Risk of accidents and increased costs associated with the design, construction and repairs of older properties
First written in FY2023. 3 of 4 entries say "Restated". Latest entry: FY2025.
No other company in this theme has enough history to compare yet.
- FY2025RestatedAnnual report
「Nevertheless, the possibility that defects or the need for repairs due to deterioration may arise in properties designed and constructed by the Company cannot be ruled out. Additional construction costs required for remedial work and damages arising from serious defects could affect the Company's business performance. In addition, if a serious accident involving a person or a completed structure were to occur and the Company's credibility were significantly damaged through the payment of damages or otherwise, this could affect the Company's business performance.」
In addition to structural and seismic issues associated with the design and construction of older properties, the Company continues to identify the risks of costs and damages arising from post-construction defects, repairs, defects and accidents. - FY2024RestatedAnnual report
「Most of the buildings acquired are older buildings that have undergone significant deterioration. They therefore need to be renovated into spaces that maintain safety and legal compliance, align with the Company's brand image and increase asset value. Although the Company conducts sufficient due diligence before entering into property contracts, structural or seismic issues may arise during construction, and serious accidents may occur.」
The Company continues to identify structural and seismic issues involving older buildings, higher construction costs, construction delays and accidents as risks. - FY2024-Q1RestatedAnnual report
「The Company believes that many building owners are reconsidering the seismic resilience of older buildings in the wake of events such as the Noto Peninsula Earthquake in January 2024.」
The Company indicates that more building owners are reconsidering the seismic resilience of older buildings following the Noto Peninsula Earthquake, and continues to address structural and seismic issues relating to older properties. - FY2023First statedAnnual report
「Most of the buildings acquired are older buildings that have undergone significant deterioration. They therefore need to be renovated into spaces that maintain safety and legal compliance, align with the Company's brand image and increase asset value. Structural or seismic issues may arise during construction, and serious accidents may occur.」
Structural and seismic issues specific to older buildings, higher construction costs, construction delays, accidents, defects and repair costs are identified as business risks.