Risk of a decline in housing starts
First written in FY2016. 18 of 37 entries say "Worsened", first in FY2018. Latest entry: 2026-11-11.
Nankai Plywood 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 2023: 18 of 26 companies on the "Worse" side.
3 other companies' latest entry also says "Other".
- 2026-11-11OtherResults
「当中間連結会計期間の新設住宅着工戸数は前年同期比で11.3％増加いたしましたが、これは前年同期が建築基準法改正に伴う駆け込み需要の反動により歴史的な水準まで減少していたことによる影響が大きく、市場環境としては引き続き厳しい状況で推移いたしました。」
着工戸数は前年同期比で増加したが、前年の反動による面が大きく、市場環境は引き続き厳しいとの説明に変化した。 - FY2026WorsenedAnnual report
「Starts of owner-occupied and detached subdivision housing, the company's core businesses, fell 12.6% year on year from April 2025 to March 2026 and remained at an extremely difficult level, while the operating environment is becoming increasingly challenging.」
Starts of owner-occupied and detached subdivision housing fell 12.6% year on year, with the contraction of the housing market materialising at an even more severe level. - FY2026-H1WorsenedAnnual report
「In the housing-related industry, willingness to purchase homes has continued to decline due to soaring home prices resulting from higher construction-material prices and logistics costs, as well as the upward trend in mortgage interest rates. In addition, the prolonged impact of the反動 from rush demand following the April implementation of revisions to the Building Standards Act and energy-conservation standards contributed to a 16% year-on-year decline in owner-occupied housing starts during the interim consolidated accounting period, and the market environment remained difficult.」
In addition to lower willingness to purchase homes due to higher home prices and interest rates, the反動 following revisions to the Building Standards Act and energy-conservation standards continued for an extended period, and owner-occupied housing starts fell 16% year on year. - FY2025-H1WorsenedAnnual report
「In the housing-related industry, the market environment remained difficult due to persistently high home prices resulting from higher construction-material and logistics costs and the impact of declining willingness to purchase homes amid concerns over increases in mortgage interest rates. In particular, starts of owner-occupied and detached subdivision housing fell sharply year on year.」
Starts of owner-occupied and detached subdivision housing fell sharply due to persistently high home prices and logistics costs and concerns over increases in mortgage interest rates. - FY2024WorsenedAnnual report
「New housing starts from January 2023 to December 2023 fell 4.6% year on year to 819,623 units, while owner-occupied housing starts, the company's core business, fell 11.4% year on year to 224,352 units.」
New housing starts totalled 819,623 units and owner-occupied housing starts 224,352 units, down 4.6% and 11.4% year on year, respectively. The figures also indicate lower willingness to purchase homes due to high prices and concerns over rising mortgage interest rates. - FY2024-Q3RestatedAnnual report
「In the housing-related industry, willingness to purchase homes has declined against a backdrop of rising home construction prices, and new housing starts continued to fall sharply year on year.」
New housing starts continued to decline sharply against a backdrop of higher home construction prices and lower willingness to purchase homes. - FY2024-Q2WorsenedAnnual report
「In the housing-related industry, willingness to purchase homes declined against a backdrop of continued increases in not only home construction prices but also overall prices, and new housing starts fell sharply year on year.」
Lower willingness to purchase homes due to higher home construction prices and inflation, together with a sharp year-on-year decline in new housing starts, has actually materialised. - FY2024-Q1WorsenedAnnual report
「In the housing-related industry, home construction prices have been rising due to higher construction-material, housing-equipment and logistics costs, and both owner-occupied housing and detached subdivision housing among new housing starts declined year on year. In addition, rising home prices and sharp inflation have gradually dampened consumer sentiment toward home purchases, raising concerns about their impact on the operating environment going forward.」
The rise in home prices due to higher construction-material and logistics costs, the decline in starts of owner-occupied and detached subdivision housing, and concerns over weakening consumer sentiment were highlighted. - FY2023WorsenedAnnual report
「New housing starts from January 2022 to December 2022 totalled 859,529 units, up 0.4% year on year, while owner-occupied housing starts themselves fell sharply to 253,287 units, down 11.3% year on year.」
While total housing starts edged up, owner-occupied housing starts, which are central to the business, fell 11.3%, also indicating concerns over declining willingness to purchase homes. - FY2023-Q3WorsenedAnnual report
「However, concerns over declining willingness to purchase homes have continued, as higher raw-material costs resulting from rising global resource prices and the rapid depreciation of the yen have increased costs across construction materials, leading to higher home prices, among other effects.」
While home-purchase support measures supported demand, concerns over higher home prices and lower willingness to purchase homes due to rising resource and raw-material prices and higher construction-material costs caused by the weaker yen continue. - FY2023-Q2WorsenedAnnual report
「However, concerns over declining willingness to purchase homes have continued, as higher raw-material costs resulting from rising global resource prices and the rapid depreciation of the yen have increased costs across construction materials, leading to higher home prices, among other effects.」
While home-purchase support measures supported demand, concerns were raised that rising resource and raw-material prices and higher construction-material costs caused by the weaker yen would lead to higher home prices and lower willingness to purchase homes. - FY2023-Q1WorsenedAnnual report
「However, concerns over declining willingness to purchase homes have continued, as higher raw-material and transportation costs resulting from rising global resource prices have increased costs across construction materials, leading to higher home prices and delivery delays, among other effects.」
While home-purchase support measures and working from home supported demand, concerns were raised that higher material and transportation costs, rising home prices and delivery delays would reduce willingness to purchase homes. - FY2022MitigatedAnnual report
「New housing starts continued to recover and increased 6.6% year on year.」
New housing starts increased 6.6% year on year against a backdrop of willingness to purchase homes and changing needs for the residential environment associated with working from home, indicating a trend that mitigates the risk of decline in the housing market. - FY2022-Q3MitigatedAnnual report
「In the housing-related industry, new housing starts have continued to recover, particularly for owner-occupied housing, due to low mortgage interest rates, rush demand ahead of the expiration of the contractual deadline for mortgage tax deductions, and changes in needs for the residential environment associated with the spread of working from home during the pandemic.」
New housing starts continued to recover, as did owner-occupied housing, against a backdrop of rush demand ahead of the expiration of the contractual deadline for mortgage tax deductions and changes in needs for the residential environment associated with working from home. - FY2022-Q2MitigatedAnnual report
「In the housing-related industry, new housing starts have continued to recover due to the implementation of home-purchase support measures such as the extension of mortgage tax deductions and the Green Points Housing Program, as well as changes in needs for the residential environment associated with the spread of working from home during the pandemic. The recovery trend was particularly pronounced for owner-occupied housing.」
New housing starts continued to recover against a backdrop of home-purchase support measures and changes in needs for the residential environment associated with working from home, with the recovery in owner-occupied housing particularly pronounced. - FY2022-Q1MitigatedAnnual report
「New housing starts showed signs of a modest recovery, as tax deductions on mortgages were extended, home-purchase support measures such as the Green Points Housing Program continued, and needs for the residential environment changed with the spread of working from home.」
New housing starts were described as showing signs of a modest recovery against a backdrop of continuing home-purchase support measures and changing needs for the residential environment. - FY2021MaterialisedAnnual report
「New housing starts fell 8.1% year on year, marking a decline for the second consecutive year, due to factors including supply-chain problems involving components sourced from overseas, restrictions on sales activities across the industry following the declaration of a state of emergency, and the temporary closure of housing exhibition centres and showrooms amid the spread of COVID-19.」
New housing starts fell 8.1% year on year, indicating that the contraction of the housing market had materialised against a backdrop of the pandemic and supply-chain problems, among other factors. - FY2021-Q3RestatedAnnual report
「In the housing-related industry, total new housing starts remained low due to the decline in demand following the consumption-tax increase, as well as the deterioration in business confidence associated with the spread of COVID-19.」
Total new housing starts remained low due to the decline in demand following the consumption-tax increase and the deterioration in business confidence caused by the pandemic. - FY2021-Q2WorsenedAnnual report
「Mortgage interest rates have remained low and various home-purchase support measures by the government and other parties have continued. However, conditions remained difficult, with new housing starts continuing to post substantial year-on-year declines amid growing uncertainty over the outlook for employment and income due to the spread of COVID-19.」
While low interest rates and home-purchase support measures continued, new housing starts continued to fall sharply year on year amid uncertainty over employment and income caused by the pandemic, indicating worsening risks in the housing market. - FY2021-Q1WorsenedAnnual report
「In the housing-related industry, mortgage interest rates have remained low and various home-purchase support measures by the government and other parties have continued. However, new housing starts remained weak due to restrictions on going out and economic and social activity as part of measures to prevent the spread of COVID-19, among other factors.」
While low interest rates and home-purchase support measures continued, housing starts weakened due to restrictions on going out and economic activity associated with the spread of COVID-19. - FY2020WorsenedAnnual report
「New housing starts fell sharply, down 7.3% from the previous fiscal year.」
While low interest rates and home-purchase support measures continued, new housing starts fell 7.3% year on year, indicating that the risk of declining housing starts had materialised as an actual contraction in the market. - FY2020-Q3WorsenedAnnual report
「In the housing-related industry, the supportive effects of low mortgage rates and ongoing government measures to support home purchases have weakened, and new housing starts for both owner-occupied and rental housing remained weak compared with the same period of the previous year.」
The supportive effects of mortgages and home-purchase support measures weakened, and new housing starts for both owner-occupied and rental housing were weak year on year. - FY2020-Q2WorsenedAnnual report
「Mortgage interest rates have remained low, and various government measures to support home purchases have continued. In addition, rush demand appears to have been limited compared with previous consumption-tax increases, and new housing starts remained weak.」
Although low interest rates and home-purchase support measures provided some support, rush demand was limited, and new housing starts changed from the previous quarter's description of firm conditions to a weak trend. - FY2020-Q1MitigatedAnnual report
「Mortgage interest rates have remained low, and new housing starts remained firm, partly because the upward trend in owner-occupied housing continued under the effect of various ongoing government measures to support home purchases.」
Against a backdrop of low interest rates, home-purchase support measures and an increase in owner-occupied housing, new housing starts remained firm, indicating a market environment that mitigates the risk of a decline. - FY2019RestatedAnnual report
「If the economic situation deteriorates due to a recession and the number of new housing starts declines substantially, the Group’s operating results and financial position may be affected.」
The risk that a sharp decline in new housing starts will affect business performance and financial condition continues to be disclosed. - FY2019-Q3MitigatedAnnual report
「In the housing-related industry, in addition to support from low mortgage rates and continued government measures to support home purchases, the effects of front-loaded demand ahead of the consumption tax increase became apparent, and new housing starts remained solid despite showing a declining trend.」
In addition to low interest rates and home-purchase support measures, front-loaded demand ahead of the consumption tax increase became apparent, and the Company states that new housing starts remained solid despite showing a declining trend. - FY2019-Q2RestatedAnnual report
「In the housing-related industry, support from low mortgage rates and continued government measures to support home purchases was available, but since the second half of last year, the number of new housing starts has continued to decline gradually year on year, particularly for owner-occupied and rental housing.」
While low interest rates and home-purchase support measures provided support, the Company states that new housing starts continued to decline gradually, particularly for owner-occupied and rental housing. - FY2018WorsenedAnnual report
「The number of new housing starts remained weak due to declines mainly in condominiums and rental housing.」
The description changed from solid performance or signs of recovery to stating that new housing starts remained weak, particularly for condominiums and rental housing. - FY2018-Q3RestatedAnnual report
「Housing demand remained solid, although it showed some weakness, as interest in home purchases continued.」
Housing demand was described as remaining solid despite some weakness. - FY2018-Q1RestatedAnnual report
「Interest in home purchases remained resilient due to continued low mortgage rates and the effects of various government support measures for home purchases. Demand for rental housing construction, particularly in urban areas, also provided support, and the number of new housing starts remained solid.」
Against a backdrop of low interest rates, home-purchase support measures and rental housing demand, new housing starts remained solid, and the description continues to cite a market environment mitigating the risk of decline. - FY2017RestatedAnnual report
「The number of new housing starts remained solid as interest in home purchases increased due to lower mortgage rates and additional government support measures for home purchases.」
New housing starts were described as remaining solid, with the market environment continuing to mitigate the risk of decline. - FY2017-Q3MitigatedAnnual report
「The number of new housing starts remained solid as interest in home purchases increased due to lower interest rates and expanded government support measures for home purchases.」
New housing starts remained solid, and the market environment continued to mitigate the risk of decline in the housing market. - FY2017-Q2MitigatedAnnual report
「The number of new housing starts remained solid as interest in home purchases increased due to lower interest rates and expanded government support measures for home purchases.」
The number of new housing starts was described as having shifted from a recovery trend to solid performance, with the market environment continuing to mitigate the risk of decline. - FY2017-Q1MitigatedAnnual report
「The number of new housing starts showed signs of recovery as interest in home purchases increased due to lower interest rates and expanded government support measures for home purchases.」
Regarding the risk of declining housing starts, the market environment during the quarter was described as showing signs of recovery. - FY2016First statedAnnual report
「If the economic situation deteriorates due to a recession and the number of new housing starts declines substantially, the Group’s operating results and financial position may be affected.」
Identifies dependence on housing starts as a major risk to operating results.