Fundamental improvement in the business structure and a V-shaped recovery through management reform
First written in FY2021-Q2. 5 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2023-Q3.
No other company in this theme has enough history to compare yet.
- FY2023-Q3AdvancedAnnual report
「Regarding “management reform,” in addition to the themes of “asset-light business operations,” “lowering the break-even point,” and “service transformation suited to the new normal,” we have worked on “management reform in the urban transportation and railway corridor business.” In particular, under “asset-light business operations,” based on the basic agreement concluded with Reco Pine Private Limited, an affiliate of GIC Private Limited, dated 10 February 2022, our consolidated subsidiary 西武リアルティソリューションズ株式会社 entered into an agreement dated 30 June 2022 to transfer certain assets related to the hotel and leisure business to multiple companies directly or indirectly funded by Reco Sky Private Limited, an affiliate of GIC Private Limited, and transferred 4 properties, including The Prince Park Tower Tokyo, on 30 September 2022 and 15 properties, including Naeba Prince Hotel, on 1 December 2022.」
In addition to the 3 management reform themes, we advanced reform of the urban transportation and railway corridor business, and implemented additional transfers of hotel and leisure assets as part of asset-lighting. - FY2023-Q2AdvancedAnnual report
「In particular, under “asset-light business operations,” based on the basic agreement concluded with Reco Pine Private Limited, an affiliate of GIC Private Limited, dated 10 February 2022, our consolidated subsidiary 西武リアルティソリューションズ株式会社 entered into an agreement dated 30 June 2022 to transfer certain assets related to the hotel and leisure business to multiple companies directly or indirectly funded by Reco Sky Private Limited, an affiliate of GIC Private Limited, and on 30 September 2022 transferred 4 properties, including The Prince Park Tower Tokyo.」
Asset-lighting under management reform progressed from executing the agreement to transfer assets to GIC affiliates to completing the transfer of 4 properties. - FY2023-Q1AdvancedAnnual report
「Regarding “management reform,” in addition to the themes of “asset-light business operations,” “lowering the break-even point,” and “service transformation suited to the new normal,” we have worked on “management reform in the urban transportation and railway corridor business.” In particular, under “asset-light business operations,” based on the basic agreement concluded with Reco Pine Private Limited, an affiliate of GIC Private Limited, dated 10 February 2022, our consolidated subsidiary 西武リアルティソリューションズ株式会社 entered into an agreement dated 30 June 2022 to transfer certain assets related to the hotel and leisure business to multiple companies directly or indirectly funded by Reco Sky Private Limited, an affiliate of GIC Private Limited.」
We added management reform in the urban transportation and railway corridor business to the management reform agenda, and asset-lighting progressed to the execution of an agreement to transfer assets to GIC affiliates. - FY2022-Q3AdvancedAnnual report
「Regarding “management reform,” we have worked on “asset-light business operations,” “lowering the break-even point,” and “service transformation suited to the new normal.” In particular, under “asset-light business operations,” we have reviewed our portfolio and transformed our business model to build a more resilient business structure against crises that are expected to recur.」
Initiatives aligned with the 3 management reform themes continued, and the scope of portfolio reviews and business model transformation expanded. - FY2021AdvancedAnnual report
「First is “management reform.” We will directly address the management issues brought to light by the COVID-19 pandemic and implement, without exempting any area, 3 initiatives: “asset-light business operations,” “lowering the break-even point,” and “service transformation suited to the new normal.”」
The management reform launched as a key matter for FY2020 was systematized as 1 of the 3 pillars of the new medium-term management plan: asset-light operations, lowering the break-even point, and service transformation. - FY2021-Q2First statedAnnual report
「As part of our management response, we will take on and overcome this difficult situation by going further with the “key business matters for FY2020” described above and implementing “management reform,” thereby overcoming the COVID shock and establishing a path to a leap forward in the post-COVID-19 society. While pursuing fundamental improvement in our business structure without exempting any area, we will anticipate changes in values during the COVID-19 pandemic and transform our business model to achieve a V-shaped recovery during the recovery phase.」
We reorganized the key matters for FY2020 into a more far-reaching “management reform” initiative and set out fundamental improvement in our business structure and a V-shaped recovery through measures including lowering the break-even point, restraining investment, selling assets and businesses, and raising equity-like capital.