Full Acquisition of 有限会社福光 and Plan to Open a Cordia-Branded Hotel
First written in FY2022-Q2. 4 of 15 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2018: 1 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Other".
- FY2027-H1Post-Osaka-Kansai Expo reversal in hotel demand emerges as a decline in ratesAnnual report
「Hotel rates declined after the Osaka-Kansai Expo closed, resulting in lower revenue and profit.」
The previously disclosed challenge of responding to the post-Osaka-Kansai Expo reversal in demand has now emerged as a decline in hotel rates and lower revenue and profit. - FY2026ReframedAnnual report
「In the real estate business, a stable source of earnings, we will improve profitability through renovations of rental properties and address the correction in demand following the closing of the Osaka-Kansai Expo, thereby working to restore utilization in the hotel division and secure stable earnings.」
The operating policy has been organized around renovations of leasing assets and measures to address the reversal in demand following the Osaka-Kansai Expo, in addition to explanations of the hotel opening and recovery in operations. - FY2026-H1RestatedAnnual report
「The hotel business remained solid, supported in part by the Osaka-Kansai Expo, and both revenue and profit increased.」
In the hotel business, the Company has continued the direction of recovering and strengthening operations from the previous fiscal year, with revenue and profit increasing, supported in part by the Osaka-Kansai Expo. - FY2024ReframedAnnual report
「In the real estate business, a stable source of revenue, we will enhance the hotel division by adding value to leasing assets held under our conservative holding policy and capturing inbound demand, which is on a recovery trend, and will continue securing stable revenue.」
The operating policy has become more specific, moving from explanations of the hotel opening plan and operating conditions to strengthening the hotel division by adding value to leasing assets and capturing inbound demand. - FY2024-Q3RestatedAnnual report
「In the real estate business, occupancy rates for commercial buildings, condominiums and other properties held by the leasing division remained firm, while operating conditions in the hotel business also remained solid.」
The Company reconfirmed that operating conditions in the real estate business, including the hotel business, remained solid. - FY2024-Q2RestatedAnnual report
「In addition to firm occupancy rates for commercial buildings, condominiums and other properties held by the leasing division, operating conditions in the hotel business also showed a recovery.」
The Company reconfirmed operating conditions in the real estate business, including the recovery in hotel business operations. - FY2023AdvancedAnnual report
「In the real estate business, occupancy rates for commercial buildings, condominiums and other properties held by the leasing division remained firm, and operating conditions in the hotel business also showed a recovery.」
Following the plan to open a Kordia-brand hotel, a recovery in hotel business operating conditions was reported. - FY2022RestatedAnnual report
「In addition, due in part to initial costs associated with opening the hotel, revenue for and profit from the business as a whole increased and decreased, respectively.」
Regarding the plan to open a Kordia-brand hotel, initial costs associated with the opening were confirmed for the full fiscal year, but the completion of the opening itself was not reported. - FY2022-Q3AdvancedAnnual report
「Initial costs associated with opening the hotel were also incurred.」
In connection with the plan to open a Kordia-brand hotel, initial costs associated with the opening were reported for the cumulative third quarter. The completion of the hotel opening itself was not reported. - FY2022-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 25 June 2021, the Company resolved to acquire additional shares in its subsidiary, 有限会社福光, making it a wholly owned subsidiary. After acquiring the additional shares on 28 June 2021, the Company changed the subsidiary's name to 株式会社コルディア on the same date. The Company had acquired shares through a joint investment on 1 March 2018 for the purpose of constructing a hotel on land owned by 有限会社福光 in Hommachi, Chuo-ku, Osaka. Following discussions between the Company and its co-investor regarding the future direction of the business, the Company decided to acquire all shares in 有限会社福光 and make it a wholly owned subsidiary. The Company plans to open a hotel under the “Kordia” brand on the planned construction site.」
The Company made 有限会社福光, which operates a real estate leasing business, a wholly owned subsidiary on 28 June 2021 and disclosed for the first time specific plans to open a Kordia-brand hotel at the planned construction site. The acquisition cost was ¥537 million.