Declining profitability and impairment of investment property
First written in FY2017. 4 of 6 entries say "Mitigated", first in FY2018. Latest entry: FY2020-Q3.
The whole theme swung hardest in 2017: 32 of 70 companies on the "Worse" side.
- FY2020-Q3MitigatedAnnual report
「Partial renovations of commercial facilities and other factors contributed to revenue of ¥978 million, up 9.0% year on year, and operating profit of ¥264 million, up 18.3%.」
Continued contributions from partial renovations of commercial facilities resulted in higher revenue and profit in the real estate-related business. - FY2020-Q2MitigatedAnnual report
「Partial renovations of commercial facilities and other factors contributed to revenue of ¥663 million, up 9.7% year on year, and operating profit of ¥194 million, up 28.8%.」
Partial renovations of commercial facilities contributed to higher revenue and profit in the real estate-related business. - FY2020-Q1WorsenedAnnual report
「Revenue from this business remained solid at ¥320 million, up 6.5% year on year, but operating profit fell 40.2% to ¥43 million due to higher operating costs for commercial facilities.」
Real estate-related revenue increased, but operating profit fell 40.2% year on year due to higher operating costs for commercial facilities. - FY2019-Q1MitigatedAnnual report
「Revenue from this business was ¥300 million, down 7.0% year on year, and segment profit was ¥73 million, down 17.7%. Excluding temporary real estate income recorded in the previous fiscal year, performance remained generally solid.」
Although real estate-related revenue and profit declined year on year, the company explained that performance was generally solid excluding temporary real estate income recorded in the previous fiscal year. - FY2018MitigatedAnnual report
「Due to the impact of the transfer of income-producing real estate in Kanagawa Prefecture in March 2017, revenue from this business was ¥1,215 million, down 7.6% year on year, while segment profit rose 1.9% to ¥329 million due to lower depreciation expense on existing real estate.」
Following the transfer of the income-producing real estate, no new major impairment loss related to real estate was recorded during the year, and profit increased due to lower depreciation expense on existing real estate. - FY2017MaterialisedAnnual report
「The Company recorded a gain on the sale of fixed assets resulting from the disposal of investment property under extraordinary gains and an impairment loss on fixed assets comprising investment property due to declining profitability under extraordinary losses. As a result, net income attributable to owners of the parent was ¥1,882 million, down 29.6% year on year.」
The disposal of investment property and impairment due to declining profitability actually occurred and contributed to the decrease in net income attributable to owners of the parent.