Dependence on New Housing Starts, Economic Conditions and Housing Policy, Among Other Factors
First written in FY2016. 20 of 41 entries say "Worsened", first in FY2017-Q3. Latest entry: FY2026.
Shinto moved to the "Worse" side of this theme in 2017, 4 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 36 of 51 companies on the "Worse" side.
20 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「In the housing market, housing starts for owner-occupied homes have remained weak, with the annual cumulative total below the previous year according to the Ministry of Land, Infrastructure, Transport and Tourism's Building Starts Statistics Survey Report. In addition, housing prices have risen against a backdrop of the continued depreciation of the yen and persistently high material and energy prices, while the trend toward higher mortgage rates has made the environment for purchasing a home increasingly challenging. Difficult conditions continue.」
The number of owner-occupied housing starts fell below the previous year, while housing prices rose and mortgage rates continued to trend upward, resulting in an increasingly challenging environment and greater risk from reliance on housing demand. - FY2026-H1WorsenedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, owner-occupied housing starts have remained below the year-earlier level for 9 consecutive months, indicating continued weakness. In addition to higher housing prices against a backdrop of the weaker yen and persistently high material and energy prices, concerns about higher mortgage rates and the mandatory compliance with energy-efficiency standards and stricter building confirmation application procedures following amendments to the Building Standards Act have increased the burden at the design and application stages and tended to extend the time required before construction can begin. The environment for acquiring a home therefore remains difficult.」
In addition to owner-occupied housing starts declining year on year for 9 consecutive months, the amendments to the Building Standards Act introduced mandatory compliance with energy-efficiency standards and stricter building confirmation applications, adding increased design and application burdens and longer lead times before construction can begin as factors. - FY2025WorsenedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, owner-occupied housing starts have been trending down year on year and remain at low levels. Difficult conditions continue due to factors including higher building material prices, rising labor costs, inflation, and concerns about higher mortgage rates.」
Owner-occupied housing starts have been trending down year on year and remain at low levels. Higher building material prices, labor costs, general prices, and concerns about higher interest rates have been identified as sources of downward pressure on the housing market. - FY2025-H1Increase in owner-occupied housing starts alongside persistently low levelsAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, owner-occupied housing starts have increased year on year but remain at low levels. Although policies such as tax measures supporting child-rearing have reduced the burden associated with acquiring a home, difficult conditions continue, including higher housing prices resulting from the weaker yen and surging resource prices.」
Although owner-occupied housing starts increased year on year, difficult conditions in the housing market have continued due to persistently low levels of housing starts and higher housing prices. - FY2024WorsenedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, owner-occupied housing starts have declined year on year for 31 consecutive months and remain at low levels. Although new policies, including the Child-Rearing Eco Home Support Program and preferential mortgage interest rates, have reduced the burden associated with acquiring a home, difficult conditions continue, including higher housing prices resulting from the weaker yen and surging resource prices.」
Owner-occupied housing starts declined year on year for 31 consecutive months, extending the period from the 28 consecutive months disclosed previously. Dependence on the housing market remains a risk, including the impact of higher housing prices. - FY2024-Q3WorsenedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, owner-occupied housing starts have declined year on year for 28 consecutive months and remain at low levels. Although policies such as preferential mortgage interest rates have reduced the burden associated with acquiring a home, difficult conditions continue, including higher housing prices resulting from the weaker yen and surging resource prices.」
Owner-occupied housing starts declined year on year for 28 consecutive months, extending the period from the 24 consecutive months disclosed previously. Difficult conditions in the housing market have continued, including higher housing prices. - FY2024-Q2WorsenedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, owner-occupied housing starts have declined year on year for 24 consecutive months and remain at low levels. Although policies such as preferential mortgage interest rates have reduced the burden associated with acquiring a home, difficult conditions continue, including higher housing prices resulting from the weaker yen and surging resource prices.」
The company specifies that owner-occupied housing starts have declined year on year for 24 consecutive months, while the downturn in the housing market and higher housing prices resulting from the weaker yen and surging resource prices have continued. - FY2024-Q1RestatedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, owner-occupied housing starts have declined and remained at low levels. Although policies such as preferential mortgage interest rates have reduced the burden associated with acquiring a home, difficult conditions continue, including higher housing prices resulting from the weaker yen and surging resource prices.」
The company continues to describe the difficult conditions in the housing market, including declining and low levels of owner-occupied housing starts and higher housing prices resulting from the weaker yen and surging resource prices. - FY2023WorsenedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, total new housing starts, including condominiums, declined from the previous fiscal year. Although policies such as preferential mortgage interest rates have reduced the burden associated with acquiring a home, owner-occupied housing starts, an indicator for detached housing, also declined by more than 10% from the previous fiscal year due to the prolonged COVID-19 pandemic and higher housing prices resulting from the weaker yen and surging resource prices. Conditions therefore remain difficult.」
The company specified that total new housing starts declined from the previous fiscal year and that owner-occupied housing starts also fell by more than 10%. The downturn in the housing market has materialized in actual performance as a factor behind the ¥377 million decrease in net sales. - FY2023-Q3RestatedAnnual report
「In the housing market, although policies such as preferential mortgage interest rates have reduced the burden associated with acquiring a home, total housing starts have remained low due to the prolonged COVID-19 pandemic and higher housing prices resulting from the weaker yen and surging resource prices.」
Although housing acquisition support policies are in place, total housing starts have remained low due to the prolonged COVID-19 pandemic and the impact of higher housing prices resulting from the weaker yen and surging resource prices. - FY2023-Q2WorsenedAnnual report
「In the housing market, although policies such as the Child Future Housing Support Program have reduced the burden associated with acquiring a home, total housing starts have remained low due to the prolonged COVID-19 pandemic and higher housing prices resulting from the weaker yen and surging resource prices.」
Although housing acquisition support policies are in place, the prolonged COVID-19 pandemic and higher housing prices resulting from the weaker yen and surging resource prices are cited as new sources of downward pressure, and housing starts have remained low. - FY2022WorsenedAnnual report
「In the housing market, according to the Construction Starts Statistical Survey Report published by the Ministry of Land, Infrastructure, Transport and Tourism, total new housing starts, including condominiums, have remained above the previous fiscal year’s level. However, conditions remain difficult, with owner-occupied housing starts, an indicator for detached housing, falling below the year-earlier level for 7 consecutive months since December 2021.」
Although total new housing starts exceeded the previous period, owner-occupied housing starts were negative year on year for 7 consecutive months from December 2021, underscoring the difficult conditions in the detached housing market. - FY2022-Q3RestatedAnnual report
「In the housing market, owner-occupied housing starts among total new housing starts have remained above the year-earlier level since March 2021, indicating a gradual shift toward recovery. However, total housing starts have remained low, partly due to the impact of the global lumber shortage.」
The company states that owner-occupied housing starts have been on a recovery trend, remaining positive year on year since March 2021, while total housing starts have remained low due in part to the impact of the global lumber shortage. - FY2022-Q2WorsenedAnnual report
「In the housing market, owner-occupied housing starts among total new housing starts have remained above the year-earlier level since March 2021, indicating a gradual shift toward recovery. However, total housing starts have remained low, partly due to the impact of the global lumber shortage.」
Owner-occupied housing starts shifted toward recovery, remaining positive year on year since March 2021, while total housing starts have continued at low levels due in part to the impact of the global lumber shortage. - FY2022-Q1Recovery in owner-occupied housing starts alongside persistently low levelsAnnual report
「In the housing market, owner-occupied housing starts among total new housing starts have remained above the year-earlier level since March 2021, indicating a gradual shift toward recovery. However, amid record heavy rainfall in August, including repeated river flooding and landslides mainly in western Japan, housing starts turned positive in the quarter but remained at low levels overall.」
Owner-occupied housing starts shifted toward recovery, remaining positive year on year since March 2021, while total housing starts have continued at low levels. - FY2021WorsenedAnnual report
「In the housing market as well, as noted above, new housing starts remained below the year-earlier level for 20 consecutive months through February 2021, against a backdrop of weaker purchasing sentiment accompanying the spread of COVID-19 and weaker consumer sentiment resulting from the higher consumption tax rate in October 2019.」
The company specifies the duration of the housing market dependence risk, stating that new housing starts were negative year on year for 20 consecutive months through February 2021. - FY2021-Q3WorsenedAnnual report
「In the housing market as well, the higher consumption tax rate in October 2019 and weaker consumer sentiment resulting from COVID-19 contributed to new housing starts remaining below the year-earlier level for 20 consecutive months through February 2021.」
The company specifies the duration of the impact on the housing market, stating that new housing starts were negative year on year for 20 consecutive months through February 2021. - FY2021-Q2MaterialisedAnnual report
「In the housing market as well, new housing starts declined as traffic at housing exhibition centers slowed in connection with measures to prevent the spread of COVID-19, while the impact of the consumption tax increase that began last year also contributed. Conditions surrounding the housing environment remained difficult.」
The decline in traffic at housing exhibition centers and the impact of the consumption tax increase resulted in an actual decline in new housing starts, and difficult conditions in the housing market have continued. - FY2021-Q1WorsenedAnnual report
「In the housing market as well, the decline in traffic at housing exhibition centers due to the spread of COVID-19 had an impact. The number of owner-occupied housing starts among total new housing starts continued to decline by approximately 10% year on year, and conditions surrounding the housing environment remained difficult.」
The company describes the impact on the housing market in specific figures, stating that owner-occupied housing starts have continued to decline by approximately 10% year on year against a backdrop of reduced traffic at housing exhibition centers due to COVID-19. - FY2020MaterialisedAnnual report
「In the housing market as well, as noted above, new housing starts declined due to weaker purchasing sentiment accompanying the higher consumption tax rate and the spread of COVID-19.」
The decline in new housing starts materialized against a backdrop of the higher consumption tax rate and weaker purchasing sentiment accompanying the spread of COVID-19, and is cited as a factor behind the decrease in net sales. - FY2020-Q3WorsenedAnnual report
「In the housing market as well, new housing starts declined against a backdrop of the backlash from rush demand ahead of the consumption tax increase, the higher consumption tax rate, and weaker consumer sentiment resulting from the impact of COVID-19.」
As new housing starts continued to decline, the company identified weaker consumer sentiment resulting from COVID-19, in addition to the higher consumption tax rate, as a factor, adding another source of downward pressure on the housing market. - FY2020-Q2MaterialisedAnnual report
「In the housing market, new housing starts declined against a backdrop of the backlash from rush demand ahead of the consumption tax increase and the higher consumption tax rate.」
The decline in new housing starts materialized against a backdrop of the backlash from rush demand ahead of the consumption tax increase and the higher consumption tax rate, and is reflected in the explanation of the economic environment accompanying the year-on-year decline in net sales. - FY2020-Q1RestatedAnnual report
「During the three months ended March, 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 prior fiscal year.」
The company states that there have been no material changes to existing risks, including its dependence on new housing starts and related factors. - FY2019-Q3RestatedAnnual report
「In this industry as well, mortgage rates have remained low, but the outlook remains uncertain.」
Although mortgage rates have remained low, uncertainty about the outlook for the housing-related market persists. The company states that there have been no material changes to business and other risks. - FY2019-Q2RestatedAnnual report
「During the six months ended June, 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 prior fiscal year.」
The company states that there have been no material changes to existing risks, including its dependence on new housing starts and related factors. - FY2019-Q1MaterialisedAnnual report
「In this industry as well, new housing starts and detached housing starts have remained at low levels, and conditions remain unstable. In terms of sales, we pursued active sales initiatives, including expanding sales of our flagship CERAM series and developing new customers. However, due in part to the continued low level of detached housing starts, net sales declined ¥41 million year on year to ¥1,403 million.」
New and detached housing starts remain low and conditions unstable, with the low level of detached housing starts continuing to weigh on performance and contributing to the year-on-year decline in net sales. - FY2018MaterialisedAnnual report
「Although mortgage rates have remained low, housing construction has been weak. The number of new housing starts has declined year on year, increasing uncertainty about the outlook.」
The decline in new housing starts and weakness in housing construction have materialized in performance, contributing to a ¥534 million year-on-year decrease in net sales. - FY2018-Q3MaterialisedAnnual report
「In this industry, the number of new housing starts has remained firm year on year, owing to the impact of mortgage interest rates at historically low levels. However, the number of detached-house starts remains low, and uncertainty is increasing. Regarding sales, the Company pursued active sales activities, including expanding sales of its core CERAM series and developing new customers. However, sales declined year on year due to the continued low level of detached-house starts, among other factors, with net sales of ¥4,278 million, down ¥400 million year on year.」
The Company states that the low level of detached-house starts has continued and uncertainty is increasing, with this factor appearing in actual business performance as a cause of the year-on-year decline in sales. - FY2018-Q2MaterialisedAnnual report
「We pursued active sales activities, including expanding sales of our core CERAM series and developing new customers. However, sales declined year on year due in part to the continued low level of detached housing starts.」
The continued low level of detached-house starts appeared in actual business performance as a factor behind the decline in sales during the six-month period. - FY2018-Q1MaterialisedAnnual report
「In this industry as well, new housing starts and detached-house starts remain at low levels, creating an unstable situation. Regarding sales, the Company pursued active sales activities, including expanding sales of its core CERAM series and developing new customers. However, sales declined year on year due to the continued low level of detached-house starts, among other factors.」
New housing starts and detached-house starts remain low and the situation is unstable, with the low level of detached-house starts appearing in actual business performance as a factor behind the decline in sales during the quarter. - FY2017MaterialisedAnnual report
「Regarding sales, the Company pursued active sales activities, including expanding sales of its core CERAM series and developing new customers. However, sales declined year on year due to the continued low level of detached-house starts and a decline in solar-related sales, among other factors.」
The low level of detached-house starts is identified as one of the actual factors behind the decline in sales, indicating that the risk has affected business performance. - FY2017-Q3WorsenedAnnual report
「The number of new housing starts has remained firm year on year, owing to the impact of mortgage interest rates at historically low levels. However, the number of starts of detached houses remains low, and uncertainty is increasing.」
The Company states that overall new housing starts remain firm, while starts of detached houses remain at a low level and uncertainty is increasing. It also states that there have been no material changes in the section on business and other risks. - FY2017-Q2RestatedAnnual report
「During the six months ended June, 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 prior fiscal year.」
The Company states that there have been no material changes to the existing risks, including dependence on new housing starts, economic conditions and housing policies. - FY2017-Q1RestatedAnnual report
「During the three months ended March, 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 prior fiscal year.」
The Company states that there have been no material changes to the existing risks related to new housing starts and other factors. - FY2016First statedAnnual report
「Clay roof tiles are often used in large quantities when new homes are constructed. Their usage is affected by fluctuations in the number of new housing starts, while economic trends, changes in residential land prices, interest rate trends, government housing policies, taxation and the declining birthrate may also affect business performance.」
The Company states that economic conditions, residential land prices, interest rates, policies, taxation and the declining birthrate may affect business performance through their impact on new housing starts.