Financial exposure due to increases in real estate for sale and borrowings
First written in FY2023-Q1. 11 of 18 entries say "Worsened", first in FY2023-Q2. Latest entry: 2026-10-15.
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- 2026-10-03Mitigatednewspicks.com
「property technologies - Notice concerning the sale of property held for sale by a consolidated subsidiary」
The sale of property held for sale by a consolidated subsidiary was disclosed, reportedly reducing the balance of property held for sale and the associated financial exposure. - FY2026-H1WorsenedAnnual report
「Total liabilities at the end of the current interim consolidated fiscal period were ¥36,511.601 million, an increase of ¥1,332.378 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥2,121.801 million in short-term borrowings and ¥517.928 million in advances received for uncompleted construction, while long-term borrowings, including current maturities, decreased by ¥718.186 million, income taxes payable decreased by ¥196.115 million, and accounts payable decreased by ¥161.997 million.」
Short-term borrowings and total liabilities increased, expanding financial exposure from borrowings. Properties held for sale decreased, while work in progress for properties held for sale increased. - 2026-04-14OtherFinancial results briefing materials
「Inventories 24,105 24,312 27,998 27,699 28,996 26,980 28,702 31,687 31,491 32,338 34,789 34,522 33,486 Interest-bearing debt 24,258 24,829 28,846 27,355 28,467 25,874 26,874 29,925 29,061 29,194 31,261 31,168 31,275」
From the end of the fiscal year ending November 2025 through the first quarter of the fiscal year ending November 2026, inventories declined from ¥34,522 million to ¥33,486 million, while interest-bearing debt increased from ¥31,168 million to ¥31,275 million. Financial exposure from inventory holdings and borrowing moved in different directions. - FY2025Inventory increase and short-term borrowing increase; dependency ratio decreaseAnnual report
「Fiscal year ending November 2024 Fiscal year ending November 2025 Interest-bearing debt at period-end (¥ thousand) 29,925,900 31,168,547 Total assets at period-end (¥ thousand) 40,791,956 43,570,217 Interest-bearing debt dependency ratio (%) 73.4 71.5」
Properties held for sale increased from ¥23,762.725 million to ¥28,576.359 million, and short-term borrowings also increased, while the interest-bearing debt dependency ratio decreased from 73.4% to 71.5%. Financial exposure showed mixed movements. - FY2025-H1Inventory increase and liabilities decreaseAnnual report
「Total assets at the end of the current interim consolidated fiscal period were ¥40,875.587 million, an increase of ¥83.631 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥2,434.981 million in properties held for sale, while marketable securities held for operating investment purposes decreased by ¥2,301.980 million and goodwill decreased by ¥52.041 million. Total liabilities were ¥33,037.120 million, a decrease of ¥277.719 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥672.047 million in advances received for uncompleted construction and ¥463.083 million in short-term borrowings, while accounts payable decreased by ¥420.012 million and long-term borrowings, including current maturities, decreased by ¥1,083.615 million.」
Properties held for sale and short-term borrowings increased, while total liabilities, including long-term borrowings, decreased, resulting in mixed movements in financial exposure from inventory holdings and borrowings. - FY2024-Q2MitigatedAnnual report
「Total assets at the end of the second quarter of the current consolidated fiscal period were ¥35,696.646 million, a decrease of ¥2,378.395 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥899.477 million in cash and deposits, ¥199.431 million in properties held for sale and ¥468.316 million in work in progress for properties held for sale. Total liabilities were ¥28,838.944 million, a decrease of ¥2,115.661 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥891.081 million in short-term borrowings, ¥586.770 million in accounts payable, ¥441.179 million in long-term borrowings, including current maturities, and ¥149.000 million in bonds, including current maturities.」
Properties held for sale, work in progress for properties held for sale, and short- and long-term borrowings decreased from the end of the previous consolidated fiscal year, reducing financial exposure from inventory holdings and borrowings. - FY2024-Q1WorsenedAnnual report
「Total assets at the end of the first quarter of the current consolidated fiscal period were ¥37,828.873 million, a decrease of ¥246.169 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥1,852.194 million in properties held for sale, while cash and deposits decreased by ¥1,646.042 million, work in progress for properties held for sale decreased by ¥510.246 million, and goodwill decreased by ¥44.046 million. Total liabilities were ¥31,108.287 million, an increase of ¥153.680 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥1,198.317 million in short-term borrowings, while accounts payable decreased by ¥633.763 million, income taxes payable decreased by ¥122.302 million, and advances received for uncompleted construction decreased by ¥124.109 million.」
Properties held for sale increased by ¥1,852.194 million and short-term borrowings by ¥1,198.317 million, while cash and deposits decreased by ¥1,646.042 million. Although total assets decreased, financial exposure from inventory holdings and borrowings continued and expanded. - FY2023WorsenedAnnual report
「Interest-bearing debt at period-end (¥ million) 21,512.8 27,355.78 Total assets at period-end (¥ million) 30,925.758 38,075.042 Interest-bearing debt dependency ratio (%) 69.6 71.8」
As properties held for sale increased, interest-bearing debt rose year on year, and the interest-bearing debt dependency ratio increased from 69.6% to 71.8%. - FY2023-Q3WorsenedAnnual report
「Total assets at the end of the third quarter of the current consolidated fiscal period were ¥40,024.217 million, an increase of ¥9,098.458 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥1,127.467 million in cash and deposits, ¥6,996.946 million in properties held for sale and ¥337.559 million in work in progress for properties held for sale, while goodwill decreased by ¥132.138 million. Total liabilities were ¥33,261.487 million, an increase of ¥7,602.112 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥5,439.961 million in short-term borrowings, ¥1,736.526 million in long-term borrowings and ¥914.315 million in advances received for uncompleted construction, while income taxes payable decreased by ¥493.170 million.」
Properties held for sale increased by ¥6,996.946 million, short-term borrowings by ¥5,439.961 million and long-term borrowings by ¥1,736.526 million from the end of the previous fiscal year, further expanding the scale of assets and liabilities. - FY2023-Q2WorsenedAnnual report
「Total assets at the end of the second quarter of the current consolidated fiscal period were ¥35,377.085 million, an increase of ¥4,451.326 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥580.548 million in cash and deposits, ¥3,577.515 million in properties held for sale and ¥428.048 million in work in progress for properties held for sale, while goodwill decreased by ¥88.092 million. Total liabilities were ¥28,524.307 million, an increase of ¥2,864.933 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥3,442.543 million in short-term borrowings and ¥64.273 million in advances received for uncompleted construction, while income taxes payable decreased by ¥204.873 million, long-term borrowings, including current maturities, decreased by ¥35.764 million, and bonds, including current maturities, decreased by ¥89.000 million.」
Properties held for sale, work in progress for properties held for sale and short-term borrowings increased further from the end of the previous consolidated fiscal year, quantifying the financial exposure. - FY2023-Q1First statedAnnual report
「This was mainly due to increases of ¥3,524.525 million in properties held for sale and ¥230.254 million in work in progress for properties held for sale, while cash and deposits decreased by ¥793.149 million and goodwill decreased by ¥44.046 million. This was mainly due to increases of ¥2,447.387 million in short-term borrowings and ¥451.964 million in long-term borrowings, including current maturities, while advances received for uncompleted construction decreased by ¥16.874 million and bonds, including current maturities, decreased by ¥153.000 million.」
Increases in properties held for sale, work in progress for properties held for sale, and short- and long-term borrowings are described as changes in the financial position.