Full-scale entry into the shipowning business to respond to fluctuations in demand for new vessels
First written in FY2021. 2 of 5 entries say "Advanced", first in FY2022-Q3. Latest entry: FY2023-Q3.
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- FY2023-Q3RestatedAnnual report
「The results for the cumulative period include approximately ¥10 billion in revenue and approximately ¥1.3 billion in resale gains from two vessels sold upon completion in the previous fiscal year by an overseas subsidiary with a different fiscal year-end from ours, as well as foreign exchange losses arising from the consolidated accounting treatment for this project.」
The company has reconfirmed that, under the sale-at-completion scheme for 2 vessels built for overseas subsidiaries, approximately ¥10 billion in net sales and approximately ¥1.3 billion in gains on resale were recorded during the cumulative period. - FY2023-Q2RestatedAnnual report
「Revenue from two vessels sold by an overseas subsidiary with a different fiscal year-end from ours upon completion in the previous fiscal year was added, bringing revenue to ¥66,403 million, an increase of ¥29,224 million year on year.」
Approximately ¥10 billion in revenue from the sale upon completion of two vessels built for an overseas subsidiary was recognised in the current period. This reconfirms the operating results of the construction-and-sale scheme related to the shipowning business. - FY2023-Q1AdvancedAnnual report
「Revenue of approximately ¥10 billion and resale gains of approximately ¥1.3 billion from two vessels built for an overseas subsidiary and resold upon completion in the fourth quarter of the previous consolidated fiscal year were recognised in the first-quarter consolidated cumulative period because the subsidiary’s fiscal year-end differs from ours.」
A shipowning-related scheme involving the resale upon completion of two vessels built for an overseas subsidiary was implemented in practice, generating approximately ¥10 billion in revenue and approximately ¥1.3 billion in resale gains. - FY2022-Q3AdvancedAnnual report
「In addition, to avoid accepting orders when newbuild prices are extremely low, five vessels currently under construction under building contracts for our overseas subsidiaries and equity-method affiliates are not subject to revenue recognition based on the percentage of completion in the consolidated statements of income. If sold to external customers, the sales will be recognised as revenue of the vessel-owning company at the time of sale.」
To respond to fluctuations in newbuild demand and prices, five vessels are under construction for overseas subsidiaries and equity-method affiliates, and a construction-and-ownership structure related to the shipowning business is being operated in practice. - FY2021First statedAnnual report
「A full-scale expansion into the shipowning business is an important future issue, both to respond to changes in Japanese shipowners’ newbuild ordering behaviour resulting from shorter charter periods among Japanese ship operators and to secure stable operating volume, as well as to stabilise earnings from the newbuild business, where prices fluctuate sharply.」
The company has for the first time explicitly identified full-scale expansion into the shipowning business as an important issue, with the aim of responding to fluctuations in newbuild demand and prices and securing stable operating volume.