Moderator: Thank you very much for taking time out of your busy schedule to join us today. We will start Tosei Corporation's financial results briefing for the fiscal year ended November 2021.
I would like to introduce today's speakers. Seiichiro Yamaguchi, President and CEO. Noboru Hirano, Director, CFO.
Mr. Hirano, Director, CFO, will now provide an overview of the financial results for the fiscal year ended November 2021, which begins on page 3 of the financial results presentation.
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Hirano: I would now like to explain the summary of financial results for the fiscal year ended November 2021, which starts on page 3.
First of all, as written in the middle of this page, our company used to be called the Securitization Business, but from this new fiscal year, we have changed the name to the Revitalization Business. The materials I will explain today include the contents of the previous fiscal year, but I would like to refer to all of them as the Revitalization Business.
*In English, the segment has been known as the "Revitalization Business" and will remain the same.
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First of all, please refer to the business highlights on page 4.
Overall revenue was JPY61.7 billion, a slight decrease of 3.5% from the same period last year, but as you can see in the bar graph on the upper right, income before income taxes was JPY10.3 billion, an increase of 74.6% from the previous year.
We were able to achieve a profit before tax that exceeded the initial plan by about 30%.
The bar graph of profit before tax in the upper right-hand corner is color-coded by quarter, and the figure for 4Q is a negative JPY180 million.
In 4Q, we postponed the sales in Revitalization and Development Business, which are Trading Businesses, to the next fiscal year and beyond as much as possible, and on the other hand, normal SG&A expenses were recorded in 4Q due to the opening of new hotels and expenses associated with M&A activities, which I will explain later. As a result, we posted a loss in 4Q alone. This is as we planned.
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TOSEI Corporation published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 07:51:01 UTC.
TOSEI CORPORATION is a real estate company. The Real Estate Revitalization segment sells real estate properties revitalized through implementation. The Real Estate Development segment engages in sale of condominiums and detached houses to individual customers, and rental condominiums and office buildings to investors. The Real Estate Leasing segment leases offices and condominiums. The Real Estate Fund Consulting segment engages in asset management business of real estate funds. The Real Estate Management segment provides comprehensive property management services.