Seasonality and Performance Concentration Due to Property Handover Timing
First written in FY2016. 18 of 22 entries say "Restated". Latest entry: FY2025-H1.
The whole theme swung hardest in 2025: 6 of 20 companies on the "Worse" side.
24 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the concentration of sales in the second half under the handover basis and seasonal sales fluctuations. - FY2024-Q2RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and the seasonal variation in sales due to the timing of property handovers. - FY2023WorsenedAnnual report
「Fiscal year ended March 2023 (consolidated) Accounting period First quarter Second quarter First half Third quarter Fourth quarter Second half Full year Sales ratio (%) 20.7 22.1 42.8 23.5 33.7 57.2 100.0」
The second-half sales ratio for the fiscal year ended March 2023 was 57.2%, indicating a greater concentration of sales in the second half than in the previous fiscal year, when the ratio was 50.4%. - FY2023-Q3RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and the seasonal variation in sales due to the timing of handovers. - FY2022Update to seasonal actual resultsAnnual report
「Fiscal year ended March 2022 (consolidated) Accounting period First quarter Second quarter First half Third quarter Fourth quarter Second half Full year Sales ratio (%) 23.5 26.1 49.6 24.2 26.2 50.4 100.0」
The second-half sales ratio for the fiscal year ended March 2022 was 50.4%, updating the actual seasonal results under the handover basis. - FY2022-Q3RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and the seasonal variation in sales due to the timing of property handovers. - FY2022-Q2RestatedAnnual report
「In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the concentration of sales in the second half under the handover basis and seasonal sales fluctuations. - FY2021-Q2RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the concentration of sales in the second half under the handover basis and seasonal sales fluctuations. - FY2021-Q1RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and the seasonal variation in sales due to the timing of property handovers. - FY2020Update to seasonal actual resultsAnnual report
「Fiscal year ended March 2020 (consolidated) Accounting period First quarter Second quarter First half Third quarter Fourth quarter Second half Full year Sales ratio (%) 21.5 26.3 47.8 24.3 27.9 52.2 100.0」
For the fiscal year ended March 2020, the second-half sales ratio was 52.2%, updating the actual results showing a concentration of sales in the second half under the handover basis. - FY2020-Q3RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and the seasonal variation in sales due to the timing of property handovers. - FY2020-Q2RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and the seasonal variation in sales due to the timing of property handovers. - FY2019RestatedAnnual report
「Fiscal year ended March 2019 (consolidated) Sales ratio (%) 16.5 24.0 40.5 28.5 31.0 59.5 100.0」
The company continues to disclose the concentration of sales in the second half under the handover basis, together with actual results including a second-half sales ratio of 59.5% for the fiscal year ended March 2019. - FY2019-Q3RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and the seasonal variation in sales due to the timing of handovers. - FY2018RestatedAnnual report
「In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to report the concentration of sales in the second half under the handover basis and earnings fluctuations due to the timing of property handovers. - FY2018-Q3RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the seasonal concentration of sales in the second half under the handover basis of revenue recognition. - FY2018-Q2RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the seasonal concentration of sales in the second half under the handover basis of revenue recognition. - FY2018-Q1RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the seasonal concentration of sales in the second half under the handover basis of revenue recognition. - FY2017-Q3RestatedAnnual report
「Because our group's real estate sales revenue is recognized primarily on the handover basis, sales are concentrated depending on the timing of handovers. In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the seasonal concentration of sales in the second half under the handover basis of revenue recognition. - FY2017-Q2RestatedAnnual report
「In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company continues to explain the seasonal concentration of sales in the second half under the handover basis of revenue recognition. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified in the risk of earnings concentration due to seasonality and the timing of property handovers. - FY2016First statedAnnual report
「In general, a higher proportion of homes are handed over in the second half, comprising the third and fourth quarters, than in the first half, comprising the first and second quarters, and accordingly, sales tend to be higher in the second half than in the first half.」
The company states that, under the handover basis of revenue recognition, sales are concentrated in the second half and that delays in handovers affect earnings.