Sales and Valuation Risks for Real Estate Inventories
First written in FY2017. 20 of 27 entries say "Worsened", first in FY2019-Q2. Latest entry: 2026-08-07.
Open House Group moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2026: 11 of 21 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- FY2025MaterialisedAnnual report
「The ending inventory balance is stated after a write-down of its carrying amount due to lower profitability, and the following inventory valuation loss is included in cost of sales.」
The inventory valuation loss was ¥8,550 million, up from ¥4,465 million in the previous year. Real estate held for sale and real estate under development for sale increased to a combined approximately ¥770,000 million. - FY2025-H1WorsenedAnnual report
「This was mainly attributable to a combined ¥39,130 million increase in real estate held for sale and real estate under development for sale, as well as a combined ¥41,318 million increase in cash and deposits, operating loans, and investments and other assets, among other factors.」
Real estate held for sale and real estate under development for sale, which are subject to sale and valuation, increased by ¥39,130 million from the end of the previous consolidated fiscal year, expanding inventory. - FY2024-Q2WorsenedAnnual report
「This was mainly attributable to a combined ¥111,149 million increase in real estate held for sale and real estate under development for sale, among other factors.」
Real estate held for sale and real estate under development for sale, which are subject to sale and valuation, increased by ¥111,149 million from the end of the previous consolidated fiscal year, expanding inventory. The current filing does not indicate that a new inventory valuation loss was recorded. - FY2023MaterialisedAnnual report
「The ending inventory balance is stated after a write-down of its carrying amount due to lower profitability, and the following inventory valuation loss is included in cost of sales.」
The inventory valuation loss was ¥6,457 million, up from ¥2,027 million in the previous year. Real estate held for sale and real estate under development for sale also increased to a combined ¥641,255 million. - FY2023-Q3WorsenedAnnual report
「This was mainly attributable to a combined ¥105,007 million increase in real estate held for sale and real estate under development for sale, among other factors.」
Real estate held for sale and real estate under development for sale, which are subject to sale and valuation, increased by ¥105,007 million from the end of the previous fiscal year, substantially expanding inventory. The current filing does not indicate that a new valuation loss was recorded. - FY2023-Q2WorsenedAnnual report
「This was mainly attributable to a combined ¥52,840 million increase in real estate held for sale and real estate under development for sale and a ¥13,713 million increase in operating loans, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥52,840 million from the end of the previous fiscal year, expanding the inventory subject to sale and valuation. The current filing does not indicate that a new valuation loss was recorded. - FY2023-Q1WorsenedAnnual report
「This was mainly attributable to a combined ¥23,181 million increase in real estate held for sale and real estate under development for sale and a ¥5,028 million increase in operating loans, while cash and deposits decreased by ¥41,890 million, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥23,181 million from the end of the previous fiscal year, expanding the inventory subject to sale and valuation. The current filing does not indicate that a new valuation loss was recorded. - FY2022-Q3WorsenedAnnual report
「Total assets at the end of the third quarter of the current consolidated fiscal year were ¥965,462 million, an increase of ¥85,549 million from the end of the previous consolidated fiscal year. This was mainly attributable to a combined ¥120,177 million increase in real estate held for sale and real estate under development for sale, despite a ¥27,929 million decrease in cash and deposits, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥120,177 million from the end of the previous fiscal year, substantially expanding the inventory subject to sale and valuation. The current filing does not indicate that a new valuation loss was recorded. - FY2022-Q2WorsenedAnnual report
「Total assets at the end of the second quarter of the current consolidated fiscal year were ¥954,723 million, an increase of ¥74,810 million from the end of the previous consolidated fiscal year. This was mainly attributable to a combined ¥47,982 million increase in real estate held for sale and real estate under development for sale, as well as a ¥37,979 million increase in cash and deposits, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥47,982 million from the end of the previous fiscal year, expanding the inventory subject to sale and valuation. - FY2022-Q1WorsenedAnnual report
「Total assets at the end of the first quarter of the current consolidated fiscal year were ¥885,694 million, an increase of ¥5,781 million from the end of the previous consolidated fiscal year. This was mainly attributable to a ¥8,856 million decrease in cash and deposits, while real estate held for sale and real estate under development for sale increased by a combined ¥13,748 million, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥13,748 million from the end of the previous fiscal year, expanding the inventory subject to sale and valuation. The current filing does not indicate that a new valuation loss was recorded. - FY2021MaterialisedAnnual report
「Ending inventory is stated at the amount after its carrying value has been written down due to lower profitability, and the following inventory valuation losses are included in cost of sales.」
The inventory valuation loss was ¥6,440 million, up from ¥1,532 million in the previous year. The sale and valuation risks continue to be reflected in results. - FY2021-Q3WorsenedAnnual report
「Total assets as of the end of the third quarter of the fiscal year were ¥828,425 million, an increase of ¥259,387 million from the end of the previous fiscal year. This mainly reflected increases of ¥180,030 million in real estate for sale and real estate under development for sale combined and ¥85,526 million in cash and deposits, including the increase resulting from Pressance becoming a consolidated subsidiary from the second quarter.」
Including the consolidation of Pressance Corporation, real estate held for sale and real estate under development for sale, which are subject to sale and valuation, increased by ¥180,030 million from the end of the previous fiscal year, substantially expanding inventory. - FY2021-Q2WorsenedAnnual report
「Total assets as of the end of the second quarter of the fiscal year were ¥829,680 million, an increase of ¥260,641 million from the end of the previous fiscal year. This mainly reflected an increase of ¥174,083 million in real estate for sale and real estate under development for sale combined, including the increase resulting from Pressance becoming a consolidated subsidiary from the second quarter, as well as a ¥95,526 million increase in cash and deposits.」
Including the consolidation of Pressance Corporation, real estate held for sale and real estate under development for sale, which are subject to sale and valuation, increased by ¥174,083 million from the end of the previous fiscal year, substantially expanding inventory. - FY2021-Q1WorsenedAnnual report
「This was mainly attributable to a ¥6,882 million decrease in cash and deposits, while investments and other assets increased by ¥6,005 million, operating loans increased by ¥3,210 million, and real estate held for sale and real estate under development for sale increased by a combined ¥2,362 million, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥2,362 million from the end of the previous fiscal year, expanding the inventory subject to sale and valuation. - FY2020MaterialisedAnnual report
「Ending inventory is stated at the amount after its carrying value has been written down due to lower profitability, and the following inventory valuation losses are included in cost of sales.」
The inventory valuation loss for the fiscal year ended September 2020 was ¥1,532 million, up from ¥906 million in the previous year. The sale and valuation risks continue to be reflected in results. - FY2020-Q3WorsenedAnnual report
「The status as of the end of September 2019 of real estate under development for sale is as follows.」
Real estate under development for sale increased from ¥179,596 million to ¥204,102 million, expanding the inventory subject to sale and valuation by ¥24,506 million. The current disclosure does not indicate that a new valuation loss was recorded. - FY2020-Q2MaterialisedAnnual report
「As a result, because the realizable amount of some inventory in the income-producing real estate business fell below its carrying amount, the Company conservatively recognized a valuation loss of ¥1,887 million in cost of sales.」
Due to the deterioration of market conditions associated with the COVID-19 pandemic and other factors, the realizable amount of inventory in the income-producing real estate business fell below its carrying amount, and an actual valuation loss of ¥1,887 million was recorded. - FY2020-Q1WorsenedAnnual report
「This was mainly attributable to a ¥4,280 million increase in cash and deposits, a combined ¥4,040 million increase in real estate held for sale and real estate under development for sale, and a ¥3,464 million increase in operating loans, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥4,040 million from the end of the previous fiscal year, expanding the inventory subject to sale and valuation. The current filing does not indicate that a new valuation loss was incurred. - FY2019WorsenedAnnual report
「The status as of the end of September 2019 of real estate under development for sale, the principal inventory asset, is as follows.」
Real estate under development for sale amounted to ¥179,596 million, and inventory subject to sale and valuation remained substantial. The inventory valuation loss was ¥906 million, up from ¥816 million in the previous year. - FY2019-Q3WorsenedAnnual report
「This was mainly attributable to a ¥13,600 million decrease in cash and deposits, while real estate held for sale and real estate under development for sale increased by a combined ¥31,789 million and operating loans increased by ¥8,717 million, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥31,789 million from the end of the previous fiscal year, expanding the inventory subject to sale and valuation. The current disclosure does not indicate that a new valuation loss was incurred. - FY2019-Q2WorsenedAnnual report
「This was mainly attributable to a combined ¥20,338 million increase in real estate held for sale and real estate under development for sale, among other factors.」
Real estate held for sale and real estate under development for sale increased by ¥20,338 million from the end of the previous fiscal year. Although the current disclosure does not indicate that a new valuation loss was incurred, the inventory subject to sale and valuation has increased. - FY2018MaterialisedAnnual report
「Ending inventory is stated at the amount after its carrying value has been written down due to lower profitability, and the following inventory valuation losses are included in cost of sales.」
Real estate under development for sale increased to ¥186,033 million at the end of September 2018, and an inventory valuation loss of ¥816 million was recorded. An actual valuation loss has arisen in relation to the sale and valuation risks. - FY2017First statedAnnual report
「When sales at the expected prices are difficult, the Group may promote sales by discounting selling prices to reduce inventory risk.」
The Company disclosed the risks of discounts, lower profits and valuation losses if inventory, including ¥125,351 million of real estate under development for sale, cannot be sold at the expected prices.