Rent reductions and lower real estate rental revenue due to COVID-19
First written in FY2021-Q1. 8 of 18 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2027-H1.
The whole theme swung hardest in 2024: 2 of 8 companies on the "Worse" side.
0 other companies' latest entry also says "Other".
- FY2027-H1Rental revenue declined, but profit rose through rationalizationAnnual report
「In the real estate leasing business, operating revenue was ¥55 million, down ¥5 million, or 9.7%, from the previous interim consolidated accounting period. On the earnings front, operating profit was ¥21 million, up ¥1 million, or 7.8%, as expenses declined through rationalization measures such as the relocation of a subsidiary's office.」
Operating revenue in the real estate leasing business declined 9.7% year on year, while operating profit increased 7.8% due to lower expenses resulting from measures such as the relocation of a subsidiary's office. - 2026-05-14MitigatedRevisions to earnings forecasts
「不動産賃貸業については、堅調に推移した結果、営業収益は、124百万円(対前連結会計年度比８百万円、7.0％増）、営業利益は、51百万円（同20百万円、63.6％増)となりました。」
不動産賃貸業の営業収益と営業利益が前期から増加し、従来の収益圧力がさらに緩和している。 - FY2026-H1MitigatedAnnual report
「The real estate leasing business remained solid, with operating revenue of ¥61 million, up ¥3 million, or 6.5%, from the first half of the previous fiscal year, and operating income of ¥20 million, up ¥10 million, or 99.9%.」
Against the earnings pressure from rent reductions and variable contracts reported through the previous fiscal year, operating revenue in the real estate leasing business rose 6.5% and operating income rose 99.9% in the current first half, indicating an improvement in performance. - FY2025MitigatedAnnual report
「In the real estate leasing business, rents that had been temporarily reduced at certain properties were raised. As a result, operating revenue was ¥116 million, up ¥28 million, or 33.0%, from the previous fiscal year, and operating income was ¥31 million, up ¥21 million, or 204.5%.」
The raising of rents that had been temporarily reduced significantly improved operating revenue and operating income in the real estate leasing business, easing the earnings pressure from rent reductions. - FY2025-H1MitigatedAnnual report
「In the real estate leasing business, rents that had been temporarily reduced at certain properties were raised. As a result, operating revenue was ¥57 million, up ¥13 million, or 31.2%, from the first half of the previous fiscal year, and operating income was ¥10 million, up ¥7 million, or 348.1%.」
The raising of rents that had been temporarily reduced resulted in operating revenue in the real estate leasing business rising 31.2% and operating income rising 348.1%, easing the earnings pressure from rent reductions. - FY2024ReframedAnnual report
「In the real estate leasing business, existing contracts for major properties were changed to variable contracts. As a result, operating revenue was ¥87 million, down ¥22 million, or 20.4%, from the previous fiscal year, and operating income was ¥10 million, down ¥29 million, or 74.1%.」
The explanation has shifted from rent reductions due to COVID-19 to the change in contracts for major properties to variable contracts as a factor behind the decline in real estate rental revenue. - FY2024-Q3RestatedAnnual report
「In the real estate leasing business, existing contracts for major properties were changed to variable contracts. As a result, operating revenue was ¥65 million, down ¥15 million, or 19.5%, from the third quarter of the previous fiscal year, and operating income was ¥7 million, down ¥20 million, or 72.9%.」
The impact of changing major-property contracts to variable contracts has continued to affect real estate rental revenue. Operating revenue fell 19.5% year on year and operating income fell 72.9%, continuing the factor first identified in the previous quarter. - FY2024-Q2WorsenedAnnual report
「In the real estate leasing business, existing contracts for major properties were changed to variable contracts. As a result, operating revenue was ¥43 million, down ¥10 million, or 19.9%, from the second quarter of the previous fiscal year, and operating income was ¥2 million, down ¥14 million, or 86.7%.」
The change in contracts for major properties to variable contracts caused operating revenue and operating income in the real estate leasing business to decline year on year. Operating income fell 86.7%. - FY2024-Q1WorsenedAnnual report
「In the real estate leasing business, rent reductions at certain properties resulted in operating revenue of ¥21 million, down ¥5 million, or 19.9%, from the first quarter of the previous fiscal year, and operating income of ¥0 million, down ¥6 million, or 99.3%.」
Although the Company had explained that rents had recovered to pre-COVID levels in the previous fiscal year, rent reductions at certain properties caused operating revenue to fall 19.9% and operating income to fall 99.3% in the current quarter. - FY2023MitigatedAnnual report
「In the real estate leasing business, results remained solid after recovering to pre-COVID levels. Operating revenue was ¥109 million, down ¥0 million, or 0.5%, from the previous fiscal year, and operating income was ¥39 million, down ¥6 million, or 14.1%.」
The Company explained that the impact of rent reductions associated with the pandemic had receded and rents had recovered to pre-COVID levels. - FY2022MitigatedAnnual report
「In the real estate leasing business, although certain properties were sold, rents recovered to pre-COVID levels. Operating revenue was ¥110 million, compared with ¥100 million in the previous fiscal year, and operating income was ¥46 million, compared with ¥27 million.」
As the impact of rent reductions associated with COVID-19 diminished, rents recovered to pre-COVID levels. Operating revenue and operating income also increased from the previous fiscal year. - FY2022-Q3MitigatedAnnual report
「In the real estate leasing business, the Company agreed to rent reductions due to the impact of COVID-19 during the third quarter of the previous fiscal year, but that impact diminished during the third quarter of the current fiscal year. Operating revenue was ¥82 million, compared with ¥71 million in the third quarter of the previous fiscal year, and operating income was ¥34 million, compared with ¥15 million.」
As the impact of rent reductions associated with COVID-19 diminished, operating revenue in the real estate leasing business improved from ¥71 million to ¥82 million year on year, while operating income improved from ¥15 million to ¥34 million. - FY2022-Q2RestatedAnnual report
「In the real estate leasing business, the Company agreed to rent reductions due to the impact of COVID-19 during the second quarter of the previous fiscal year, but that impact diminished during the second quarter of the current fiscal year. Operating revenue was ¥54 million, compared with ¥49 million in the second quarter of the previous fiscal year, and operating income was ¥21 million, compared with ¥8 million.」
As the impact of rent reductions associated with COVID-19 diminished, operating revenue and operating income in the real estate leasing business exceeded the previous year's levels. - FY2022-Q1MitigatedAnnual report
「In the real estate leasing business, the Company agreed to rent reductions due to the impact of COVID-19 during the first quarter of the previous fiscal year, but that impact diminished during the first quarter of the current fiscal year. Operating revenue was ¥27 million, compared with ¥25 million in the first quarter of the previous fiscal year, and operating income was ¥10 million, compared with ¥7 million.」
As the impact of rent reductions associated with the pandemic diminished, operating revenue and operating income in the real estate leasing business increased from the previous year. - FY2021RestatedAnnual report
「In the real estate leasing business, the Company agreed to rent reductions due to the impact of COVID-19 and sold certain leased properties. As a result, operating revenue was ¥100 million, down ¥37 million, or 27.0%, from the previous fiscal year, and operating income was ¥27 million, down ¥29 million, or 51.7%.」
Annual real estate rental revenue and profit continued to decline due to rent reductions associated with the pandemic and the sale of leased properties. - FY2021-Q3WorsenedAnnual report
「In the real estate leasing business, the impact of rent reductions in response to COVID-19 and the sale of leased properties resulted in operating revenue of ¥71 million, down ¥31 million, or 30.3%, from the third quarter of the previous fiscal year, and operating income of ¥15 million, down ¥25 million, or 62.4%.」
In addition to rent reductions due to COVID-19, the impact of the sale of leased properties continued, with operating revenue in the real estate leasing business down 30.3% year on year and operating income down 62.4%. - FY2021-Q2WorsenedAnnual report
「In the real estate leasing business, the impact of rent reductions in response to COVID-19 and the sale of leased properties resulted in operating revenue of ¥49 million, down ¥18 million, or 27.4%, from the second quarter of the previous fiscal year, and operating income of ¥8 million, down ¥17 million, or 65.9%.」
In addition to rent reductions due to COVID-19, the sale of leased properties also affected results. Operating revenue in the real estate leasing business fell 27.4% year on year, and operating income fell 65.9%. - FY2021-Q1First statedAnnual report
「In the real estate leasing business, rent reductions in response to the impact of COVID-19 resulted in operating revenue of ¥25 million, down ¥9 million, or 26.3%, from the first quarter of the previous fiscal year, and operating income of ¥7 million, down ¥6 million, or 46.1%.」
The response to rent reductions resulting from COVID-19 has materialized as declines in operating revenue and operating income in the real estate leasing business.