Changes in housing market conditions, interest rates, land prices and demographics
First written in FY2019. 10 of 24 entries say "Worsened", first in FY2023-Q1. Latest entry: 2026-11-13.
New Constructor's Network 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 2020: 45 of 64 companies on the "Worse" side.
16 other companies' latest entry also says "Restated".
- FY2026WorsenedAnnual report
「In the housing industry in which our Group operates, government data showed that nationwide new housing starts in fiscal 2025 (April 2025 to March 2026) totaled 711,171 units, down 12.9% from the previous fiscal year. Owner-occupied housing starts (detached custom-built homes) also totaled 195,111 units in fiscal 2025, down 12.6% from the previous fiscal year.」
In the housing market, both nationwide new housing starts and owner-occupied housing starts were below the previous fiscal year's level, and the deterioration in housing market conditions continued. - 2026-05-14WorsenedResults
「住宅業界におきましては、政府公表の新設住宅着工戸数は、2025年度（2025年４月～2026年３月）は71万1,171戸（前期比12.9％減）となりました。持家（戸建て注文住宅）の新設住宅着工戸数においても、2025年度は19万5,111戸（前期比12.6％減）となりました。」
全国の新設住宅着工戸数と持家の着工戸数がともに前期を下回った。 - FY2026-H1WorsenedAnnual report
「As a result, the review period for building confirmation applications was extended from the previous 7 days to 35 days. According to government data, owner-occupied housing starts (detached custom-built homes) remained well below the previous year's level, falling 23.7% year on year in April, 30.9% in May, 16.4% in June, 11.1% in July, 10.6% in August and 5.6% in September.」
The extension of the building confirmation application review period following the revision of the Building Standards Act and the fact that owner-occupied housing starts remained below the year-earlier level for 6 consecutive months were described. Weakness in the housing market continued. - FY2025MitigatedAnnual report
「Nationwide new housing starts in fiscal 2024 (April 2024 to March 2025) totaled 816,018 units, up 2.0% from the previous fiscal year, marking the first increase in 3 years. Owner-occupied housing starts (detached custom-built homes) also increased for the first time in 3 years, totaling 223,079 units in fiscal 2024, up 1.6% from the previous fiscal year.」
The housing starts market turned upward for the first time in 3 years both nationwide and for owner-occupied housing. Actual results indicating a recovery from the continuing deterioration in housing market conditions were described. - FY2025-H1WorsenedAnnual report
「Conditions in the housing industry remained weak. Owner-occupied housing starts (detached custom-built homes) fell 4.0% year on year in July, 6.6% in August and 0.9% in September, marking the 34th consecutive month of decline.」
Owner-occupied housing starts declined year on year from July through September, extending the period of decline to 34 consecutive months. The housing market's sluggishness continued to worsen and became more prolonged than in the previous period. - FY2024WorsenedAnnual report
「In the housing industry in which our Group operates, new housing starts continued to decline year on year as housing selling prices rose amid higher material costs. According to figures announced by the Ministry of Land, Infrastructure, Transport and Tourism, nationwide new housing starts in fiscal 2023 (April 2023 to March 2024) totaled 800,186 units, down 7.0% year on year. The decline in owner-occupied housing (detached custom-built homes) was particularly pronounced, with fiscal 2023 starts totaling 219,632 units, down 11.5% year on year.」
The housing market remained sluggish against a backdrop of higher housing prices, with new housing starts in fiscal 2023 down 7.0% year on year and owner-occupied housing starts down 11.5%. - FY2024-Q3WorsenedAnnual report
「In the housing industry, new housing starts remained negative as housing selling prices rose amid higher material costs. According to government data on new housing starts, owner-occupied housing starts (detached custom-built homes) fell 17.2% year on year in October, 17.3% in November and 13.8% in December, marking the 25th consecutive month of decline.」
Against a backdrop of higher housing selling prices resulting from increased material costs, owner-occupied housing starts declined year on year from October through December, extending the period of decline to 25 consecutive months. - FY2024-Q2WorsenedAnnual report
「In the housing industry, new housing starts remained at a low level amid soaring housing prices attributable to higher material costs and concerns over higher long-term interest rates. In particular, owner-occupied housing starts (detached custom-built homes) fell 7.8% year on year in July, 5.9% in August and 12.3% in September, marking the 22nd consecutive month of decline.」
Against a backdrop of soaring housing prices and concerns over higher long-term interest rates, owner-occupied housing starts declined year on year from July through September, extending the period of decline to 22 consecutive months. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the fiscal year under review, new housing starts fell 11.9% year on year in April 2023, rose 3.5% in May and fell 4.8% in June. Total starts for the 3-month period were approximately 10,000 units lower than the previous year. In particular, owner-occupied housing starts (detached custom-built homes) fell 11.6% year on year in April, 11.5% in May and 12.4% in June, marking the 19th consecutive month of decline.」
In the housing market, total new housing starts for the 3-month period declined by approximately 10,000 units from the previous year, while owner-occupied housing starts declined for the 19th consecutive month. The housing market's weakness was again demonstrated by the figures, following the previous quarter. - FY2023-Q3WorsenedAnnual report
「During the third quarter of the fiscal year under review, nationwide new housing starts announced by the Ministry of Land, Infrastructure, Transport and Tourism fell 1.8% year on year in October, 1.4% in November and 1.7% in December, remaining below the year-earlier level for 3 consecutive months. In particular, new owner-occupied housing starts (detached custom-built homes) fell 18.7% year on year in October, 15.1% in November and 13% in December, marking the 13th consecutive month of decline.」
New housing starts were below the year-earlier level for 3 consecutive months from October through December, while owner-occupied housing starts declined for 13 consecutive months. The housing market's deterioration continued from the previous quarter, with the extent of the decline in owner-occupied housing also specified. - FY2023-Q2MitigatedAnnual report
「During the second quarter of the fiscal year under review, new housing starts fell 5.4% year on year in July 2022, remaining below the year-earlier level for 3 consecutive months. From August, however, they turned upward year on year, rising 4.6% in August and 1.0% in September, marking 2 consecutive months of increase.」
New housing starts fell 5.4% year on year in July, marking the third consecutive month below the year-earlier level, but turned upward in August and September, rising 4.6% and 1.0%, respectively, indicating a partial recovery in the housing market's deterioration trend. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the fiscal year under review, new housing starts rose 2.4% year on year in April 2022, marking the 14th consecutive month of increase. From May, however, they turned downward year on year, falling 4.3% in May and 2.2% in June, and remained below the year-earlier level for 2 consecutive months.」
After 14 consecutive months of increase, housing starts turned down year on year in May and June 2022, indicating a reversal in the housing market's recovery trend. The figures were quantified and an actual market decline was described. The detailed section corresponds to quantified=true and materialized=true. - FY2022MitigatedAnnual report
「New housing starts in 2021 (January to December) totaled 856,000 units, up 5.0% year on year, marking the first increase in 5 years.」
The housing market recovered from the year-earlier decline, with new housing starts totaling 856,000 units in 2021, up 5.0% year on year. - FY2022-Q3MitigatedAnnual report
「During the third quarter of the fiscal year under review, new housing starts in the housing industry continued to exceed the previous year's level, rising 10.4% year on year in October, 3.7% in November and 4.2% in December.」
New housing starts exceeded the year-earlier level in each month from October through December 2021, and the housing market's recovery trend continued. - FY2022-Q2MitigatedAnnual report
「During the second quarter of the fiscal year under review, conditions in the housing industry in which our Group operates continued to be affected by the restraint on sales activities to help prevent the spread of COVID-19. However, new housing starts, which had remained below the previous year's level for 20 consecutive months since July 2019, turned upward year on year in March 2021 and remained above the previous year's level for seven consecutive months through September 2021, indicating signs of recovery.」
After 20 consecutive months below the year-earlier level, new housing starts exceeded the previous year's level for seven consecutive months from March 2021, and the housing market's recovery trend continued. - FY2022-Q1MitigatedAnnual report
「Although sales activities were being restrained to help prevent the spread of COVID-19, new housing starts had remained below the year-earlier level for 20 consecutive months since July 2019. However, they began to show signs of recovery, exceeding the year-earlier level for three consecutive months in April, May and June 2021, by 7.1%, 9.9% and 7.3%, respectively.」
After 20 consecutive months below the year-earlier level, new housing starts exceeded the previous year's level in each month from April through June 2021, indicating signs of recovery in the housing market. - FY2021MaterialisedAnnual report
「New housing starts in 2020 (January to December) totaled 815,000 units, down 9.92% year on year.」
The housing market remained sluggish, with new housing starts totaling 815,000 units in 2020, down 9.92% year on year. - FY2021-Q3MaterialisedAnnual report
「During the third quarter of the fiscal year under review, conditions in the housing industry in which our Group operates remained sluggish. New housing starts were down 8.3% year on year in October, 3.7% in November and 9.0% in December.」
The downturn in the housing market continued from the first and second quarters, with new housing starts below the year-earlier level in each month from October through December 2020. - FY2021-Q2MaterialisedAnnual report
「During the second quarter of the fiscal year under review, conditions in the housing industry in which our Group operates remained sluggish. New housing starts were down 11.3% year on year in July, 9.1% in August and 9.9% in September.」
The downturn in the housing market materialized for a second consecutive quarter, with new housing starts below the year-earlier level in each month from July through September 2020. - FY2021-Q1MaterialisedAnnual report
「During the first quarter of the fiscal year under review, conditions in the housing industry in which our Group operates remained sluggish. New housing starts were down 12.9% year on year in April, 12.3% in May and 12.8% in June.」
The downturn in the housing market materialized, with new housing starts below the year-earlier level in each month from April through June 2020. Revenue in the housing segment was also down 7.4% year on year. - FY2019First statedAnnual report
「A deterioration in the economic outlook, a substantial rise in interest rates, an increase in land prices or changes in housing tax systems and other conditions could reduce prospective homebuyers' willingness to purchase homes.」
The Company identified the potential impact of the economy, interest rates, land prices, housing tax systems, and declines in population and the number of households on housing demand and business performance.