Discontinuation of the real estate leasing business and sale of owned real estate
First written in FY2020-Q1. 4 of 7 entries say "Advanced", first in FY2020-Q2. Latest entry: FY2021.
0 other companies' latest entry also says "Achieved".
- FY2021AchievedAnnual report
「During the consolidated fiscal year, the carrying amount of rental real estate was reduced to its net selling price because a sale agreement had been concluded. The sale was completed in April 2021.」
The sale of the remaining rental real estate associated with the withdrawal from the real estate leasing business was completed in April 2021 under the sale agreement. - FY2021-Q2RestatedAnnual report
「During the first quarter consolidated accounting period, NSDリアルエステートサービス, formerly a consolidated subsidiary of the company, ceased to exist as a result of an absorption-type merger in which the company was the surviving entity, and was therefore excluded from the scope of consolidation.」
The absorption-type merger of NSDリアルエステートサービス in connection with the withdrawal from the real estate leasing business and its exclusion from the scope of consolidation were reaffirmed. No new sales or withdrawal milestones were indicated. - FY2021-Q1AdvancedAnnual report
「During the first quarter consolidated accounting period, NSDリアルエステートサービス, formerly a consolidated subsidiary of the company, ceased to exist as a result of an absorption-type merger in which the company was the surviving entity, and was therefore excluded from the scope of consolidation.」
As the withdrawal from the real estate leasing business and the sale of owned real estate progressed, the company absorbed NSDリアルエステートサービス, a related subsidiary, and excluded it from the scope of consolidation. - FY2020AdvancedAnnual report
「During the consolidated fiscal year, 7 properties classified as rental real estate and other real estate were sold as the company withdrew from the real estate leasing business.」
As the company withdrew from the real estate leasing business, 7 properties classified as rental real estate and other real estate were sold. Investment property decreased from approximately ¥7,294 million at the end of the previous consolidated fiscal year to approximately ¥1,089 million, indicating further progress in the withdrawal and sales. - FY2020-Q3AdvancedAnnual report
「The main factors behind the changes were an increase of ¥1,784 million in cash and deposits, an increase of ¥804 million in other investment assets, mainly assets related to retirement benefits, and a decrease of ¥5,400 million in investment property. …Net income attributable to owners of the parent increased 8.1% year on year to ¥4,540 million, as expenses for events commemorating the company's 50th anniversary, gains and losses on sales associated with the disposal of owned real estate, impairment losses and other items were recorded in extraordinary income and expenses.」
Regarding the discontinuation of the real estate leasing business and the sale of owned real estate, the company stated that investment property decreased by ¥5,400 million from the end of the previous consolidated fiscal year and that gains and losses on sales and impairment losses associated with the disposal were recorded. - FY2020-Q2AdvancedAnnual report
「The group previously had 2 reporting segments, the system solutions services business and the real estate leasing business, but changed to a single segment, the system solutions services business, from the first quarter cumulative period. This change was made because most of the real estate held in connection with the group's real estate leasing business had been sold during the second quarter cumulative period, and the group determined that a single business segment was appropriate.」
The company stated that most of the real estate held in connection with the real estate leasing business had been sold during the second quarter cumulative period. Proceeds from the sale of investment property were ¥4,964.643 million, indicating substantive progress toward becoming a single segment. - FY2020-Q1First statedAnnual report
「This is because the company determined that a single business segment was appropriate, as it plans to sell most of the real estate held in connection with our group's real estate leasing business.」
Against the backdrop of plans to sell most of the real estate held in the real estate leasing business, the company discontinued the reporting segment and transitioned to a single segment, the system solutions services business.