Segment Information

Net sales for the Leasing Business during FY2023 increased by 4.1% YoY to JPY 407,489 million due to elevated average unit rent and an improved occupancy rate. Operating profit was JPY 30,386 million, a growth of 79.9% YoY, due to the increased revenue and improved profitability resulting from the favorable cost structure.
In Elderly Care Business, due to efforts of various revenue boosting measures and continued cost control, net sales increased by 0.5% YoY to JPY 14,007 million and operating loss amounted to JPY 621 million, a reduction of loss by JPY 587 million YoY. The number of facilities at the end of FY2023 was 85.
Other Businesses segment, which includes the operation of Guam resort facilities, reported net sales of JPY 1,175 million, up 9.9% YoY, and operating loss of JPY 2,391 million, a reduction of loss by JPY 314 million YoY. The result was caused by the continued sluggish occupancy rate of Guam resort facilities amid the reduced number of visitors to Guam which did not reach the level prior to the COVID-19 pandemic, although the occupancy rate temporarily increased due to usage mainly by workers engaged in typhoon-damage reconstruction efforts.

Changes in Sales Composition

We switched to a recurring revenue model centered on the Leasing Business aiming for a stable earnings structure over the medium to long term after the global financial crisis. The sales ratio of the Leasing Business increased further as a result of suspending new contract orders for apartments after the revelation of the construction defects problem.

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  April 1-30, 2024

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  Leopalace21 is working to solve a wide variety of social issues with the aim of creating a sustainable society under the sustainability vision of "We go on creating new value for society today and in the future."

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