Risk of vacant dormitory rooms due to the cancellation of a major contract
First written in FY2018. 3 of 6 entries say "Restated". Latest entry: FY2023.
No other company in this theme has enough history to compare yet.
- FY2023MitigatedAnnual report
「Because most of these business-use sites and buildings are developed under lease agreements with landowners, the risk will be borne by the company if substantial vacancies arise despite the detailed measures described above, such as the discontinuation of a designated dormitory for a major school in the student dormitory business or the lump-sum cancellation of a major corporate customer's contract for an employee dormitory due to progress in restructuring or other factors.」
The company continues to disclose the vacancy risk arising from the discontinuation of large school and corporate contracts as a business risk. - FY2023-Q3MitigatedAnnual report
「As of 31 December 2022, there were 73 properties for which early termination was not possible, with total remaining non-cancellable lease payments of ¥135,630 million.」
The number of sites for which mid-term cancellation is not permitted was 73, unchanged from the previous figure, while the balance of remaining rent under non-cancellable leases decreased from ¥138,591 million to ¥135,630 million. - FY2021RestatedAnnual report
「Because most of these business-use sites and buildings are developed under lease agreements with landowners, the risk will be borne by the company if substantial vacancies arise despite the detailed measures described above, such as the discontinuation of a designated dormitory for a major school in the student dormitory business or the lump-sum cancellation of a major corporate customer's contract for an employee dormitory due to progress in restructuring or other factors.」
The company continues to disclose the risk of substantial vacancies arising from the discontinuation of designated school dormitories or the lump-sum cancellation of large corporate contracts. - FY2020RestatedAnnual report
「If the designation of a dormitory for a major school is discontinued in the student dormitory business, or if a major corporate customer cancels its employee dormitory contract in a lump sum due to progress in restructuring or other factors, and substantial vacancies arise, the risk will be borne by the company.」
The company continues to disclose the risk of substantial vacancies arising from the discontinuation of designated school dormitories or the lump-sum cancellation of large corporate contracts. - FY2019RestatedAnnual report
「In addition to the number of contracts in the student dormitory business returning to its previous growth trend, the number of contracts in the employee dormitory business increased significantly, bringing the number of contracted residents as of the end of March 2019 to 38,857, an increase of 1,466 from the same period of the previous year.」
While disclosing the vacancy risk arising from the cancellation of large contracts, the company reported an increase in the number of contracted residents in both its student and employee dormitory businesses during the fiscal year. - FY2018First statedAnnual report
「If the designation of a dormitory for a major school is discontinued in the student dormitory business, or if a major corporate customer cancels its employee dormitory contract in a lump sum due to progress in restructuring or other factors, and substantial vacancies arise, the risk will be borne by the company.」
The company discloses for the first time the risk of substantial vacancies arising from the discontinuation of designated school dormitories or the lump-sum cancellation of large employee dormitory contracts by companies.