Dependence on Trends in New Housing Starts
First written in FY2016. 21 of 41 entries say "Restated". Latest entry: 2026-10-23.
Mirai Industry moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 36 of 51 companies on the "Worse" side.
12 other companies' latest entry also says "Mitigated".
- FY2026WorsenedAnnual report
「Following the revision of the Building Standards Act that took effect on 1 April 2025, energy-efficiency compliance became mandatory for all buildings, among other changes. New housing starts are trending downward due to stricter design and building confirmation applications and higher costs.」
The company provides greater detail on the downward trend in new housing starts against a backdrop of stricter design and building confirmation applications and higher costs resulting from the revision of the Building Standards Act. As a measure in response, it continues to develop new products for the non-residential sector and cultivate new markets. - 2026-04-23WorsenedEarnings
「The number of new housing starts has continued to decline sharply because of higher costs resulting from inflation and the reaction following the rush in housing starts last year ahead of the revision to the Building Standards Act, which took effect in April 2025.」
New housing starts continue to decline sharply, reflecting the reaction following the rush in housing starts. - FY2026-H1WorsenedAnnual report
「In the construction industry related to our Group's businesses, new housing starts have continued to decline substantially due to a reaction following a rush of starts before the revision of the Building Standards Act that took effect in April.」
The company states that substantial declines in new housing starts have continued as a reaction following the increase caused by a rush of starts at the end of the previous fiscal year. - FY2025RestatedAnnual report
「New housing starts had remained weak, with owner-occupied and detached for-sale housing starts continuing to decline due to declining willingness to purchase homes amid higher prices. However, they turned upward at the end of the fiscal year due to a rush of starts before the revision of the Building Standards Act.」
While weakness caused by declines in owner-occupied and detached for-sale housing starts continued, the company states that housing starts turned upward at the end of the fiscal year due to a rush of starts before the legal revision. - FY2025-H1RestatedAnnual report
「In the construction industry related to our Group's businesses, new housing starts remained weak, with owner-occupied and detached for-sale housing starts continuing to decline due to declining willingness to purchase homes amid higher prices.」
The company continues to describe weak housing starts, with declines in owner-occupied and detached for-sale housing continuing against a backdrop of declining willingness to purchase homes due to higher prices. - FY2025-Q1WorsenedAnnual report
「In the construction industry related to our Group's businesses, new housing starts remained weak, with owner-occupied and detached for-sale housing starts continuing to decline due to declining willingness to purchase homes amid higher prices.」
The company continues to describe declining willingness to purchase homes since the previous fiscal year and weak new housing starts due to continued declines in owner-occupied and detached for-sale housing starts. - FY2024WorsenedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. However, new housing starts remained weak, particularly owner-occupied and for-sale housing, due to declining willingness to purchase homes amid higher prices and other factors.」
The recognition has changed from the previous fiscal year's view that conditions remained firm despite some weakness to one that new housing starts were weak, particularly owner-occupied and for-sale housing, against a backdrop of declining willingness to purchase homes due to higher prices. - FY2024-Q3WorsenedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. However, new housing starts remained weak, particularly owner-occupied and detached for-sale housing, due to declining willingness to purchase homes amid higher prices and surging construction material costs.」
The description has become more specific, changing from the previous quarter's view that new housing starts were weak mainly in for-sale housing to one that they remained weak, particularly in owner-occupied and detached for-sale housing, against a backdrop of declining willingness to purchase homes due to higher prices and surging construction material costs. - FY2024-Q2WorsenedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. However, new housing starts remained weak, particularly for-sale housing starts.」
The recognition has changed from the previous quarter's view that conditions remained firm despite some weakness to one that new housing starts remained weak, particularly for-sale housing starts. - FY2024-Q1RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although some weakness was evident in new housing starts, they remained firm overall.」
The recognition that new housing starts remained firm overall despite some weakness continues as part of the business environment. - FY2023RestatedAnnual report
「Both the electrical materials and piping materials businesses and the wiring devices business, which are our Group's principal businesses, depend heavily on the residential construction industry. In particular, fluctuations in new housing starts may affect the performance of these businesses.」
The Group continues to describe its dependence on the residential construction industry, particularly new housing starts, as a structural risk affecting its principal businesses. - FY2023-Q3RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although some weakness was evident in new housing starts, they remained firm overall.」
The recognition that new housing starts remained firm overall despite some weakness continues, and the business environment of dependence on the residential construction industry remains unchanged. - FY2023-Q2RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although some weakness was evident in new housing starts, they remained firm overall.」
The recognition that new housing starts remained firm overall despite some weakness continues. - FY2023-Q1WorsenedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although some weakness was evident in new housing starts, they remained firm overall.」
Compared with the previous fiscal year's description of an upward trend led by owner-occupied and rental housing, the company adds the recognition that some weakness was evident. However, it states that conditions remained firm overall. - FY2022Response through market development outside the residential sector explicitly statedAnnual report
「As a response to this risk, the company is working to expand sales channels by developing new products for sectors outside the residential construction industry, such as buildings and factories, and opening up new markets for existing products.」
As a measure to address dependence on new housing starts, the company explicitly identifies the development of new products and markets in the non-residential sector. - FY2022-Q3RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued, and new housing starts trended upward year on year, led mainly by owner-occupied and rental housing.」
As in the previous quarter, the company states that new housing starts were on an upward trend, led mainly by owner-occupied and rental housing, against a backdrop of measures supporting home purchases and low interest rates. - FY2022-Q2RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued, and new housing starts trended upward year on year, led mainly by owner-occupied and rental housing.」
As in the previous quarter, the company states that new housing starts were on an upward trend, led mainly by owner-occupied and rental housing, against a backdrop of measures supporting home purchases and low interest rates. - FY2022-Q1MitigatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued, and new housing starts trended upward year on year, led mainly by owner-occupied and rental housing.」
The company states that new housing starts turned from the declines and difficult conditions seen through the previous fiscal year to an upward trend, led mainly by owner-occupied and rental housing. - FY2021-Q3RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. However, order-taking activities were temporarily affected by COVID-19, and uncertainty over the outlook also affected the market. New housing starts declined substantially for owner-occupied housing, rental housing and detached for-sale homes, remaining in difficult conditions.」
While measures supporting home purchases and low interest rates continued, the impact on order-taking activities and uncertainty over the outlook remained, and difficult conditions continued, with substantial declines in owner-occupied housing, rental housing and detached for-sale housing starts. - FY2021-Q2WorsenedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. However, amid uncertainty over the outlook for employment and income conditions, new housing starts declined substantially for owner-occupied housing, rental housing and detached for-sale homes, remaining in difficult conditions.」
In addition to the downward trend through the previous quarter, owner-occupied housing, rental housing and detached for-sale homes declined substantially, indicating that the housing starts market was in difficult conditions. - FY2021-Q1WorsenedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. However, new housing starts remained weak, with a substantial decline in owner-occupied housing starts further deepening the downward trend seen through the end of the previous fiscal year.」
The company states that the downward trend in new housing starts through the end of the previous fiscal year deepened further, with a substantial decline in owner-occupied housing starts. - FY2020WorsenedAnnual report
「Although government measures supporting home purchases and low mortgage interest rates continued, new housing starts were on a downward trend and a full-scale recovery was difficult to expect. Competition among companies was extremely fierce, and difficult business conditions are expected to continue.」
In addition to the downward trend in new housing starts, the company indicates that a full-scale recovery is difficult to expect and describes the business environment related to dependence on the residential construction industry in more severe terms. - FY2020-Q3RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although owner-occupied and detached for-sale housing starts remained firm, the decline in rental housing starts resulted in a downward trend in total housing starts.」
While measures supporting home purchases and low interest rates continued, firm owner-occupied and detached for-sale housing starts coexisted with a decline in rental housing starts, and the recognition that total housing starts were on a downward trend continues. - FY2020-Q2RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although owner-occupied housing starts increased, the number of rental housing and condominium starts declined, resulting in a downward trend.」
Increases in owner-occupied housing starts and declines in rental housing and condominium starts coexisted, and the recognition that new housing starts were on a downward trend continues. There have been no new material changes in the business-environment risk arising from dependence on the residential construction industry. - FY2020-Q1WorsenedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. New housing starts had remained broadly flat through the end of the previous fiscal year, but after the beginning of the current fiscal year they turned downward and remained weak.」
The recognition has changed from housing starts remaining broadly flat through the end of the previous fiscal year to a view that new housing starts turned downward after the beginning of the current fiscal year and remained weak. - FY2019RestatedAnnual report
「Both the electrical materials and piping materials businesses and the wiring devices business, which are our Group's principal businesses, depend heavily on the residential construction industry. In particular, fluctuations in new housing starts may affect the performance of these businesses.」
The Group continues to describe its dependence on the residential construction industry, particularly new housing starts, as a structural risk affecting its principal businesses. - FY2019-Q3RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although for-sale housing starts increased, rental housing starts declined, leaving housing starts broadly flat.」
While measures supporting home purchases and low interest rates continued, increases in for-sale housing starts and declines in rental housing starts coexisted, and the recognition that housing starts remained broadly flat continues. - FY2019-Q2RestatedAnnual report
「In the residential construction industry related to our Group's businesses, government measures supporting home purchases and low mortgage interest rates continued. Although starts of detached for-sale homes increased, starts of rental housing and condominiums in the Tokyo metropolitan area declined, leaving housing starts broadly flat.」
While starts of detached for-sale homes increased against a backdrop of measures supporting home purchases and low interest rates, declines in rental housing and condominiums in the Tokyo metropolitan area meant that housing starts remained broadly flat. This recognition continues. - FY2019-Q1RestatedAnnual report
「In the residential construction industry related to our Group's businesses, the number of new housing starts remained broadly flat, as starts of for-sale homes increased while starts of owner-occupied and rental homes declined, despite continuing government measures supporting home purchases and low mortgage interest rates.」
Increases in for-sale housing starts and declines in owner-occupied and rental housing starts coexisted, and housing starts were described as remaining broadly flat for the second consecutive year. Dependence on the residential construction industry as part of the business environment continues. - FY2018WorsenedAnnual report
「New housing starts had remained firm due to government measures supporting home purchases and low mortgage interest rates, but from around the middle of the fiscal year they remained weak, with the number continuing to fall below the corresponding months of the previous year.」
The recognition has changed from firm new housing starts in the previous fiscal year and at the quarterly stage to a view that they weakened from around the middle of the fiscal year, with starts continuing to fall below the corresponding months of the previous year. - FY2018-Q3RestatedAnnual report
「In the residential construction industry related to our Group's businesses, new housing starts remained firm, supported by government measures supporting home purchases and low mortgage interest rates.」
The recognition that new housing starts remained firm, supported by measures supporting home purchases and low interest rates, is reiterated. - FY2018-Q2RestatedAnnual report
「In the residential construction industry related to our Group's businesses, new housing starts remained firm, supported by government measures supporting home purchases and low mortgage interest rates.」
The recognition that new housing starts remained firm, supported by measures supporting home purchases and low interest rates, is reiterated. - FY2018-Q1MitigatedAnnual report
「In the residential construction industry related to our Group's businesses, new housing starts remained firm, supported by government measures supporting home purchases and low mortgage interest rates.」
Compared with the uncertainty over the outlook due to rising mortgage interest rates and other factors noted in the previous fiscal year, the company states that new housing starts remained firm in the current quarter, supported by measures supporting home purchases and low interest rates. - FY2017WorsenedAnnual report
「With the outlook for new housing starts uncertain, including because mortgage interest rates have begun rising again, competition among companies is extremely fierce, and difficult business conditions are expected to continue.」
The description has changed from the previous view that housing starts were recovering and remained firm to one indicating uncertainty over the outlook for new housing starts due to rising mortgage interest rates and other factors. - FY2017-Q3RestatedAnnual report
「In the residential construction industry related to our Group's businesses, new housing starts showed signs of recovery, partly due to government measures supporting home purchases and the Bank of Japan's negative interest rate policy, as well as other moves toward lower interest rates.」
The residential construction industry and trends in new housing starts continue to be described as part of the business environment. The company states that there have been no material changes in business and other risks. - FY2017-Q2RestatedAnnual report
「In the residential construction industry related to our Group's businesses, new housing starts showed signs of recovery, partly due to government measures supporting home purchases and the Bank of Japan's negative interest rate policy, as well as other moves toward lower interest rates.」
The residential construction industry and trends in new housing starts continue to be described as part of the business environment. The company states that there have been no material changes in business and other risks. - FY2017-Q1RestatedAnnual report
「In the residential construction industry related to our Group's businesses, new housing starts showed signs of recovery, partly due to government measures supporting home purchases and the Bank of Japan's negative interest rate policy, as well as other moves toward lower interest rates.」
The residential construction industry and trends in new housing starts continue to be described as part of the business environment. The company states that there have been no material changes in business and other risks. - FY2016First statedAnnual report
「Both the electrical materials and piping materials businesses and the wiring devices business, which are our Group's principal businesses, depend heavily on the residential construction industry. In particular, fluctuations in new housing starts may affect the performance of these businesses.」
The Group describes its dependence on the residential construction industry, particularly new housing starts, as a structural risk affecting its 2 principal businesses.