Front-Loaded Demand and a Cooling Housing Market Following a Consumption-Tax Increase
First written in FY2018. 2 of 4 entries say "Restated". Latest entry: FY2020.
The whole theme swung hardest in 2026: 4 of 7 companies on the "Worse" side.
25 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「The housing industry had also been recovering gradually from the downturn following the consumption tax increase, but after the government declared a state of emergency in April 2020, the outlook became uncertain.」
The company explained that the housing market weakened after the consumption tax increase, and that the subsequent recovery trend became uncertain due to the spread of COVID-19 and the declaration of a state of emergency. - FY2020-Q3MaterialisedAnnual report
「During the cumulative third quarter, Japan's economy faced growing uncertainty in domestic and overseas economic conditions as consumer sentiment stagnated following the October 2019 consumption tax increase, while restrictions and reductions in economic activity continued worldwide because of the spread of COVID-19.」
Regarding the previously anticipated impact of the consumption tax increase on the housing market and consumption, the company states that stagnation in consumer sentiment associated with the tax increase has in fact occurred. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, Japan's economy continued on a gradual recovery path. While attention was required regarding developments surrounding trade issues, uncertainty in overseas economies and consumer sentiment following the consumption tax increase, employment and income conditions continued to improve.」
The company identifies post-tax-increase consumer sentiment as a matter requiring attention. It also mentions weakness in the housing market, but does not state a direct causal relationship with the consumption tax increase. - FY2018First statedAnnual report
「Following the planned increase in the consumption tax rate to 10% in autumn 2019, the housing market as a whole is expected to weaken.」
The company identifies as a new external risk the possibility that the housing market as a whole will weaken after the consumption tax rate is raised to 10% in autumn 2019.