Collection and collateral protection risks for loans to major shareholder House Saison
First written in FY2021. 8 of 9 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2024.
The whole theme swung hardest in 2023: 8 of 30 companies on the "Worse" side.
9 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「株式会社ハウスセゾンエンタープライズ, a consolidated subsidiary of the Company, collected ¥494.773 million in short-term loans to 株式会社ハウスセゾン during the current consolidated fiscal year. As a result, the loans to 株式会社ハウスセゾン were fully collected.」
The company fully collected ¥494.773 million in loans to major shareholder ハウスセゾン, eliminating the exposure associated with the loans. - FY2024-Q3MitigatedAnnual report
「House Saison Enterprise, a consolidated subsidiary of the company, collected ¥392.697 million in short-term loans to 株式会社ハウスセゾン during the third quarter of the current consolidated fiscal year. This resulted in the full collection of loans to 株式会社ハウスセゾン.」
The loans to major shareholder ハウスセゾン were fully collected through the recovery of ¥392.697 million, eliminating the exposure associated with the loans. - FY2024-Q2MitigatedAnnual report
「Short-term loans 498,123 392,697」
Regarding the collection and collateral security risks associated with loans to major shareholder ハウスセゾン, the short-term loan balance declined from ¥498.123 million at the end of the previous consolidated fiscal year to ¥392.697 million, indicating a reduction in exposure. - FY2024-Q1MitigatedAnnual report
「Short-term loans 498,123 427,697」
Regarding the collection and collateral security risks associated with loans to major shareholder ハウスセゾン, the short-term loan balance declined from ¥498.123 million at the end of the previous consolidated fiscal year to ¥427.697 million. - FY2023MitigatedAnnual report
「During the current consolidated fiscal year, the principal of the loans was repaid through the disposal of collateral and other measures.」
The short-term loans to major shareholder ハウスセゾン were reduced to ¥494.773 million through repayment from the disposal of collateral and other measures. The filing continues to describe security through collateral and guarantees, as well as uncertainty regarding the timing of collection and other matters. - FY2022MitigatedAnnual report
「Loans advanced Repayment of loans 874,500 Short-term loans (Note) 1 575,500」
¥874.5 million was collected on loans to major shareholder ハウスセゾン, reducing the short-term loan balance from ¥1.45 billion to ¥575.5 million. Security through collateral and guarantees continues. - FY2022-Q2MitigatedAnnual report
「A consolidated subsidiary of the Company collected part of its short-term loan to major shareholder 株式会社ハウスセゾン, recovering ¥14.5 million on 8 March 2022. As of the filing date of this quarterly report, the short-term loan balance was ¥705.5 million.」
Additional collections were made on loans to major shareholder ハウスセゾン, reducing the outstanding loan balance from ¥720 million to ¥705.5 million. Uncertainty regarding the timing and amount of collection remains, but the reduction in exposure was disclosed. - FY2022-Q1MitigatedAnnual report
「A consolidated subsidiary of the company collected part of its short-term loan to its major shareholder, 株式会社ハウスセゾン, receiving ¥730 million on 26 November 2021. …As of the date of submission of this quarterly report, the balance of short-term loans was ¥720 million.」
After the filing date, ¥730 million was collected on loans to major shareholder ハウスセゾン, reducing the outstanding loan balance. Uncertainty regarding the timing and amount of collection remains, but the filing describes a reduction in exposure. - FY2021First statedAnnual report
「The loan is evaluated using the financial-content evaluation method. The receivable is considered sufficiently secured through measures including a security interest over the transfer of receivables owned by the company, a joint and several guarantee by its subsidiary, mortgages over the above development properties, mortgages over other income-producing real estate held by the company, security over investment securities held by the company's representative, and a personal guarantee from the company's representative. Accordingly, we have determined that no allowance for doubtful accounts is necessary. However, because this determination depends on future events, including the realization of sales of the collateral, uncertainty remains regarding the timing and amount of collection as of the current date. If future events differ from expectations, the accounting estimates in the consolidated financial statements for the following consolidated fiscal year may be revised.」
For ¥1.45 billion in short-term loans to major shareholder ハウスセゾン, the company has secured the exposure through multiple forms of collateral and guarantees, while identifying uncertainty regarding the timing and amount of collection, which depend on the sale of collateral and other events, as a new major risk.