Increased dependence on the turnkey solution services business for earnings
First written in FY2019. 8 of 18 entries say "Restated". Latest entry: 2026-08-10.
The whole theme swung hardest in 2025: 22 of 57 companies on the "Worse" side.
15 other companies' latest entry also says "Mitigated".
- 2026-08-10MitigatedFinancial Results Presentation
「Rental business profitability continued to improve, reducing the segment loss from the same period of the previous year」
The segment loss in turnkey solutions services narrowed from ¥175 million in the same period of the previous year to ¥158 million. - FY2025Narrower operating loss and continued shortfalls in turnkey business salesAnnual report
「As a result, revenue was ¥854.188 million, down 40.1% from the previous fiscal year, when 2 single-building indoor self-storage facilities were sold, while operating loss improved by ¥39.423 million from the previous fiscal year to ¥144.091 million, compared with an operating loss of ¥183.515 million in the previous fiscal year.」
Turnkey solution revenue fell 40.1%, while operating loss narrowed from ¥183.515 million to ¥144.091 million. Shortfalls in the number of facility sales and losses from rental operations continue to affect company-wide profit and loss. - FY2025-H1Narrower operating loss for the turnkey solutionAnnual report
「As a result, revenue for the interim accounting period was ¥329.140 million, up 1.7% year on year, and operating loss was ¥119.888 million, compared with an operating loss of ¥125.370 million in the same period of the previous year.」
Turnkey solution service revenue increased, while operating loss narrowed from ¥125.370 million in the same period of the previous year to ¥119.888 million. Profit and loss from property development and operations continues to affect company-wide results. - FY2024WorsenedAnnual report
「As a result, revenue was ¥1,426.303 million, up 25.0% from the previous fiscal year, while operating loss was ¥183.515 million, compared with an operating loss of ¥104.789 million in the previous fiscal year, due in part to the recognition of losses expected to arise over the remaining terms of lease agreements for individual rental properties, based on forecast future occupancy rates and other factors.」
Although the turnkey solution generated higher revenue, operating loss widened from ¥104.789 million to ¥183.515 million, resulting in greater fluctuations in profit and loss associated with earnings dependence on the service. - FY2024-Q2WorsenedAnnual report
「(Turnkey solution service) For the cumulative second quarter, revenue was ¥323.557 million, down 19.9% year on year, and operating loss was ¥125.370 million, compared with an operating loss of ¥116.447 million in the same quarter of the previous year.」
Turnkey solution service revenue fell 19.9% year on year, while operating loss widened from ¥116.447 million to ¥125.370 million. The impact of fluctuations in the service’s performance on company-wide profit and loss has been updated. - FY2024-Q1Higher revenue and a narrower operating lossAnnual report
「(Turnkey solution service) For the cumulative first quarter, revenue was ¥132.131 million, up 5.1% year on year, and operating loss was ¥60.391 million, compared with an operating loss of ¥66.808 million in the same quarter of the previous year.」
Turnkey solution service revenue increased 5.1% year on year, while operating loss narrowed from ¥66.808 million to ¥60.391 million. The results update the indication that the service, which involves property development and operations, affects company-wide profit and loss. - FY2023Lower sales and a narrower operating lossAnnual report
「(Turnkey solution service) During the fiscal year, the company introduced investment-grade properties to StorHub group companies, developed and sold the “Honmoku-hara, Naka-ku, Yokohama” property, and conducted the investment resale of 20 operating container-type self-storage facilities distributed across Honshu.」
Turnkey solution service revenue was ¥1,140.677 million, down 32.7% from the previous fiscal year, while operating loss was ¥104.789 million, an improvement of ¥118.458 million from the previous fiscal year. - FY2023-Q3WorsenedAnnual report
「(Turnkey solution service) For the cumulative third quarter, revenue was ¥537.539 million, down 47.5% year on year, and operating loss was ¥176.942 million, compared with an operating loss of ¥164.411 million in the same quarter of the previous year.」
Turnkey solution service revenue fell 47.5% year on year, while operating loss widened from ¥164.411 million in the same period of the previous year to ¥176.942 million. The figures showing the impact of the service’s performance on company-wide profit and loss have been updated. - FY2023-Q2RestatedAnnual report
「(Turnkey solution service) For the cumulative second quarter, revenue was ¥404.050 million, down 37.0% year on year, and operating loss was ¥116.447 million, compared with an operating loss of ¥122.459 million in the same quarter of the previous year.」
The results show that property development, sales and operating profitability under the turnkey solution continue to have a significant impact on company-wide profit and loss. - FY2023-Q1RestatedAnnual report
「(Turnkey solution service) For the cumulative first quarter, revenue was ¥125.663 million, up 44.8% year on year, and operating loss was ¥66.808 million, compared with an operating loss of ¥85.483 million in the same quarter of the previous year.」
Property introductions and improved occupancy at operated facilities under the turnkey solution contributed to quarterly results, reaffirming that the service’s earnings and profit or loss affect company-wide performance. - FY2022RestatedAnnual report
「Turnkey solution service revenue consists mainly of proceeds from the sale of real estate properties, including self-storage facilities, and therefore tends to be substantial compared with revenue from the company’s other services. Accordingly, the performance of the turnkey solution service may cause significant fluctuations in the company’s overall business performance. In particular, quarterly results may be skewed over the short term depending on whether properties are sold.」
The company continues to disclose its earnings dependence on property sales under the turnkey solution and the risk of fluctuations in business performance depending on whether properties are sold. - FY2022-Q3RestatedAnnual report
「As a result, revenue for the cumulative third quarter amounted to ¥1,023.905 million and operating loss amounted to ¥164.411 million.」
The turnkey solution service reported revenue of ¥1,023.905 million and operating loss of ¥164.411 million for the cumulative third quarter, updating the indication that the service’s performance affects company-wide profit and loss. - FY2021-Q3RestatedAnnual report
「Revenue was ¥1,701.870 million and operating loss was ¥55.995 million, due to the sale of 2 facilities, including 2 “Key Pit” facilities developed by the company, and the company’s increased efforts to provide master lease services, including bulk leasing, vacancy guarantees and operational management, to support the stable operation of facilities it developed and sold.」
Even on a cumulative basis through the third quarter, property sales and master leases comprised the turnkey solution service’s performance, indicating continued earnings dependence on property sales and operations. - FY2021-Q1RestatedAnnual report
「As a result, for the cumulative first quarter, revenue was ¥939.338 million, up 55.4% year on year, and operating income was ¥38.272 million, down 4.4% year on year, owing to the sale of “KeyPit Azamino” and other facilities and the operation of approximately 5,500 units at facilities developed by the company and other facilities.」
The sale and operation of properties under the turnkey solution service accounted for revenue of ¥939.338 million in the first quarter, indicating continued earnings dependence on the service. - FY2020RestatedAnnual report
「Turnkey solution service revenue consists mainly of proceeds from the sale of real estate properties, including self-storage facilities, and therefore tends to be substantial compared with revenue from the company’s other services. Accordingly, the performance of the turnkey solution service may cause significant fluctuations in the company’s overall business performance. In particular, quarterly results may be skewed over the short term depending on whether properties are sold.」
The company continues to disclose its earnings dependence on the turnkey solution and the risk of fluctuations in business performance depending on whether properties are sold and when they are handed over. - FY2020-Q3RestatedAnnual report
「Turnkey solution service revenue consists mainly of proceeds from the sale of real estate properties and therefore tends to be substantial compared with revenue from the company’s other services. Accordingly, the performance of the turnkey solution service may cause significant fluctuations in the company’s overall business performance. In particular, quarterly results may be skewed over the short term depending on whether properties are sold. In addition, if unforeseen circumstances, such as natural disasters, accidents or other unforeseeable factors, delay property handovers beyond the fiscal year-end, or if handovers to customers are deferred to the following period because completion of properties scheduled for completion and handover near the fiscal year-end is postponed, this could affect the company’s results for the relevant period.」
The company continues to disclose its earnings dependence on the turnkey solution, the skewing of quarterly results depending on whether properties are sold, and the risk of period shifts due to delays in completion and handover. - FY2020-Q2WorsenedAnnual report
「Turnkey solution service revenue consists mainly of proceeds from the sale of real estate properties and therefore tends to be substantial compared with revenue from the company’s other services. Accordingly, the performance of the turnkey solution service may cause significant fluctuations in the company’s overall business performance. In particular, quarterly results may be skewed over the short term depending on whether properties are sold. In addition, if unforeseen circumstances, such as natural disasters, accidents or other unforeseeable factors, delay property handovers beyond the fiscal year-end, or if handovers to customers are deferred to the following period because completion of properties scheduled for completion and handover near the fiscal year-end is postponed, this could affect the company’s results for the relevant period.」
In addition to the existing earnings dependence on the turnkey solution, the company newly specifies concrete risks of fluctuations in business performance, including quarterly results being skewed depending on whether properties are sold and period shifts caused by delays in completion and handover. - FY2019First statedAnnual report
「Turnkey solution service revenue consists mainly of proceeds from the sale of real estate properties and therefore tends to be substantial compared with revenue from the company’s other services. Accordingly, the performance of the turnkey solution service may cause significant fluctuations in the company’s overall business performance. In particular, quarterly results may be skewed over the short term depending on whether properties are sold. Consequently, the sale performance of developed properties under the turnkey solution service is expected to have an increasing impact on the company’s overall profit.」
The turnkey solution’s share of revenue exceeded 80% and its share of gross profit expanded to approximately 48%, indicating as a risk factor that the sale performance of developed properties is expected to have a greater impact on company-wide profit.