Difficulty securing acquisitions and lower profitability due to fluctuations in real estate prices, interest rates and land prices
First written in FY2024. 3 of 5 entries say "Worsened", first in 2026-05-15. Latest entry: 2026-08-14.
Creal moved to the "Worse" side of this theme in 2026, 4 years after the typical company in this theme (2022).
The whole theme swung hardest in 2020: 30 of 70 companies on the "Worse" side.
26 other companies' latest entry also says "Worsened".
- 2026-08-14WorsenedEarnings
「The impact of the Iran War has spread to shortages and price increases for construction materials as a “naphtha shock,” and it is necessary to continue monitoring higher construction costs and delivery delays caused by rising raw material and labor costs.」
The company continued to warn of shortages and price increases for construction materials, higher construction costs and delivery delays stemming from the military conflict. - FY2026WorsenedAnnual report
「The impact of the war in Iran, which has spread as a "naphtha shock" to shortages and price increases for construction materials, higher construction costs and delivery delays resulting from rising raw material and labor costs, and changes in the Bank of Japan's monetary policy and domestic and international financial conditions will also need to be monitored.」
In addition to conventional risks from changes in real estate prices, interest rates and land prices, it specifies shortages and price increases for construction materials stemming from military conflict, as well as higher construction costs and delivery delays. - 2026-05-15WorsenedRevision of earnings forecasts
「一方で、イラン戦争の影響は「ナフサショック」として、建築資材の供給不足や価格上昇へと波及し、原材料費高騰や人件費上昇による建築コストの増加及び納期遅延、日銀の金融政策や国内外の金融情勢の変化が及ぼす影響について、今後も注視する必要があります。」
建築コスト増加と金融情勢の変化に加え、建築資材の供給不足・価格上昇と納期遅延が具体的に記載された。 - FY2025-H1Specifies factors driving higher construction costsAnnual report
「At the same time, it will be necessary to continue monitoring the impact of higher construction costs resulting from rising raw material and labor costs, as well as changes in the Bank of Japan's policy and domestic and international financial conditions.」
In relation to volatility risks in the real estate market, it continues to identify higher construction costs resulting from rising raw material and labor costs, as well as changes in the Bank of Japan's policy and domestic and international financial conditions, as matters requiring monitoring. - FY2024First statedAnnual report
「The real estate industry in which the Group operates is affected by real estate market trends, including economic conditions, interest rates and land-price fluctuations. Changes in these economic conditions may also affect the performance of each of the Group’s businesses. If real estate prices decline in the future, the company may incur valuation losses on inventories. If real estate prices rise sharply and purchase prices increase accordingly, it may become difficult to procure properties.」
The company identifies as risks inventory valuation losses caused by falling real estate prices, difficulty procuring properties caused by rising prices and declining profitability at the time of sale.