Repair costs for aging facilities putting pressure on real estate leasing profits
First written in FY2017-Q3. 7 of 14 entries say "Mitigated", first in FY2019-Q2. Latest entry: FY2023.
0 other companies' latest entry also says "Mitigated".
- FY2023MitigatedAnnual report
「Revenue in the real estate business was ¥1,127 million (down ¥5 million, or 0.5%, year on year), remaining largely in line with the previous year, while segment profit increased to ¥265 million (up ¥23 million, or 9.9%) as major repair costs and other expenses declined year on year.」
Major repair costs and other expenses declined year on year, resulting in a 9.9% increase in segment profit in the real estate business. The pressure on profit from repair costs is therefore easing. - FY2023-Q3MitigatedAnnual report
「Revenue in the real estate business was ¥843 million (up ¥37 million, or 4.7%, year on year), and segment profit was ¥193 million (up ¥54 million, or 39.5%). Revenue increased mainly because remodeling orders rose, while segment profit increased mainly because major repair costs and other expenses declined from the previous-year period.」
Major repair costs and other expenses declined from the same quarter of the previous year, and segment profit in the real estate business increased 39.5%. The pressure on profit from repair costs is easing. - FY2023-Q2MitigatedAnnual report
「Revenue in the real estate business declined to ¥518 million (down ¥57 million, or 10.0%, year on year) due to fewer orders for detached houses, but segment profit increased to ¥135 million (up ¥38 million, or 39.3%) as major repair costs and other expenses declined from the previous-year period.」
Major repair costs and other expenses declined year on year, and segment profit in the real estate business increased 39.3%. The pressure on profit from repair costs is easing. - FY2023-Q1MitigatedAnnual report
「Segment profit was ¥61 million, up ¥2 million, or 3.4%, year on year, as repair costs and other expenses for rental properties declined compared with the same quarter of the previous year.」
Although higher repair costs had pressured profit in the previous quarter, repair costs and other expenses for rental properties declined in the first quarter, resulting in a 3.4% increase in segment profit. - FY2022-Q1MaterialisedAnnual report
「Segment profit declined due to higher depreciation and repair costs.」
The increase in repair costs was again cited as a factor putting pressure on profit in the real estate business, and segment profit fell 9.4% year on year. No explicit link to aging facilities was stated. - FY2021DroppedAnnual reportThe current-year explanation of real estate business results does not explicitly mention the profit pressure from repair costs for aging facilities, which had been stated previously.
- FY2019MitigatedAnnual report
「The increase in profit was due to lower repair costs for aging facilities, which had been incurred in the previous fiscal year.」
Repair costs for aging facilities, which had pressured profit in the previous fiscal year, declined in the current fiscal year, contributing to higher profit in the real estate business. - FY2019-Q3MitigatedAnnual report
「The increase in profit was due to lower repair costs for aging facilities, which had been incurred in the previous fiscal year.」
Repair costs for aging facilities, which had pressured real estate business profit in the previous fiscal year, declined, and segment profit increased 12.5% year on year. - FY2019-Q2MitigatedAnnual report
「The increase in profit was due to lower repair costs for aging facilities, which had been incurred in the previous fiscal year.」
Repair costs for aging facilities, which had pressured real estate business profit in the previous fiscal year, declined, and segment profit increased 27.7% year on year. - FY2018DroppedAnnual reportThe current-year explanation of real estate business results does not explicitly mention the profit pressure from repair costs for aging facilities, which had been stated previously, and instead identifies higher revenue from the residential construction company made a subsidiary as the main factor.
- FY2018-Q2RestatedAnnual report
「Revenue in the real estate business was ¥580 million (up ¥324 million, or 126.7%, year on year), and segment profit was ¥139 million (down ¥3 million, or 2.8%). Revenue increased as the housing construction company made a larger contribution after becoming a subsidiary in the previous fiscal year, but repair costs for aging facilities increased.」
Repair costs for aging facilities continued to be incurred, putting pressure on segment profit even as the real estate business generated higher revenue. - FY2018-Q1RestatedAnnual report
「Revenue from the real estate business was ¥312 million, up ¥185 million, or 145.6%, year on year, while segment profit was ¥62 million, down ¥9 million, or 13.3%. This was because revenue from the residential construction company made a subsidiary in the previous fiscal year increased, but repair costs for aging facilities rose.」
Repair costs for aging facilities continued to be incurred. Although revenue from the real estate business increased, segment profit fell 13.3% year on year. - FY2017RestatedAnnual report
「Revenue in the real estate business was ¥521 million (up ¥40 million, or 8.5%, year on year), and segment profit was ¥251 million (up ¥1 million, or 0.5%). Rental income increased as rental properties in Toyama became operational, but repair costs for aging facilities increased.」
Repair costs for aging facilities continued to be incurred, limiting profit growth in the real estate business despite higher rental income. - FY2017-Q3First statedAnnual report
「In the real estate leasing business, rental properties in Toyama contributed to results, but operating profit was sluggish as repair costs for aging parking facilities increased.」
The filing states that repair costs for aging parking facilities were actually incurred and became evident as sluggish operating profit growth.