Expansion of the Asset-Light Business and Entry into Real Estate Funds and Asset Management
First written in FY2022. 11 of 13 entries say "Advanced", first in FY2023-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2018: 1 of 6 companies on the "Worse" side.
10 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「In addition, during the current consolidated fiscal year, we established the Group’s first private real estate fund.」
Regarding entry into the non-asset and asset management businesses, we progressed beyond the acquisition and sale of properties to the stage of forming the Group's first privately placed real estate fund. - FY2026-H1AdvancedAnnual report
「In the out-of-airport real estate business, the sale of 1 office building in April and other factors resulted in net sales of ¥4,052 million, up 160.4% year on year, and segment income of ¥1,220 million, up 112.2%.」
In the out-of-airport real estate business, including the asset-light business, the company completed the sale of 1 office building in April, with the contribution to net sales and segment income shown in specific figures. - FY2025AdvancedAnnual report
「The out-of-airport real estate business began its asset-light operations in May 2022 and has acquired multiple office buildings, focusing on increasing the value of those properties. Following the sale of 1 office building and other factors, net sales were ¥6,372 million, up 112.9% year on year, and segment income was ¥1,476 million, up 25.7%.」
In the asset-light business, following the acquisition and value enhancement of multiple properties, the company completed the sale of 1 office building, contributing to net sales and segment income. - FY2025-H1AdvancedAnnual report
「On 27 September, the company newly acquired 1 office building in Naka-ku, Nagoya, as real estate held for sale.」
As part of its property acquisitions for the asset-light business, the company newly acquired 1 office building in Naka-ku, Nagoya, as real estate held for sale. - FY2024AdvancedAnnual report
「In the real estate business, revenue increased from office building leases involving properties acquired through initiatives in the asset-light business, one of the key measures under the medium- to long-term management plan: Hiroshima Motomachi NS Building (Naka-ku, Hiroshima) in March 2023, Shinjuku Yawaragi Building (Shinjuku-ku, Tokyo) in June, Gofuraikan (Aoi-ku, Shizuoka) in August, and Nihonbashi Hamacho 2-chome Building (Chuo-ku, Tokyo) in October.」
In the asset-light business, the company acquired 4 office buildings between March and October 2023, and their contribution to performance has emerged through increased rental income. - FY2024-Q2AdvancedAnnual report
「In the real estate business, revenue increased from office building leases involving properties acquired through active initiatives in the asset-light business, one of the key measures under the medium- to long-term management plan: Hiroshima Motomachi NS Building (Naka-ku, Hiroshima) in March 2023, Shinjuku Yawaragi Building (Shinjuku-ku, Tokyo) in June, and Gofuraikan (Aoi-ku, Shizuoka) in August. Revenue also increased from variable rents and parking income as economic activity recovered. However, revenue declined due in part to the impact of a rental hotel and an office building sold in February 2023, resulting in net sales of ¥9,767 million, down 0.6% year on year. As part of its active initiatives in the asset-light business, the company acquired Nihonbashi Hamacho 2-chome Building (Chuo-ku, Tokyo) and Ichibancho 27 Building (Chiyoda-ku, Tokyo) in October 2023. The company plans to enhance the value of these buildings and the previously acquired buildings listed in (1) through value-enhancement work.」
In the asset-light business, the company acquired 3 properties in March, June and August 2023, followed by 2 more in October. Rental income from the acquired properties increased, and the company has entered the stage of enhancing property values through value-enhancement work. - FY2024-Q1AdvancedAnnual report
「In the real estate business, revenue increased from office buildings acquired through initiatives in the asset-light business, one of the key measures under the medium- to long-term management plan, including the acquisition of Shinjuku Yawaragi Building as the second project in June 2023, while」
In the asset-light business, the company acquired Shinjuku Yawaragi Building as its second project in June 2023, resulting in increased revenue from the office building. AFC Asset Management also became a consolidated subsidiary from the current quarter as its significance increased, advancing the organizational and accounting foundation of the business. - FY2023-Q3RestatedAnnual report
「As part of its efforts to achieve the medium- to long-term management plan, the company established the specialist subsidiary 「ＡＦＣアセットマネジメント株式会社」 to steadily promote the expansion of the asset-light business, one of the plan’s key initiatives, and began operations in June, among other measures.」
The company continues to identify the establishment of AFC Asset Management and the start of operations in June as specific initiatives for expanding the asset-light business. - FY2023-Q1AdvancedAnnual report
「As part of its efforts to achieve the medium- to long-term management plan, the company established the specialist subsidiary 「ＡＦＣアセットマネジメント株式会社」 to steadily promote the expansion of the asset-light business, one of the plan’s key initiatives, and began operations in June.」
Regarding the expansion of the asset-light business and entry into the asset management business, the company established a specialist subsidiary and began operations in June. - FY2022First statedAnnual report
「(2) Expansion of the Asset-Light Business: In addition to seeking to increase fee income by leveraging the company’s expertise, we will acquire properties outside airports and build a portfolio of high-quality properties through value enhancement, with the aim of forming real estate funds and entering the asset management business.」
The company has for the first time explicitly identified as an integrated set of key initiatives the use of its expertise to generate fee income, acquisition and value enhancement of properties outside airports, formation of real estate funds and entry into the asset management business.