Earnings Downside Due to Delays in Land Acquisition
First written in FY2018-Q1. 6 of 8 entries say "Mitigated", first in FY2018-Q2. Latest entry: FY2026.
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- FY2026AdvancedAnnual report
「Land acquisition taking future growth into account is progressing generally in line with plan.」
Regarding the delays in land acquisitions identified in the past, the company explains that land acquisitions undertaken in anticipation of future growth progressed generally in line with plan. - FY2021MitigatedAnnual report
「Regarding procurement, the Company will secure an advantage by acquiring high-quality land at appropriate prices, centered on locally focused, in-depth sales activities」
Regarding the delays in land acquisitions identified in the past, the company continued acquiring high-quality land at appropriate prices through locally focused sales activities, while the number of subdivision homes delivered and revenue from the subdivision housing business also increased. - FY2020MitigatedAnnual report
「Regarding procurement, relationships with brokerage companies in the sales area deepened steadily, enabling the Company to achieve stable land procurement.」
Regarding the delays in land acquisitions identified in the past, the company explains that it achieved stable acquisitions by deepening relationships with brokerage firms. - FY2020-Q1MitigatedAnnual report
「The Company has already acquired land equivalent to more than 120% of the sales value planned for the current fiscal year, compared with a sales plan of ¥7.2 billion for its subdivision housing business.」
Regarding the delays in land acquisitions identified in the past, the company explains that land acquisitions progressed during the quarter at a level exceeding the annual sales plan. - FY2018MitigatedAnnual report
「Real estate for sale under development increased by ¥423.187 million due to increases in land acquisitions and the number of construction starts, while real estate for sale decreased by ¥61.402 million as sales progressed smoothly」
Regarding the delays in land acquisitions that emerged in the previous fiscal year, increases in land acquisitions and the number of construction starts, along with progress in sales, indicate that the recovery trend has continued. - FY2018-Q3MitigatedAnnual report
「Real estate for sale under development increased by ¥542.473 million due to increases in land acquisitions and the number of construction starts, while」
The company explained that land acquisitions and the number of construction starts increased, indicating that the recovery from the delays in land acquisitions identified in the previous filing has continued. However, it does not expressly state that the delays have been completely resolved. - FY2018-Q2MitigatedAnnual report
「This was mainly due to a ¥489.905 million increase in real estate for sale under development as land acquisitions for sale and the number of construction starts progressed smoothly, while」
Regarding the delays in land acquisitions that emerged in the previous filing, the company explains that land acquisitions for sale and the number of construction starts progressed smoothly in the second quarter. The filing does not state that the delays had been completely resolved. - FY2018-Q1MaterialisedAnnual report
「However, during the cumulative first quarter period, results fell below the previous year's level due to delays in land acquisitions since the end of last year」
The company itself explains that delays in land acquisitions since the end of last year actually occurred and contributed to results falling below the previous year's level.