Construction schedule and cost risks from securing subcontractors and shortages of skilled workers
First written in FY2016. 5 of 12 entries say "Restated". Latest entry: 2026-08-13.
Ki-Star Real Estate moved to the "Worse" side of this theme in 2019, 6 years before the typical company in this theme (2025).
The whole theme swung hardest in 2026: 14 of 57 companies on the "Worse" side.
14 other companies' latest entry also says "Mitigated".
- 2026-08-13MitigatedEarnings presentation
「We are developing a training system for craftsmen to increase in-house construction and pass on technical expertise.」
The company specifically presents the expansion of in-house construction and craftsman training as measures to strengthen its construction system and secure skilled workers. - FY2022-Q3MaterialisedAnnual report
「At the same time, increased demand due to stronger preferences for owner-occupied housing, along with labor shortages and logistics disruptions caused by the spread of COVID-19, has resulted in delays and price increases for building materials and housing equipment. This has raised concerns about construction delays and higher property prices.」
Shortages of workers and disruptions to logistics caused delays in the delivery of materials and equipment, and the company reports an actual situation in which construction delays were a concern. - FY2020MaterialisedAnnual report
「In addition, the impact of COVID-19 has caused a decline in customer traffic due to requests to refrain from going out, as well as delays in construction schedules due to late deliveries of housing equipment resulting from factory closures and reduced operating capacity.」
The company states that delays in equipment deliveries and construction periods due to an infectious disease actually occurred, in addition to shortages of skilled workers and other factors. - FY2019MaterialisedAnnual report
「During the current consolidated fiscal year, the company strengthened sales of inventory whose turnover period had lengthened during the previous consolidated fiscal year due to shortages of skilled workers and other factors, with the aim of improving its financial position.」
The company states that inventory turnover periods in fact lengthened due to shortages of skilled workers and other factors, and that it responded by strengthening sales. - FY2019-Q3MaterialisedAnnual report
「Operating income was affected by a decline in the gross profit margin resulting from efforts to sell early inventory whose turnover period had lengthened, with the aim of improving the company's financial position. As a result, gross profit increased by only ¥2,305.759 million. Selling, general and administrative expenses also increased by ¥1,624.592 million, mainly due to higher brokerage fees accompanying the increase in sales, which increased variable costs.」
The company states that inventory whose turnover period had lengthened due to shortages of skilled workers and other factors was in fact sold early, resulting in a lower gross profit margin. - FY2019-Q2MaterialisedAnnual report
「As of the end of the first quarter of the current consolidated fiscal year, the company strengthened sales during the second quarter of the current consolidated fiscal year for inventory whose turnover period had lengthened during the previous consolidated fiscal year due to shortages of skilled workers and other factors, with the aim of improving its financial position.」
The company states that inventory turnover periods in fact lengthened due to shortages of skilled workers and other factors, and that it strengthened sales during the current quarter in response. - FY2018RestatedAnnual report
「Because we rely on subcontractors for most construction work, a sharp increase in orders accompanying an increase in the number of homes sold could make it difficult to secure sufficient subcontractors. In addition, delays in construction resulting from subcontractors' financial difficulties, workload or other factors could affect our group's earnings and financial condition.」
The company continues to identify the risks of subcontractor shortages, a decline in the number of skilled workers, construction delays and higher subcontracting costs. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified in the construction period and cost risks arising from securing subcontractors and shortages of skilled workers. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified in the construction period and cost risks arising from securing subcontractors and shortages of skilled workers. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified in the construction period and cost risks arising from securing subcontractors and shortages of skilled workers. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified in the construction period and cost risks arising from securing subcontractors and shortages of skilled workers. - FY2016First statedAnnual report
「Because we rely on subcontractors for most construction work, a sharp increase in orders accompanying an increase in the number of homes sold could make it difficult to secure sufficient subcontractors. In addition, delays in construction resulting from subcontractors' financial difficulties, workload or other factors could affect our earnings and financial condition.」
The company identifies shortages of subcontractors, subcontractors' financial difficulties and heavy workloads, as well as declines in completed homes and increases in subcontracting costs due to the shrinking pool of skilled workers, as risks.