Solid demand for maintenance renovations driven by broader telework adoption and increased time spent at home
First written in FY2021-Q1. 5 of 9 entries say "Restated". Latest entry: FY2024-Q3.
1 other company's latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「Consumer interest in renovations is expected to increase as mobility and moving house increase following the post-COVID reopening and preferential tax reforms concerning housing loans and renovations are enacted. However, material prices remain elevated due to higher timber and transportation costs, while concerns remain that the yen's depreciation and rising prices may reduce real wages and weaken consumer sentiment, and uncertainty continues to persist.」
The coexistence of expectations for demand from increased mobility, moving house and preferential tax reforms and concerns over weaker consumer sentiment due to elevated material prices and lower real wages has been reconfirmed. - FY2024-Q2Coexistence of expectations for demand from tax reform and concerns over consumer sentimentAnnual report
「In the renovation industry in which the Group operates, consumer interest in renovations is expected to increase due to increased mobility and moving house following the post-COVID reopening, as well as enacted tax reforms providing preferential treatment for housing loans and renovations. However, concerns remain that increased opportunities for consumption involving going out, such as travel and dining out, and lower real wages due to rising prices may weigh on consumer sentiment, and uncertainty continues to persist.」
Expectations for renovation demand from increased mobility, moving house and preferential tax reforms are presented alongside concerns that increased spending on travel and dining out and lower real wages may weaken consumer sentiment. - FY2024-Q1ReframedAnnual report
「In the renovation and real estate-related markets in which the Group operates, the post-COVID increase in mobility is expected to increase real estate demand and renovation work associated with moving house. At the same time, increased opportunities for consumption involving going out, such as travel and dining out, are expected to reduce real estate-related spending and spending on and demand for renovations, and uncertainty is expected to persist.」
The post-COVID view of demand has broadened from one centered on renovation demand to one that sees both increased demand, including real estate demand, and decreased demand due to increased spending on travel and dining out. - FY2023ReframedAnnual report
「As people become more mobile in the post-COVID period, an increase in renovation work associated with moving house is expected. At the same time, increased opportunities for consumption involving going out, such as travel and dining out, are expected to reduce spending on and demand for renovations, and uncertainty is expected to persist.」
The view of demand has shifted from one centered on demand driven by telework and increased time spent at home to one that cites both an increase in demand from greater mobility in the post-COVID period and a decrease in demand from increased spending on travel and dining out. - FY2022-Q1RestatedAnnual report
「Maintenance renovations, including the replacement and repair of residential equipment, remained steady.」
The strength of demand for maintenance renovations, centered on the replacement and repair of residential equipment, has been reconfirmed. - FY2021RestatedAnnual report
「New renovation demand is growing as people adopt new lifestyles and more diverse ways of working, including telework.」
New renovation demand driven by new lifestyles and more diverse ways of working, including telework, continues to be indicated. - FY2021-Q3RestatedAnnual report
「In the renovation industry in which the Company operates, demand for renovations supporting new lifestyles, driven by the spread of telework, remote offices and other factors, and demand for renovations associated with relocation, driven by increased interest in moving to suburban areas, remained steady.」
It is stated that renovation demand remained steady against a backdrop of the spread of telework and remote offices and increased interest in moving to suburban areas. - FY2021-Q2RestatedAnnual report
「In the renovation industry in which the Company operates, while nonessential and nonurgent renovations were not undertaken, demand for renovations adapted to new lifestyles remained steady due to the spread of telework and other factors. Demand for maintenance renovations, including repairs and replacement of residential equipment, also remained steady as increased time spent at home heightened interest in housing.」
It has been reconfirmed that demand for renovations supporting new lifestyles and for maintenance renovations, driven by telework and increased time spent at home, remained steady while nonessential and nonurgent renovations were curtailed. - FY2021-Q1First statedAnnual report
「While nonessential and nonurgent renovation work was not undertaken, demand for maintenance renovations, including repairs and replacement of residential equipment, remained steady as the spread of telework and other factors increased the amount of time people spent at home and heightened interest in their homes.」
The business environment is described for the first time as one in which demand for maintenance renovations, including repairs and replacement of residential equipment, remained steady against a backdrop of the spread of telework and increased time spent at home, while nonessential and nonurgent renovations were curtailed during the infectious disease outbreak.