Establishment of Tosho REIT, Inc. and Preparations to Commence Asset Management
First written in FY2020-Q3. 9 of 13 entries say "Advanced", first in FY2020. Latest entry: FY2025.
No other company in this theme has enough history to compare yet.
- FY2025DroppedAnnual report
「During the current consolidated fiscal year, 東祥アセットマネジメント株式会社 was excluded from the scope of consolidation because all shares held by the company were transferred. In addition, 東祥投資事業有限責任組合 was excluded from the scope of consolidation because it was dissolved and liquidated.」
The transfer of all shares of the asset management company, the dissolution and liquidation of the investment business limited liability partnership, and the transfer of the investment units in 東祥東海リート投資法人 were completed, confirming the withdrawal from the asset management business in the annual disclosure. - FY2025-H1DroppedAnnual report
「東祥アセットマネジメント株式会社 was excluded from the scope of consolidation because all shares held by the company were transferred on 1 August 2024. 東祥東海リート投資法人 was excluded from the scope of application of the equity method because all interests held by our consolidated subsidiary 東祥投資事業有限責任組合 were transferred on 1 August 2024.」
All shares of 東祥アセットマネジメント and all interests in 東祥東海リート投資法人 were transferred, and both entities were excluded from the scope of consolidation and the equity method, respectively. The sponsor support agreement for the private REIT was also terminated, formalizing the withdrawal from the asset management business. - FY2024AdvancedAnnual report
「In the real estate business, centered on the rental apartment brand "A・City," we will plan and develop new services, including ancillary services, with the goal of achieving full occupancy at our rental apartments. At the same time, as a sponsor company of 東祥リート投資法人, we will develop and sell real estate while working to expand the scale of asset management by our subsidiary 東祥アセットマネジメント.」
The company has stated its policy of developing and selling real estate as a sponsor company of 東祥リート投資法人 and expanding the scale of asset management by 東祥アセットマネジメント. - FY2024-Q3AdvancedAnnual report
「Equity in earnings of affiliates 25,667 81,594」
Equity in earnings of affiliates increased from ¥25.667 million in the same period of the previous year to ¥81.594 million, expanding the earnings contribution from equity-method affiliates, including 東祥リート投資法人. - FY2024-Q2Continued equity-accounted investment profitsAnnual report
「Equity in earnings of affiliates 36,895 30,964」
Equity in earnings of affiliates of ¥30.964 million was recorded, and the earnings contribution from equity-method affiliates, including 東祥リート投資法人, continued. - FY2023AdvancedAnnual report
「Equity in earnings of affiliates 40,230」
Equity in earnings from equity-method affiliates, including 東祥東海リート投資法人, amounted to ¥40.230 million, increasing the earnings contribution from the previous fiscal year. - FY2023-Q2AdvancedAnnual report
「Equity in earnings of affiliates - 36,895」
Equity in earnings of affiliates of ¥36.895 million was recorded, with earnings contributions from equity-method affiliates, including 東祥リート投資法人, arising from zero in the same period of the previous year. - FY2023-Q1AdvancedAnnual report
「Equity in earnings of affiliates - 18,108」
Equity in earnings of affiliates, including 東祥リート投資法人, of ¥18.108 million was recorded in the first quarter, quantifying the earnings contribution following the application of the equity method. - FY2022AdvancedAnnual report
「This is because the Group newly acquired investment units in 東祥リート投資法人 during the current consolidated fiscal year, causing it to qualify as an affiliate.」
The acquisition of investment units in 東祥リート投資法人 made it an equity-method affiliate from the current consolidated fiscal year. - FY2022-Q3AdvancedAnnual report
「At a meeting of the Board of Directors held on 28 January 2022, we resolved to acquire, through our subsidiary 東祥投資事業有限責任組合, part of the newly issued investment units of 東祥リート投資法人. ① Number of investment units to be acquired: 14,000 units ② Acquisition price: ¥1.400 billion ③ Ownership ratio after acquisition: 18.8%」
We resolved to invest ¥1.400 billion to acquire 14,000 newly issued investment units of 東祥リート and establish an ownership ratio of 18.8% after the acquisition. The investment is expected to make it an equity-method affiliate. - FY2021-Q2AdvancedAnnual report
「In addition, our subsidiary 東祥アセットマネジメント株式会社 has provided asset management services since March and has received management fees.」
東祥アセットマネジメント began providing asset management services in March and progressed to the stage of receiving management fees. - FY2020AdvancedAnnual report
「During the current consolidated fiscal year, the necessary licenses and approvals for our consolidated subsidiary 東祥アセットマネジメント株式会社 to serve as the asset management company for a real estate investment corporation were obtained. Accordingly, we sold 2 sports clubs, 15 rental apartment buildings and 3 hotels to 東祥リート投資法人 (Registration No. 1, Director-General of the Tokai Local Finance Bureau), for which we provide asset management services, under a sponsor support agreement.」
The necessary licenses and approvals for 東祥アセットマネジメント were obtained, and asset management services for 東祥リート投資法人 and the related asset sales under the sponsor support agreement were carried out. - FY2020-Q3First statedAnnual report
「Although 東祥リート投資法人 (announced on 9 December 2019) was established, it is treated as an unconsolidated subsidiary because its impact on total assets, revenue, profit or loss, retained earnings and other items is immaterial and it is not material at present. In the real estate business, we will commence asset management for a real estate investment corporation at an early stage while working to expand the scale of the business.」
東祥リート投資法人 was established and is currently treated as an unconsolidated subsidiary because its impact is immaterial. Preparations to commence asset management are under way through 東祥アセットマネジメント株式会社, with an early start of operations and expansion of the real estate business identified as objectives.