Decline in Holding Company Income Due to Deterioration in Operating Company Performance
First written in FY2017. 5 of 6 entries say "Restated". Latest entry: FY2023.
17 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「Our main sources of revenue are management advisory fees and real estate rental income paid to us by each of our consolidated operating-company subsidiaries, together with dividends paid by the operating companies based on their performance.」
The structure in which holding company revenue depends on management advisory fees, real estate rental income and dividends from operating companies remains in place. - FY2022RestatedAnnual report
「Our main sources of revenue are management advisory fees and real estate rental income paid to us by each of our consolidated operating-company subsidiaries, together with dividends paid by the operating companies based on their performance.」
The structure in which holding company revenue depends on management advisory fees, real estate rental income and dividends from operating companies remains in place. - FY2018RestatedAnnual report
「Our main sources of revenue are management advisory fees and real estate rental income paid to us by our wholly owned operating-company subsidiaries, together with dividends paid by the operating companies based on their performance.」
The risk associated with holding company revenue's dependence on management advisory fees, real estate rental income and dividends from operating companies remains present. - FY2018-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The review concludes that there have been no material changes in the risk of lower holding company revenue due to deteriorating performance at operating companies. - FY2018-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The review concludes that there have been no material changes in the risk of lower holding company revenue due to deteriorating performance at operating companies. - FY2017First statedAnnual report
「Our main sources of revenue are management advisory fees and real estate rental income paid to us by our wholly owned operating-company subsidiaries, together with dividends paid by the operating companies based on their performance. Accordingly, if the performance or financial condition of any operating company deteriorates to the point that it is unable to make these payments to us, this may affect our performance.」
The risk that deterioration in the performance or financial condition of subsidiaries will affect holding company performance has been newly identified, given that the holding company's main sources of revenue are management advisory fees, real estate rental income and dividends from wholly owned subsidiaries.