Dependence on the creditworthiness and services provided by participants in the trust scheme
First written in FY2027-H1. 1 of 2 entries say "Restated". Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026RestatedAnnual report
「These beneficial interests are financial products intended to invest substantially in real estate through a beneficial interest certificate-issuing trust and a real estate management and disposition trust structure (the scheme). Numerous scheme participants, including the settlor, trustee, subordinated beneficiary, asset manager and service providers engaged by the trustee of the beneficial interest certificate-issuing trust, the settlor, trustee and service providers engaged by the trustee of the real estate management and disposition trust, and the platform provider, are intricately involved in various roles. The income and value of these beneficial interests and the continued existence of the beneficial interest certificate-issuing trust and real estate management and disposition trust structure depend on these scheme participants.」
The disclosure continues to describe the risk of dependence on the settlor, trustee, asset manager, master lease company, lenders and platform provider, among others. - FY2027-H1First statedAnnual report
「These beneficial interests are financial products intended to invest substantially in real estate through a beneficial interest certificate-issuing trust and a real estate management and disposition trust structure (the scheme). Numerous scheme participants, including the settlor, trustee, subordinated beneficiary, asset manager and service providers engaged by the trustee of the beneficial interest certificate-issuing trust, the settlor, trustee and service providers engaged by the trustee of the real estate management and disposition trust, and the platform provider, are intricately involved in various roles. The income and value of these beneficial interests and the continued existence of the beneficial interest certificate-issuing trust and real estate management and disposition trust structure depend on these scheme participants.」
The disclosure organized the risk that the value of the product and the continued existence of the scheme depend on the creditworthiness and service provision of Credit Saison, Mizuho Trust & Banking, the asset manager, the master lease company, Securitize and others.