banking business, limited rental property sales resulted in revenue of ¥1,900,477 thousand, down 52.6% year on year, and operating profit of ¥507,019 thousand, down 32.0%.」
The investment management business reported higher revenue and profit due to increased fees from new mandates, while the investment banking business reported lower revenue and profit due to limited rental property sales. - FY2020-Q1Higher revenue and profit in the investment management business and lower revenue and profit in the investment banking businessAnnual report
「(Investment Management Business) In the investment management business, revenue was ¥35,245 thousand, up 22.5% year on year, and operating profit was ¥3,479 thousand, up 684.0%, mainly because asset management fees increased from the same quarter of the previous year. (Investment Banking Business) In the investment banking business, no rental properties were sold as part of portfolio rebalancing, so there were no sale proceeds or gains from sales. Revenue was ¥905,967 thousand, down 72.5% year on year, and operating profit was ¥231,059 thousand, down 65.8%.」
The two pillars have been maintained. The investment management business reported higher revenue and profit due to increased asset management fees, while the investment banking business reported lower revenue and profit because no properties were sold. - FY2019Higher revenue and profit in the investment management business and lower revenue and profit in the investment banking businessAnnual report
「In the investment management business, newly contracted asset management mandates increased asset management fees, resulting in revenue of ¥181,840 thousand, up 52.2% year on year, and operating profit of ¥61,914 thousand, up 67.7%. In the investment banking business, the rental property portfolio was steadily expanded and rental income from it increased significantly year on year. Although property sales associated with portfolio rebalancing were completed largely in line with the initial expectations, the sales plan was conservative, resulting in lower sale proceeds and gains than in the previous fiscal year. Consequently, revenue was ¥19,744,298 thousand, down 9.5% year on year, and operating profit was ¥4,248,779 thousand, down 27.5%.」
The two pillars were maintained, but for the full year, the investment management business reported higher revenue and profit, while the investment banking business reported lower revenue and profit because the increase in rental income was more than offset by declines in property sale proceeds and gains. - FY2019-Q3Continued higher revenue and profit in the investment management business and lower revenue and profit in the investment banking businessAnnual report
「(Investment Management Business) In the investment management business, newly contracted asset management mandates increased upfront fees, resulting in revenue of ¥146,648 thousand, up 63.0% year on year, and operating profit of ¥52,146 thousand, up 109.0%. (Investment Banking Business) In the investment banking business, lower proceeds from the sale of rental properties resulted in revenue of ¥9,248,622 thousand, down 43.3% year on year, and operating profit of ¥1,805,935 thousand, down 50.4%.」
The two pillars have been maintained. The investment management business reported higher revenue and profit due to increased upfront fees from new mandates, while the investment banking business reported lower revenue and profit due to reduced proceeds from rental property sales. - FY2019-Q2Higher revenue and profit in the investment management business and lower revenue and profit in the investment banking businessAnnual report
「In the investment management business, newly contracted asset management mandates increased upfront fees, resulting in revenue of ¥110,882 thousand, up 78.0% year on year, and operating profit of ¥48,716 thousand, up 116.8%. In the investment banking business, lower proceeds from the sale of proprietary investments, including rental properties, resulted in revenue of ¥4,013,563 thousand, down 71.5% year on year, and operating profit of ¥745,967 thousand, down 78.0%.」
The two pillars have been maintained, but the investment management business reported higher revenue and profit on new asset management mandates, while the investment banking business reported lower revenue and profit due to reduced proceeds from the sale of proprietary investments. - FY2019-Q1Lower revenue and profit in the investment management business and higher revenue and profit in the investment banking businessAnnual report
「(Investment Management Business) In the investment management business, revenue was ¥28,770 thousand, down 10.0% year on year, and operating profit was ¥443 thousand, down 97.2%, mainly because the upfront fee from a newly contracted asset management mandate recognized in the same quarter of the previous year was absent in the first quarter of the current fiscal year. (Investment Banking Business) In the investment banking business, revenue was ¥3,300,206 thousand, up 133.6% year on year, and operating profit was ¥676,326 thousand, up 10.4%, mainly because proceeds from the sale of proprietary investments, including rental properties, increased from the same period of the previous year.」
The two pillars have been maintained, but the investment management business reported lower revenue and profit due to the reversal of the previous year's upfront fee, while the investment banking business reported higher revenue and profit on increased proceeds from the sale of proprietary investments. - FY2018-Q3Continued revenue and profit growth in both businessesAnnual report
「(Investment Management Business) In the investment management business, revenue was ¥89,986 thousand, up 95.4% year on year, and operating profit was ¥24,945 thousand, up 3,127.9%, mainly because newly contracted asset management mandates increased asset management fees. (Investment Banking Business) In the investment banking business, revenue was ¥16,297,999 thousand, up 53.1% year on year, and operating profit was ¥3,637,933 thousand, up 53.4%, mainly because proceeds from the sale of proprietary investments, including rental properties, increased significantly from the same period of the previous year.」
The investment management business reported higher revenue and profit as fees increased through new mandates, while the investment banking business continued to report higher revenue and profit due to increased proceeds from the sale of proprietary investments. - FY2018-Q2Both businesses posted higher revenue and profitAnnual report
「(Investment Management Business) In the investment management business, revenue was ¥62,286 thousand, up 87.6% year on year, and operating profit was ¥22,467 thousand, up 3,678.9%, mainly because newly contracted asset management mandates increased asset management fees. (Investment Banking Business) In the investment banking business, revenue was ¥14,103,588 thousand, up 40.2% year on year, and operating profit was ¥3,398,007 thousand, up 56.7%, mainly because proceeds from the sale of proprietary investments, including rental properties, increased significantly from the same period of the previous year.」
The investment management business reported higher revenue and profit as fees increased through new mandates, while the investment banking business also reported higher revenue and profit due to increased proceeds from the sale of rental properties and other assets. - FY2018-Q1Recovery in the investment management business and higher profit in the investment banking businessAnnual report
「(Investment Management Business) In the investment management business, revenue was ¥31,957 thousand, up 62.8% year on year, and operating profit was ¥15,876 thousand, up 1,218.2%, mainly because newly contracted asset management mandates increased asset management fees. (Investment Banking Business) In the investment banking business, although the value of rental property sales declined, revenue was ¥1,412,812 thousand, down 33.5% year on year, and operating profit was ¥612,549 thousand, up 89.0%, because gains on sales increased and rental income from the rental property portfolio also contributed.」
The two pillars have been maintained. The investment management business reported higher revenue and profit on new mandates, while the investment banking business reported higher operating profit from gains on sales and rental income despite lower revenue. - FY2017WorsenedAnnual report
「(Investment Management Business) In the investment management business, relatively large properties, which are the funds' main investment targets, face more intense acquisition competition and a more overheated transaction environment than the small and medium-sized properties acquired by the group through proprietary investments. Accordingly, the company refrained from new acquisitions, while the termination of asset management agreements for existing investments caused assets under management to decline temporarily to zero. (Investment Banking Business) In the investment banking business, the company expanded stable revenue by acquiring rental properties expected to generate stable medium- to long-term returns, expanded a portfolio comprising multiple properties, and sold some rental properties whose value enhancement had been completed in order to rebalance the portfolio.」
The two pillars have been maintained. Assets under management in the investment management business temporarily fell to zero, reducing revenue to ¥59,683 thousand and operating profit to ¥7,545 thousand. Meanwhile, revenue in the investment banking business expanded to ¥18,756,182 thousand and operating profit to ¥4,073,480 thousand. - FY2017-Q3WorsenedAnnual report
「(Investment Management Business) In the investment management business, relatively large properties, which are the funds' main investment targets, face more intense acquisition competition and a more overheated transaction environment than the small and medium-sized properties acquired by the group through proprietary investments. Accordingly, the company refrained from new acquisitions, while the termination of asset management agreements for existing investments caused assets under management to decline temporarily to zero. (Investment Banking Business) In the investment banking business, stable revenue expanded as the company accumulated proprietary investments in rental properties, but revenue was ¥10,643,565 thousand, up 3.3% year on year, and operating profit was ¥2,371,231 thousand, down 15.8%, because gains on the sale of investment properties were limited.」
The two pillars have been maintained, but the contraction of the investment management business became more pronounced. The business refrained from new acquisitions amid overheated acquisition competition, causing assets under management to temporarily fall to zero and revenue and operating profit to decline significantly. In contrast, stable revenue in the investment banking business expanded through the accumulation of proprietary investments, although operating profit fell 15.8% year on year due to lower gains on sales. - FY2017-Q2RestatedAnnual report
「(Investment Management Business) In the investment management business, although the company recorded asset management fees from existing investments, assets under management declined following the termination of asset management agreements. (Investment Banking Business) In the investment banking business, rental income from proprietary investments, including rental properties, increased, and proceeds from the sale of proprietary investments, including rental properties, contributed,」
The two pillars of investment management and investment banking have been maintained. Revenue in the investment management business fell 78.0% year on year due to the decline in assets under management, while the investment banking business reported higher revenue and profit, supported by increased rental income and sale proceeds. - FY2017-Q1RestatedAnnual report
「(Investment Management Business) In the investment management business, although the company recorded asset management fees from existing investments, assets under management declined following the termination of some asset management agreements. (Investment Banking Business) In the investment banking business, holdings of proprietary investments, including rental properties, grew steadily and rental income increased, but gains on the sale of proprietary investments, including rental properties, were limited,」
The two pillars of investment management and investment banking have been maintained. Assets under management declined in the investment management business, while holdings of proprietary investments and rental income expanded in the investment banking business. - FY2016RestatedAnnual report
「(Investment Management Business) In the investment management business, although the company recorded asset management fees from existing investments, disposition fees from investment sales and incentive fees, revenue was ¥1,212,915 thousand, down 54.5% year on year, and operating profit was ¥904,533 thousand, down 58.7%, due to the reversal of the significant incentive fees recognized from investment sales in the previous fiscal year. (Investment Banking Business) In the investment banking business, rental income from proprietary investments, including rental properties, grew steadily, while proceeds from the sale of proprietary investments, including rental properties, also contributed. In addition, the company recognized capital gains (distributions from silent partnerships) from the sale of investments jointly made with customers (same-boat investments). Revenue was ¥13,485,503 thousand, up 606.6% year on year, and operating profit was ¥3,597,370 thousand, up 188.7%.」
The two pillars of investment management and investment banking have been maintained. For the full year, the investment management business reported lower revenue and profit due to the reversal of incentive fees, while the investment banking business expanded significantly on rental income, proceeds from property sales and gains on the sale of same-boat investments. - FY2016-Q3RestatedAnnual report
「(Investment Management Business) In the investment management business, although the company recorded asset management fees from existing investments, disposition fees from investment sales and incentive fees, revenue was ¥608,698 thousand, down 76.2% year on year, and operating profit was ¥382,870 thousand, down 82.4%, due to the reversal of the significant incentive fees recognized from investment sales in the first nine months of the previous fiscal year. (Investment Banking Business) In the investment banking business, rental income from proprietary investments, including rental properties, grew steadily, and proceeds from the sale of proprietary investments, including rental properties, also contributed. In addition, the company recognized capital gains (distributions from silent partnerships) from the sale of investments jointly made with customers (same-boat investments). Revenue was ¥10,300,215 thousand, up 567.5% year on year, and operating profit was ¥2,817,002 thousand, up 150.7%.」
The two pillars of investment management and investment banking have been maintained. For the current cumulative quarter, the investment management business reported lower revenue and profit due to the reversal of incentive fees, while the investment banking business reported higher revenue and profit on rental income, proceeds from the sale of proprietary investments and gains on the sale of same-boat investments. - FY2016-Q2First statedAnnual report
「(Investment Management Business) In the investment management business, although the company recorded asset management fees from existing investments and disposition fees from the sale of investments, revenue was ¥150,609 thousand, down 93.0% year on year, and operating loss was ¥15,765 thousand, compared with operating profit of ¥1,934,655 thousand in the same period of the previous year, because the significant incentive fees recognized from investment sales in the first half of the previous fiscal year were absent in the first half of the current fiscal year.」
The investment management business identifies asset management fees, disposition fees and incentive fees as sources of revenue.