Risk from the enactment, amendment, repeal or changes in the application of laws and regulations relating to construction and real estate
First written in FY2016. 4 of 5 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 9 of 32 companies on the "Worse" side.
61 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The business activities of the Group are subject to legal regulation under the Construction Business Act, the Building Standards Act, the Real Estate Brokerage Act and other laws. Any revision or abolition of these laws, enactment of new laws or regulations, or changes in applicable standards could affect future operating results.」
The risks associated with the revision or abolition of construction- and real estate-related laws and regulations, the enactment of new ones, changes in applicable standards, and losses, business restrictions and reputational damage resulting from violations of laws and regulations are reiterated. - FY2023RestatedAnnual report
「The business activities of the Group are subject to legal regulation under the Construction Business Act, the Building Standards Act, the Real Estate Brokerage Act and other laws. Any revision or abolition of these laws, enactment of new laws or regulations, or changes in applicable standards could affect future operating results. In addition, if the Group engages in any conduct that violates laws or regulations, this could affect future operating results through losses arising from criminal and compulsory measures, business restrictions, reputational damage and other consequences.」
The risks associated with the revision or abolition of laws and regulations, the enactment of new ones, changes in their application, and losses, business restrictions and reputational damage resulting from violations of laws and regulations are reiterated. - FY2022RestatedAnnual report
「The business activities of the Group are subject to legal regulation under the Construction Business Act, the Building Standards Act, the Real Estate Brokerage Act and other laws. Any revision or abolition of these laws, enactment of new laws or regulations, or changes in applicable standards could affect future operating results. In addition, if the Group engages in any conduct that violates laws or regulations, this could affect future operating results through losses arising from criminal and compulsory measures, business restrictions, reputational damage and other consequences.」
In addition to the risks associated with the revision or abolition of laws and regulations, the enactment of new ones and changes in their application, the disclosure explicitly identifies losses, business restrictions and reputational damage resulting from violations of laws and regulations. - FY2021RestatedAnnual report
「The business activities of the Group are subject to legal regulation under the Construction Business Act, the Building Standards Act, the Real Estate Brokerage Act and other laws. Any revision or abolition of these laws, enactment of new laws or regulations, or changes in applicable standards could affect future operating results.」
The risks associated with the revision or abolition of construction- and real estate-related laws and regulations, the enactment of new ones, and changes in applicable standards are reiterated. - FY2016First statedAnnual report
「The business activities of the Group are subject to legal regulation under the Construction Business Act, the Building Standards Act, the Real Estate Brokerage Act and other laws. Any revision or abolition of these laws, enactment of new laws or regulations, or changes in applicable standards could affect future operating results.」
Changes to systems under the Construction Business Act, the Building Standards Act, the Real Estate Brokerage Act and other laws are identified as a risk.