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First-corporation (1430) · RiskMitigated

Credit Risk Relating to Clients, Joint-Venture Construction Companies and Partner Companies

First written in FY2016. 11 of 16 entries say "Worsened", first in FY2021-Q3. Latest entry: FY2026.

16entries
11years
0from disclosures
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How it moved
ProgressHeldSoftenedWorseFirst statedFY2016WorsenedFY2021-Q3 – FY2023-Q3WorsenedFY2025-H1 – FY2026-H12016: 12017: 020172018: 020182019: 020192020: 020202021: 220212022: 320222023: 420232024: 320242025: 120252026: 22026
Same theme, other companies
Credit Concerns Regarding Counterparties in the Construction and Real Estate BusinessA theme 26 companies write about · 26 as a headwind · 0 as a tailwind

First-corporation moved to the "Worse" side of this theme in 2021, 2 years before the typical company in this theme (2023).

The whole theme swung hardest in 2021: 3 of 13 companies on the "Worse" side.

1 other company's latest entry also says "Mitigated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 26 companies compared. The sentences above are computed from all 26.
Full recordFilings, disclosures and news, newest first
  1. FY2026MitigatedAnnual report

    「株式会社アーネストワン ¥104.800 million — Total ¥104.800 million —」

    The guarantee amount for deposits and other amounts related to sales fell from ¥104.80 million in the previous consolidated fiscal year to zero, reducing the disclosed credit exposure.
  2. FY2026-H1WorsenedAnnual report

    「株式会社アーネストワン ¥104.800 million ¥158.710 million Total ¥104.800 million ¥158.710 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥104.80 million at the end of the previous consolidated fiscal year to ¥158.71 million. Although credit exposure has expanded, no credit concerns among customers have been disclosed.
  3. FY2025-H1WorsenedAnnual report

    「株式会社アーネストワン ¥26.230 million ¥62.750 million Total ¥26.230 million ¥62.750 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥26.23 million at the end of the previous consolidated fiscal year to ¥62.75 million. Although credit exposure has expanded, no credit concerns have been disclosed.
  4. FY2024MitigatedAnnual report

    「株式会社中央住宅 ¥76.550 million — 株式会社アーネストワン ¥3.700 million ¥26.230 million Total ¥80.250 million ¥26.230 million」

    The guarantee amount for deposits and other amounts related to condominium sales decreased from a total of ¥80.25 million in the previous consolidated fiscal year to ¥26.23 million.
  5. FY2024-Q3MitigatedAnnual report

    「株式会社中央住宅 ¥76.550 million — 株式会社アーネストワン ¥3.700 million — Total ¥80.250 million —」

    The joint guarantee amount for deposits received in connection with condominium sales fell from ¥80.25 million at the end of the previous consolidated fiscal year to zero, reducing credit exposure.
  6. FY2024-Q2WorsenedAnnual report

    「株式会社中央住宅 ¥76.550 million ¥139.398 million 株式会社アーネストワン ¥3.700 million — Total ¥80.250 million ¥139.398 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥80.25 million at the end of the previous consolidated fiscal year to ¥139.398 million. Although credit exposure has expanded, no credit concerns among customers have been disclosed.
  7. FY2024-Q1WorsenedAnnual report

    「株式会社中央住宅 ¥76.550 million ¥124.858 million 株式会社アーネストワン ¥3.700 million — Total ¥80.250 million ¥124.858 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥80.25 million at the end of the previous consolidated fiscal year to ¥124.858 million. Although credit exposure has expanded, no credit concerns among customers have been disclosed.
  8. FY2023MitigatedAnnual report

    「株式会社中央住宅 ¥76.550 million 株式会社アーネストワン ¥3.700 million Total ¥80.250 million」

    The total guarantee amount for deposits and other amounts related to sales was ¥80.25 million, down from ¥333.760 million in the previous disclosure. This indicates a quantitative reduction in credit exposure.
  9. FY2023-Q3WorsenedAnnual report

    「株式会社中央住宅 ¥57.360 million ¥179.260 million 株式会社アーネストワン — ¥154.500 million Total ¥57.360 million ¥333.760 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥57.360 million at the end of the previous fiscal year to ¥333.760 million, expanding the credit exposure.
  10. FY2023-Q2WorsenedAnnual report

    「株式会社中央住宅 ¥57.360 million ¥143.190 million 株式会社アーネストワン — ¥106.160 million Total ¥57.360 million ¥249.350 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥57.36 million at the end of the previous fiscal year to ¥249.35 million. Although credit exposure has expanded, there is no disclosure indicating that any customer has experienced credit concerns.
  11. FY2023-Q1WorsenedAnnual report

    「株式会社中央住宅 ¥57.360 million ¥115.070 million 株式会社アーネストワン — ¥57.550 million Total ¥57.360 million ¥172.620 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥57.360 million at the end of the previous fiscal year to ¥172.620 million, expanding the credit exposure.
  12. FY2022-Q3WorsenedAnnual report

    「大和地所レジデンス株式会社 ¥206.840 million ¥781.720 million Total ¥206.840 million ¥781.720 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥206.840 million at the end of the previous fiscal year to ¥781.720 million, expanding the credit exposure.
  13. FY2022-Q2WorsenedAnnual report

    「大和地所レジデンス株式会社 ¥206.840 million ¥691.680 million Total ¥206.840 million ¥691.680 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥206.840 million at the end of the previous fiscal year to ¥691.680 million.
  14. FY2022-Q1WorsenedAnnual report

    「大和地所レジデンス株式会社 ¥206.840 million ¥364.740 million Total ¥206.840 million ¥364.740 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥206.840 million at the end of the previous fiscal year to ¥364.740 million, and the credit exposure has been updated.
  15. FY2021-Q3WorsenedAnnual report

    「株式会社中央住宅 ¥58.840 million 株式会社アーネストワン ¥2.500 million Total ¥61.340 million」

    The joint guarantee amount for deposits received in connection with condominium sales increased from ¥25.040 million at the end of the previous fiscal year to ¥61.340 million, and the credit exposure associated with the guarantees has been updated.
  16. FY2016First statedAnnual report

    「If a client or joint-venture construction company experiences credit concerns before construction payments are received, or if a partner company falls into financial difficulty, the Company’s financial condition and operating results may be affected by uncollectible amounts or construction delays.」

    The Company recognizes that deterioration in the creditworthiness of counterparties or partner companies before collecting construction payments may result in uncollectible amounts or construction delays.
Moved together

"Longer Pre-Financing Periods and Changes in Funding Conditions" moved the same way as this thread, in the same document, in 8 of its 16 moves.

887443★123456
  1. ★This thread
  2. 1Longer Pre-Financing Periods and Changes in Funding Conditions8×
  3. 2Inventory and Real Estate Risk Associated with the Land-Sourced Contracting Model8×
  4. 3Risk of Demand Fluctuations in the Condominium Construction Market7×
  5. 4Risk of Rising Construction Material Prices and Labor Costs4×
  6. 5Securing Stable Funding and Optimizing Funding Costs4×
  7. 6Risk of Insufficient Construction Personnel and Partner Companies3×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for First-corporation yet.
News
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Credit Risk Relating to Clients, Joint-Venture Construction Companies and Partner Companies | First-corporation Inc. (1430) | Komori