Risk of a Decline in Real Estate Market Conditions and Accumulation of Development and Sales Inventory
First written in FY2016. 21 of 27 entries say "Restated". Latest entry: 2026-06-11.
The whole theme swung hardest in 2026: 11 of 21 companies on the "Worse" side.
7 other companies' latest entry also says "Mitigated".
- 2026-06-11MitigatedEarnings
「In central Tokyo, the Group's primary business area, residential rents have continued to trend upward against a backdrop of net population inflows, and demand has remained firm.」
Indicates that residential demand in central Tokyo remains firm, continuing to identify this as a mitigating factor against the risk of a market downturn and slower sales. - FY2025MitigatedAnnual report
「Because the properties developed and held are rental properties that generate rental income, we expect the impact to be limited even when prices are falling or liquidity is declining.」
While continuing to identify the risk of declining real estate market conditions, the company states that the impact is expected to be limited because the properties are rental properties that generate rental income. - FY2024-Q2RestatedAnnual report
「The real estate industry in which our group operates continues to perform solidly, as indicated by lower vacancy rates in central Tokyo office buildings and net population inflows into Tokyo's 23 wards, despite growing concerns over soaring real estate prices, higher construction costs due to supply constraints for construction materials and rising interest rates.」
The company continues to highlight concerns about soaring real estate prices, supply constraints for construction materials, higher construction costs and rising interest rates. It also notes the strength of central Tokyo office market conditions and population trends in Tokyo's 23 wards. - FY2024-Q1WorsenedAnnual report
「Concerns about soaring real estate prices, higher construction costs resulting from supply constraints for construction materials, and rising interest rates are becoming more pronounced.」
The company states that concerns about real estate prices, supply constraints for construction materials and construction costs, and rising interest rates are becoming more pronounced, specifying development and sales risks arising from market fluctuations. quantified: false, materialized: false. - FY2023RestatedAnnual report
「We regularly monitor economic trends and real estate market conditions and work to reduce risks by developing market insight suited to each area's characteristics, scale and property profile, and by strengthening our investment decision-making capabilities.」
The company continues to disclose the risk of declining real estate market conditions and inventory accumulation, and identifies monitoring of economic and market conditions, stronger investment decision-making capabilities and long-term financing as countermeasures. - FY2023-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions, inventory accumulation, and difficulty supplying properties due to land price fluctuations and intensified competition. - FY2023-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including a decline in real estate market conditions, a buildup of development and sales inventory, and difficulty supplying properties due to land price fluctuations and intensified competition. quantified: false, materialized: false. - FY2023-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions, a buildup of development and sales inventory, and difficulty supplying properties due to land price fluctuations and intensified competition. - FY2022RestatedAnnual report
「The Group establishes its own real estate appraisal standards and values its properties held at each fiscal year-end.」
The company continues to disclose risks including falling real estate prices, reduced liquidity and inventory accumulation, and identifies measures such as valuing properties held at each fiscal year-end and monitoring market conditions. - FY2022-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including a decline in real estate market conditions, a buildup of development and sales inventory, and difficulty supplying properties due to land price fluctuations and intensified competition. - FY2022-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions, inventory accumulation, and difficulty supplying properties due to land price fluctuations and intensified competition. quantified: false, materialized: false. - FY2021-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including a decline in real estate market conditions, a buildup of development and sales inventory, and difficulty supplying properties due to land price fluctuations and intensified competition. - FY2021-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including a decline in real estate market conditions, a buildup of development and sales inventory, and difficulty supplying properties due to land price fluctuations and intensified competition. - FY2020MitigatedAnnual report
「We regularly monitor economic trends and real estate market conditions and work to reduce risks by developing market insight suited to each area's characteristics, scale and property profile, and by strengthening our investment decision-making capabilities. We also work to reduce risks through long-term financing.」
The company explicitly identifies regular monitoring, stronger investment decision-making capabilities and long-term financing as measures to reduce market and inventory risks. - FY2020-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including a decline in real estate market conditions, a buildup of development and sales inventory, and difficulty supplying properties due to land price fluctuations and intensified competition. - FY2020-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including a decline in real estate market conditions, a buildup of development and sales inventory, and difficulty supplying properties due to land price fluctuations and intensified competition. - FY2019WorsenedAnnual report
「With regard to property acquisitions, if sharp fluctuations in land prices continue or intensified competition makes it difficult to obtain useful information, the company may be unable to supply internally developed properties as planned, potentially affecting the Group's business performance.」
In addition to the existing risks of declining market conditions and inventory accumulation, the company explicitly identifies the risk that fluctuations in land prices and intensified competition could make it difficult to supply development properties. - FY2019-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2019-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2019-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2018RestatedAnnual report
「If sudden market fluctuations, changes in building procurement costs, unexpected interest rate increases or a contraction in credit in the financial markets occur, the company may be unable to make sales as originally planned. In that case, the properties may remain in inventory, potentially affecting the company's business performance and cash flow.」
The company continues to disclose the risk of stalled sales and inventory accumulation resulting from fluctuations in real estate market conditions, procurement costs, interest rates and the financial markets. - FY2018-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2018-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2018-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2017-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2017-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new or material changes to existing business and other risks, including a decline in real estate market conditions and a buildup of development and sales inventory. - FY2016First statedAnnual report
「When real estate prices are falling, reduced purchasing can accelerate the decline, potentially causing a significant deterioration in real estate liquidity, valuation losses on inventories and impairment losses on fixed assets, affecting business performance. If sudden market fluctuations, changes in building procurement costs, unexpected interest-rate increases or a contraction in credit markets occur, we may be unable to sell properties as initially planned.」
The company identifies declining real estate prices, market conditions, building procurement costs, interest rates and financial-market fluctuations as risks that could lead to lower liquidity, valuation losses, impairment and inventory accumulation.