Pre-Completion Contracts and Improved Inventory Turnover
First written in FY2017. 10 of 21 entries say "Restated". Latest entry: 2026-08-06.
The whole theme swung hardest in 2026: 1 of 9 companies on the "Worse" side.
9 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「With the early sale of completed inventory in mind, the company focused on selling properties at appropriate prices by flexibly changing selling prices and taking other measures.」
The company continues to manage its inventory and sales cycle through the early sale of completed inventory and flexible changes to selling prices. - FY2025RestatedAnnual report
「In particular, most properties planned and developed by the company are contracted for sale before completion. The company is working to shorten the period from land acquisition to completion and handover (sale), thereby improving inventory turnover and strengthening its financial resources and land-acquisition capabilities.」
The company continues to indicate measures to strengthen financial resources and land-acquisition capabilities through pre-completion sales contracts, a shorter business cycle and improved inventory turnover. - FY2025-H1RestatedAnnual report
「The company will continue to focus on the early sale of completed inventory and strengthen land acquisition and construction-process management to expand the number of properties sold in the future.」
The company continues to sell completed inventory early while strengthening land acquisition and construction-process management to expand the number of properties sold. - FY2024-Q3RestatedAnnual report
「Centered on its core subdivision housing business, the company worked to acquire subdivision sites at appropriate prices and sell completed inventory early.」
The company continues to manage inventory and capital turnover by combining land acquisition at appropriate prices with the early sale of completed inventory. - FY2024-Q1RestatedAnnual report
「Centered on its core subdivision housing business, the company worked to acquire subdivision sites at appropriate prices and sell completed inventory early.」
The company continues to combine land acquisition at appropriate prices with the early sale of completed inventory. - FY2023RestatedAnnual report
「In particular, most properties planned and developed by the company are contracted for sale before completion. The company is working to shorten the period from land acquisition to completion and handover (sale), thereby improving inventory turnover and strengthening its financial resources and land-acquisition capabilities.」
Full-year measures to strengthen financial resources and land-acquisition capabilities through pre-completion sales contracts, a shorter business cycle and improved inventory turnover have also been indicated. - FY2023-Q2RestatedAnnual report
「To provide customers with detached homes in highly convenient areas, the company focused on agile land acquisition while working to sell completed inventory early.」
The company continues to pursue agile land acquisition in highly convenient areas and the early sale of completed inventory. - FY2023-Q1Completed inventory shortages and early sales mentioned togetherAnnual report
「Because the number of inventory properties has declined from the same period of the previous year, the company was unable to secure sufficient completed inventory, and the number of properties sold declined from the same period of the previous year. The company will continue to focus on the early sale of completed inventory, while」
The company is continuing to sell completed inventory early, but was unable to secure sufficient completed inventory because the number of inventory properties declined, resulting in fewer subdivision homes sold than in the same period of the previous year. - FY2022RestatedAnnual report
「In particular, most properties planned and developed by the company are contracted for sale before completion. The company is working to shorten the period from land acquisition to completion and handover (sale), thereby improving inventory turnover and strengthening its financial resources and land-acquisition capabilities.」
Measures to strengthen financial resources and land-acquisition capabilities through pre-completion sales contracts, shorter periods to handover and improved inventory turnover have been reaffirmed. - FY2020AdvancedAnnual report
「It takes an average of 8 months from signing a land acquisition contract to selling the property to the end user, and we respond flexibly to changes in market conditions during this period.」
To address completed inventory and market conditions, the company is applying flexible property-by-property pricing and managing margins, with a target average period of 8 months from acquisition to sale. - FY2020-Q3AdvancedAnnual report
「To respond flexibly to market conditions with a large amount of completed inventory, we continue to set sales prices in detail. We will continue to thoroughly manage profit margins for each project.」
In response to market conditions with high levels of completed inventory, the company has formalised an operating approach that combines flexible pricing with continued project-by-project profit-margin management. - FY2020-Q2AdvancedAnnual report
「Reflecting on the sharp deterioration in profit in the first quarter of the fiscal year ended March 2019, the company implemented 3 measures: 1. Detailed and flexible sales-price setting; 2. Changes to standard specifications based on CS surveys; and 3. Establishment of planning meetings. These measures enabled the company to make proposals that were more market-oriented and offered a broader range of options, and performance recovered steadily.」
The company explains that, in light of the previous period's profit deterioration, it reviewed sales prices, standard specifications and property planning, and that performance recovered steadily. - FY2020-Q1AdvancedAnnual report
「In response to the crisis, the company took 3 main measures. First, it continued to implement detailed, property-by-property pricing when setting sales prices. Given its business model, it shifted the sales organisation from previously focusing relatively heavily on procurement to a sales style that is highly responsive to both procurement and sales. Second, it conducted customer CS surveys to identify customers' current, firsthand needs. Based on the results, it also reviewed some standard specifications, enabling it to better meet customer needs. Third, it established planning meetings involving the relevant departments for properties above a certain scale.」
In light of the profit compression caused by discounts in the first half of 2018, the company specifically reviewed the operation of pricing, customer-needs assessment, standard specifications and property planning. - FY2019Reflects the impact of discount adjustments for the full fiscal yearAnnual report
「In the built-for-sale housing business, temporary discounts were unavoidable in the first half to adjust sales inventory, resulting in sales and profit falling well short of plan. Profit margins recovered in the third quarter as highly profitable projects were contracted, but the improvement was not enough to make up for the delayed start in the first half.」
Discount adjustments were made in the first half to address completed inventory and inventory turnover. Although profit margins recovered in the third quarter, the impact of the shortfall against plan remained for the full fiscal year. - FY2019-Q3Describes profit recovery from narrower discountsAnnual report
「Through the second quarter, profits had deteriorated because properties planned and acquired in the previous period could not be sold at the originally projected prices and were subject to discount sales aimed at accelerating sales of completed inventory and maintaining inventory turnover. In the third quarter, profit improved as discounts narrowed and the company sold a large number of high-margin properties.」
Discount sales continued to accelerate sales of completed inventory and maintain inventory turnover, but profit improved in the third quarter due to narrower discounts and high-margin properties. - FY2019-Q2Quantifies the widening impact of discount sales on profit marginsAnnual report
「For properties planned and land acquired in the previous period, the company was unable to sell at the originally projected prices. Discount sales aimed at accelerating sales of completed inventory and maintaining inventory turnover caused the profit margin to decline 3.0 percentage points year on year.」
Discount sales continued as a means of accelerating sales of completed inventory and maintaining inventory turnover, with the impact on the profit margin shown as a 3.0-percentage-point decline. - FY2019-Q1Specifies maintaining turnover through discount salesAnnual report
「Profit margins declined 1.6 percentage points year on year as a result of discount sales aimed at accelerating sales of completed inventory and maintaining inventory turnover.」
In addition to the company's conventional pre-completion sales, discount sales of completed inventory are explicitly identified as a means of maintaining inventory turnover. Discounts reduced the profit margin by 1.6 percentage points. - FY2018RestatedAnnual report
「Many of the properties planned and developed by the company are sold under contract before completion. By shortening the period from land acquisition to completion and handover (sale) and improving inventory turnover, the company seeks to strengthen its financial resources and land acquisition capabilities.」
Measures to strengthen financial resources and land acquisition capabilities through pre-completion sales, a shorter business cycle and improved inventory turnover are also presented for the full fiscal year. - FY2017First statedAnnual report
「We secure sales contracts before completion and seek to strengthen our financial resources and land acquisition capabilities by shortening the period from land acquisition to completion and handover (sale), thereby improving inventory turnover.」
The company specifically describes, for the first time, measures linking pre-completion sales, a shorter period to handover and improved inventory turnover.