This document has been translated from a part of the Japanese original for the convenience of non-Japanese shareholders. In the event of any discrepancy between this translation and the Japanese original, the original shall prevail.
August 11, 2020
Consolidated Financial Results
for the First Three Months of the Fiscal Year Ending March 31, 2021
J-GAAP> | ||
Company name: Pressance Corporation Co., Ltd. | ||
Listing: | First Section of the Tokyo Stock Exchange | |
Section code: | 3254 | |
URL: | http://www.pressance.co.jp/ | |
Representative: | Yutaka Doi, President and Representative Director | |
Contact: | Kyosuke Ichikawa, Executive Officer, Deputy General Manager of Management Division, | |
and General Manager of Accounting Department | ||
TEL: +81-6-4793-1650 | ||
Scheduled date of filing of quarterly securities report: | August 12, 2020 | |
Scheduled starting date for dividend payments: | - |
Preparation of supplementary quarterly materials for financial results: Yes
Holding of quarterly financial results presentation meeting: No
(Values of less than one million rounded down)
1. Consolidated operating results for the first three months of the fiscal year ending March 31, 2021 (from April 1, 2020 to June 30, 2020)
(1) Consolidated operating results (cumulative) | (Percentages indicate year-on-year | ||||||||
changes compared to the same | |||||||||
period of the previous FY) | |||||||||
Net sales | Operating profit | Ordinary profit | Profit attributable to | ||||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||
First three months of the fiscal | |||||||||
year ending March 31, 2021 | 65,901 | (3.4) | 11,906 | (15.4) | 11,962 | (14.1) | 8,181 | (14.8) | |
First three months of the fiscal | |||||||||
year ended March 31, 2020 | 68,240 | (16.3) | 14,066 | (27.0) | 13,926 | (27.3) | 9,603 | (26.8) |
Note: Comprehensive income First three months of the fiscal year ending March 31, 2021: | 8,239 million yen [(13.8) %] |
First three months of the fiscal year ended March 31, 2020: | 9,556 million yen [(27.4) %] |
Basic earnings | Diluted earnings per | |
per share | share | |
Yen | Yen | |
First three months of the fiscal | ||
year ending March 31, 2021 | 127.19 | 127.15 |
First three months of the fiscal | ||
year ended March 31, 2020 | 154.69 | 149.46 |
(2) Consolidated financial position
Total assets | Net assets | Equity ratio | |||
Millions of yen | Millions of yen | % | |||
As of June 30, 2020 | 298,974 | 124,140 | 41.0 | ||
As of March 31, 2020 | 310,779 | 116,690 | 37.1 | ||
Reference: Equity | |||||
As of June 30, 2020: | 122,659 million yen | ||||
As of March 31, 2020: | 115,253 million yen |
1
2. Dividends
Annual dividends per share | ||||||
1st quarter-end | 2nd quarter-end | 3rd quarter-end | Year-end | Annual total | ||
Yen | Yen | Yen | Yen | Yen | ||
Fiscal year ended | ||||||
March 31, 2020 | - | 26.00 | - | 13.00 | 39.00 | |
Fiscal year ending | ||||||
March 31, 2021 | - | |||||
Fiscal year ending | ||||||
March 31, 2021 (Forecast) | - | - | - | - |
Note: Revisions to the dividends forecasts most recently announced: None
Note: According to the Article of Incorporation of the Company, the record dates for dividends are the end of the second quarter and the end of the fiscal year; however, at the time of the release of this document, the dividend forecast amounts for these record dates have yet to be determined. At the point when disclosure becomes possible, the Company will promptly release the amount of the interim and year-end dividends for the fiscal year ending March 31, 2021.
3. Forecasts of consolidated operating results for the fiscal year ending March 31, 2021
(from April 1, 2020 to March 31, 2021)
(Percentages indicate year-on-year changes.)
Profit attributable to | Basic | |||||||||
Net sales | Operating profit | Ordinary profit | earnings | |||||||
owners of parent | ||||||||||
per share | ||||||||||
Millions of yen | % | Millions of | % | Millions of | % | Millions of | % | Yen | ||
yen | yen | yen | ||||||||
Half year | 102,288 | (18.4) | 16,080 | (32.1) | 15,469 | (33.9) | 10,665 | (31.9) | 165.79 | |
Full year | - | - | - | - | - | - | - | - | - |
Note: Revisions to the results forecasts most recently announced: None
Note: The impact of the COVID-19 outbreak is reflected in the consolidated results forecasts for the first half of the fiscal year ending March 31, 2021 based on the information available to the Company at the time of disclosure; however, the forecasts may change substantially. For the full fiscal year ending March 31, 2021, the consolidated results forecasts are not provided given that, at the time of disclosure, it is difficult to rationally estimate the impact of the future influence of the virus outbreak and the timing of when the epidemic will dissipate. At the point when estimation becomes possible, the Company will promptly release the full year forecasts.
- Notes
- Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in scope of consolidation): None
-
Adoption of specific accounting policies for quarterly consolidated financial statements: Yes
(Corporate Income Tax Calculation Standards)
Regarding taxes, a reasonable estimate of the effective tax rate for the projected full-year pretax income for the current fiscal year, including the actual income figure for the first three months of the fiscal year, has been arrived at using the tax-effect accounting method. - Changes in accounting policies, changes in accounting estimates and restatement after error corrections
- Changes in accounting policies due to amendments to accounting standards and other regulations: None
- Changes in accounting policies due to other reasons than a. above: None
- Changes in accounting estimates: None
- Restatement after error corrections: None
- Number of issued shares (common stock)
- Number of issued shares at the end of each period (including treasury shares)
As of June 30, 2020 | 65,198,961 shares |
As of March 31, 2020 | 65,198,961 shares |
- Number of treasury shares at the end of each period
As of June 30, 2020 | 870,054 shares |
As of March 31, 2020 | 870,054 shares |
2
c. Average number of shares during the period
First three months of the fiscal year ending March 31,2021 | 64,328,907 shares |
First three months of the fiscal year ended March 31,2020 | 62,077,641 shares |
Notes:
Due to the introduction of the share-based payment type ESOP, a certain number of shares of the Company held in the trust account is included in the "Number of treasury shares at the end of period" (313,320 shares for the 1st quarter of the fiscal year ending March 31, 2021 and 313,320 shares for the fiscal year ended March 31, 2020). And a certain number of shares held in the trust account is included in the treasury shares that were deducted in the calculation of the "Average number of outstanding shares during the period" (313,320 shares for the 1st quarter of the fiscal year ending March 31, 2021 and 313,980 shares for the 1st quarter of the fiscal year ended March 31, 2020).
- Quarterly financial results report by public accountants or auditing firms are not required
- Explanations about the proper use of financial forecasts and other important notes (Caution Concerning Forward-looking Statements)
Forward-looking statements in this document, including the results forecasts, are based on the information available to the Company at the time of disclosure and on certain assumptions deemed to be practicable by the Company. These statements do not purport that the Company pledges or ensures to achieve such statements. Actual business and other results may differ substantially due to various factors. For preconditions to the assumptions and other important notes concerning the financial forecasts, please refer to "1. Quarterly Qualitative Information (3) Explanation for the Forecast of Consolidated Financial Results ending March 31, 2021 on page 5 of the attachment.
(Method of Obtaining Supplementary Materials for Quarterly Financial Results)
Supplementary materials for quarterly financial results are available on the Company's website.
3
1. Quarterly Qualitative Information
(1) Business Results
During the first three months of the consolidated fiscal year, the Japanese economy plummeted due to the impact of the COVID-19 pandemic, and the business environment remained challenging.
In the real estate industry, the interest rates on housing loans remain low while the Japanese government's ongoing measures to support homebuyers, such as mortgage tax breaks, remain on track, and more people have tended to move into the center of cities seeking the convenience of urban living. Although these and other factors are supporting the demand for condominiums, the outlook is uncertain due to the impact of the COVID-19 pandemic.
In these business circumstances, Pressance Corporation Co, Ltd. (the "Company") has focused on supplying condominiums in selected areas in the central part of major cities in the Kinki and Tokai/Chukyo and other core regions, which are our major sales areas.
Under such business condition, the Company posted the following consolidated performance for the first three months of the fiscal year ending March 31, 2021: net sales amounted to 65,901 million yen (down 3.4% year on year), operating profit amounted to 11,906 million yen (down 15.4% year on year), ordinary profit amounted to 11,962 million yen (down 14.1% year on year) and profit attributable to shareholders of the parent company amounted to 8,181 million yen (down 14.8% year on year).
An overview of operating results by product segment is as follows:
Real Estate Sale Business
In the real estate sales business, Pressance Loger Kyoto Nishioji Gojo (64 units), a family-type condominium in the Pressance Loger series, and Pressance OSAKA DOMECITY BEATS (154 units), a Pressance series studio condominium, have performed favorably.
However, as economic activities have been constrained by the COVID-19 pandemic, the Company's business has also been impacted, resulting in a significant decline in the sales of studio condominiums, among others. The sales of studio condominium amounted to 17,413 million yen (1,018 units), sales of family-type condominium amounted to 42,668 million yen (1,202 units), sales of other type of housing amounted to 824 million yen (38 units), sales of other real estate amounted to 2,302 million yen, business accompanying real estate sales amounted to 509 million yen. Total sales of real estate sale business posted 63,719 million yen (down 4.2% year on year) and, operating profit amounted to 11,595 million yen (down 15.5% year on year). Starting from the first three months of the fiscal year ending March 31, 2021, "sales of condominium building" is included in "sales of studio condominiums.
Since sales from the condominium business, our main business, are recorded on a delivery basis that is later than completion, there may be fluctuation in the quarterly sales results depending on the timing of land acquisition, development plans and/or construction schedules.
Other Business
The sales of other business, such as the Rental property business and the Real estate management fee business, amounted to 2,182 million yen (up 25.9% year on year) due to an increase in rents revenue with an increase in guaranteed rent properties, while segment profit amounted to 676 million yen (down 2.7% year on year) due to an increase in rent payments related to rent guarantees.
-
Financial Position Current Assets
Total current assets as of the end of the first three months of the fiscal year amounted to 284,230 million yen (down 4.0%), which represents a decrease of 11,836 million yen compared to the end of the previous fiscal year. This was mainly due to a decrease in inventory of 16,524 million yen, while there was an increase in cash and deposits of 3,990 million yen.
Fixed Assets
Total fixed assets as of the end of the first three months of the fiscal year amounted to 14,743 million yen (up 0.2%), which represents an increase of 31 million yen compared to the end of the previous fiscal year. This increase was mainly due to an increase in loans to affiliates of 381 million yen, while there was a decrease in real estate for rent by 337 million yen, selling a self-owned real estate for rent.
4
Liabilities
Total liabilities as of the end of the first three months of the fiscal year amounted to 174,833 million yen (down 9.9%), which represents a decrease of 19,255 million yen compared to the end of the previous fiscal year. This was mainly due to decreases in "Loan payable to bank" of 10,958 million yen and "Advances received" of 5,422 million yen along with the delivery of the condominiums.
Net Assets
Total net assets as of the end of the first three months of the fiscal year amounted to 124,140 million yen (up 6.4%), which represents an increase of 7,499 million yen compared to the end of the previous fiscal year. This was principally due to the increase in retained earnings by 7,341 million yen because of the posting of quarterly profit attributable to the shareholders of the parent company.
Analysis on Cash Flows
Cash and cash equivalents as of the end of the first three months of the fiscal year ending March 31, 2021, totaled 45,674 million yen (up 9.6%), which represents an increase of 3,990 million yen compared to the end of the previous fiscal year.
The status and factors in each cash flow for the first three months of the fiscal year are as follows:
Cash Flows from Operating Activities
Net cash provided by operating activities came to 15,857 million yen (Compared with 7,184 million yen provided in the first quarter of the previous fiscal year).
This was mainly due to cash inflow resulting from a decrease in inventories by 16,530 million following the delivery of condominiums and the posting of 11,962 million yen in profit before income taxes, while there were cash outflows as a result of a decrease in advances received by 5,435 million yen following the delivery of condominiums and a decrease in notes and accounts payable - trade by 3,956 million yen reflecting an increase in the settlement of electronically recorded obligations - operating.
Cash Flows from Investment Activities
Net cash used in investment activities came to 90 million yen (Compared with 104 million yen used in the same period of the previous fiscal year).
The decrease was mainly due to cash outflows by 383 million yen of loans to affiliates, while there were cash inflows by 302 million yen of revenue from the sale of fixed assets.
Cash Flows from Financing Activities
Net cash used in financing activities came to 11,776 million yen (Compared with 12,679 million yen used in the same period of the previous fiscal year).
The decrease was due to the net decrease in bank loans by 10,958 million yen and the dividend payment of 818 million yen, resulting in a decrease in capital.
-
Explanation for the Forecast of Consolidated Financial Results ending March 31, 2020
Condominium sales, our major business, have a tendency to give an excessive skewness or deformations in a specific quarter results due to the timing of delivery of condominium, since sale of condominium is to be posted on the basis of delivery of the condominium unit.
With respect to the results forecasts, it is extremely difficult to foresee the magnitude of the impacts caused by the COVID-19 outbreak and the timing of when the epidemic will dissipate, and uncertainty is clouding the economic and market outlook. Under such circumstances, it is difficult to rationally estimate the results forecasts. Therefore, the Company has suspended full year forecasting for the fiscal year ending March 31, 2021 but is announcing forecasts limited to the first half of the fiscal year, for which we can obtain a relatively clearer picture. At the point when estimation becomes possible, we will promptly release the results forecasts for the full fiscal year.
5
Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Balance Sheets
(Millions of yen) | |||
As of March 31, 2020 | As of June 30, 2020 | ||
Assets | |||
Current assets | |||
Cash and deposits | 44,774 | 48,764 | |
Accounts receivable - trade | 142 | 196 | |
Real estate for sale | 27,074 | 31,385 | |
Real estate for sale in process | 217,964 | 197,185 | |
Raw materials and supplies | 293 | 236 | |
Other | 5,817 | 6,461 | |
Total current assets | 296,066 | 284,230 | |
Non-current assets | |||
Property, plant and equipment | |||
Real estate for rent, net | 6,993 | 6,655 | |
Other, net | 647 | 597 | |
Total property, plant and equipment | 7,640 | 7,253 | |
Intangible assets | 254 | 225 | |
Investments and other assets | 6,817 | 7,264 | |
Total non-current assets | 14,712 | 14,743 |
Total assets
Liabilities
Current liabilities
Notes and accounts payable - trade Electronically recorded obligations - operating Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Advances received
Provision for bonuses
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Provision for share-based payment
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income Valuation difference on available-for-salesecurities Foreign currency translation adjustment
310,779 | 298,974 |
324 | 864 |
8,923 | 4,638 |
1,904 | 5,610 |
71,180 | 65,909 |
7,428 | 10,830 |
10,788 | 5,365 |
254 | 370 |
6,514 | 3,909 |
107,318 | 97,499 |
85,903 | 76,511 |
196 | 196 |
669 | 626 |
86,770 | 77,334 |
194,088 | 174,833 |
4,290 | 4,290 |
5,292 | 5,292 |
106,609 | 113,951 |
(887) | (887) |
115,306 | 122,647 |
(1) | (2) |
(50) | 14 |
Total accumulated other comprehensive income | (52) | 11 |
Subscription rights to shares | 264 | 315 |
Non-controlling interests | 1,172 | 1,166 |
Total net assets | 116,690 | 124,140 |
Total liabilities and net assets | 310,779 | 298,974 |
6
-
Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
(Millions of yen) | |||
First three months of the | First three months of the | ||
fiscal year ended | fiscal year ending | ||
March 31, 2020 | March 31, 2021 | ||
Net sales | 68,240 | 65,901 | |
Cost of sales | 48,436 | 48,935 | |
Gross profit | 19,804 | 16,966 | |
Selling, general and administrative expenses | 5,737 | 5,060 | |
Operating profit | 14,066 | 11,906 | |
Non-operating income | |||
Interest income | 0 | 0 | |
Dividend income | 0 | 0 | |
Purchase discounts | 0 | 1 | |
Share of profit of entities accounted for using equity | 31 | 11 | |
method | |||
Commission fee | 13 | 21 | |
Penalty income | 34 | 240 | |
Other | 30 | 88 | |
Total non-operating income | 110 | 364 | |
Non-operating expenses | |||
Interest expenses | 227 | 209 | |
Foreign exchange losses | 23 | 14 | |
Commission fee | 0 | 0 | |
Other | 0 | 83 | |
Total non-operating expenses | 250 | 307 | |
Ordinary profit | 13,926 | 11,962 | |
Profit before income taxes | 13,926 | 11,962 | |
Income taxes | 4,324 | 3,786 | |
Net income | 9,601 | 8,176 | |
(Loss) attributable to non-controlling interests | (1) | (5) | |
Profit attributable to owners of parent | 9,603 | 8,181 |
7
Quarterly Consolidated Statements of Comprehensive Income
(Millions of yen) | |||||||
First three months of the | First three months of the | ||||||
fiscal year ended | fiscal year ending | ||||||
March 31, 2020 | March 31, 2021 | ||||||
Net income | 9,601 | 8,176 | |||||
Other comprehensive income | |||||||
Valuation difference on available-for-sale securities | 1 | (1) | |||||
Foreign currency translation adjustment | (49) | 46 | |||||
Share of other comprehensive income of entities | 2 | 18 | |||||
accounted for using equity method | |||||||
Total other comprehensive income | (45) | 63 | |||||
Comprehensive income | 9,556 | 8,239 | |||||
Comprehensive income attributable to | |||||||
Comprehensive income attributable to owners of parent | 9,557 | 8,245 | |||||
Comprehensive income attributable to non-controlling | (1) | (5) | |||||
interests |
8
(3) Quarterly Consolidated Statements of Cash Flows
(Millions of yen) | |||||||
First three months of the | First three months of the | ||||||
fiscal year ended | fiscal year ending | ||||||
March 31, 2020 | March 31, 2021 | ||||||
Cash flows from operating activities | |||||||
Income before income taxes | 13,926 | 11,962 | |||||
Depreciation | 118 | 66 | |||||
Amortization of goodwill | 25 | 25 | |||||
Interest and dividend income | (0) | (1) | |||||
Interest expenses | 227 | 209 | |||||
Foreign exchange losses (gains) | 20 | 14 | |||||
Share of (profit) loss of entities accounted for using | (31) | (11) | |||||
equity method | |||||||
Decrease (increase) in inventories | 579 | 16,530 | |||||
Increase (decrease) in notes and accounts payable - trade | (381) | (3,956) | |||||
Share-based remuneration expenses | - | 60 | |||||
Increase (decrease) in provision for bonuses | 82 | 116 | |||||
Increase (decrease) in provision for directors' retirement | (623) | - | |||||
benefits | |||||||
Increase (decrease) in advances received | (1,806) | (5,435) | |||||
Decrease (increase) in consumption taxes refund | 59 | 280 | |||||
receivable | |||||||
Increase (decrease) in accrued consumption taxes | (178) | 148 | |||||
Other | 592 | (3,690) | |||||
Subtotal | 12,610 | 16,320 | |||||
Interest and dividend income received | 0 | 1 | |||||
Interest expenses paid | (204) | (211) | |||||
Income taxes paid | (5,221) | (252) | |||||
Net cash provided by (used in) operating activities | 7,184 | 15,857 | |||||
Cash flows from investing activities | |||||||
Purchase of non-current assets | (49) | (8) | |||||
Proceeds from sales of non-current assets | - | 302 | |||||
Purchase of investment securities | (0) | (0) | |||||
Payments for investments in capital of subsidiaries and | (54) | (383) | |||||
associates | |||||||
Net cash provided by (used in) investing activities | (104) | (90) | |||||
Cash flows from financing activities | |||||||
Proceeds from long-term loans payable | 15,226 | 948 | |||||
Repayments of long-term loans payable | (26,572) | (15,612) | |||||
Cash dividends paid | (1,409) | (818) | |||||
Net increase (decrease) in short-term loans payable | 77 | 3,706 | |||||
Net cash provided by (used in) financing activities | (12,679) | (11,776) | |||||
Effect of exchange rate change on cash and cash equivalents | (4) | 0 | |||||
Net increase (decrease) in cash and cash equivalents | (5,602) | 3,990 | |||||
Cash and cash equivalents at beginning of period | 39,400 | 41,684 | |||||
Cash and cash equivalents at end of period | 33,797 | 45,674 |
9
Others
- Orders and sales a. Actual orders
First three months of the fiscal year ended March 31, 2020 (from April 1, 2019 to June 30, 2019)
Total amount of contracts | Outstanding balance of contracts | |||||||||
Name of | Category | Number of | Year on | Amount | Year on | Number of | Year on | Amount | Year on | |
segment | (Millions | (Millions | ||||||||
units | year (%) | year (%) | units | year (%) | year (%) | |||||
of yen) | of yen) | |||||||||
Studio | 883 | 59.7 | 17,269 | 71.0 | 3,345 | 137.3 | 58,604 | 151.5 | ||
condominiums | ||||||||||
Family-type | 604 | 144.8 | 22,448 | 145.2 | 2,016 | 144.3 | 73,901 | 144.9 | ||
condominiums | ||||||||||
Real | ||||||||||
Sale of hotel | 126 | 26.5 | 2,050 | 16.1 | 1,054 | 98.5 | 25,708 | 106.2 | ||
estate sale | ||||||||||
property | ||||||||||
business | ||||||||||
Sale of other | 60 | 333.3 | 1,170 | 509.4 | 36 | 600.0 | 867 | 721.2 | ||
type of housing | ||||||||||
Sale of other real | - | - | 976 | 594.2 | - | - | 5,176 | - | ||
estate | ||||||||||
Total amount of | 1,673 | 70.0 | 43,914 | 83.0 | 6,451 | 131.4 | 164,258 | 144.1 | ||
reportable segments | ||||||||||
First three months of the fiscal year ending March 31, 2021 (from April 1, 2020 to June 30, 2020)
Total amount of contracts | Outstanding balance of contracts | |||||||||
Name of | Category | Number of | Year on | Amount | Year on | Number of | Year on | Amount | Year on | |
segment | (Millions | (Millions | ||||||||
units | year (%) | year (%) | units | year (%) | year (%) | |||||
of yen) | of yen) | |||||||||
Studio | 785 | 88.9 | 12,618 | 73.1 | 3,238 | 96.8 | 55,761 | 95.1 | ||
condominiums | ||||||||||
Family-type | 381 | 63.1 | 14,386 | 64.1 | 1,236 | 61.3 | 47,432 | 64.2 | ||
Real | condominiums | |||||||||
Sale of hotel | - | - | ||||||||
estate sale | (240) | (3,935) | 330 | 31.3 | 9,920 | 38.6 | ||||
property | ||||||||||
business | ||||||||||
Sale of other | 42 | 70.0 | 844 | 72.1 | 47 | 130.6 | 1,249 | 144.1 | ||
type of housing | ||||||||||
Sale of other | - | - | 2,296 | 235.1 | - | - | 4,966 | 95.9 | ||
real estate | ||||||||||
Total amount of | 968 | 57.9 | 26,209 | 59.7 | 4,851 | 75.2 | 119,331 | 72.6 | ||
reportable segments | ||||||||||
Notes:
- In the table above, "total amount of orders" has been replaced with "total amount of contracts.
- Consumption taxes are not included in the above amounts.
- Amounts of additional constructions are included in the above amounts.
- Number of units in total amount of contracts and the outstanding balance of contracts may fluctuate due to change of business plan and others.
- The sale of other type of housing refers to the sale of houses other than newly built condominiums, including used houses and detached houses.
- The sale of other real estate refers to the sale of real estate other than housing, including commercial stores and lands for development.
- Starting from the first three months of the fiscal year ending March 31, 2021, "sale of condominium building" is included in "studio condominiums." For ease of comparison, the figures for the first three months of the fiscal year ended March 31, 2020 have been recast to conform to the current presentation.
- The total amount of contracts for the sale of hotel property in the first three months of the fiscal year ending March 31, 2021 turned out to be negative as a result of cancellation during the first three months under review of the sale contracts recorded in or before the fiscal year ended March 31, 2020.
- The contract amounts of other real estate sales for the first three months of the previous fiscal year are related to land for development (335 million yen) and office buildings (641 million yen), while outstanding contract amounts are related to land for development (4,535 million yen) and office buildings (641 million yen). Amounts of contracts and the outstanding balance of contracts for sale of other real estate for the first three months of the fiscal year ending March 31, 2021 refer to lands for development.
10
b. Actual sales
The first three months of FY ended March 31, 2020 | The first three months of FY ending March 31, 2021 | |||||||||
Name of | (from April 1, 2019 to June 30, 2019) | (from April 1, 2020 to June 30, 2020) | ||||||||
Category | Amount | Amount | ||||||||
segment | Number of | Year on | Year on | Number of | Year on | Year on | ||||
(Millions | (Millions | |||||||||
units | year (%) | year (%) | units | year (%) | year (%) | |||||
of yen) | of yen) | |||||||||
Studio | 1,680 | 99.7 | 32,235 | 109.1 | 1,018 | 60.6 | 17,413 | 54.0 | ||
condominiums | ||||||||||
Family-type | 711 | 61.1 | 26,135 | 58.3 | 1,202 | 169.1 | 42,668 | 163.3 | ||
condominiums | ||||||||||
Sale of hotel | 126 | 52.5 | 2,050 | 44.5 | - | - | - | - | ||
Real estate | property | |||||||||
sale | Sale of other | 43 | 215.0 | 760 | 321.6 | 38 | 88.4 | 824 | 108.4 | |
business | type of housing | |||||||||
Sale of other | - | - | 5,000 | 3,041.4 | - | - | 2,302 | 46.1 | ||
real estate | ||||||||||
Business | - | - | - | - | ||||||
accompanying | 325 | 84.2 | 509 | 156.5 | ||||||
real estate sale | ||||||||||
Total amount of | 2,560 | 82.3 | 66,506 | 83.3 | 2,258 | 88.2 | 63,719 | 95.8 | ||
reportable segments | ||||||||||
Other | - | - | 1,734 | 100.8 | - | - | 2,182 | 125.9 | ||
Total | 2,560 | 82.3 | 68,240 | 83.7 | 2,258 | 88.2 | 65,901 | 96.6 |
Notes:
- Consumption taxes are not included in the above amounts.
- Amounts of additional constructions are included in the above amounts.
- The sale of other type of housing refers to the sale of houses other than newly built condominiums, including used houses and detached houses.
- The sale of other real estate refers to the sale of real estate other than housing, including commercial stores and lands for development.
- Business accompanying real estate sale includes income from post-delivery optional construction work such as floor coating and income from intermediation fees from real estate sales.
- Other real estate sales for the first three months of the previous fiscal year and for the first three months of the fiscal year ending March 31, 2021 are related to land for development.
- Starting from the first three months of the fiscal year ending March 31, 2021, "sale of condominium building" is included in "studio condominiums." For ease of comparison, the figures for the first three months of the fiscal year ended March 31, 2020 have been recast to conform to the current presentation.
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PRESSANCE Corporation published this content on 20 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2020 07:16:09 UTC