Establish the real estate fund-related business as the second core business
First written in FY2017. 3 of 14 entries say "Reframed", first in FY2019. Latest entry: FY2021.
GLOME Holdings moved to the "Worse" side of this theme in 2020.
The whole theme swung hardest in 2020: 1 of 7 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2021ReframedAnnual report
「The real estate-related business has already been substantially scaled back, and the policy is to withdraw from it completely. As of 31 March 2021, however, the Group was engaged in the rental business for the following real estate properties.」
The explanation has shifted from the previous positioning of establishing the real estate fund-related business as the second core business to a policy of completely withdrawing from the real estate-related business. - FY2021-Q3Stagnant sales of held real estate and operating loss in the real estate-related businessAnnual report
「During the cumulative third quarter of the current fiscal year, sales of held real estate remained at 2 properties. During the third quarter, the business was limited to existing rental income and other revenue, resulting in revenue of ¥1,599 million and an operating loss of ¥57 million for the year to date.」
Sales of held real estate remained at 2 properties cumulatively, with no sales during the third quarter, and the real estate-related business recorded an operating loss. - FY2020ReframedAnnual report
「Sales of real estate held for sale by SPCs did not progress, and the plan for off-balance-sheet treatment of hospital assets also had to be redesigned following a review of hospital-related assets. As a result, revenue was limited to ¥198 million, down 78.7% year on year. Although selling, general and administrative expenses were reduced, the Company recorded a ¥376 million provision for allowance for doubtful accounts in connection with the disposal of trade receivables on the assumption of withdrawing from the business, causing the operating loss to widen to ¥568 million, a 151.4% decline in operating profit year on year.」
The focus shifted from expanding the real estate fund business as the second core business to stagnant sales of real estate held for sale, redesigning the plan, and winding down the business. - FY2020-Q2Continued lower revenue and operating loss due to no sales of fund-held assetsAnnual report
「As no assets held by funds formed by the Group were sold during the cumulative second quarter of the current fiscal year, revenue was ¥140 million, down 81.3% year on year, and the Company recorded an operating loss of ¥119 million, compared with operating profit of ¥178 million in the same period of the previous year.」
There were still no sales of fund-held assets in the cumulative second quarter, resulting in lower revenue and an operating loss. - FY2020-Q1Lower revenue and operating loss due to no sales of fund-held assetsAnnual report
「As no assets held by funds formed by the Group were sold during the first quarter of the current fiscal year, revenue was ¥79 million, down 74.4% year on year, and the Company recorded an operating loss of ¥61 million, compared with operating profit of ¥35 million in the same quarter of the previous year.」
The absence of sales of fund-held assets resulted in lower revenue and an operating loss in the real estate fund business. - FY2019ReframedAnnual report
「Real estate fund-related business ③ We aim to achieve off-balance-sheet treatment of hospital real estate.」
The real estate fund business is now described as a business responsible for the off-balance-sheet treatment of hospital real estate, rather than as a business to be expanded as the second core business. - FY2019-Q3Lower revenue and operating loss in the fund business due to no revenue from off-balance-sheet treatment of hospital assetsAnnual report
「Although entrusted revenue from real estate sales increased, there was no revenue from off-balance-sheet treatment of hospital assets, resulting in revenue of ¥830.638 million, down 43.3% year on year, and an operating loss of ¥2.090 million, a 100.6% decline in operating profit.」
While entrusted revenue from real estate sales increased, there was no revenue from off-balance-sheet treatment of hospital assets, resulting in lower revenue and an operating loss in the real estate fund business. - FY2019-Q2RestatedAnnual report
「Although entrusted revenue from real estate sales increased, there was no revenue from new fund formations, resulting in revenue of ¥750.720 million, down 28.9% year on year, and operating profit of ¥178.344 million, down 34.1%.」
Although entrusted revenue from real estate sales was generated, there continued to be no revenue from new fund formations, and revenue and operating profit in the real estate fund business declined year on year. - FY2019-Q1No revenue from new fund formation; revenue from the sale of existing SPCs generatedAnnual report
「There were initiatives related to SPCs, including sales by the 合同会社広岡二丁目計画, but no revenue was generated from new fund formations.」
While there were sales initiatives related to SPCs, no revenue was generated from new fund formations. - FY2018Partial off-balance-sheet treatment achieved; original plan not metAnnual report
「In the real estate fund business, off-balance-sheet treatment of assets was achieved in part, but fell short of the original plan.」
Off-balance-sheet treatment of assets was achieved in part as part of the expansion of the real estate fund-related business, but the original plan was not met. - FY2018-Q3AdvancedAnnual report
「As part of its exit strategy, the real estate fund business was able to transfer some properties.」
The real estate fund business, which is intended to become the second core business, achieved the transfer of some properties as part of its exit strategy. - FY2018-Q2RestatedAnnual 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,」
Entrusted fees from the real estate fund business and revenue from real estate sales by 合同会社ＬＣＲＦ７, as originally planned, continue to contribute to earnings. - 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,」
Entrusted fees contributed to earnings in the real estate fund business, and revenue from real estate sales by 合同会社ＬＣＲＦ７ was also generated as originally planned. This demonstrates a specific earnings contribution toward the goal of establishing the business as the second core business. - FY2017First statedAnnual report
「From FY2017 onward, while pursuing property acquisitions in the real estate fund business, we will also focus on generating returns and aim to establish the business as the second core business.」
The goal is to make the real estate fund business the second core business through property acquisitions and return generation from FY2017 onward.