Decline in distribution business revenue due to a change in the contract structure for the ekimo business
First written in FY2019-Q2. . Latest entry: FY2019.
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- FY2019Full-year results update (impact of change in contractual arrangements)Annual report
「Operating revenue in the retail segment was ¥33.482 billion, down 6.0% year on year, partly because of the change in the contractual arrangements for the ekimo business. Operating income was ¥3.715 billion, down 7.4%, due mainly to the recognition of costs associated with the renovation of Namba CITY.」
The retail segment posted declines in both revenue and operating income for the full year due to the change in the contractual arrangements for the ekimo business and costs associated with the renovation of Namba CITY. - FY2019-Q3Third-quarter results update (impact of change in contractual arrangements)Annual report
「Operating revenue in the retail segment was ¥25.440 billion, down 5.7% year on year, mainly due to lower revenue resulting from a change in the contractual arrangements with tenants in the ekimo business within the station business. Operating income, however, rose 4.8% to ¥3.334 billion, owing to higher revenue from shopping center operations.」
While the change in the contractual arrangements for the ekimo business reduced retail revenue, higher revenue from shopping centers increased operating income. - FY2019-Q2First statedAnnual report
「Operating revenue in the retail segment was ¥16.777 billion, down 5.9% year on year, mainly due to lower revenue resulting from a change in the contractual arrangements with tenants in the ekimo business within the station business. Operating income, however, rose 6.7% to ¥2.048 billion, owing to higher revenue from shopping center operations.」
While the change in contractual arrangements with tenants in the ekimo business reduced retail revenue, higher revenue from shopping centers increased operating income.