Determination and execution of property exit strategies
First written in FY2017. 13 of 26 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2021: 1 of 10 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Regarding the real estate-related business, we had previously pursued a policy of withdrawing from the business, but decided to resume real estate sales, purchases, and brokerage from the fiscal year ending March 2027 as part of expanding the services of overseas and domestic agencies acquired by consolidated subsidiaries.」
The stated policy has changed from proceeding with a withdrawal from the real estate-related business to resuming real estate sales, purchases, and brokerage from the fiscal year ending March 2027 onward. - 2026-05-28RestatedGeneral Meetings of Shareholders
「不動産関連事業については、2026年３月末現在も所有する２件の商業施設について、時期は未定ながら、売却価格や収支等を勘案しながら売却を検討する方針です。」
北海道釧路市・留萌市の2商業施設について、売却時期未定のまま売却検討方針が継続している。 - FY2025RestatedAnnual report
「Regarding the real estate-related business, we plan to consider selling the 2 commercial facilities still owned as of 31 March 2025, although the timing has not been determined, taking into account the sale price, profitability, and other factors.」
The withdrawal from the real estate-related business and the policy of considering the sale of the 2 commercial facilities in Kushiro and Rumoi, Hokkaido, remain in place. However, the timing of the sale has not been determined. - FY2025-H1RestatedAnnual report
「2 fixed assets; we continue to operate the real estate leasing business. ・Commercial facility located in Kushiro, Hokkaido ・Commercial facility located in Rumoi, Hokkaido」
Under the policy of withdrawing from the real estate-related business, leasing operations continue at 2 commercial facilities in Kushiro and Rumoi, Hokkaido. - FY2024SoftenedAnnual report
「Regarding the real estate-related business, we plan to consider selling the 2 commercial facilities still owned as of 31 March 2024, although the timing has not been determined, taking into account the sale price, profitability, and other factors.」
The policy of withdrawing from the real estate-related business remains in place, but the timing of the sale of the 2 remaining properties has not been determined and will be considered based on factors including price and profitability. - FY2023-Q3RestatedAnnual report
「Real estate sales revenue and other income have been recorded from the sale of real estate in Taki District, Mie Prefecture, held by PBTF1 GK. As a result of this sale, PBTF1 GK no longer met the consolidation requirements and was excluded from consolidation.」
The sale of the property in Taki District, Mie Prefecture, as part of the withdrawal from the real estate-related business, and the resulting exclusion of PBTF1 from consolidation have been confirmed. - FY2023-Q2RestatedAnnual report
「Real estate sales revenue and other income have been recorded from the sale of a property in Taki District, Mie Prefecture, held by PBTF1 GK. As a result of this sale, PBTF1 GK no longer met the consolidation requirements and was excluded from consolidation.」
The recording of real estate sales revenue following the sale of the commercial facility in Taki District, Mie Prefecture, and the exclusion of PBTF1 from consolidation have been confirmed. - FY2023-Q1AdvancedAnnual report
「As part of the effort to withdraw from the business, PBTF1 GK sold a commercial facility located in Taki District, Mie Prefecture, on 30 June. Due to the company’s fiscal year-end, the accounting treatment for the sale will be reflected in the second quarter.」
As part of the exit strategy for withdrawing from the real estate-related business, the commercial facility held by PBTF1 in Taki District, Mie Prefecture, was sold on 30 June. The accounting treatment for the sale will be reflected in the second quarter. - FY2022AdvancedAnnual report
「For the commercial facility in Mie Prefecture, a sale and purchase agreement was signed on 10 June 2022, with the policy of completing the sale during the fiscal year ending March 2023. Consolidated subsidiary PBTF1 GK is then scheduled to be liquidated.」
As part of the withdrawal from the real estate-related business, a sale and purchase agreement was signed for the Mie Prefecture property, one of the 3 remaining properties, with the sale and liquidation of PBTF1 planned during the fiscal year ending March 2023. - FY2022-Q3AdvancedAnnual report
「During the cumulative third quarter, we sold a commercial facility located in Fujimino, Saitama Prefecture.」
As part of the exit strategy for withdrawing from the real estate-related business, a commercial facility located in Fujimino, Saitama Prefecture, was sold. - FY2022-Q2RestatedAnnual report
「No sales were made during the cumulative second quarter, and we continue to operate the real estate leasing business for the following properties.」
The policy of selling properties as part of the withdrawal from the real estate-related business remains in place, but no sales were made during the cumulative second quarter. - FY2022-Q1RestatedAnnual report
「Although we plan to fully withdraw from the business in the future, no sales were made during the current consolidated first quarter, and we continue to operate the real estate leasing business for the following properties.」
The policy of fully withdrawing from the real estate-related business and the exit strategy remain in place, but no real estate was sold during the current first quarter. - FY2021AdvancedAnnual report
「Regarding sales of properties held for sale by consolidated and unconsolidated SPCs, 3 sales were completed by consolidated SPCs and 1 by an unconsolidated SPC.」
As part of the exit strategy for properties held for sale, 3 sales by consolidated SPCs and 1 sale by an unconsolidated SPC were completed. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter, sales of held real estate remained at 2 properties, and the current third quarter was limited to existing rental income and other sources,」
Cumulative sales of held real estate totaled 2 properties, with no additional sales during the quarter. - FY2021-Q2RestatedAnnual report
「As no held real estate was sold during the current consolidated second quarter (although 2 properties have been sold cumulatively), the business was limited to existing rental income and other sources,」
No held real estate was sold during the second quarter, although 2 properties have been sold cumulatively. - FY2021-Q1AdvancedAnnual report
「Real estate sales were completed by the consolidated subsidiaries LCRF13 and PBTF1, which are SPCs,」
Real estate sales were completed by LCRF13 and PBTF1 as part of the exit strategy. - FY2020AdvancedAnnual report
「Although we continued activities to sell assets, only 1 of the 6 properties for sale belonging to this segment was sold during the current consolidated fiscal year, and the sale price was below the initial estimate when sales activities began. Accordingly, we revised the estimated sale price and recorded an additional impairment loss of ¥353 million in cost of sales.」
Asset sale activities continued, and 1 of 6 properties was sold in the SPC-related business. At the same time, the estimated sale price was revised downward and an impairment loss of ¥353 million was recorded. - FY2020-Q2AdvancedAnnual report
「During the cumulative second quarter, revenue from the sale of held assets exceeded the decline in rental income, resulting in net sales of ¥4,375 million, up 51.3% year on year, and operating income of ¥842 million, up 98.0%.」
The sale of held assets contributed to higher net sales and operating income in the real estate leasing-related business during the cumulative second quarter, advancing execution of the exit strategy. - FY2019AdvancedAnnual report
「While existing properties continued to perform solidly, the real estate leasing-related business sold a logistics facility.」
The sale of a logistics facility is reported as a full-year result in connection with the exit strategy for the accumulated properties. - FY2019-Q3AdvancedAnnual report
「In the real estate leasing-related business, existing properties performed as planned, and a logistics facility was also sold. As a result, net sales were ¥6,922.438 million, up 70.5% year on year, and operating income was ¥689.437 million, up 57.5%.」
While existing properties performed as planned, the sale of a logistics facility was completed, contributing to net sales and operating income in the real estate leasing-related business. - FY2019-Q1AdvancedAnnual report
「The originally planned sale by the Hirooka 2-chome Project GK was completed.」
The planned sale of properties held by an SPC was completed, marking progress in executing the exit strategy. - FY2018Partial execution of exit strategy; failure to commence investment corporation operationsAnnual report
「The planned off-balancing of assets during the current fiscal year was only partially achieved, and operations of the planned investment corporation did not commence. We will make the following fiscal year the year in which these objectives are achieved.」
The off-balancing linked to the exit strategy was only partially achieved, and operations of the investment corporation did not commence. The stated policy is to achieve this in the following fiscal year. - FY2018-Q3AdvancedAnnual report
「As part of the so-called “exit strategy” to realize results in the real estate fund-related business, which we have positioned as our Group’s second core business, we decided to transfer the property as part of an effort to sell the accumulated properties to external parties. ① Date of transfer agreement 16 January 2018 ② Delivery date 28 March 2018 ④ Transfer price The book value and sale price each exceed 30% of the net assets reported on the consolidated balance sheet for the Company’s most recent fiscal year.」
As part of the exit strategy to sell the accumulated properties externally, sale and purchase agreements for LCRF13 GK and PBTF1 GK were signed on 16 January 2018, with delivery scheduled for 28 March 2018. The book value and sale price of the properties subject to transfer each exceed 30% of net assets reported on the most recent consolidated balance sheet. - FY2018-Q2AdvancedAnnual report
「Delivery date 3 October 2017 ③ Details Type of transferred asset Ownership Name and location Land and building located in Kawasaki, Kanagawa Prefecture ④ Transfer price The sale price will be at least 10% of the consolidated net sales for the Company’s most recent fiscal year.」
LCRF4 GK transferred land and a building located in Kawasaki, Kanagawa Prefecture, on 3 October 2017. The sale price will be at least 10% of consolidated net sales for the most recent fiscal year. Execution of the exit strategy for the accumulated properties has progressed further. - FY2018-Q1AdvancedAnnual report
「In the real estate fund business, in addition to the steady contribution of entrusted fees to earnings, revenue from real estate sales by 合同会社ＬＣＲＦ７ was generated as originally planned,」
The generation of real estate sales revenue in line with the original plan indicates concrete progress in executing an exit strategy for the accumulated properties. - FY2017First statedAnnual report
「In any event, during the current fiscal year, we plan to realize results by determining and executing exit strategies for the properties accumulated to date.」
The stated policy is to move from a stage focused on acquisitions to one focused on determining and executing an exit strategy, including when, at what price, and to whom the properties will be sold.