Head Office Building Built to Old Seismic Standards and Consideration of Relocation
First written in FY2016. 3 of 8 entries say "Restated". Latest entry: FY2019-Q3.
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- FY2019-Q3DroppedAnnual report
「The relocation of the head office and Tokyo Branch offices on 3 December 2018 and the sale of the land and building occupied by the head office and Tokyo Branch, as business-use real estate, on 20 December 2018 have eliminated the issue of the aging head office building described in “(5) Issues relating to the aging head office building” in the previous fiscal year's annual securities report.」
The relocation of the head office and Tokyo Branch and sale of the former building have explicitly eliminated the risk associated with the old and aging head office building constructed under the former seismic standards. - FY2019-Q2MitigatedAnnual report
「The land and building occupied by the head office and Tokyo Branch, at a sale price of ¥2,250 million, were also sold on 20 December 2018.」
For the old and aging head office and Tokyo Branch building constructed under the former seismic standards, the scheduled sale of the land and building was completed, mitigating the relevant risk. Completion of the relocation cannot be confirmed from this disclosure alone. - FY2019-Q1RestatedAnnual report
「Scheduled property handover date December 2018 (scheduled)」
For the old and aging head office and Tokyo Branch building constructed under the former seismic standards, the sale agreement and scheduled handover in December 2018 continue to be disclosed. No new progress or completed handover is disclosed. - FY2018AdvancedAnnual report
「To reduce these risks, we will hand over this building in December 2018 (scheduled) under the sale and purchase agreement executed on 29 September 2017 and will relocate the head office and Tokyo Branch at around the same time.」
For the old and aging head office building constructed under the former seismic standards, handover of the land for sale had been completed following execution of the sale and purchase agreement, and the head office and Tokyo Branch building had progressed to the scheduled handover and relocation in December 2018. - FY2018-Q3RestatedAnnual report
「As part of our business continuity plan (BCP), we have decided to sell the land and building occupied by the head office and Tokyo Branch, together with the adjacent land.」
For the aging head office and Tokyo Branch building and other properties constructed under the former seismic standards, the disclosure continues to state that the sale and purchase agreement has been executed and that handover was scheduled for May and December 2018. No further progress from the previous quarter is disclosed. - FY2018-Q2RestatedAnnual report
「At a meeting of our Board of Directors held on 14 September 2017, we resolved to sell the assets as described below and executed a sale and purchase agreement dated 29 September 2017.」
For the aging head office and Tokyo Branch building and other properties constructed under the former seismic standards, the disclosure provides details of the decision to sell and execution of the contract as part of the BCP, the sale price and the scheduled handover in December 2018. No further progress from the sale policy stated in the previous quarter is disclosed. - FY2018-Q1AdvancedAnnual report
「As part of our business continuity plan (BCP), we have decided to sell the land and building occupied by the head office and Tokyo Branch, together with the adjacent land.」
For the aging head office and Tokyo Branch building constructed under the former seismic standards, the matter progressed from consideration, including relocation, to a decision to sell and execution of a contract. Handover of the land and building occupied by the head office and Tokyo Branch was scheduled for December 2018. - FY2016First statedAnnual report
「The building was constructed under the former seismic standards, and, given its age, we believe it has seismic issues in the event of a major earthquake, including a direct-hit earthquake. We continue to consider relocating the head office and Tokyo Branch, among other options.」
For the head office building completed in 1969, where approximately half of all employees work, the disclosure describes seismic concerns and consideration of relocation.