Fluctuations in Housing Demand Driven by Economic Conditions, Interest Rates, Demographics and Consumption Tax
First written in FY2016. 16 of 37 entries say "Restated". Latest entry: FY2026.
&Do Holdings moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 36 of 51 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2026Additional disclosure of Middle East tensions and inflationAnnual report
「However, the impact of high prices, rising interest rates and geopolitical risks has continued, and close attention must continue to be paid to changes in the external environment.」
In addition to the existing risk of fluctuations in housing demand due to rising interest rates and other factors, high prices and continuing geopolitical risks, including the situation in the Middle East, are noted as concerns in the external environment. - FY2026-H1WorsenedAnnual report
「In the real estate industry in which our group operates, prices, particularly for new homes, remained high due to surging raw material prices and other factors, while mortgage interest rates were also trending upward, raising concerns about the impact on customers' willingness to purchase. Nevertheless, housing demand has remained firm.」
Regarding the existing risk of fluctuations in housing demand due to raw material prices, interest rates and other factors, the persistently high prices of new homes and the upward trend in mortgage interest rates are explicitly noted, with concerns raised about the impact on customers' willingness to purchase. - FY2025Addition of global economic risks arising from US tariff policyAnnual report
「However, close attention must continue to be paid to the impact of US tariff policy on the global economy and other factors.」
In addition to the existing risk of fluctuations in housing demand due to interest rates, land prices, housing taxation and demographic trends, the impact of US tariff policy on the global economy is identified as a new downside factor for the economy. - FY2025-H1RestatedAnnual report
「However, there are many uncertain factors affecting the economy, including interest rate developments and economic conditions in Japan and overseas, and close attention must continue to be paid to them.」
The uncertainty surrounding the economy and housing demand due to interest rate developments and economic conditions in Japan and overseas continues to be noted. - FY2024-Q3RestatedAnnual report
「The economy is expected to return to a gradual recovery path, but the outlook remains uncertain due to rising prices, interest rate developments in Japan and overseas, geopolitical risks and other factors.」
Rising prices, interest rate developments in Japan and overseas, and geopolitical risks continue to be cited as sources of uncertainty about the outlook for the economy and housing demand. - FY2024-Q2RestatedAnnual report
「However, uncertainty about the outlook has remained high, including due to price trends and interest rate developments in Japan and overseas.」
The uncertainty about the outlook for the economy and housing demand due to price trends and interest rate developments in Japan and overseas continues to be noted. - FY2024-Q1Continued uncertainty caused by inflation and global monetary tighteningAnnual report
「However, uncertainty about the outlook has continued due to inflation caused by surging raw material prices and the impact of global monetary tightening.」
In relation to the existing risk of fluctuations in housing demand due to economic conditions, interest rates and other factors, inflation caused by surging raw material prices and the impact of global monetary tightening are cited as sources of uncertainty about the outlook. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter under review, private consumption and corporate earnings were on a recovery trend and the economy as a whole showed signs of recovery. However, uncertainty about the outlook remained high, including the risk of an economic recession resulting from monetary tightening in various countries, and close attention must be paid to changes in the external environment.」
While indicating an economic recovery, it newly explicitly identifies the risk of an economic recession resulting from monetary tightening in various countries and other factors, and continues to note uncertainty about the outlook for the economy and housing demand. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, Japan's economy showed signs of recovery as efforts to contain COVID-19 and sustain economic activity progressed in parallel. However, close attention must be paid to downside risks to the economic outlook, including the impact of global interest rate increases, particularly in the US and Europe, and higher resource prices.」
While indicating a recovery resulting from the parallel containment of COVID-19 and continuation of economic activity, it continues to cite global interest rate increases and higher resource prices as downside factors for the economy and housing demand. - FY2023-Q1Addition of the situation in Ukraine, inflation and rising interest rates in the US and EuropeAnnual report
「During the cumulative first quarter under review, Japan's economy showed signs of recovery as the impact of COVID-19 gradually eased in various areas due to progress in countermeasures. However, close attention must be paid to downside risks to the economic outlook, including the prolonged situation in Ukraine, global inflation and the impact of rising interest rates in the US and Europe.」
While indicating that the impact has eased and the economy is recovering as countermeasures against COVID-19 advance, it identifies the prolonged situation in Ukraine, global inflation and rising interest rates in the US and Europe as new downside factors for the economy. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter under review, Japan's economy remained in a situation where the normalization of economic activity was not yet in sight due to the arrival of the sixth wave of COVID-19, while uncertainty about the outlook intensified further amid the emergence of geopolitical risks and surging resource prices.」
In addition to the existing risk of a renewed spread of infections, the sixth wave, the emergence of geopolitical risks and surging resource prices are stated to have further increased uncertainty about the outlook for the economy and housing demand. - FY2022-Q2RestatedAnnual report
「However, the timing of the end of the pandemic remains uncertain, including due to the renewed spread of infections resulting from the emergence of variants and other factors.」
The renewed spread of infections due to the emergence of variants and other factors, and the uncertainty over when the pandemic will end, continue to be cited as downside factors for the economy and housing demand. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy remained in a difficult condition due to the continuing impact of COVID-19, although it was gradually recovering. However, despite progress in vaccinations, the renewed spread of infections due to the emergence of variants and other factors has continued to delay the full resumption of economic activity, and close attention must continue to be paid to changes in the external environment.」
While showing a gradual recovery amid the continuing impact of the pandemic, the renewed spread of infections caused by variants and the delay in resuming economic activity continue to be cited as downside factors for the economy and housing demand. - FY2021Update on downside factors for the economy arising from variant viruses and the lumber shockAnnual report
「However, the outlook remains highly uncertain, including due to the renewed spread of infections caused by variant viruses and the impact of the lumber shock.」
While indicating the prospect of an economic recovery as vaccination becomes widespread, it identifies the renewed spread of variant viruses and the lumber shock as new sources of uncertainty about the outlook. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter under review, Japan's economy was on a recovery trend amid the continuing impact of COVID-19 both in Japan and overseas. However, the declaration of a second state of emergency due to the renewed spread of infections heightened concerns about the economic outlook, as there was no clear end to the pandemic in sight.」
In addition to the existing uncertainty over the economy and housing demand caused by COVID-19, the second state of emergency declared following the renewed spread of infections and the heightened concerns about the economic outlook are noted. - FY2021-Q2WorsenedAnnual report
「However, uncertainty about the outlook has persisted amid the continued spread of COVID-19 toward winter, and close attention must continue to be paid to changes in the business environment.」
In addition to the uncertainty caused by the pandemic as of the first quarter, the continued uncertainty about the outlook resulting from the renewed spread of infections in winter is explicitly noted. - FY2021-Q1RestatedAnnual report
「During the cumulative first quarter under review, Japan's economy remained highly uncertain, as economic activity gradually resumed amid the continuing impact of COVID-19, while corporate earnings and business sentiment deteriorated and employment and income conditions showed signs of weakness.」
The impact of COVID-19, deterioration in corporate earnings and business sentiment, and uncertainty over the economy and housing demand stemming from weak employment and income conditions continue to be noted. - FY2020MaterialisedAnnual report
「In addition to the cooling of consumer sentiment resulting from the consumption tax increase, the stagnation of economic activity associated with the global spread of COVID-19 caused domestic and overseas economies to deteriorate rapidly, increasing uncertainty about the outlook.」
The company stated that the previously disclosed risk of fluctuations in housing demand resulting from economic conditions, consumption tax and other factors had materialized through cooling consumer sentiment and stagnation in economic activity caused by the spread of COVID-19. - FY2020-Q3Additional disclosure of COVID-19 as a factor that could weigh on the economyAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the Japanese economy remained on a moderate recovery trend against the backdrop of highly accommodative financial conditions and active government spending. However, attention must be paid to downside risks to the economic outlook, including trends in overseas economies resulting from prolonged trade friction and the impact on the economy of the global spread of COVID-19.」
In addition to the previously cited trade friction and overseas economies, the company identified the economic impact of the global spread of COVID-19 as a factor that could weigh on the economy. - FY2020-Q2Update to factors that could weigh on the economyAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the Japanese economy continued to expand moderately against the backdrop of highly accommodative financial conditions and active government spending, despite concern over the impact of a slowdown in overseas economies resulting from prolonged U.S.-China trade friction and other factors. However, attention must be paid to downside risks to the economic outlook, including U.S. economic trends and economic conditions in emerging-market and resource-exporting countries, including China.」
The company cited prolonged U.S.-China trade friction, U.S. economic trends and economic conditions in emerging-market and resource-exporting countries, including China, as factors that could weigh on economic conditions and housing demand. - FY2020-Q1Update to factors that could weigh on the economyAnnual report
「However, attention must be paid to domestic and overseas economic conditions ahead, including U.S. economic trends, trade issues and the impact of the consumption tax increase.」
The company cited U.S. economic trends, trade issues and the impact of the consumption tax increase as factors that could weigh on economic conditions and housing demand. - FY2019RestatedAnnual report
「However, attention must be paid to domestic and overseas economic conditions ahead, including U.S. economic policy, trade issues and the impact of the consumption tax increase.」
The company continued to disclose the risks of economic downturns and fluctuations in housing demand resulting from U.S. economic policy, trade issues, the consumption tax increase and other factors. - FY2019-Q3Update to factors that could weigh on the economyAnnual report
「However, attention must be paid to domestic and overseas economic conditions ahead, including U.S. economic policy, concerns over a slowdown in overseas economies and the impact of the consumption tax increase.」
The company cited U.S. economic policy, concerns over a slowdown in overseas economies and the impact of the consumption tax increase as factors that could weigh on economic conditions and housing demand. - FY2019-Q2Update to factors that could weigh on the economyAnnual report
「However, attention must be paid to downside risks to the economic outlook, including U.S. economic policy, concerns over a slowdown in the economies of emerging Asian and resource-exporting countries, and the impact of the consumption tax increase.」
The company cited U.S. economic policy, concerns over a slowdown in the economies of emerging Asian and resource-exporting countries, and the impact of the consumption tax increase as factors that could weigh on economic conditions and housing demand. - FY2019-Q1Update to factors that could weigh on the economyAnnual report
「However, attention must be paid to domestic and overseas downside risks to the economic outlook, including escalating trade friction resulting from U.S. protectionist policies, rising interest rates and the consumption tax increase.」
The company cited escalating trade friction resulting from U.S. protectionist policies, rising interest rates and the consumption tax increase as factors that could weigh on economic conditions and housing demand. - FY2018Update to factors that could weigh on the economyAnnual report
「However, attention must be paid to downside risks to the economic outlook, including concerns over escalating U.S.-China trade friction, political developments in Europe and a decline in personal consumption resulting from the consumption tax increase.」
While continuing to disclose risks relating to economic conditions, interest rates, demographic trends, tax measures and other factors affecting housing demand, the company newly cited U.S.-China trade friction, political developments in Europe and a decline in personal consumption resulting from the consumption tax increase as factors that could weigh on the economy. - FY2018-Q3RestatedAnnual report
「However, attention must be paid to downside risks to the economic outlook, including U.S. economic policy, political developments in Europe and the situation in East Asia.」
The company continued to disclose U.S. economic policy, political developments in Europe and the situation in East Asia as factors that could weigh on the economy. - FY2018-Q2RestatedAnnual report
「However, attention must be paid to downside risks to the economic outlook, including U.S. economic policy, political developments in Europe and the situation in East Asia.」
The company continued to disclose U.S. economic policy, political developments in Europe and the situation in East Asia as factors that could weigh on the economy. - FY2018-Q1RestatedAnnual report
「However, attention must be paid to downside risks to the economic outlook, including the situation in East Asia and political developments in Europe and the United States.」
The company cited the situation in East Asia and political developments in Europe and the United States as factors that could weigh on the economy, and continued to disclose the risk of fluctuations in housing demand resulting from the external environment. - FY2017RestatedAnnual report
「If the economic outlook deteriorates, interest rates rise substantially, land prices increase, or housing tax measures and other conditions change, purchasing sentiment among prospective homebuyers could weaken.」
The company continued to disclose risks of fluctuations in housing demand resulting from economic conditions, interest rates, land prices, housing tax measures, demographic trends and other factors. It also reiterated the planned increase in the consumption tax rate to 10% from October 2019. - FY2017-Q3RestatedAnnual report
「Attention must be paid to various factors that could weigh on the economic outlook, including heightened political risk in Europe and downturns in emerging-market economies resulting from interest-rate hikes in the United States.」
The company continued to specifically identify political risk in Europe, U.S. interest-rate hikes and downturns in emerging-market economies as factors that could weigh on the economy. - FY2017-Q2RestatedAnnual report
「Attention must be paid to risks that could weigh on the economic outlook, including heightened political risk in Europe and downturns in emerging-market economies resulting from interest-rate hikes in the United States.」
The company specifically cited political risk in Europe, U.S. interest-rate hikes and downturns in emerging-market economies as factors that could weigh on the economy, while stating that there had been no material changes in business or other risks. - FY2017-Q1Concurrent disclosure of the tax increase postponement and overseas economic risksAnnual report
「Attention must be paid to risks that could weigh on the economic outlook, including a slowdown in inbound demand caused by yen appreciation and downside risks to overseas economies, particularly China. In addition, although consumer sentiment temporarily stabilized following the decision to postpone the consumption tax increase」
While disclosing the postponement of the consumption tax increase, the company also identified yen appreciation and downside risks to overseas economies, including China, as current economic risks. - FY2016First statedAnnual report
「Consumption tax and other taxes were raised from 5% to 8%, with a further increase to 10% scheduled for the future.」
The company cited the possibility that changes in economic conditions, interest rates, land prices, housing tax measures, population and the number of households, and the consumption tax rate could reduce purchasing sentiment and housing demand, affecting orders received and net sales.