Exposure to Rising Real Estate Prices and Properties Held for Sale
First written in FY2016. 14 of 34 entries say "Restated". Latest entry: FY2026.
&Do Holdings moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2026: 11 of 21 companies on the "Worse" side.
7 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The main factors behind the decrease were a ¥3,355 million decrease in inventories resulting from a decrease in properties held in the house leaseback and real estate trading businesses, and a ¥2,120 million decrease in property, plant and equipment resulting from changes in the holding purpose of properties held in the real estate trading business, including transfers from fixed assets to properties held for sale.」
Inventories decreased by ¥3,355 million from the end of the previous fiscal year, while properties held for sale also decreased from ¥34,129 million to ¥29,852 million. Exposure to fluctuations in real estate prices and valuations declined on a fiscal year-end basis. - FY2026-H1MitigatedAnnual report
「The main factor behind the decrease was a ¥3,094 million decrease in inventories resulting from a decrease in properties held in the house leaseback and real estate trading businesses.」
Inventories decreased by ¥3,094 million from the end of the previous fiscal year, while properties held for sale decreased from ¥34,129 million to ¥31,644 million and property under development for sale decreased from ¥8,709 million to ¥8,157 million. Exposure to properties held for sale contracted as of the interim period-end. - FY2025MitigatedAnnual report
「The main factors behind the decrease were a ¥3,513 million decrease in inventories resulting from a decrease in properties held in the house leaseback and real estate trading businesses, and a ¥3,141 million decrease in property, plant and equipment resulting from changes in the holding purpose of properties held in the real estate trading business, including transfers from fixed assets to properties held for sale.」
Inventories decreased by ¥3,513 million as properties held decreased, and exposure to properties held for sale, which had expanded through the previous fiscal year, contracted on a fiscal year-end basis. However, the company still held ¥34,129 million in properties held for sale and ¥8,709 million in property under development for sale, so the risk itself remains. - FY2025-H1WorsenedAnnual report
「The main factor behind the increase was a ¥342 million increase in inventories resulting from an increase in properties held in the real estate trading business.」
Inventories increased by ¥342 million as properties held increased, resulting in greater exposure to fluctuations in real estate prices and valuations. Properties held for sale amounted to ¥38,232 million, and property under development for sale amounted to ¥8,452 million. - FY2024-Q3WorsenedAnnual report
「The main factor behind the increase was a ¥4,031 million increase in inventories resulting from an increase in properties held in the house leaseback and real estate trading businesses.」
Inventories increased by ¥4,031 million as properties held increased, resulting in greater exposure to properties held for sale. - FY2024-Q2WorsenedAnnual report
「The main factors behind the increase were a ¥1,255 million increase in cash and deposits and a ¥2,104 million increase in inventories resulting from an increase in properties held in the house leaseback and real estate trading businesses.」
Inventories increased by ¥2,104 million due to an increase in properties held and other factors, resulting in greater exposure to properties held for sale. - FY2024-Q1WorsenedAnnual report
「The main factor behind the increase was a ¥4,650 million increase in inventories resulting from an increase in properties held in the house leaseback and real estate trading businesses.」
Inventories increased by ¥4,650 million from the end of the previous consolidated fiscal year, while properties held for sale increased from ¥34,680 million to ¥42,657 million. Exposure to fluctuations in real estate prices and valuations increased as properties held increased. - FY2023WorsenedAnnual report
「The main factors behind the increase were increases of ¥19,120 million in inventories and ¥3,463 million in property, plant and equipment, respectively, resulting from an increase in properties held in the house leaseback and real estate trading businesses, as well as an increase of ¥1,177 million in investment securities resulting from the securitization of inventories and the recognition of gains on investments in silent partnerships.」
Inventories increased by ¥19,120 million due to an increase in properties held and other factors, bringing properties held for sale at the end of the period to ¥34,680 million and property under development for sale to ¥9,240 million. The figures show that exposure to properties held for sale increased. - FY2023-Q3WorsenedAnnual report
「The main factors behind the increase were increases of ¥13,534 million in inventories and ¥3,364 million in property, plant and equipment, respectively, resulting from an increase in properties held in the house leaseback and real estate trading businesses, as well as an increase of ¥683 million in investment securities resulting from the securitization of inventories and the recognition of gains on investments in silent partnerships.」
The company disclosed that inventories increased by ¥13,534 million due to an increase in properties held and other factors, indicating greater exposure to properties held for sale. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company provides comprehensive disclosure stating that there have been no new developments or material changes in risks relating to real estate prices, properties held for sale, inventory valuations and other matters. - FY2022-Q3RestatedAnnual report
「In the real estate industry in which our Group operates, concern arose over the impact of higher selling prices resulting from soaring raw material costs. However, housing demand remained solid against the backdrop of the continuation of the Bank of Japan's monetary easing policy, and the business environment remained generally favorable.」
While continuing to disclose concerns over higher selling prices resulting from soaring raw material costs, the company explained that housing demand remained solid against the backdrop of monetary easing and that the business environment was generally favorable. - FY2022-Q2Disclosure of concerns over inflation resulting from soaring raw material costsAnnual report
「In the real estate industry in which our Group operates, concern arose over inflation resulting from soaring raw material costs. However, housing demand remained solid against the backdrop of the continuation of the Bank of Japan's monetary easing policy and housing acquisition support policies, and the business environment remained generally favorable.」
In connection with the existing concerns regarding construction costs and timber prices, the company explicitly disclosed inflation resulting from soaring raw material costs. At the same time, it explained that housing demand remained solid and the business environment was generally favorable. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company provides comprehensive disclosure stating that there have been no new developments or material changes in risks relating to real estate prices, land prices, construction costs, properties held for sale and other matters. - FY2021Additional disclosure of soaring timber prices and supply shortages caused by the lumber shockAnnual report
「Attention must also be paid to the impact of soaring timber prices and supply shortages caused by the “lumber shock,” which resulted from increased demand for housing timber, particularly in the United States and China.」
In addition to the existing concerns regarding real estate prices and construction costs, the company identified soaring housing timber prices and supply shortages as new concerns arising from the external environment. - FY2020RestatedAnnual report
「However, as real estate prices continued to rise, particularly in urban areas, the divergence from actual demand became a concern from a pricing perspective. In acquiring properties, the company has thoroughly pursued a policy of carefully managing this risk while acquiring properties that meet the needs of its brokerage customers」
The company continued to disclose risks including the rise in real estate prices in urban areas and their divergence from actual demand, as well as declines in inventory valuations. - FY2020-Q3Additional disclosure of uncertainty in market conditions resulting from COVID-19Annual report
「In the real estate industry in which our Group operates, housing demand remained solid against the backdrop of improving employment and income conditions, housing acquisition support policies and the continuation of the Bank of Japan's monetary easing policy. However, uncertainty about the outlook increased as a result of the spread of COVID-19, and it became necessary to monitor market trends more closely.」
In addition to the previously disclosed firmness of housing demand, the company newly identified uncertainty in market conditions resulting from the spread of COVID-19. - FY2020-Q2RestatedAnnual report
「Although concern arose over the impact on selling prices as land prices continued to rise, housing demand remained solid against the backdrop of improving employment and income conditions, housing acquisition support policies and the continuation of the Bank of Japan's monetary easing policy, and the business environment was generally favorable.」
While continuing to cite the impact of rising land prices on selling prices as a concern, the company explained that housing demand remained solid and the business environment was generally favorable. - FY2020-Q1Explicit disclosure of soaring construction costsAnnual report
「In the real estate industry in which our Group operates, concern arose over the impact on selling prices from the continued upward trend in land prices and soaring construction costs. However, housing demand remained solid against the backdrop of improving employment and income conditions, housing incentive programs and the continuation of the Bank of Japan's monetary easing policy, and the business environment was generally favorable.」
The company explicitly cited the impact on selling prices from rising land prices and soaring construction costs as a concern. It explained that housing demand remained solid and the business environment was generally favorable. - FY2019RestatedAnnual report
「However, as real estate prices continued to rise, particularly in urban areas, the divergence from actual demand became a concern from a pricing perspective. In acquiring properties, the company has thoroughly pursued a policy of carefully managing this risk while acquiring properties that meet the needs of its brokerage customers」
The company continued to express concern over rising real estate prices in urban areas and their divergence from actual demand, and described a cautious policy of acquiring properties that meet the needs of brokerage customers. - FY2019-Q3RestatedAnnual report
「In the real estate industry in which our Group operates, concern arose over the impact on selling prices from the continued upward trend in land prices and higher raw material costs. However, housing demand remained solid against the backdrop of improving employment and income conditions, preferential tax measures and the continuation of the Bank of Japan's monetary easing policy, and the business environment was generally favorable.」
While continuing to cite the impact on selling prices from rising land prices and higher raw material costs as concerns, the company explained that housing demand remained solid and the business environment was generally favorable. - FY2019-Q2RestatedAnnual report
「In the real estate industry in which our Group operates, concern arose over the impact on selling prices from the continued upward trend in land prices and higher raw material costs. However, housing demand remained solid against the backdrop of improving employment and income conditions, preferential tax measures and the continuation of the Bank of Japan's monetary easing policy, and the business environment was generally favorable.」
While continuing to cite the impact on selling prices from rising land prices and higher raw material costs as concerns, the company explained that housing demand remained solid and the business environment was generally favorable. - FY2019-Q1Addition of rising crude oil and raw material pricesAnnual report
「In the real estate industry in which our Group operates, concern arose over the impact on selling prices from factors including the upward trend in land prices and higher raw material costs resulting from soaring crude oil prices. However, actual demand remained firm against the backdrop of the Bank of Japan's monetary easing policy, and the business environment was generally favorable.」
The company cited rising land prices and higher raw material costs resulting from soaring crude oil prices as factors that could affect selling prices. At the same time, it explained that actual demand remained firm and the business environment was generally favorable. - FY2018MitigatedAnnual report
「Revenue from the real estate sales business in the fiscal year ended June 2018 was ¥8,909 million, up 25.3% from the previous fiscal year and accounting for 39.6% of total revenue, but it continued to represent a high proportion of the group’s revenue. Inventories as a percentage of total assets declined from 28.6% in the fiscal year ended June 2017 to 21.6% in the fiscal year ended June 2018,」
The real estate sales business’s share of total revenue declined from 42.2% to 39.6%, and inventories as a percentage of total assets fell from 28.6% to 21.6%. Meanwhile, risks including declines in real estate prices, reductions in selling prices and lower inventory valuations continued to be disclosed. - FY2018-Q3RestatedAnnual report
「In the real estate industry in which our group operates, concerns arose about higher selling prices amid continued increases in land prices. However, end-user demand remained solid against the backdrop of the Bank of Japan’s monetary easing policy, and the business environment was generally favorable.」
The company continues to disclose concerns about rising land prices and higher selling prices, while explaining that end-user demand remains solid and the business environment is generally favorable. - FY2018-Q2RestatedAnnual report
「In the real estate industry in which our group operates, concerns arose about higher selling prices amid continued increases in land prices. However, end-user demand remained solid against the backdrop of the Bank of Japan’s monetary easing policy, and the business environment was generally favorable.」
The company reiterates concerns about rising land prices and higher selling prices, but explains that end-user demand remains solid and the business environment is generally favorable, with no material changes in the risks. - FY2018-Q1RestatedAnnual report
「In the real estate industry in which our group operates, concerns arose about higher selling prices amid continued increases in land prices. However, end-user demand remained solid against the backdrop of the Bank of Japan’s monetary easing policy, and the business environment was generally favorable.」
The company reiterates concerns about rising land prices and higher selling prices. It explains that end-user demand remains solid against the backdrop of monetary easing and states that there have been no material changes in the risks. - FY2017WorsenedAnnual report
「Revenue from the real estate sales business in the fiscal year ended June 2017 was ¥7,111 million, down 20.5% from the previous fiscal year and accounting for 42.2% of total revenue, but it continued to represent a high proportion of the group’s revenue.」
Although revenue from the real estate sales business declined, the business continued to account for a high 42.2% of total revenue. Inventories as a percentage of total assets fell to 28.6%, but risks including fluctuations in real estate prices and declines in valuation continued to be disclosed. - FY2017-Q3RestatedAnnual report
「Although there were concerns about higher selling prices resulting from rising raw material prices and land prices,」
The company continues to reiterate concerns about higher selling prices resulting from rising raw material prices and land prices. It also continues its cautious acquisition policy, with particular attention to risk in investment real estate mainly in urban areas and higher-priced properties. - FY2017-Q2RestatedAnnual report
「Although there were concerns about higher selling prices resulting from rising raw material prices and land prices,」
The company reiterates concerns about higher selling prices resulting from rising raw material prices and land prices. It also indicates a cautious acquisition policy for investment real estate in urban areas and higher-priced properties. This does not describe any newly quantified loss. - FY2017-Q1RestatedAnnual report
「There were concerns that higher raw material prices, affected by the weaker yen, would drive up selling prices,」
While reiterating concerns about rising raw material prices and higher selling prices, the company indicates a cautious acquisition policy for investment real estate in urban areas and higher-priced properties. - FY2016First statedAnnual report
「Revenue from this business in the fiscal year ended June 2016 was ¥8,949 million, up 24.9% from the previous fiscal year and accounting for 51.8% of total revenue. Inventories as a percentage of total assets declined from 52.0% in the fiscal year ended June 2015 to 38.1% in the fiscal year ended June 2016.」
The disclosure states that rising urban land prices, material costs and labor costs, lower selling prices, declining inventory valuations and impairment losses on rental properties could affect results. The real estate sales business plans to shift its weighting toward recurring-revenue businesses.