Risk of Declining Rental Revenue Due to Major Tenant Departures
First written in FY2018. 3 of 4 entries say "Materialised", first in FY2020-Q3. Latest entry: FY2022.
Toho moved to the "Worse" side of this theme in 2020.
0 other companies' latest entry also says "Materialised".
- FY2022MaterialisedAnnual report
「Risks arising from a deterioration in real estate market conditions include rent waivers for tenants, responses to requests for rent reductions, lower rental income due to tenant departures and lease cancellations, and bad debts resulting from declines in tenants’ creditworthiness.」
Closures of commercial facilities, tenant rent reductions and tenant departures continued to be recognized in practice as risks affecting rental income. - FY2022-Q3MaterialisedAnnual report
「The real estate leasing business remained in a difficult environment due to changes in the office environment and closures of commercial facilities. The vacancy rate of rental properties owned by the corporate group remained in the 0.3% range, but revenue decreased due in part to temporary tenant changes.」
Temporary tenant changes actually occurred, the vacancy rate was in the 0.3% range, and revenue from the leasing business decreased. - FY2020-Q3MaterialisedAnnual report
「The vacancy rate of rental properties owned by the corporate group has remained in the 0.7% range due to tenants vacating the TOHO Twin Tower Building ahead of its redevelopment, as well as temporary tenant changes and other factors.」
Tenants actually vacated the TOHO Twin Tower Building ahead of its redevelopment, and the vacancy rate was in the 0.7% range. - FY2018First statedAnnual report
「The Group owns numerous real estate properties and generates revenue from various leasing activities, including retail, restaurants and offices. However, the unexpected departure of a major tenant or other events could temporarily reduce revenue and materially affect the Group’s operating results and financial position.」
The disclosure identified as a risk the temporary decline in rental income resulting from the unexpected departure of a major tenant and the resulting impact on operating results and financial position.