Concentration and delays in revenue recognition due to handover timing
First written in FY2019. 8 of 12 entries say "Restated". Latest entry: 2026-08-14.
The whole theme swung hardest in 2026: 4 of 10 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- 2026-08-14RestatedEarnings
「なお、当社グループの経営成績は主要事業である不動産投資支援事業の物件竣工時期による業績への影響が大きく、当連結会計年度においては第４四半期に竣工引渡しが集中する予定となっており、計画は順調に進捗しております。」
物件竣工時期による業績変動と第4四半期集中の説明を継続している。 - FY2026-H1RestatedAnnual report
「Because the company recognizes revenue from real estate sales primarily based on deliveries, revenue is uneven depending on the timing of deliveries. Due to the characteristics of the real estate industry, deliveries are more frequent in the second half than in the first half, and revenue also tends to be higher in the second half.」
The company continues to explain the concentration of revenue under the delivery-based recognition method and its concentration in the second half. - FY2025RestatedAnnual report
「As for seasonal fluctuations, financial institutions providing real estate loans and real estate brokers become more active toward the end of the fiscal year, and the number of customers making purchases in response also increases, resulting in a tendency for revenue and profit to be concentrated in the fourth quarter.」
The company continues to explain the concentration of revenue recognition due to delivery timing and the concentration of revenue and profit in the fourth quarter. - FY2025-H1RestatedAnnual report
「Because the company recognizes revenue from real estate sales primarily based on deliveries, revenue is uneven depending on the timing of deliveries. Due to the characteristics of the real estate industry, deliveries are more frequent in the second half than in the first half, and revenue also tends to be higher in the second half.」
The company continues to describe the concentration of revenue under the delivery-based recognition method and its concentration in the second half as a risk and business characteristic during the current interim consolidated accounting period. - FY2024MaterialisedAnnual report
「As for seasonal fluctuations, financial institutions providing real estate loans and real estate brokers become more active toward the end of the fiscal year, and the number of customers making purchases in response also increases, resulting in a tendency for revenue and profit to be concentrated in the fourth quarter.」
The concentration of revenue recognition and performance in the fourth quarter, previously identified as a risk, has materialized in the current fiscal year, with quarterly revenue and operating profit also showing a concentration in the fourth quarter. - FY2024-Q3WorsenedAnnual report
「In addition, due to the nature of the real estate industry, the Group's operating results tend to generate higher revenue and profits in the second half, and this tendency is expected to be particularly pronounced in the current fiscal year, with a substantial concentration in the fourth quarter.」
The company states that, in the current fiscal year, revenue and profit are expected to be heavily concentrated in the fourth quarter, even within the second half, due to delivery timing. - FY2024-Q2WorsenedAnnual report
「In addition, due to the characteristics of the real estate industry, the Group's operating results tend to generate higher sales and profits in the second half, and this tendency has been particularly pronounced in the current fiscal year.」
The company states that, in the current fiscal year, the concentration of revenue and profit in the second half due to delivery timing is particularly pronounced. - FY2023RestatedAnnual report
「Revenue and performance may become concentrated in particular periods, including through shifts between fiscal periods, depending on the timing of property deliveries. In addition, if changes in the progress of individual property projects, sales plans, or completion schedules, construction delays caused by natural disasters or other unforeseeable events, or delivery delays caused by unforeseen circumstances occur, revenue may not be recognized at the planned time, which could affect our financial condition and operating performance.」
The company continues to identify as risks the concentration and shifts between fiscal periods in revenue recognition due to delivery timing, and construction and delivery delays. - FY2023-Q3RestatedAnnual report
「Because revenue from our real estate sales is recognized primarily upon delivery, revenue becomes concentrated depending on the timing of delivery. Due to the characteristics of the real estate industry, deliveries are generally made more frequently in the second half than in the first half, and revenue also tends to be higher in the second half accordingly.」
The company continues to explain the concentration of revenue under the delivery-based recognition method and the seasonality of deliveries and revenue being concentrated in the second half. - FY2022RestatedAnnual report
「The timing of property handovers may result in earnings concentration in particular periods, including shifts between fiscal periods.」
The company continues to disclose the risk of revenue recognition shifting between fiscal periods and performance becoming concentrated due to delivery timing, as well as measures to avoid these outcomes. - FY2020RestatedAnnual report
「If there are changes in the progress of individual property projects, sales plans, or completion schedules, construction delays caused by natural disasters or other unforeseeable events, or delivery delays caused by unforeseen circumstances, revenue may not be recognized at the planned time」
The company continues to identify as risks shifts in the timing of revenue recognition due to delivery timing, construction delays, and unforeseen circumstances. - FY2019First statedAnnual report
「Revenue and performance may become concentrated in particular periods, including through shifts between fiscal periods, depending on the timing of property deliveries. In addition, if changes in project progress, sales plans, or completion schedules for individual properties, construction delays caused by natural disasters or other unforeseeable events, or delivery delays caused by unforeseen circumstances occur, revenue may not be recognized at the planned time.」
The company separately describes the risks of shifts between fiscal periods, concentration of performance, and construction and delivery delays associated with its business model of recognizing revenue upon delivery.