Fluctuations in Profitability and Asset Values Due to Economic Conditions, Corporate Performance and Personal Consumption
First written in FY2016. 9 of 22 entries say "Worsened", first in FY2022-Q3. Latest entry: FY2026.
Tokyu Fudosan Holdings 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: 31 of 75 companies on the "Worse" side.
28 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Leased offices have performed well, particularly in the Shibuya area, where the company owns numerous properties, and the vacancy rate for leased offices and commercial facilities remained low at 0.7% at the end of the period.」
The vacancy rate rose from 0.3% at the end of the previous period to 0.7%. The company explains, however, that it remains low. - 2026-05-11WorsenedResults
「Leased offices have performed well, particularly in the Shibuya area, where the company owns numerous properties, and the vacancy rate for leased offices and commercial facilities remained low at 0.7% at the end of the period.」
空室率は前期末の0.3％から0.7％へ上昇した。一方、会社は引き続き低水準を維持していると説明している。 - FY2026-H1WorsenedAnnual report
「The leased office business continued to perform well, centered on the Shibuya area, where the company owns a large number of properties. The vacancy rate for office buildings and commercial facilities at the end of the interim period remained low at 0.6%.」
The vacancy rate rose from 0.3% at the end of the previous period to 0.6%. The company explains, however, that it remains low. - FY2025MitigatedAnnual report
「The leased office business continued to perform well, centered on the Shibuya area, where the company owns a large number of properties. The vacancy rate for office and commercial facilities at the end of the fiscal year remained low at 0.3%.」
The company explains that, amid continuing concerns over weaker office demand, the vacancy rate declined from 4.8% at the end of the previous period to 0.3%. - FY2025-H1MitigatedAnnual report
「The leased office business continued to perform steadily, centered on the Shibuya area, where the company owns a large number of properties. The vacancy rate for office buildings and commercial facilities at the end of the interim period remained low at 1.8%, or 1.1% excluding Shibuya Sakura Stage, which was completed in November 2023.」
Including the contribution from Shibuya Sakura Stage, the overall vacancy rate declined from 4.8% at the end of the previous period to 1.8%. Excluding that property, the vacancy rate was 1.1%, which the company explains remains low. - FY2024WorsenedAnnual report
「At the end of the fiscal year ended March 2024, the vacancy rate for office buildings and commercial facilities had temporarily risen to a high level of 4.8%. However, it is expected to decline as tenants gradually move into Shibuya Sakura Stage, which was newly completed in November 2023. Excluding Shibuya Sakura Stage, the vacancy rate for office buildings and commercial facilities remains low at 1.1%.」
As tenants continue to move into Shibuya Sakura Stage, the overall vacancy rate rose to 4.8%, while the company explains that the vacancy rate excluding that property was 1.1%. - FY2024-Q3WorsenedAnnual report
「At the end of the third quarter, the vacancy rate for offices and commercial facilities had temporarily risen to 5.7%, due to tenants gradually moving into Shibuya Sakura Stage (Shibuya-ku, Tokyo), which was newly completed in November 2023. Excluding Shibuya Sakura Stage, the vacancy rate for office buildings and commercial facilities remains low at 1.2%.」
Due to the completion of Shibuya Sakura Stage and the ongoing move-in process, the overall vacancy rate temporarily rose from 1.1% in the previous quarter to 5.7%. The company explains that the vacancy rate excluding that property was 1.2%. - FY2024-Q2MitigatedAnnual report
「Although the office market had faced concerns over weaker demand for office buildings due to the diversification of work styles, including teleworking, it has remained firm, particularly in the Shibuya area, where the company owns numerous properties. The vacancy rate for office buildings and commercial facilities remains low at 1.1%.」
Concerns over weaker office demand continue, but the vacancy rate declined from 1.2% at the end of the previous quarter to 1.1%, and the company explains that it remains low. - FY2024-Q1WorsenedAnnual report
「Although the office market had faced concerns over weaker demand for office buildings due to the diversification of work styles, including teleworking, it has remained firm, particularly in the Shibuya area, where the company owns numerous properties. The vacancy rate for office buildings and commercial facilities remains low at 1.2%.」
The company continues to disclose concerns over weaker office demand. The vacancy rate rose from 1.1% at the end of the previous period to 1.2%, but the company explains that it remains low. - FY2023-Q3WorsenedAnnual report
「Kudan Kaikan Terrace, completed in July 2022, has already reached a 100% contracted occupancy rate, but the vacancy rate for office buildings and commercial facilities temporarily rose to 2.8% due to tenants not yet having moved in. Excluding Kudan Kaikan Terrace, the vacancy rate for office buildings and commercial facilities remains low at 1.1%.」
Following the completion of Kudan Kaikan Terrace, the vacancy rate temporarily rose from 2.7% in the previous quarter to 2.8%. The company explains that the vacancy rate excluding that property was 1.1%. - FY2023-Q2WorsenedAnnual report
「The vacancy rate for office buildings and commercial facilities temporarily rose to 2.7% due to the impact of Kudan Kaikan Terrace (Chiyoda-ku, Tokyo), newly completed in July 2022, but leasing at the property is progressing smoothly. Excluding Kudan Kaikan Terrace, the vacancy rate for office buildings and commercial facilities remained low at 0.9%.」
As concerns over weaker office demand due to teleworking and similar factors continue, the vacancy rate temporarily rose from 1.3% to 2.7% following the completion of Kudan Kaikan Terrace. Excluding that property, the company explains that the vacancy rate was 0.9%. - FY2023-Q1MitigatedAnnual report
「Although the office market faces concerns over weaker demand for office buildings due to the diversification of work styles, including teleworking, it remains firm, particularly in the Shibuya area, where the company owns numerous properties. The vacancy rate for office buildings and commercial facilities remains low at 0.9%.」
Concerns over weaker office demand due to teleworking and similar factors continue, but the vacancy rate declined from 1.3% at the end of the previous period to 0.9%, and the company explains that it remains low. - FY2022MitigatedAnnual report
「As of the end of March 2022, the vacancy rate for office buildings and commercial facilities held by the Group was 1.3%, remaining at a low level.」
Concerns over weaker office demand due to teleworking and similar factors continue, but the vacancy rate declined from 1.4% at the end of the previous quarter to 1.3% and remains low. - FY2022-Q3WorsenedAnnual report
「Although there are concerns that the diversification of work styles, including teleworking, may reduce demand for office buildings, the vacancy rate for office buildings and commercial facilities remains low at 1.4%.」
The company continues to disclose concerns over weaker office demand due to teleworking and similar factors. The vacancy rate rose from 1.1% at the end of the previous quarter to 1.4%, while the company explains that it remains low. - FY2022-Q2Slight rise in vacancy rate, which remains lowAnnual report
「Although there are concerns that the diversification of work styles, including teleworking, may reduce demand for office buildings, the vacancy rate for office buildings and commercial facilities remains low at 1.1%.」
The company continues to disclose concerns over weaker office demand due to teleworking and similar factors. The vacancy rate rose slightly from 1.0% at the end of the previous quarter to 1.1%, but the company explains that it remains low. - FY2022-Q1MitigatedAnnual report
「Although there are concerns that the diversification of work styles, including teleworking, may reduce demand for office buildings, the vacancy rate for office buildings and commercial facilities remains low at 1.0%.」
Concerns over weaker office demand due to teleworking and similar factors continue, but the vacancy rate declined from 1.3% at the end of the previous period to 1.0%, and the company explains that it remains low. - FY2021Vacancy rate rises but remains lowAnnual report
「Although there are concerns that the diversification of work styles, including teleworking, may reduce demand for office buildings, the vacancy rate for office buildings and commercial facilities remains low at 1.3%.」
The company continues to disclose concerns over weaker office demand due to teleworking and similar factors. The vacancy rate rose from 0.6% at the end of the previous period to 1.3%, but the company explains that it remains low. - FY2021-Q3Vacancy rate rises but remains lowAnnual report
「Although there are concerns that the diversification of work styles, including teleworking, may reduce demand for office buildings, the vacancy rate for office buildings and commercial facilities remains low at 0.9%.」
The company continues to disclose concerns over weaker office demand due to teleworking and similar factors. The vacancy rate rose from 0.4% at the end of the previous quarter to 0.9%, but the company explains that it remains low. - FY2021-Q2Concerns over weaker office demand due to teleworkingAnnual report
「Although there are concerns that the diversification of work styles, including teleworking, may reduce demand for office buildings, lease cancellation notices have remained at approximately the previous year's level, and conditions remain firm.」
While identifying the potential decline in office demand due to the diversification of work styles as a concern, the company explains that lease cancellation notices are at approximately the previous year's level and current demand remains firm. - FY2019RestatedAnnual report
「The Group's real estate leasing, real estate sales, facility operations, real estate distribution, and real estate management businesses, among others, tend to be significantly affected by economic and interest rate trends in Japan and overseas, corporate earnings, personal consumption trends, employment and income conditions, real estate market conditions, the competitive environment, policy changes by the government and the Bank of Japan, and conditions in its operating areas, particularly central Tokyo. These factors may reduce profit margins and profitability in each business and cause the value of assets held to decline.」
The company continues to disclose the risk of changes in profitability and asset values arising from economic conditions, interest rates, employment and income, real estate market conditions, competition, and government policy, among other factors. - FY2018RestatedAnnual report
「The Group's real estate leasing, real estate sales, facility operations, real estate distribution, and real estate management businesses, among others, tend to be significantly affected by economic and interest rate trends in Japan and overseas, corporate earnings, personal consumption trends, employment and income conditions, real estate market conditions, the competitive environment, policy changes by the government and the Bank of Japan, and conditions in its operating areas, particularly central Tokyo. These factors may reduce profit margins and profitability in each business and cause the value of assets held to decline.」
The company has reconfirmed the broad range of operating environment risks arising from economic conditions, interest rates, employment and income, real estate market conditions, competition, and government policy. - FY2016First statedAnnual report
「The businesses tend to be significantly affected by economic trends, corporate earnings, and personal consumption trends, which may reduce profit margins and profitability in each business and cause the value of assets held to decline.」
The risk that real estate leasing, sales, facility operations, and distribution businesses may be affected by economic conditions has been identified.