[Merchant Bankers Co., Ltd.] Notice regarding the sale of real estate for sale *Merchant Bankers Co., Ltd.*
Press release: September 18, 2024
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Notice regarding sale of real estate for sale
Merchant Bankers Co., Ltd. (hereinafter referred to as Merchant Co., Ltd.) would like to report that at its board of directors meeting held today, it was resolved to sell real estate for sale as described below.
1. Outline and schedule of property to be sold
(1) Location: Katsushika-ku, Tokyo
(2) Type: Home/Warehouse
(3) Structure Steel-frame reinforced concrete construction, 7-story flat roof (4) Contract conclusion date September 17, 2024
(5) Settlement/delivery date: September 27, 2024 (planned)
2. Overview of seller and sale price
We will refrain from disclosing the details of the seller and the sale price due to the seller’s wishes based on the confidentiality obligation with the seller. There are no capital, personnel, or business relationships between Merchant and the seller, and there are no problems with their attributes.
3. Impact on performance, etc.
We will record sales and gain on sale of approximately 29 million yen (operating income) from the sale of the property in the fourth quarter of the fiscal year ending October 2024.
The impact of the sale of this property on business performance, etc. has been factored into the consolidated business forecast for the fiscal year ending October 2024, which was announced on December 14, 2023.
The property was acquired with the aim of holding it for a long period of time in order to secure stable rental income, and selling it if a sufficient profit can be expected from the sale. Until now, as there was no prospect of selling the property, it was listed as a tangible fixed asset on the consolidated balance sheet, but as it is expected that a sufficient profit can be secured from the sale, the purpose of holding the property will be changed in July 2024. As a result, the property, plant and equipment will be transferred from property, plant and equipment to real estate for sale, and the purchase and sale of such real estate will be accounted for as a business transaction.
4. Future policy
Merchant Co., Ltd. owns income-generating real estate over the long term as a source of a stable revenue base, and will continue to proactively generate profits from the sale of properties by replacing the properties it owns.
More than that
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