Risk of Real Estate Market Fluctuations Due to Economic Conditions, Interest Rates and Excess Supply
First written in FY2018. 17 of 20 entries say "Restated". Latest entry: 2026-04-10.
STrust 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".
- 2026-04-10WorsenedFinancial Results Presentation
「Current market conditions encompass external factors that are putting pressure on profitability, including higher construction costs, longer construction periods and higher borrowing rates.」
Factors affecting the real estate business environment relating to construction costs, construction periods and borrowing rates were identified simultaneously. - FY2025RestatedAnnual report
「The real estate industry in which the Group operates is susceptible to economic trends, interest-rate trends, real estate market conditions, new property supply, real estate selling prices and real estate tax policies. Changes in these conditions, including a deterioration in the economic outlook, a sharp rise in interest rates or falling selling prices caused by excess supply, could affect the Group's business results and other operations.」
The company continues to identify risks to real estate market conditions arising from changes in economic conditions, interest rates, supply, selling prices, real estate taxation, and other factors. - FY2025-H1RestatedAnnual report
「Conversely, regarding the rise in construction costs accompanying higher prices, shortages of construction workers and future trends in housing loan interest rates, the situation remains uncertain.」
The company continues to identify construction costs, shortages of construction workers, and mortgage interest rate levels as concerns in the real estate business environment. - FY2025-Q1RestatedAnnual report
「Conversely, regarding the rise in construction costs accompanying higher prices, shortages of construction workers and future trends in housing loan interest rates, the situation remains uncertain.」
The company continues to identify construction costs, shortages of construction workers, and mortgage interest rate levels as concerns in the real estate business environment. - FY2024-Q1RestatedAnnual report
「However, regarding the rise in construction costs, shortages of construction workers and future trends in housing loan interest rates, the situation remains uncertain.」
The company continues to report uncertainty in real estate market conditions, including concern over trends in mortgage interest rate levels. - FY2023Explicit concern over mortgage interest rate trendsAnnual report
「Moreover, given concerns about trends in housing loan interest rates and other factors, the business environment ahead cannot be viewed optimistically.」
In addition to the general market risks previously identified, including economic conditions, interest rates, and excess supply, concern over mortgage interest rate levels was explicitly identified as a factor warranting caution in the business environment. - FY2022-Q3RestatedAnnual report
「During the first nine months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2022-Q2RestatedAnnual report
「During the first six months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2022-Q1RestatedAnnual report
「During the first quarter of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2021-Q3RestatedAnnual report
「During the first nine months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2021-Q2RestatedAnnual report
「During the first six months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2021-Q1RestatedAnnual report
「During the first quarter of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2020RestatedAnnual report
「The real estate industry in which the Group operates is susceptible to economic trends, interest-rate trends, real estate market conditions, new property supply, real estate selling prices and real estate tax policies. Changes in these conditions, including a deterioration in the economic outlook, a sharp rise in interest rates or falling selling prices caused by excess supply, could affect the Group's business results and other operations.」
The company continues to report business-environment risks affecting performance arising from changes in economic conditions, interest rates, supply, selling prices, real estate taxation, and other factors. - FY2020-Q3RestatedAnnual report
「During the first nine months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2020-Q2RestatedAnnual report
「During the first six months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2020-Q1RestatedAnnual report
「During the first quarter of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2019-Q3RestatedAnnual report
「During the first nine months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2019-Q2RestatedAnnual report
「During the first six months of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2019-Q1RestatedAnnual report
「During the first quarter of the fiscal year, there were no occurrences of matters relating to the business or financial condition described in this quarterly report that could have a material effect on investors' decisions, nor any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of fluctuations in real estate market conditions arising from economic conditions, interest rates, excess supply, and other factors. - FY2018First statedAnnual report
「The real estate industry in which the Group operates is susceptible to economic trends, interest-rate trends, real estate market conditions, new property supply, real estate selling prices and real estate tax policies. Changes in these conditions, including a deterioration in the economic outlook, a sharp rise in interest rates or falling selling prices caused by excess supply, could affect the Group's business results and other operations.」
The company presents changes in economic conditions, interest rates, supply, selling prices and real estate tax policy as a standalone risk affecting business results.