Risk of Value Fluctuations and Impairment Losses on Real Estate Used for Product Structuring
First written in FY2020. 11 of 20 entries say "Worsened", first in FY2021-Q3. Latest entry: 2026-09-14.
Financial Partners Group moved to the "Worse" side of this theme in 2022, the same year as the typical company in this theme.
The whole theme swung hardest in 2026: 20 of 35 companies on the "Worse" side.
9 other companies' latest entry also says "Mitigated".
- FY2026-H1WorsenedAnnual report
「Real estate held for fund formation increased from the end of the previous fiscal year, partly because 4 properties were formed.」
Real estate held for domestic fund formation increased from ¥46,598 million to ¥58,911 million, an increase of ¥12,313 million. The formation of 4 properties expanded pre-sale exposure to property holdings. - FY2025MitigatedAnnual report
「While the Company continued forming projects, including the acquisition in June 2025 of land for the large-scale Jingu-mae 5-chome project, it also continued active sales, including significantly exceeding the previous full-year sales record. As a result, real estate held for fund formation decreased from the end of the previous fiscal year.」
Real estate held for domestic fund formation declined from ¥68,332 million at the end of the previous fiscal year to ¥46,598 million, reducing exposure to property holdings and valuation losses as sales progressed. Meanwhile, the Company continued acquiring land for new development projects. - FY2025-H1MitigatedAnnual report
「While the Company continued actively forming projects to meet strong investor demand, it also promoted active sales, including setting a new record for sales in an interim consolidated accounting period for the second consecutive year. As a result, real estate held for fund formation decreased from the end of the previous fiscal year.」
Real estate held for domestic fund formation declined from ¥68,332 million to ¥45,985 million, reducing holding exposure through active sales. - FY2024WorsenedAnnual report
「The Company successively formed large-scale projects comprising one floor of GINZA SIX in March 2024 and two floors of Roppongi Hills Mori Tower in June 2024. As a result, formation volume reached a record ¥115,880 million for the full fiscal year, up 146.2% year on year.」
The formation of large-scale projects increased real estate held for fund formation from ¥37,630 million to ¥68,332 million, expanding exposure to property holdings and valuation losses before sale. - FY2024-Q2WorsenedAnnual report
「To secure inventory for growth from the next fiscal year onward, the Company continued actively forming projects, including a single floor of GINZA SIX in March 2024, one of its largest-ever large-scale projects. As a result, real estate held for fund formation increased from the end of the previous fiscal year.」
Real estate held for domestic fund formation increased from ¥37,630 million at the end of the previous fiscal year to ¥48,144 million, an increase of ¥10,513 million. The formation of one floor of GINZA SIX, one of the largest projects in the Company's history, expanded pre-sale holding exposure. - FY2023Real estate held for fund formation reached a record highAnnual report
「To further expand its domestic real estate business, the Company secured record-high fiscal year-end inventory to meet strong investor demand, including through the formation in October 2022 of FPG Links Shibuya Dogenzaka, its largest-ever large-scale project. As a result, real estate held for fund formation increased from the end of the previous fiscal year.」
Real estate held for fund formation increased from ¥31,632 million at the end of the previous fiscal year to ¥37,630 million, securing a record-high fiscal year-end inventory level. Exposure to property holdings before sale reached a high level. - FY2023-Q3Real estate held for fund formation remained at a high levelAnnual report
「To further expand its domestic real estate business, the Company secured inventory to meet solid demand, including through the formation in October 2022 of FPG Links Shibuya Dogenzaka, its largest-ever large-scale project. As a result, real estate held for fund formation increased from the end of the previous fiscal year.」
The Company secured inventory to meet strong demand, bringing real estate held for fund formation to ¥52,181 million, up ¥20,548 million from the end of the previous fiscal year. - FY2023-Q2Real estate held for fund formation remained at a high levelAnnual report
「To further expand its domestic real estate business, the Company acquired new properties to secure ample inventory, including the formation in October 2022 of FPG Links Shibuya Dogenzaka, its largest-ever large-scale project. As a result, formation volume reached a record high even on a six-month basis, and real estate held for fund formation increased from the end of the previous fiscal year.」
Real estate held for domestic fund formation totaled ¥52,915 million, an increase from the end of the previous fiscal year. Although it declined from the end of the previous quarter, the Company continued to hold a high level of inventory, including its largest-ever project. - FY2023-Q1WorsenedAnnual report
「To further expand its domestic real estate business, the Company acquired new properties to secure sufficient inventory to meet strong demand, including the formation in October 2022 of FPG Links Shibuya Dogenzaka, its largest-ever large-scale project. As a result, formation volume reached a record high even on a six-month basis, and real estate held for fund formation increased from the end of the previous fiscal year.」
The Company acquired new properties to meet strong demand, increasing real estate held for fund formation from ¥31,632 million at the end of the previous fiscal year to ¥60,446 million. Exposure to property holdings and valuation losses also expanded alongside higher sales. - FY2022WorsenedAnnual report
「To further expand the real estate fund business, the Company actively acquired new properties to secure sufficient inventory to meet strong demand, resulting in an increase in real estate held for fund formation from the end of the previous fiscal year.」
Real estate held for fund formation increased from ¥19,227 million at the end of the previous fiscal year to ¥31,632 million, an increase of ¥12,404 million. Although sales remained strong, exposure to property holdings and valuation losses expanded due to the acquisition of new properties. - FY2022-Q3WorsenedAnnual report
「Although sales progressed well, real estate held for fund formation increased from the end of the previous fiscal year as the Company newly acquired 3 properties during the third quarter.」
The Company newly acquired 3 properties during the third quarter alongside strong sales, bringing real estate held for fund formation to ¥28,589 million, up ¥9,361 million from the end of the previous fiscal year. Exposure to property holdings and valuation losses expanded. - FY2022-Q2WorsenedAnnual report
「Although sales progressed well, real estate held for fund formation increased from the end of the previous fiscal year as the Company newly acquired a total of 4 properties during the second quarter, led by its largest-ever property, FPG Minami-Aoyama Blue Sank Point.」
Alongside strong sales, 4 properties were newly acquired, increasing real estate held for fund formation from ¥19,227 million at the end of the previous fiscal year to ¥28,886 million, an increase of ¥9,658 million. Exposure to property holdings and valuation losses expanded. - FY2022-Q1MitigatedAnnual report
「Properties acquired for structuring decreased from the previous fiscal year-end as sales progressed strongly.」
Real estate held for fund formation declined from ¥19,227 million at the end of the previous fiscal year to ¥9,419 million due to strong sales, reducing exposure to property holdings and valuation losses. - FY2021-Q3WorsenedAnnual report
「Properties acquired for structuring increased from the previous fiscal year-end because, despite strong sales, the company proceeded with property acquisitions for new projects, including in-house development projects.」
Properties acquired for structuring increased from ¥2,213 million at the previous fiscal year-end to ¥4,845 million as the company proceeded with property acquisitions for new projects. Inventory was being sold down on strong sales while new acquisitions were made. - FY2021-Q1MitigatedAnnual report
「Although a property at FPG Links Shinjuku Terrace was acquired as a new project, all inventory of properties acquired for structuring was sold out as sales progressed strongly.」
While a new project was acquired, strong sales resulted in all inventory of properties acquired for structuring being sold out. The company's exposure to holdings of, and valuation losses on, properties acquired for structuring declined. - FY2020First statedAnnual report
「However, if the economic environment changes rapidly or the assets cannot be transferred as initially expected, their value may fluctuate and, in some cases, the recognition of valuation losses or other factors could affect our group's results.」
For properties acquired for structuring real estate fractional ownership products, the company separately disclosed the risks of value fluctuations and valuation losses caused by delays in transfers or changes in the economic environment.