FY 2024 "Listed Companies Real Estate Sales" Survey - 85 Listed Companies Sold Real Estate in FY 2024: Large Transactions Increased, Total Land Area Approximately 1.6 Times Larger - TSR Data Insight

Overview

A report on the "FY 2024 Listed Companies Real Estate Sales Survey" published by Tokyo Shoko Research. This analysis examines real estate sales trends among companies listed on the Tokyo Stock Exchange, revealing that while the number of selling companies decreased, the sales area significantly expanded due to increased large transactions. ## Key Points ### 1. Survey Overview and Overall Trends - **Survey Target**: 3,826 companies listed on TSE Prime, Standard, and Growth markets (as of end of March 2025) - **Survey Period**: FY 2024 (April 2024 - March 2025), including disclosures up to May 31, 2025 - **Number of Selling Companies**: 85 companies (97 companies in previous year), decrease of 12 companies, below 100 companies for second consecutive year - **Total Sales Area**: 1,570,494 square meters (996,760 square meters in previous year), approximately 1.6 times expansion ### 2. Breakdown by Market Category - **Prime Market**: 32 companies (50 companies in previous year) - **Standard Market**: 50 companies (45 companies in previous year) - Highest number - **Growth Market**: 3 companies (2 companies in previous year) - **Feature**: Notable sales activity by Standard Market companies ### 3. Transfer Profit/Loss Status - **Companies Disclosing Transfer Profit/Loss**: 81 companies, total 291.855 billion yen - **Companies Recording Transfer Gains**: 76 companies (93.8% of total), total 299.244 billion yen - **Companies Recording Transfer Losses**: 5 companies, total loss -7.389 billion yen (previous year -475 million yen) - **Top 3 Transfer Gains**: 1. Sharp: 86.139 billion yen (partial sale of Sakai factory) 2. Hino Motors: 34 billion yen 3. Yamato Holdings: 24.2 billion yen - **Transfer Gains Over 10 billion yen**: 5 companies (13 companies in previous year) ### 4. Sold Land Area Details - **Companies Disclosing Area**: 70 companies - **Sales Over 10,000 m²**: 24 companies (18 companies in previous year) - **Sales Over 100,000 m²**: 3 companies (1 company in previous year) - **Average Sales Area**: 22,435 m² (11,726 m² in previous year) - **Top 3 by Area**: 1. Sharp: 450,000 m² (sold Sakai factory to SoftBank for AI data center site, etc.) 2. Chugoku Electric Power: 326,000 m² 3. Hino Motors: 155,000 m² ### 5. Transfer Price Status - **Companies Disclosing Transfer Price**: 17 companies (8 companies in previous year) - **Total Transfer Price**: 178.557 billion yen (3.089 billion yen in previous year) - **Top 3 by Price**: 1. Sharp: 125 billion yen 2. Arclands: 20.5 billion yen 3. Daiichikosho: 8.5 billion yen ### 6. Industry Trends - **Retail Industry**: 10 companies (highest, same as previous year) - 5 companies in final deficit - **Service Industry**: 9 companies (5 companies in previous year) - all companies profitable - **Wholesale Industry**: 6 companies (halved from 13 companies in previous year) - **Reasons for Sales**: Effective utilization of management resources, strengthening financial foundation ### 7. Background and Future Outlook - **Land Price Trends**: FY 2025 Official Land Price Survey shows 4 consecutive years of increase for all uses, with expanding rate of increase - **COVID-19 Impact**: Sales for securing cash on hand and remote work adaptation have stabilized - **Future Outlook**: - Movement to accelerate capital investment against backdrop of rising interest rates - Real estate sales may increase while repeating advances and retreats - Continuation of large-scale sales projects centered on major companies This survey reveals that listed companies' real estate strategies are shifting from quantity to quality, with particular increases in large-scale strategic sales. It demonstrates the advancement of effective real estate utilization aimed at corporate business restructuring, financial improvement, and securing funds for new growth investments.