Corporate Results

The following is Leopalace21's corporate results.

Leasing Business

Due to the suspension of new tenant recruitment into apartments subject to top-priority investigations, the average occupancy rate was 80.47% (down 8.95p from the end of the same period of the previous year).

In the Leasing Business, both occupancy rates and profits decreased by the delay in repair works and in new tenant recruitment in properties subject to top-priority investigations. The occupancy rate at the end of third quarter was 78.91% (down 6.35p from the end of the same period of the previous year) and the average occupancy rate was 80.47% (down 8.95p from the same period of the previous year). We implemented measures such as tenant recruitment utilizing the network of directly-managed stores, franchises, and local real estate brokers, and expanding tenant services including "my DIY" and security system installations. In addition, the Group further strengthened sales to corporate and foreign clients through enhanced support to foreign tenants. Cumulative number of users for"my DIY" exceeded 45 thousand. Apartments with security systems installed increased, and accounted for 310 thousand rooms (54.3% of total units) at the end of December 2019.
The number of units under management at the end of the third quarter was 575,741 (up 943 from the end of the previous 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 from the end of the previous 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 the cumulative third quarter (including orders received by Life Living Co., Ltd., a consolidated subsidiary which was sold in October) was 7,575 million yen (down 86.3% from the same period of the previous year), and orders received outstanding was 33,236 million yen (down 53.3% from the end of the same period of the previous year).
The number of offices was 29 (decreasing 21 from the end of the previous year).
Morizou Co.,Ltd., a subsidiary, provides luxury custom-built homes made of Japanese cypress.

Orders Received

Order results

Sales

Consolidated net sales were 328,721 million yen.

Consolidated net sales for the cumulative third quarter were 328,721 million yen (down 12.7% from the same period of the previous year). Net sales in the Leasing Business were 292,406 million yen (down 9.6% from the same period of the previous year) and 20,542 million yen in the Development Business (down 46.3% from the same period of the previous year).

Sales by segment

Sales by segment

Profits

Operating loss was 22,805 million yen (operating profit of 6,502 million yen in the same period of the previous year)

Gross profit was 22,527 million yen (down 62.9% from the same period of the previous year), operating loss was 22,805 million yen (operating profit of 6,502 million yen in the same period of the previous year), and recurring loss was 22,131 million yen (recurring profit of 6,246 million yen in the same period of the previous year). Net loss attributable to owners of parent was 24,137 million yen (an increase of 19,852 million yen from the same period of the previous year). This was due to extraordinary losses of 12,583 million yen recorded for losses related to repair works and provision of reserve for loss related to repair works for construction deficiencies and others.

In the Leasing Business, operating loss was 12,610 million yen (operating profit of 14,313 million in the same period of the previous year). In the Development Business, operating loss was 3,695 million yen (increased loss of 1,076 million yen from the same period of the previous year).

Profits

Profits

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FY March 2019



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    June 5, 2020
    Announcement of business results for FY ended March 31, 2020



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