Acceptance of Early Lease Termination for a Rental Property and Future Use of the Land
First written in FY2021-Q2. 3 of 11 entries say "Advanced", first in FY2021-Q3. Latest entry: FY2024-Q1.
The whole theme swung hardest in 2025: 1 of 12 companies on the "Worse" side.
17 other companies' latest entry also says "Achieved".
- FY2024-Q1AchievedAnnual report
「The gain on the sale of fixed assets recorded during the three-month period ended 30 June mainly arose from the sale of land in Nagoya, Aichi Prefecture.」
The sale of land in Nagoya, Aichi Prefecture, which had remained idle after the lease ended, was completed, and a gain on sale of fixed assets of ¥6,432 million was recognized. - FY2023-Q3AdvancedAnnual report
「The transferred assets had been leased as the site of a shopping center, but the real estate lease ended in April 2021, leaving the assets idle. The Company decided to transfer the assets to secure investment funds for sustainable growth.」
The execution of an agreement to transfer the land in Minato Ward, Nagoya, Aichi Prefecture, which had remained idle after the lease ended, and its scheduled handover in April 2023 became concrete. - FY2023-Q2Revenue declined but profit increased despite the impact of lease expirationsAnnual report
「In the Real Estate business, revenue declined 3.5% year on year to ¥542 million due mainly to the expiration of leases for certain properties, while segment profit increased 4.9% to ¥268 million due mainly to lower fixed asset tax following the demolition of assets whose leases had ended.」
Revenue continued to decline due to the expiration of certain leases, while segment profit increased due mainly to lower fixed asset tax following the demolition of assets whose leases had ended. - FY2023-Q1The decline in revenue and profit due to lease expirations continuedAnnual report
「In the Real Estate business, revenue declined 15.2% year on year to ¥265 million and segment profit declined 12.1% to ¥142 million, due mainly to the expiration of leases for certain properties.」
The decline in revenue and profit in the Real Estate business continued in the first quarter due to the expiration of certain leases and other factors. - FY2022Full-year revenue and profit declined due to lease expirationsAnnual report
「In the Real Estate business, revenue for the current consolidated fiscal year was ¥984 million, a decline of ¥830 million, or 45.8%, and segment profit was ¥439 million, a decline of ¥539 million, or 55.1%, due mainly to the expiration of leases for certain properties and other factors.」
Due to the expiration of certain leases and other factors, full-year revenue in the Real Estate business declined 45.8% and segment profit declined 55.1%. - FY2022-Q3The decline in revenue and profit due to lease expirations widenedAnnual report
「In the Real Estate business, revenue declined 42.7% year on year to ¥787 million and segment profit declined 55.1% to ¥333 million, due mainly to the expiration of leases for certain properties.」
Due to the expiration of leases for certain properties and other factors, the year-on-year declines in revenue and segment profit in the Real Estate business continued, with the rates of decline in both revenue and profit widening from the previous cumulative quarterly period. - FY2022-Q2Revenue and profit continued to decline due to lease expirationsAnnual report
「In the Real Estate business, revenue declined 38.4% year on year to ¥562 million and segment profit declined 43.1% to ¥256 million, due mainly to the expiration of leases for certain properties.」
Revenue and segment profit in the Real Estate business continued to decline due to the expiration of leases for certain properties and other factors. - FY2022-Q1AdvancedAnnual report
「In the Real Estate business, revenue declined 27.5% year on year to ¥312 million and segment profit declined 30.0% to ¥161 million, due mainly to the expiration of leases for certain properties.」
Following the expiration of leases for certain properties, revenue and segment profit in the Real Estate business declined year on year. The end of leases for rental properties and changes in the business mix have become more evident. - FY2021RestatedAnnual report
「For the current consolidated fiscal year, rental income and expenses from the relevant rental properties totaled ¥1,021 million in rental profit and loss. Rental income was recorded in revenue and non-operating income, while major rental expenses were recorded in cost of sales, selling, general and administrative expenses, and non-operating expenses. Impairment losses totaled ¥3,321 million and were recorded as extraordinary losses.」
For rental properties following acceptance of the tenants' early termination requests, the Company disclosed full-year results of ¥3,321 million in impairment losses and ¥1,021 million in rental profit and loss. - FY2021-Q3AdvancedAnnual report
「During the nine-month period of the current consolidated fiscal year, certain leases ended upon expiration and the properties were transferred to new lease agreements, among other developments,」
The Company stated that certain leases for rental properties ended upon expiration and that the properties were transferred to new lease agreements. - FY2021-Q2First statedAnnual report
「At a meeting of its Board of Directors held on 22 October 2020, the Company resolved to accept the tenant's request for early termination of the lease covering a property in Nagoya, Aichi Prefecture, comprising land and buildings used for a shopping center and other facilities, and to adopt a policy for future utilization of the land.」
The Company first provided specific details on the Board of Directors' resolution to accept the tenant's request for early termination and to establish a policy for future land utilization. The buildings and other assets scheduled for removal after early termination also led to the recognition of impairment losses on fixed assets.