Downsizing of the Housing Business
First written in FY2022-Q1. 2 of 5 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2023-Q1.
No other company in this theme has enough history to compare yet.
- FY2023-Q1AdvancedAnnual report
「Regarding the housing business, because its quantitative significance has diminished as a result of the business contraction, we have changed the presentation to include it under "Other" among the reportable segments.」
As the housing business has continued to contract, it reached the stage where, from the first quarter of the current consolidated fiscal year, it was excluded from the reportable segments and presented under "Other." - FY2022RestatedAnnual report
「As the Company significantly downsized the business, including suspending sales of newly built detached houses, during the current consolidated fiscal year, its operating activities were limited mainly to inventory sales.」
Following the suspension and significant downsizing of the housing business, the Company continued limited operations, such as inventory sales, throughout the full fiscal year. - FY2022-Q3RestatedAnnual report
「As the Company significantly downsized the business, including suspending sales of newly built detached houses, during the second quarter of the current consolidated cumulative period, its operating activities during the third quarter of the current fiscal year were limited mainly to inventory sales.」
Following the suspension and significant downsizing of the housing business, the Company continued limited operating activities, such as inventory sales, during the current quarter. - FY2022-Q2AdvancedAnnual report
「During the second quarter of the current consolidated cumulative period, the Company significantly downsized the business by suspending sales of newly built detached houses, selling inventory in bulk and reducing headcount. As a result, revenue was ¥427 million, down 23.0% year on year, and the operating loss was ¥124 million, compared with a loss of ¥160 million in the same period of the previous year.」
The downsizing of the housing business progressed to the execution stage through the suspension of sales, bulk inventory sales and headcount reductions. Revenue declined, while the operating loss narrowed. - FY2022-Q1First statedAnnual report
「The consolidated subsidiary 株式会社テーオーフォレスト decided to downsize the housing business it operates.」
As part of the portfolio restructuring, the Company disclosed for the first time its decision to downsize the housing business operated by 株式会社テーオーフォレスト.