Increase in depreciation, initial investment and finance costs associated with the expansion of real estate investment
First written in FY2018-Q3. 29 of 30 entries say "Advanced", first in FY2019-Q1. Latest entry: 2026-08-13.
0 other companies' latest entry also says "Advanced".
- 2026-08-13AdvancedEarnings
「Depreciation ¥285,089 thousand ¥351,329 thousand」
Depreciation increased from ¥285.089 million in the same period of the previous year to ¥351.329 million, as the depreciation burden continued to rise with the acquisition and expansion of real estate holdings. - FY2026AdvancedAnnual report
「Depreciation and other amortization expenses ¥1.278 billion」
Depreciation and other amortization expenses increased from ¥1.134 billion in the previous fiscal year to ¥1.278 billion as real estate investment expanded. - 2026-05-13AdvancedEarnings
「Depreciation and other amortization increased from ¥1.134 billion in the same period of the previous year to ¥1.278 billion.」
The depreciation burden increased further as real estate holdings expanded. - FY2026-H1AdvancedAnnual report
「Depreciation and other amortization expenses 538,955 612,428」
Depreciation and other amortization expenses increased from ¥538.955 million in the same period of the previous year to ¥612.428 million, and the depreciation burden associated with the expansion of real estate holdings continued. - FY2025AdvancedAnnual report
「Depreciation and other amortization expenses 710,418 1,134,046」
Depreciation and other amortization expenses increased from ¥710 million in the previous fiscal year to ¥1.134 billion, expanding the depreciation burden associated with the growth in real estate holdings. Amortization of goodwill also increased from ¥6 million in the previous fiscal year to ¥72 million. - FY2025-H1AdvancedAnnual report
「Depreciation and other amortization expenses 341,831 538,955」
Depreciation and other amortization expenses increased from ¥341.831 million in the same period of the previous year to ¥538.955 million. The depreciation burden associated with the expansion of real estate holdings continues to increase. - FY2024AdvancedAnnual report
「Cash flow from operating activities for the consolidated fiscal year amounted to an inflow of ¥8.604 billion. This was mainly attributable to profit before income taxes of ¥5.792 billion and depreciation expense of ¥710 million」
Depreciation and other amortization expenses increased to ¥710 million, from ¥618 million in the previous fiscal year, as the company expanded its real estate holdings. - FY2024-Q3AdvancedAnnual report
「Depreciation expense 450,343 533,745」
Depreciation expense for the cumulative third quarter amounted to ¥533.745 million, up from ¥450.343 million in the same period of the previous year. The depreciation burden associated with the expansion of real estate holdings continues to increase. - FY2024-Q2AdvancedAnnual report
「Depreciation and other amortization expenses 294,513 341,831」
Depreciation and other amortization expenses for the cumulative second quarter amounted to ¥341.831 million, up from ¥294.513 million in the same period of the previous year. The depreciation burden associated with the expansion of real estate holdings continues to increase. - FY2024-Q1AdvancedAnnual report
「Depreciation expense ¥141,544 thousand ¥179,352 thousand」
Depreciation expense increased from ¥141.544 million in the same period of the previous year to ¥179.352 million. The depreciation burden associated with the acquisition and expansion of holdings of income-producing real estate continues to increase. - FY2023AdvancedAnnual report
「Depreciation expense and other amortization 455,807 618,064」
Depreciation expense and other amortization increased from ¥455 million in the previous fiscal year to ¥618 million, with the depreciation burden associated with expanded income-producing real estate holdings continuing to increase. - FY2023-Q3AdvancedAnnual report
「Depreciation expense ¥323.306 million ¥450.343 million」
Depreciation expense for the nine months ended ... was ¥450.343 million, up from ¥323.306 million in the year-earlier period. The depreciation burden associated with expanded real estate holdings continued to increase. - FY2023-Q2AdvancedAnnual report
「Depreciation expense and other amortization 202,787 294,513」
Depreciation expense and other amortization for the six months ended ... was ¥294.513 million, up from ¥202.787 million in the year-earlier period. The depreciation burden associated with expanded real estate holdings continued to increase. - FY2023-Q1AdvancedAnnual report
「Depreciation expense ¥99.879 million ¥141.544 million」
First-quarter depreciation expense increased from ¥99.879 million in the year-earlier period to ¥141.544 million, with the depreciation burden associated with expanded income-producing real estate holdings continuing to increase. - FY2022AdvancedAnnual report
「Depreciation expense for the consolidated fiscal year was ¥455 million.」
Depreciation expense increased from ¥330 million in the previous fiscal year to ¥455 million, with the depreciation burden associated with expanded real estate investment continuing to increase. - FY2022-Q3AdvancedAnnual report
「Depreciation expense ¥214.714 million ¥323.306 million」
Depreciation expense for the nine months ended ... increased from ¥214.714 million in the year-earlier period to ¥323.306 million, with the depreciation burden associated with expanded income-producing real estate holdings continuing to increase. - FY2022-Q2AdvancedAnnual report
「Depreciation expense and other amortization 134,802 202,787」
Depreciation expense and other amortization for the six months ended ... amounted to ¥202.787 million as reported, not ¥227 million, up from ¥134.802 million in the year-earlier period. The depreciation burden associated with expanded real estate holdings continued to increase. - FY2022-Q1AdvancedAnnual report
「Depreciation expense ¥63.481 million ¥99.879 million」
First-quarter depreciation expense increased from ¥63.481 million in the year-earlier period to ¥99.879 million, with the depreciation burden associated with expanded income-producing real estate holdings continuing to increase. - FY2021AdvancedAnnual report
「Net cash provided by operating activities for the consolidated fiscal year was ¥219 million. This mainly reflected pretax net income of ¥1,186 million, depreciation expense of ¥330 million and ¥178 million of tax refunds, offset by payments of ¥282 million for loans receivable, ¥528 million for property held for sale under development, ¥122 million for inventories, and ¥269 million for corporate income taxes and other taxes, among other items.」
Depreciation expense was ¥330 million, with the depreciation burden associated with expanded real estate investment continuing to increase. - FY2021-Q3AdvancedAnnual report
「Depreciation expense ¥149.365 million ¥214.714 million」
Depreciation expense for the nine months ended ... was ¥214.714 million, up from ¥149.365 million in the year-earlier period. The depreciation burden associated with expanded income-producing real estate holdings continued to increase. - FY2021-Q2AdvancedAnnual report
「Net cash provided by operating activities for the six months ended ... was ¥237 million. This mainly reflected pretax quarterly net income of ¥332 million and depreciation expense of ¥134 million, as well as ¥178 million of tax refunds and ¥279 million of other receipts, offset by payments of ¥95 million for loans receivable, ¥375 million for property held for sale under development, and ¥214 million for corporate income taxes and other taxes, among other items.」
Depreciation expense for the six months ended ... was ¥134 million, up from ¥92.216 million in the year-earlier period. The depreciation burden associated with expanded real estate holdings continued to increase. - FY2021-Q1AdvancedAnnual report
「Depreciation expense ¥44.103 million ¥63.481 million」
First-quarter depreciation expense increased from ¥44.103 million in the year-earlier period to ¥63.481 million, with the depreciation burden continuing to rise as the income-producing real estate holdings balance expanded. - FY2020AdvancedAnnual report
「The gross profit margin declined 1.93 percentage points from the previous consolidated fiscal year to 82.27%, as cost of sales of ¥305 million, up 67.1% year on year, was recorded due mainly to higher depreciation on buildings and other assets as rental real estate increased in the real estate leasing business.」
Expanded real estate investment drove cost of sales to ¥305 million, up 67.1% year on year, increasing the burden from depreciation and other costs. Interest expense and borrowing fees also increased. - FY2020-Q3AdvancedAnnual report
「Depreciation expense ¥80.451 million ¥149.365 million」
Depreciation expense for the nine months ended ... was ¥149.365 million, up from ¥80.451 million in the year-earlier period. The figures show the increase in the depreciation burden associated with the expansion of the real estate holdings balance. - FY2020-Q2AdvancedAnnual report
「Net cash used in operating activities for the six months ended ... was ¥2,335 million. This mainly reflected pretax net income of ¥297 million and depreciation expense of ¥92 million, offset by payments of ¥2,055 million for loans receivable, ¥552 million for property held for sale under development, and ¥212 million for corporate income taxes and other taxes, among other items.」
Depreciation expense for the six months ended ... was ¥92 million, up from ¥52 million in the year-earlier period. The figures confirm the higher depreciation burden associated with expanded real estate holdings and operating cash outflows from increases in loans receivable and property held for sale under development. - FY2020-Q1AdvancedAnnual report
「Depreciation expense ¥25.183 million ¥44.103 million」
Depreciation expense increased from ¥25.183 million in the year-earlier period to ¥44.103 million in the current quarter. The figures confirm the increase in the depreciation burden associated with the expansion of the real estate holdings balance. - FY2019AdvancedAnnual report
「Gross profit for the consolidated fiscal year was ¥975 million, up 99.7% year on year. The gross profit margin declined 4.2 percentage points from the previous consolidated fiscal year to 84.20%, as cost of sales increased 184.2% year on year due mainly to higher depreciation on buildings in the real estate leasing business.」
Higher depreciation associated with expanded real estate investment drove cost of sales up 184.2% year on year, while gross profit increased to ¥975 million. Interest expense also increased to ¥182 million. - FY2019-Q2AdvancedAnnual report
「Due to higher depreciation associated with the expansion of the real estate leasing business, cost of sales increased 494.8% year on year. As a result, operating income for the six months ended ... was ¥267 million. Interest expense also increased due to higher long-term debt associated with the increase in the balance of real estate investments, but ordinary income was ¥164 million.」
Higher depreciation associated with the expansion of the real estate leasing business drove cost of sales up 494.8% year on year. Interest expense also continued to increase as long-term debt rose, while operating income and ordinary income remained positive. - FY2019-Q1AdvancedAnnual report
「Due to higher depreciation as the real estate leasing business expanded, cost of sales increased 597.3% year on year. As a result, operating income for the three months ended ... was ¥148 million. Interest expense also increased due to higher long-term debt associated with the increase in the balance of real estate investments, but ordinary income was ¥92 million.」
Higher depreciation associated with the expansion of the real estate leasing business increased cost of sales 597.3% year on year, while higher long-term debt associated with the expansion of the investment balance also increased interest expense. Operating income and ordinary income, however, remained positive. - FY2018-Q3First statedAnnual report
「As real estate investment projects increased, cost of sales rose 78.5% year on year and selling, general and administrative expenses rose 26.8%. Cost of sales increased because depreciation rose as the balance of investments in rental real estate expanded. Selling, general and administrative expenses increased because, as with cost of sales, initial investment costs associated with real estate investment, including real estate appraisal fees, engineering report preparation fees and trust account setup fees, increased. As a result, operating income for the nine months ended ... was ¥47 million, down 50.5% from the same period of the previous year. Similarly, the Group recorded an ordinary loss of ¥32 million for the nine months ended ..., as interest expense and finance-related costs increased due to higher long-term debt associated with the increase in the balance of real estate investments.」
The increase in the balance of real estate investments led to higher depreciation, initial investment costs such as appraisal fees, interest expense and finance-related costs, affecting operating income and ordinary income. This is described as a new structural factor.