Business / Corporate Sep 28, 2020

Leopalace21's excess debts total ¥11.8 billion

Struggling apartment rental firm Leopalace21 Corp. said Monday its debts exceeded assets by ¥11.8 billion as of the end of June. The negative net worth reflected stagnant apartment occupancy rates apparently stemming from Leopalace21's shoddy construction scandal, which came to light in 2018. The company ...

Scandal-hit Leopalace21 faces ¥10 billion in excess debt

Business / Corporate Sep 26, 2020

Scandal-hit Leopalace21 faces ¥10 billion in excess debt

Struggling apartment rental firm Leopalace21 Corp. saw its debts exceed assets by about ¥10 billion at the end of June, it was learned Saturday. The negative net worth is due to falling occupancy rates for its apartments, reflecting a scandal over shoddy construction that came ...

Leopalace21 braces for ¥27.3 billion net loss for fiscal 2019

Business / Corporate Nov 8, 2019

Leopalace21 braces for ¥27.3 billion net loss for fiscal 2019

Rental apartment operator Leopalace21 Corp. posted net losses of ¥24.4 billion ($223 million) for the April-September period on Friday, with sales falling 13.3 percent to ¥221.5 billion from the same period last year. The firm, hit by scandals involving 30,000 defective buildings earlier this year, ...

Business / Corporate Dec 28, 2017

Japan's Leopalace21 opens serviced apartments in Cambodia

Property firm Leopalace21 Corp. has opened a serviced apartment complex in Cambodia to cater to growing demand from foreign business executives and short-term travelers in one of Southeast Asia's fastest-growing economies. Leopalace21 says its 14-story Granferte Phnom Penh, located in the capital's upscale Tuol Kouk ...