Decline in Real Estate Earnings Due to Tenant Departures
First written in FY2016. 6 of 13 entries say "Mitigated", first in FY2018-Q3. Latest entry: FY2023-Q2.
Daiwa Motor Transportation moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 4 of 11 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2023-Q2MitigatedAnnual report
「Rental revenue improved this fiscal year as a result of ending the rent reductions that had been in place through the previous fiscal year.」
The temporary rent reductions in place through the previous fiscal year were ended, contributing to an improvement in rental revenue. - FY2023-Q1MitigatedAnnual report
「Rental revenue improved this fiscal year as a result of ending the rent reductions that had been in place through the previous fiscal year.」
It states that the temporary rent reductions in place through the previous fiscal year ended, improving rental revenue. - FY2022-Q2MitigatedAnnual report
「In the real estate business, despite the impact of the spread of COVID-19, the company continued to improve facilities in line with tenant requests, work to raise occupancy rates at office buildings and rental apartments, and actively exchange information with major real estate brokerage firms and local real estate companies in the areas where the properties are located. As a result of these efforts to increase business revenue, including improvements in the vacancy rate of leased buildings, rental revenue increased from the previous fiscal year.」
As a result of facility improvements, higher occupancy rates and information sharing with real estate companies, vacancy rates at the rental buildings improved, and rental revenue increased from the previous fiscal year. - FY2022-Q1WorsenedAnnual report
「However, as the company continued to agree to temporary rent reductions for commercial stores and other tenants affected by the spread of COVID-19, rental revenue remained at the same level as the previous fiscal year. In addition, profit declined because costs were incurred as the company continued to actively pursue renovations of office buildings and apartments.」
The effects of rent reductions and renovation costs continued, and real estate business operating profit declined 59.0% year on year. - FY2021WorsenedAnnual report
「During the consolidated fiscal year, rental revenue declined due to the sale of the leased building Terrace Ginza and the company's agreement to temporary rent reductions for commercial stores and other tenants in response to the spread of COVID-19. In addition, profit declined because costs were incurred as the company actively pursued renovations of office buildings and apartments.」
While continuing measures to maintain high occupancy rates, rental revenue and profit declined due to the sale of Terrace Ginza, rent reductions and renovation costs. Real estate business revenue was ¥1,432 million and operating profit was ¥296 million, with operating profit down 48.8% year on year. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter, rental revenue declined due to the sale of the leased building Terrace Ginza and the company's agreement to temporary rent reductions for commercial stores and other tenants in response to the spread of COVID-19. In addition, profit declined because costs were incurred as the company actively pursued renovations of office buildings and apartments. As a result, real estate business revenue was ¥667 million, down 4.2% year on year, and operating profit was ¥221 million, down 49.4% year on year.」
The sale of Terrace Ginza, rent reductions and renovation costs resulted in declines in rental revenue and real estate business profit. - FY2021-Q2WorsenedAnnual report
「In the real estate business, the company continued working to improve facilities in line with tenant requests, actively exchanged information with major real estate brokerage firms and local real estate companies in the areas where the properties are located, and worked to increase business revenue. During the cumulative second quarter, rental revenue declined due to the sale of the leased building Terrace Ginza and the company's agreement to temporary rent reductions for commercial stores and other tenants in response to the spread of COVID-19.」
While continuing measures to maintain high occupancy rates, rental revenue declined due to the sale of Terrace Ginza and temporary rent reductions for commercial stores and other tenants associated with COVID-19. - FY2020-Q3RestatedAnnual report
「Through continued active information exchanges with major real estate brokerage firms and local real estate companies in the areas where the properties are located, the company has maintained high occupancy rates for both office buildings and apartment properties.」
It continues to exchange information with real estate companies and maintain high occupancy rates for office buildings and apartment properties. - FY2019-Q2MitigatedAnnual report
「We actively exchanged information with local real estate companies in the areas where our properties are located, including major real estate brokerage companies. As a result, the office buildings achieved full occupancy, while the apartment properties continued to maintain an occupancy rate of at least 95%.」
Through information exchanges with real estate companies, the company has maintained full occupancy at office buildings and an occupancy rate of 95% or higher for apartment properties, advancing measures to address the risk of revenue declines from vacancies. - FY2019-Q1RestatedAnnual report
「In addition, the company actively exchanged information with major real estate brokerage firms and local real estate companies in the areas where the properties are located, maintaining an occupancy rate of 95% or higher.」
Through information exchanges with real estate companies and other measures, it has maintained an occupancy rate of 95% or higher as a response to the risk of revenue declines associated with vacancies and tenant departures. - FY2018MitigatedAnnual report
「In addition, as a result of actively exchanging information with major real estate brokerage firms and local real estate companies in the areas where the properties are located, the company has maintained an occupancy rate of 95% or higher.」
Through information exchanges with real estate companies and other measures, it has maintained an occupancy rate of 95% or higher as a response to the risk of revenue declines associated with vacancies and tenant departures. - FY2018-Q3MitigatedAnnual report
「In addition, as a result of actively exchanging information with major real estate brokerage firms and local real estate companies in the areas where the properties are located, the vacancy rate improved.」
It reports an improvement in the vacancy rate as a result of information exchanges with real estate companies and other measures, indicating that the risk of revenue declines from vacant units has been mitigated to a certain extent. - FY2016First statedAnnual report
「Although the company is working to strengthen its real estate business and increase revenue, some tenants vacated leased buildings, resulting in real estate business revenue of ¥912 million, down 9.9% year on year, and operating profit of ¥409 million, down 11.3% year on year.」
Tenant departures occurred during the period and resulted in declines in real estate business revenue and operating profit.