Negative spread between fixed-rent payments and rental income due to lower occupancy
First written in FY2018. 3 of 4 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2024: 5 of 15 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「Accordingly, our Group has established the number of master-leased spaces, the number of subleased spaces, and the occupancy rate as performance management indicators. By monitoring the balance among these indicators as appropriate, we manage the risk of losses described above while increasing the number of master-leased spaces in a planned manner.」
The risk of a negative spread from fixed-rent payments and lower occupancy, and the response through monitoring the number of spaces and the occupancy rate, continue to be described. - FY2020RestatedAnnual report
「Accordingly, our Group has established the number of master-leased spaces, the number of subleased spaces, and the occupancy rate as performance management indicators. By monitoring the balance among these indicators as appropriate, we manage the risk of losses described above while increasing the number of master-leased spaces in a planned manner.」
The risk of a negative spread from fixed-rent payments and lower occupancy continues to be described, with responses through monitoring management indicators specified. - FY2019RestatedAnnual report
「If the number of occupied spaces used by monthly parking customers falls short of plan or cancellations of existing contracts with monthly parking customers increase, our revenue will decline while payments of fixed rent to parking owners must continue, potentially resulting in losses.」
The risk of a negative spread from fixed-rent payments and lower occupancy continues to be described, with factors such as increases in fixed rent also added. - FY2018First statedAnnual report
「If the number of occupied spaces used by monthly parking customers falls short of plan or cancellations of existing contracts with monthly parking customers increase, our revenue will decline while payments of fixed rent to parking owners must continue, potentially resulting in losses.」
The risk of fixed-rent obligations under master lease agreements is described.