Changes in Mortgage Tax Relief, Long-Term Interest Rates and Consumption Tax Rates
First written in FY2016. 5 of 10 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2020: 6 of 17 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「In the housing-related industry, new housing starts in the interim consolidated accounting period declined 17.4% from the previous period due to elevated home construction prices, rising housing loan rates and the impact of the revision to the Building Standards Act in April 2025.」
The concerns over rising housing loan rates indicated in the previous period were stated together with elevated home construction prices and the impact of the revision to the Building Standards Act, alongside an actual decline in housing starts. - FY2025MitigatedAnnual report
「In the housing-related industry, we expect housing starts for owner-occupied and subdivision detached homes, our group's primary target markets, to remain flat due to elevated home construction prices, rising housing loan rates and other factors.」
The outlook for housing starts in the primary target markets was softened from the considerable decline indicated in the previous period to a forecast of flat performance. However, higher home construction prices and housing loan rates continue to be stated as demand factors. - FY2025-H1RestatedAnnual report
「In the housing-related industry, new housing starts in the interim consolidated accounting period declined 0.8% from the previous period due to higher home construction prices, concerns over rising housing loan rates and other factors.」
Concerns over rising housing loan rates continue to be stated as a factor affecting housing demand. - FY2024WorsenedAnnual report
「Due to concerns over rising housing loan rates following the lifting of the negative interest rate policy, we expect a considerable decline in housing starts for owner-occupied and subdivision detached homes, our group's primary target markets.」
Newly stated concerns over rising housing loan rates following the lifting of the negative interest rate policy are expected to affect housing demand. - FY2018RestatedAnnual report
「Around the time of a reduction or abolition of the mortgage tax relief system, or an increase in long-term interest rates or the consumption tax rate, there is a risk that sales may fluctuate substantially due to factors entirely different from normal changes in economic conditions, significantly affecting operating results.」
The risk of fluctuations in housing demand due to changes in tax policy and interest rates continues to be stated. - FY2017RestatedAnnual report
「Around the time of a reduction or abolition of the mortgage tax relief system, or an increase in long-term interest rates or the consumption tax rate, there is a risk that sales may fluctuate substantially due to factors entirely different from normal changes in economic conditions, significantly affecting operating results.」
The risk of fluctuations in housing demand due to changes in the housing loan tax credit, interest rates and the consumption tax rate continues to be stated. - FY2017-Q3RestatedAnnual report
「The postponement of the consumption tax increase scheduled for April 2017 was decided, eliminating the prospect of front-loaded demand ahead of the increase. However, new housing starts in the cumulative nine-month consolidated period remained firm, rising 6.6% year on year, supported by improvements in employment and income conditions as well as lower loan rates resulting from the Bank of Japan's negative interest rate policy.」
While the assumption that no front-loaded demand can be expected due to the postponement of the consumption tax increase continues, housing starts increased as a result of lower loan rates and other factors. - FY2017-Q2RestatedAnnual report
「The postponement of the consumption tax increase scheduled for April 2017 was decided, eliminating the expectation of front-loaded demand before the tax increase.」
The demand assumption that no front-loaded demand can be expected ahead of a consumption tax increase due to the postponement of the increase continues to be stated. - FY2017-Q1Change in demand assumptions due to postponement of the tax increaseAnnual report
「The postponement of the consumption tax increase scheduled for April 2017 was decided, eliminating the expectation of front-loaded demand before the tax increase.」
The change in assumptions that the postponement of the tax increase meant front-loaded demand before the scheduled tax increase could no longer be expected is disclosed in relation to the risk of demand fluctuations around changes in the consumption tax rate. - FY2016First statedAnnual report
「Around the time of a reduction or abolition of the mortgage tax relief system, or an increase in long-term interest rates or the consumption tax rate, there is a risk that sales may fluctuate substantially due to factors entirely different from normal changes in economic conditions, significantly affecting operating results.」
This indicates that housing-related demand may fluctuate substantially around changes in taxation and interest rates.