Fluctuations in economic conditions, interest rates, land prices and real estate demand
First written in FY2022. 8 of 12 entries say "Worsened", first in FY2023-Q2. Latest entry: FY2026.
Yamaichi Real Estate moved to the "Worse" side of this theme in 2022, 1 year before the typical company in this theme (2023).
The whole theme swung hardest in 2020: 30 of 70 companies on the "Worse" side.
27 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「During the current consolidated fiscal year, Japan’s economy entered a major transition as the “world with interest rates” became established following the Bank of Japan’s gradual implementation of interest-rate increases.」
The establishment of a “world with interest rates” following gradual rate hikes, higher funding costs and regional polarization of demand are identified as new concerns in the operating environment. - 2026-05-28WorsenedOther Disclosures
「Continuation of the rising interest-rate environment」
The company identifies the continuing rising interest-rate environment as a market condition and uses its impact on financing costs and housing loans as a premise for its measures. - FY2025WorsenedAnnual report
「In addition to a slowdown in the Chinese economy and heightened geopolitical risks, various economic policies introduced under the U.S. president reelected in November 2024 have created uncertainty in international financial markets, and uncertainty about the outlook for the global economy remains elevated.」
In addition to conventional economic, interest-rate and demand risks, the Group cites the Chinese slowdown, geopolitical risks and uncertainty in international financial markets caused by U.S. policies. - FY2025-H1RestatedAnnual report
「In addition, downturns in overseas economies such as those of Europe, the United States and China pose risks, and attention is required regarding volatility in financial and capital markets.」
The Group notes a complex economic environment in which yen depreciation, inflation and recovering inbound demand affect industries differently, while cautioning about overseas downturns and financial-market volatility. - FY2024-Q3WorsenedAnnual report
「However, in the housing industry, construction costs continue to rise due to higher material prices and labor costs, weighing on demand.」
The Group states that higher construction costs caused by rising material and labor costs are continuing to weigh on housing demand. - FY2024-Q2RestatedAnnual report
「At the same time, the outlook for overseas economies such as the United States and China is a concern because global monetary tightening continues, and attention is required regarding the impact of volatility in financial and capital markets.」
The continuation of global monetary tightening, the outlook for overseas economies and volatility in financial and capital markets are reaffirmed as concerns affecting economic and demand conditions. - FY2024-Q1WorsenedAnnual report
「Higher prices caused by expensive resources and labor shortages in Japan, as well as monetary tightening overseas, pose risks of an economic downturn, and uncertainty about the outlook continues.」
Higher resource costs, labor shortages and monetary tightening remain recognized downside factors. - FY2024-Q1WorsenedAnnual report
「However, higher prices caused by expensive resources and labor shortages in Japan, as well as monetary tightening overseas, pose risks of an economic downturn, and uncertainty about the outlook continues.」
While recognizing an economic recovery, the Group identifies domestic resource costs, inflation caused by labor shortages and overseas monetary tightening as downside factors. - FY2023WorsenedAnnual report
「Resource prices and inflation have risen amid global monetary tightening and the emergence of geopolitical risks, raising concerns about a future economic downturn.」
Concerns about a downturn caused by global monetary tightening, geopolitical risks, higher resource prices and inflation have intensified alongside conventional economic, interest-rate and demand risks. - FY2023-Q3RestatedAnnual report
「During the cumulative first nine months of the current fiscal year, Japan’s economy continued to recover moderately as society transitioned toward new economic activity with COVID-19. However, higher resource and raw material prices and rising living costs due to yen depreciation remained concerns as factors that could weigh on domestic consumption.」
The Group recognized an economic recovery while continuing to express concern that higher resource and raw material prices and yen depreciation could depress domestic consumption. - FY2023-Q2WorsenedAnnual report
「Cost-push inflation caused by the prolonged situation in Ukraine, higher resource and raw material prices, and yen depreciation is a concern as a potential factor behind weaker domestic consumption.」
The Group has specified concerns about inflation caused by the situation in Ukraine, higher resource and raw material prices, and yen depreciation, in addition to conventional economic and demand fluctuation risks. - FY2022First statedAnnual report
「A rapid deterioration in economic conditions, a downturn in personal consumption, a significant rise in interest rates, deterioration in real estate supply and demand, or changes to housing taxation could affect the Group’s operating results and financial condition.」
The Group anticipates effects through housing purchase intentions, rental demand and rents.