Stable Income from Real Estate Leasing and Effective Use of Owned Land
First written in FY2016. 11 of 35 entries say "Worsened", first in FY2021-Q1. Latest entry: 2026-11-12.
Thermae-Yu Holdings moved to the "Worse" side of this theme in 2021, 4 years before the typical company in this theme (2025).
The whole theme swung hardest in 2021: 4 of 40 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- 2026-11-12WorsenedResults
「退去部屋を新たに賃貸せず自社グループでの利用を予定していることから売上高、営業利益の減少要因となりました。」
不動産事業では退去部屋を新規賃貸せず自社利用とする方針により、売上高・営業利益の減少要因が示された。 - FY2026Decline in real estate rental revenueAnnual report
「Revenue in the real estate business decreased 5.5% year on year to ¥46.765 million, while operating profit decreased 16.2% to ¥14.190 million.」
Stable income from the residential portion of the Nishi-Azabu building continued, but the real estate business posted lower revenue and operating profit because vacated units were used by the Company rather than offered for new leases. - FY2025-H1AdvancedAnnual report
「In the real estate business, the Company continued to generate stable rental income from the residential portion of the "Econac Nishi-Azabu Building" owned in Nishi-Azabu, Minato-ku, Tokyo. Consequently, revenue increased 5.9% year on year to ¥25.206 million, while operating profit increased 13.6% to ¥7.734 million.」
Stable rental income from the residential portion of the Nishi-Azabu building continued, resulting in higher revenue and operating profit in the real estate business year on year. - FY2024AdvancedAnnual report
「In the real estate business, the Company continued to generate stable rental income from the residential portion of the "Econac Nishi-Azabu Building" owned in Nishi-Azabu, Minato-ku, Tokyo. In addition, because the bathing business assumed some of the costs associated with the building when using part of it, the real estate business bore fewer costs, contributing to higher profit. Consequently, revenue was ¥49.506 million, up 11.0% from the previous consolidated fiscal year, and operating profit was ¥17.439 million, compared with an operating loss of ¥3.321 million in the previous consolidated fiscal year.」
Stable rental income from the residential portion of the Nishi-Azabu building continued, while the conversion of part of the building for the bathing business reduced the real estate business's cost burden, causing it to move from an operating loss to operating profit. - FY2024-Q3AdvancedAnnual report
「In the real estate business, the Company continued to generate stable rental income from the residential portion of the "Econac Nishi-Azabu Building" owned in Nishi-Azabu, Minato-ku, Tokyo. Consequently, revenue increased 11.4% year on year to ¥37.094 million, and operating profit was ¥11.880 million, compared with an operating loss of ¥3.346 million in the same quarter of the previous year.」
Stable income from the residential portion of the Nishi-Azabu building continued, and the real estate business moved from an operating loss in the previous year to operating profit, while revenue also increased 11.4%. - FY2024-Q2AdvancedAnnual report
「In the real estate business, the Company continued to generate stable rental income from the residential portion of the "Econac Nishi-Azabu Building" owned in Nishi-Azabu, Minato-ku, Tokyo. Consequently, revenue increased 5.6% year on year to ¥23.803 million, and operating profit was ¥6.809 million, compared with an operating loss of ¥2.569 million in the same quarter of the previous year.」
Stable income from the residential portion of the Nishi-Azabu building continued, and the real estate business moved from an operating loss in the previous year to operating profit. - FY2024-Q1Recovery in real estate business earningsAnnual report
「In the real estate business, the Company continued to generate stable rental income from the residential portion of the "Econac Nishi-Azabu Building" owned in Nishi-Azabu, Minato-ku, Tokyo. Consequently, revenue increased 2.7% year on year to ¥11.623 million, and operating profit was ¥3.089 million, compared with operating profit of ¥0.238 million in the same quarter of the previous year.」
While renovation of the former tenant space continued, stable residential income drove year-on-year revenue growth in the real estate business, and operating profit recovered from ¥0.238 million to ¥3.089 million. - FY2023WorsenedAnnual report
「The portion previously used as rental property for tenants through the end of the previous consolidated fiscal year was being renovated into an urban sauna and spa facility during the current consolidated fiscal year, so it generated no rental income and reduced revenue from the real estate business. Consequently, the business generated revenue of ¥44.589 million, down 30.3% from the previous consolidated fiscal year, and posted an operating loss of ¥3.321 million, compared with operating profit of ¥15.895 million in the previous consolidated fiscal year.」
Renovation of the former tenant space into a sauna and spa facility eliminated rental income, causing the real estate business to post lower revenue and move from operating profit to an operating loss. - FY2023-Q3WorsenedAnnual report
「The portion previously used as rental property for tenants through the end of the previous consolidated fiscal year is currently being renovated into an urban sauna and spa facility, reducing rental income in the real estate business. Consequently, revenue decreased 35.2% year on year to ¥33.289 million, and the business posted an operating loss of ¥3.346 million, compared with operating profit of ¥13.420 million in the same quarter of the previous year.」
Renovation of the former tenant space into a sauna and spa facility continued, reducing rental income. The real estate business moved from operating profit in the previous year to an operating loss. - FY2023-Q2WorsenedAnnual report
「In the real estate business, the Company continued to generate stable income from the residential portion of its building in Nishi-Azabu, Minato-ku, Tokyo. However, the portion previously used as rental property for tenants through the end of the previous consolidated fiscal year is currently being renovated into an urban sauna and spa facility, reducing rental income in the real estate business. Consequently, revenue decreased 37.8% year on year to ¥22.538 million, and the business posted an operating loss of ¥2.569 million, compared with operating profit of ¥13.165 million in the same quarter of the previous year.」
Residential rental income remained stable, but renovation of the former tenant space into a sauna and spa facility reduced rental income, causing the real estate business to move from operating profit in the previous year to an operating loss. - FY2023-Q1WorsenedAnnual report
「The portion previously used as rental property for tenants through the end of the previous consolidated fiscal year is currently being renovated into an urban sauna and spa facility, reducing rental income in the real estate business. Consequently, revenue decreased 39.1% year on year to ¥11.314 million, while operating profit decreased 96.0% to ¥0.238 million.」
Rental income declined because the former tenant space in the Nishi-Azabu building is being renovated into an urban sauna and spa facility. Revenue and operating profit in the real estate business fell below the previous year's levels. - FY2022WorsenedAnnual report
「The Company decided to renovate the vacant space from the basement level through the second floor, as well as part of the residential portion, and repurpose it as a new urban sauna and spa facility.」
Rental income declined substantially because revenue from the major tenant could no longer be recognized and other tenants also vacated the premises. The Company has indicated a policy of converting the vacant space into a sauna and spa facility. - FY2022-Q3WorsenedAnnual report
「In the real estate business, the Company continued to generate stable income from the residential portion of its building in Nishi-Azabu, Minato-ku, Tokyo. However, rental income from the tenant portion declined substantially, mainly due to the termination of a contract with a major tenant. The tenant had fallen behind on rent payments due to the impact of COVID-19, so the Company requested termination of the contract in January 2021 and filed an action seeking vacation of the premises. The parties reached a settlement in November 2021, and the tenant vacated the premises in January 2022. Consequently, revenue decreased 59.5% year on year to ¥51.410 million, while operating profit decreased 85.9% to ¥13.420 million.」
Termination of the contract with, and subsequent departure of, a major tenant caused tenant rental income to decline substantially, in contrast to stable residential income. The real estate business posted a 59.5% decrease in revenue and an 85.9% decrease in operating profit. - FY2022-Q2WorsenedAnnual report
「In the real estate business, the Company continued to generate stable income from the residential portion of its building in Nishi-Azabu, Minato-ku, Tokyo. However, payments from a major tenant had fallen into arrears due to the impact of COVID-19, so the Company requested termination of the contract effective January 2021. It also filed an action seeking the tenant's vacation of the premises. As a result, rental income from the tenant portion declined substantially. Consequently, revenue decreased 56.7% year on year to ¥36.229 million, while operating profit decreased 78.7% to ¥13.165 million.」
Stable residential income continued, but rent arrears from a major tenant, the request to terminate the contract and litigation seeking vacation of the premises continued. Revenue decreased 56.7% and operating profit decreased 78.7%. - FY2022-Q1WorsenedAnnual report
「However, payments from a major tenant had fallen into arrears due to the impact of COVID-19, so the Company requested termination of the contract effective January 2021. It also filed an action seeking the tenant's vacation of the premises. As a result, rental income from the tenant portion declined substantially. Consequently, revenue decreased 55.6% year on year to ¥18.564 million, while operating profit decreased 80.9% to ¥5.909 million.」
In response to rent arrears from a major tenant, the Company requested contract termination and filed an action seeking vacation of the premises. The substantial decline in tenant rental income resulted in lower revenue and operating profit in the real estate business. - FY2021WorsenedAnnual report
「Some tenants temporarily closed their businesses due to the impact of COVID-19, making rent collection difficult. Following discussions between the parties, the Company had agreed to a temporary rent reduction, but because payments remained overdue, it requested termination of the contracts effective January 2021 and has not recognized rental revenue since February.」
Residential rents remained stable, but difficulties collecting tenant rents continued. The Company requested termination of the contracts in January 2021, and rental revenue ceased from February onward. - FY2021-Q3RestatedAnnual report
「In the real estate business, the Company continued to generate stable income from the residential portion of its building in Nishi-Azabu, Minato-ku, Tokyo. However, some tenants temporarily closed their businesses due to the impact of COVID-19. As a result, rent collection became difficult, and following discussions between the parties, the Company agreed to a temporary rent reduction. Consequently, revenue decreased 15.2% year on year to ¥127.021 million, while operating profit decreased 15.0% to ¥94.904 million.」
Stable residential income continued, but tenant closures, difficulties collecting rent and continued temporary rent reductions resulted in lower revenue and operating profit in the real estate business. - FY2021-Q2RestatedAnnual report
「In the real estate business, the Company continued to generate stable income from the residential portion of its building in Nishi-Azabu, Minato-ku, Tokyo. However, some tenants temporarily closed their businesses due to the impact of COVID-19. As a result, rent collection became difficult, and following discussions between the parties, the Company agreed to a temporary rent reduction. Consequently, revenue decreased 16.3% year on year to ¥83.605 million, while operating profit decreased 16.6% to ¥61.893 million.」
Stable residential income continued, but difficulties collecting rent following tenant closures and continued temporary rent reductions resulted in lower revenue and operating profit in the real estate business. - FY2021-Q1WorsenedAnnual report
「However, some tenants temporarily closed their businesses due to the impact of COVID-19. As a result, rent collection became difficult, and following discussions between the parties, the Company agreed to a temporary rent reduction. Consequently, revenue decreased 16.5% year on year to ¥41.811 million, while operating profit decreased 13.2% to ¥30.995 million.」
Residential rental income remained stable, but tenant closures made rent collection difficult. The resulting temporary rent reduction led to lower revenue and operating profit in the real estate business. - FY2020RestatedAnnual report
「The tenant portion of the building owned in Nishi-Azabu, Minato-ku, Tokyo, generated income at a 100% occupancy rate. The residential portion also generated stable income, with an occupancy rate of 98.6%.」
Continued to secure high occupancy rates and stable income from the tenant and residential portions of the Nishi-Azabu building. - FY2020-Q3RestatedAnnual report
「In the real estate business, the Company continued to generate stable income from tenant rents and residential rents at its building in Nishi-Azabu, Minato-ku, Tokyo. Revenue increased 0.6% year on year to ¥149.824 million. Operating profit increased 22.9% to ¥111.712 million, partly because no valuation loss on property held for sale was recorded in the current third quarter, unlike in the cumulative third quarter of the previous fiscal year.」
Revenue and operating profit exceeded the previous year's levels, supported by continued rental income from the Nishi-Azabu building and the absence of a valuation loss on property held for sale. - FY2020-Q2RestatedAnnual report
「In the real estate business, the Company continued to generate stable income from tenant rents and residential rents at its building in Nishi-Azabu, Minato-ku, Tokyo. Revenue increased 0.6% year on year to ¥99.851 million. Operating profit increased 21.5% to ¥74.217 million, partly because no valuation loss on property held for sale was recorded in the current second quarter, unlike in the cumulative second quarter of the previous fiscal year.」
Continued to secure rental income from the Nishi-Azabu building, generating revenue of ¥99.851 million and operating profit of ¥74.217 million. No valuation loss on property held for sale, recorded in the same quarter of the previous year, was recognized in the current quarter. - FY2019AdvancedAnnual report
「The Company earned income from the tenant area of its building in Nishiazabu, Minato-ku, Tokyo, at a 100% occupancy rate. The residential area also generated stable income at an occupancy rate of 98.7%. In addition, although the sale of real estate held for sale in Toba, Mie Prefecture, for long-term holding was completed in March 2019, the sale was made below its carrying amount because the Company determined that ensuring the certainty of cash realization was the best course of action, resulting in higher cost of sales.」
Secured rental income from the Nishi-Azabu building through its high occupancy rate and completed the sale of property held for long-term sale in Toba, Mie Prefecture. - FY2019-Q3Continuation of rental income after completion of the residential land subdivision salesAnnual report
「In the real estate business, the Company continued to earn stable rental income from the tenant and residential areas of its building in Nishiazabu, Minato-ku, Tokyo. However, because sales equivalent to the residential land subdivision sales recorded in Karuizawa, Kitasaku District, Nagano Prefecture, in the same quarter of the previous year were not expected in the third quarter of the fiscal year under review, net sales in the business decreased 40.1% year on year to ¥148,928 thousand. Operating profit, however, increased 3.4% to ¥90,908 thousand.」
While sales from the Karuizawa residential land subdivision were no longer expected, rental income from the Nishiazabu Building remained stable, resulting in higher operating profit despite lower net sales in the real estate business. - FY2019-Q2RestatedAnnual report
「In the real estate business, the Company continued to earn stable rental income from the tenant and residential areas of its building in Nishiazabu, Minato-ku, Tokyo. Net sales increased 0.3% year on year to ¥99,268 thousand, while operating profit increased 24.4% to ¥61,073 thousand, mainly due to a decrease in valuation losses on real estate held for sale.」
The Company secured stable income from the tenant and residential areas of the Nishiazabu Building, and net sales and operating profit in the real estate business exceeded the previous year's results. - FY2019-Q1RestatedAnnual report
「In the real estate business, rental income from the tenant and residential areas of the Company's building in Nishiazabu, Minato-ku, Tokyo, remained stable. Net sales decreased 1.1% year on year to ¥49,606 thousand. However, operating profit decreased 23.8% to ¥29,848 thousand, mainly because the carrying amount of real estate held for sale was reduced to its recoverable amount.」
While rental income from the Nishiazabu Building remained stable, operating profit in the real estate business declined due to the reduction in the carrying amount of real estate held for sale and other factors. - FY2018AdvancedAnnual report
「The Company earned income from the tenant area of its building in Nishiazabu, Minato-ku, Tokyo, at a 100% occupancy rate. The residential area also generated stable income at an occupancy rate of 96.8%. In addition, the Company sold all remaining lots of the residential land subdivision in Karuizawa, Kitasaku District, Nagano Prefecture, which had been held as real estate for sale.」
The Company secured income from the Nishiazabu Building's tenant and residential areas through high occupancy rates and sold all lots in the Karuizawa residential land subdivision. - FY2018-Q3AchievedAnnual report
「During the third quarter of the fiscal year under review, the Company completed the sale of all remaining lots of residential land being subdivided and sold in Karuizawa, Kitasaku District, Nagano Prefecture.」
The Company completed the sale of all remaining lots in the Karuizawa residential land subdivision. - FY2018-Q2AdvancedAnnual report
「During the second quarter of the fiscal year under review, the Company revalued the subdivided residential land held for sale in Karuizawa, Kitasaku District, Nagano Prefecture, at an appropriate price after obtaining a prospect of selling all remaining lots currently on the market.」
For the real estate held for sale in Karuizawa, the Company obtained prospects for selling all remaining lots, making concrete progress toward completing the sales. - FY2017-Q3AdvancedAnnual report
「Under these circumstances, the real estate business earned stable rental income from the tenant building and residences in Nishiazabu, Minato-ku, Tokyo, and sales of subdivided residential land in Karuizawa proceeded as planned. As a result, net sales increased 74.7% year on year to ¥254,669 thousand, and operating profit increased 47.6% to ¥164,192 thousand.」
In addition to stable rental income from Nishiazabu, sales of subdivided residential land in Karuizawa progressed as planned, and net sales and operating profit in the real estate business exceeded the previous year's second-quarter results. - FY2017-Q2RestatedAnnual report
「In the real estate business, the Company earned stable rental income from the tenant building and residences in Nishiazabu, Minato-ku, Tokyo. Net sales increased 1.2% year on year to ¥98,318 thousand, while operating profit decreased 5.6% to ¥70,279 thousand.」
The Company continued to secure stable income from the tenant building and residences in Nishiazabu. - FY2017-Q1RestatedAnnual report
「In the real estate business, the Company secured stable rental income from the tenants and residential areas of its building in Nishiazabu, Minato-ku, Tokyo.」
The Company stated that it continued to secure stable income from the tenant and residential areas of the Nishiazabu Building. - FY2016First statedAnnual report
「We will work to expand performance by focusing on stable income from tenants and rental housing in Nishiazabu, Minato-ku, Tokyo, while pursuing effective use of owned land and other initiatives.」
In the real estate business, the Company stated its policy of promoting effective use of land while focusing on existing rental income.