Financial Results

The following is Leopalace21's corporate results.

Leasing Business

Thanks to the occupancy improvement measures and slowdown in the spread of COVID-19, the average occupancy rate became 80.65% (up 2.07p compared with Q3 FY21/3).

Thanks to the occupancy improvement measures and slowdown in the spread of COVID-19, the monthly occupancy rates for Q3 of the fiscal year ending March 2022 exceeded the actual results for the same months in 2020. The occupancy rate at the end of Q3 FY22/3 was 80.45% (up 3.38p compared with Q3 FY21/3) and made the average rate of 80.65% (up 2.07p compared with Q3 FY21/3). The occupancy improvement measures included expanding tenant-oriented services such as promotion of smart apartment, introduction of industry-first electronic contract management system, promotion of web-based contracts, my DIY for customizing one of the room walls to the tenant's preference, and installation of home security system; strengthening the sales functions for corporate customers; and enhancing the support standard for increasing number of foreign national tenants. The number of web-based contracts exceeded cumulative 30,000 cases since the national roll-out in Q3 FY21/3. The number of rooms covered by the home security system reached 31,500 at the end of Q3 FY22/3. The Company is going to install smart locks in steps starting from June 2022 with the aim of increasing the tenants' convenience and promoting real estate tech.
The total number of units under management became 571,682 at the end of Q3 FY22/3, a reduction of 1,991 units from the end of FY21/3. The number of directly managed leasing sales offices was 109 at the end of Q3 FY22/3, a reduction of 30 from the end of FY21/3. The number of franchised leasing sales offices was 98, a reduction of 2 from the end of FY21/3.

Occupancy Rate

Occupancy rate

Related information

Sales

Consolidated net sales were JPY 297,470 million.

Consolidated net sales for Q3 FY22/3 were JPY 297,470 million (down 3.5% yoy), which went below the planned net sales of JPY 299,300 million by JPY1,829 million. The major factors behind it were lack of achieving the planned occupancy rates resulting from larger than expected number of leavers and continued decline of average rent revenue.

Sales

Sales by segment
  • * We revised earnings forecasts on November 8, 2021 and on February 4, 2022.
  • * Numerical targets reflect the latest plan.

Profits

Operating profit was JPY 4,275 million, an increase of JPY 20,860 million yoy.

Operating profit was JPY 4,275 million as a result of reducing the cost of sales and SGAE, which was an improvement of JPY 20,860 million yoy. Recurring profit was JPY 1,444 million mainly due to the recording of interest expenses of JPY 3,374 million. Net profit attributable to shareholders of the parent continued positive JPY 5,865 million largely due to the recording of reversal of provision for losses related to repairs of JPY 6,144 million in extraordinary income mainly because of the unit repair cost reduction combined with reduced number of buildings to be repaired due to updated deficiency judgment and increase of demolition.

Profits

Profits
  • * We revised earnings forecasts on November 8, 2021 and on February 4, 2022.
  • * Numerical targets reflect the latest plan.

More information about Leopalace21's growth strategy

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    August, 2022
    Announcement of business results for Q1 of FY2022



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