Economic Downturn and Reduced Willingness to Purchase Homes Due to COVID-19
First written in FY2020. 4 of 15 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 113 of 177 companies on the "Worse" side.
56 other companies' latest entry also says "Dropped".
- FY2025DroppedAnnual reportThis filing contains no specific description of an economic downturn caused by COVID-19 or a decline in willingness to purchase housing under the business environment and business risks.
- FY2024-Q3MitigatedAnnual report
「Although the impact of COVID-19 on economic activity can be said to have subsided, various changes, including in working styles and consumer preferences, have continued in the post-COVID context.」
The view was expressed that the impact of COVID-19 on economic activity had subsided, and its direct impact on the economy and willingness to purchase housing had eased from previous levels. Meanwhile, changes in working styles and consumer preferences have continued. - FY2024-Q1RestatedAnnual report
「During the three months ended the first quarter, Japan's economy showed signs of recovery as economic activity was revitalized in preparation for the post-COVID era, including a recovery in inbound demand and higher wage increases in the annual spring wage negotiations, following the reclassification of COVID-19 as a Category V infectious disease under Japan's infectious disease control law.」
The transition of COVID-19 to Category V, the revitalization of economic activity, and the recovery in inbound demand were described. The previous view that the impact of the infectious disease was easing was maintained. - FY2023Easing of restrictions on behavior and future mutation risks both citedAnnual report
「Although COVID-19, which began spreading in earnest in early 2020, was downgraded in May 2023 to Category V under Japan's infectious disease control law, equivalent to influenza, the Group's financial position, operating results and other matters could be affected if a new variant emerges or if the economy falls into recession due to an economic downturn or various other external factors.」
While noting that the impact had eased following the transition to Category V, the filing continued to identify new variants and the potential impact of an economic downturn as risks. - FY2023-Q3The easing of the pandemic’s impact coexisting with concerns about renewed spreadAnnual report
「Restrictions on behavior related to COVID-19 were eased and Japan resumed accepting foreign tourists, while domestic economic activity began to show signs of a gradual recovery. However, the outlook for the economy remained uncertain due to the renewed spread of COVID-19, surging raw material prices, and the rapid depreciation of the yen.」
The recovery in economic activity resulting from the easing of restrictions on behavior and the resumption of accepting foreign tourists was noted, while the renewed spread of COVID-19 was also cited as a factor contributing to economic uncertainty. - FY2023-Q2RestatedAnnual report
「During the six months ended the second quarter, Japan's economy continued to be affected by the prolonged impact of COVID-19, but social and economic activity showed signs of gradually returning to normal as restrictions on behavior and other measures were eased.」
The previous view was maintained that, although the impact of the infectious disease had been prolonged, social and economic activity would move toward normalization as restrictions on behavior were eased. - FY2023-Q1The easing of the pandemic’s impact coexisting with concerns about renewed spreadAnnual report
「Although strict restrictions, including requests to refrain from going out to prevent the spread of COVID-19, were eased and signs of a return to normality emerged, concerns remained about the impact of the renewed spread of new variants in Japan and the prolonged situation in Ukraine,」
While the easing of restrictions on going out and the normalization of economic activity were noted, concerns about the impact of the renewed spread of new variants were also mentioned. - FY2022-Q3RestatedAnnual report
「Although Japan's residential real estate market, in which the Group operates, has been negatively affected by COVID-19, demand for residential real estate is considered to have remained at a certain level. In addition to changes in lifestyles, many customers have become more conscious than ever of the meaning and importance of housing in their lives.」
The previous view was reiterated that, although the negative impact of COVID-19 had continued, demand for residential real estate had remained at a certain level due to changes in lifestyles and other factors. - FY2022-Q2RestatedAnnual report
「In Japan's residential real estate market, the Group's core business area, market conditions have remained firm as the Group captures housing demand linked to changes in lifestyles.」
Although the impact of COVID-19 has continued, the previous view that the housing market had remained firm by capturing housing demand arising from changes in lifestyles, and that the impact had eased, was maintained. - FY2022-Q1MitigatedAnnual report
「In the sumuzu business, the number of real estate brokerage contracts and sales of properties owned by the Company increased year on year as the impact of restrictions on outings by prospective buyers amid the spread of COVID-19 eased.」
The impact of restrictions on going out associated with COVID-19 eased, and the number of real estate brokerage agreements and sales of properties owned by the company exceeded the year-earlier period. - FY2021MitigatedAnnual report
「Although housing transactions temporarily declined following requests to refrain from going out during the state of emergency and other social concerns about going out, the short-term prime rate that influences mortgage rates has remained stable at a low level. In addition, new housing demand has emerged as people reassess their living environments due to the impact of COVID-19. As a result, market conditions in the residential real estate sector have recovered to some extent.」
Although housing transactions declined as people refrained from going out, market conditions recovered to some extent due to demand for purchases arising from the reassessment of living environments and other factors. - FY2021-Q3MaterialisedAnnual report
「The mood of refraining from going out during the first quarter accounting period affected the performance of the Group.」
The impact of restrictions on going out associated with COVID-19 continued to be described in the explanation of performance for the nine months ended the third quarter. Cumulative revenue fell 6.4% year on year, and operating profit fell 49.7%. - FY2021-Q2MaterialisedAnnual report
「The mood of refraining from going out during the first quarter accounting period affected the performance of the Group.」
The impact of the mood of refraining from going out in the first quarter was also explicitly described in the explanation of performance for the six months ended the second quarter. Revenue fell 32.3% year on year, and operating profit fell 78.3%. Although visitor numbers increased substantially in the second quarter, the impact remained over the cumulative period. - FY2021-Q1MaterialisedAnnual report
「In the sumuzu business, the number of real estate brokerage contracts and sales of properties owned by the Company declined from the same period of the previous year due to the effects of restrictions on going out by prospective buyers amid the spread of COVID-19. As a result, revenue for the first quarter was ¥758.804 million and the segment loss was ¥29.575 million.」
Restrictions on going out due to COVID-19 materially affected the behavior of prospective buyers, the number of brokerage agreements, and sales of properties owned by the company, resulting in a segment loss for the sumuzu business. - FY2020First statedAnnual report
「The economy is currently in recession due to the spread of COVID-19. If the economy were to fall into a recession due to a downturn caused by various external factors in the future, this could affect the Group's financial condition, operating results and other aspects of its business.」
The Company first explicitly identified an economic downturn caused by COVID-19 as a risk that could affect willingness to purchase residential real estate and business performance.