Financial Results

The following is Leopalace21's corporate results.

Leasing Business

Mainly due to the suspension of new tenant recruitment into apartments subject to priority investigations, the average occupancy rate was 80.78% (down 7.56p year-on-year).

Since new tenant recruitments on properties were delayed because of prioritization on priority investigations and belated organizational response to support repair works, as well as restricted demand for new hires and relocations because of COVID-19 impact in Q4, the busiest months, the occupancy rate at the end of the subject fiscal year was 83.07% (down 1.26 points year-on-year) and the average occupancy rate was 80.78% (down 7.56 points year-on-year). We implemented measures such as tenant recruitment utilizing the network of directly-managed stores, franchises, and local real estate brokers, propulsion of smart apartments, the industry-first electronic rental agreement service and expanding tenant services including "my DIY" and security system installations. In addition, we further strengthened sales to corporate and enhanced support to foreign tenants in order to expand foreign clients. Cumulative number of users for "my DIY" exceeded 48 thousand. Apartments with security systems installed increased, and accounted for 310 thousand rooms (54.4% of total units) at the end of FY20/3.
The number of units under management at the end of FY20/3 was 575,798 (up 1,000 year-on-year) and the number of directly-managed stores was 189 (no change from the end of the previous year). The number of franchised stores was 106 (decreasing 7 year-on-year).

Occupancy Rate

Occupancy rate

Related information

Development Business

New construction subcontracting operations are suspended because of construction defects issues.

Orders decreased due to the suspension of new construction subcontracting operations because of construction defects issues in addition to the financial institutions' more cautious loan approval policy for apartment constructions and the intensified competition in the metropolitan areas. Orders received during FY20/3 was 7,814 million yen (down 87.9% year-on-year), and orders received outstanding was 27,696 million yen (down 55.6% year-on-year).
The number of offices was 29 (decreasing 21 year-on-year).
Morizou Co.,Ltd., a subsidiary, provides luxury custom-built homes made of Japanese cypress.

Orders Received

Order results

Sales

Consolidated net sales were 433,553 million yen.

Consolidated net sales during FY20/3 were 433,553 million yen (down14.2% year-on-year). Net sales in the Leasing Business were 388,939 million yen (down 8.8% year-on-year) and 23,806 million yen in the Development Business (down 59.6% year-on-year).

Sales by segment

Sales by segment

Profits

Operating loss was 36,473 million yen (operating profit of 7,390 million yen for previous fiscal year)

Gross profit was 25,441 million yen (down 66.6% year-on-year), operating loss was 36,473 million yen (operating profit of 7,390 million yen for previous fiscal year), and recurring loss was 36,341 million yen (recurring profit of 7,063 million yen for previous fiscal year). Net loss attributable to shareholders of the parent was 80,224 million yen (a loss increase of 11,561 million yen compared to the previous fiscal year). This was due to extraordinary losses of 24,395 million yen recorded as a reserve for repairs and other incidental expenses related to construction defects, 7,620 million yen recorded as an impairment loss for non-current assets and goodwill, and 21,485 million yen recorded as income taxes adjustment (loss).

In the Leasing Business, operating loss was 20,828 million yen (operating profit of 14,987 million yen for previous fiscal year). In the Development Business, operating loss was 5,181 million yen (a loss increase of 4,185 million yen compared to the previous fiscal year).

Profits

Profits

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FY March 2019



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    September 30, 2020
    Announcement of business results for the three months ended June 30, 2020



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