Slump in the Golf Resort Membership Market
First written in FY2017-Q2. 2 of 7 entries say "Materialised", first in FY2017-Q3. Latest entry: FY2019.
No other company in this theme has enough history to compare yet.
- FY2019WorsenedAnnual report
「This was mainly due to a ¥1,147 million increase from the start of operations at new hotels and other factors in the hotel operations business, despite a ¥2,300 million decrease in membership rights revenue in the golf operations business.」
Membership rights revenue declined by ¥2.3 billion, emerging as a factor behind the declines in the golf operations business and consolidated net sales. - FY2018MaterialisedAnnual report
「As stable earnings could not be secured in the brokerage business for resort and golf membership rights, the company decided to suspend the business temporarily in light of market conditions for the time being.」
The prolonged downturn in the membership rights market and difficulty securing earnings have affected actual business operations, resulting in the temporary suspension of the brokerage business. - FY2018-Q2RestatedAnnual report
「Despite weak market conditions for golf and resort membership rights, the company is focusing on sales activities centered on corporate transactions, where stable demand and profitability are expected, as well as」
The company continues to assume weak market conditions for membership rights and is responding through sales activities centered on corporate transactions. - FY2018-Q1RestatedAnnual report
「In the resort-related business, despite weak market conditions for golf and resort membership rights, the company is focusing on sales activities centered on corporate transactions, where stable demand and profitability are expected, as well as」
The company continues to assume weak market conditions for golf and resort membership rights and is responding through sales activities centered on corporate transactions. - FY2017WorsenedAnnual report
「In the golf membership rights business, both transaction volume and per-transaction prices have been trending downward due to the decline in the golfing population and weak market conditions.」
The company states that transaction volume and per-transaction prices are both trending downward due to the continued market downturn and the declining golfing population, indicating that the risk factors are broadening. - FY2017-Q3MaterialisedAnnual report
「Sales of golf and resort memberships remained sluggish amid the continuing weakness in the market.」
The Company stated that, in addition to the continuing weakness in the membership-rights market, sluggish sales became a factor behind the decline in net sales. - FY2017-Q2First statedAnnual report
「In the golf and resort membership-rights business, amid a sluggish market, the Company focused on capturing corporate replacement demand and trading demand from affluent individuals.」
The Company explicitly identified the sluggish membership-rights market for the first time as a risk to capturing demand.