Risk of a contraction in the residential mortgage market due to changes in monetary policy and tax policy

「As the shift to a full-fledged phase of rising interest rates progressed, financial institutions continued to prioritize deposit acquisition and restrain online advertising and promotional expenses related to mortgages. As a result, revenue from the Mog Check business was ¥1,251.858 million, down 36.8% year on year.」

「Long-term market expansion is expected to be supported by the Bank of Japan's continued low-interest-rate policy and the Japanese government's continued tax cuts. However, if market growth slows or the market contracts as a result of a major shift in the Bank of Japan's monetary policy, tax reforms or changes in government policy, or if growth falls below the Group's projections, the decline in applications for mortgage assessments and the decline in the number of investment property brokerage transactions could affect the Group's operating results and financial position.」

「If market growth slows or the market contracts as a result of a major shift in the Bank of Japan's monetary policy, tax reforms or changes in government policy, or if growth falls below the Group's projections, the decline in applications for mortgage assessments and the decline in the number of investment property brokerage transactions could affect the Group's operating results and financial position.」