Value Erosion and Rising Interest Rate Risks in Real Estate Development and Fund Investments
First written in FY2022. 3 of 5 entries say "Restated". Latest entry: FY2024-Q3.
4 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「During the cumulative third-quarter consolidated period, there were no new business or other risks, nor any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company stated that there had been no material changes regarding the risk of value erosion in real estate development and fund investments and the risk of rising interest rates. - FY2023ReframedAnnual report
「The development process for adding value to commercial real estate such as stores carries risks of delivery delays caused by supply and demand for construction materials and higher construction unit costs. In the sales process after value enhancement, weak market conditions for income-producing real estate, including deteriorating financial conditions, may lead to sluggish sales, falling selling prices, and inventory valuation losses, potentially affecting business results and financial position.」
The company organised the value-erosion and rising-interest-rate risks associated with real estate funds as risks covering the entire development and sales process, including material delivery times, construction unit costs, selling prices, and inventory valuation losses. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter consolidated period, there were no new business or other risks, nor any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company stated that there had been no material changes regarding the risk of value erosion in real estate development and fund investments and the risk of rising interest rates. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, there were no new business or other risks, nor any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company stated that there had been no material changes regarding the risk of value erosion in real estate development and fund investments and the risk of rising interest rates. - FY2022First statedAnnual report
「In its store management business, the company invests in real estate and in real estate funds formed and managed by the Group. Rental business revenue may decline because of deterioration in rental market conditions or the economy, while impairment of the value of investment assets may result in valuation losses or impairment losses, or in losses on the sale of the relevant real estate.」
In response to the expansion of real estate investments and private funds, the company specified the risks of revenue declines caused by weaker rents or economic conditions, impairment of investment value, valuation losses, impairment losses, and losses on sale. It also indicated elsewhere the risk of higher funding costs due to rising interest rates and falling real estate prices.