Changes in building regulations, housing-related taxation, consumption tax and mortgage interest rates
First written in FY2016. 30 of 32 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2020: 41 of 60 companies on the "Worse" side.
14 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「If private-sector capital investment or new housing starts decline in the future due to trends in economic conditions, taxation, interest rates, real estate market conditions and other factors, or if public works by the national or local governments are reduced, the resulting decline in construction demand and other factors may affect the operating performance and financial position of the Group.」
The company is reaffirming the risks to operating performance from fluctuations in economic conditions, taxation, interest rates, real estate market conditions, housing starts and public works. - FY2026-H1WorsenedAnnual report
「Residential investment continued to decline, owing to the mandatory application of energy-efficiency standards and longer review periods resulting from the scaling back of the Article 4 exemption.」
As specific changes in housing-related regulations, the mandatory application of energy-efficiency standards and longer review periods resulting from the scaling back of the Article 4 exemption are cited as factors behind the decline in residential investment, giving concrete form to the previously general risks associated with fluctuations in regulations, taxation and other factors. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no material changes in the occurrence of major risks that management recognizes as potentially having a material impact on the financial position, operating results or cash flows of the consolidated companies, among the matters relating to the business conditions, financial position and other matters described in this interim report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2024RestatedAnnual report
「If private-sector capital investment or new housing starts decline in the future due to trends in economic conditions, taxation, interest rates, real estate market conditions and other factors, or if public works by the national or local governments are reduced, the resulting decline in construction demand and other factors may affect the operating performance and financial position of the Group.」
The company is reaffirming the risks to operating performance from fluctuations in economic conditions, taxation, interest rates, real estate market conditions, housing starts and public works. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2024-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2023RestatedAnnual report
「If private-sector capital investment or new housing starts decline in the future due to trends in economic conditions, taxation, interest rates, real estate market conditions and other factors, or if public works by the national or local governments are reduced, the resulting decline in construction demand and other factors may affect the operating performance and financial position of the Group.」
The company is reaffirming the risks associated with fluctuations in economic conditions, taxation, interest rates, real estate market conditions, housing starts and public works. - FY2023-Q3RestatedAnnual report
「During the nine-month period of the current consolidated fiscal year, there were no occurrences of the principal risks that management recognised as potentially having a material impact on the financial condition, operating results or cash flows of the consolidated companies, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year, among the matters relating to the business and accounting conditions described in the quarterly report.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2023-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2022RestatedAnnual report
「If private-sector capital investment or new housing starts decline in the future due to trends in economic conditions, taxation, interest rates, real estate market conditions and other factors, or if public works by the national or local governments are reduced, the resulting decline in construction demand and other factors may affect the operating performance and financial position of the Group.」
The company is reaffirming the risks to operating performance from fluctuations in economic conditions, taxation, interest rates, real estate market conditions, housing starts and public works. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the major risks, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2021RestatedAnnual report
「If private-sector capital investment or new housing starts decline in the future due to trends in economic conditions, taxation, interest rates, real estate market conditions and other factors, or if public works by the national or local governments are reduced, the resulting decline in construction demand and other factors may affect the operating performance and financial position of the Group.」
The company is reaffirming the risks to operating performance from fluctuations in economic conditions, taxation, interest rates, real estate market conditions, housing starts and public works. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks associated with fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2021-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the risks associated with fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2020RestatedAnnual report
「If private-sector capital investment or new housing starts decline in the future due to trends in economic conditions, taxation, interest rates, real estate market conditions and other factors, or if public works by the national or local governments are reduced, the resulting decline in construction demand and other factors may affect the operating performance and financial position of the Group.」
The company is reaffirming the risks to operating performance from fluctuations in economic conditions, taxation, interest rates, real estate market conditions, housing starts and public works. - FY2020-Q3RestatedAnnual report
「During the nine-month period ended 31 December, there were no occurrences of matters that could have a material impact on investors' decisions among the matters concerning the business and accounting conditions described in the quarterly securities report, nor were there any material changes to the section on "Business and Other Risks" in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks associated with fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2020-Q2RestatedAnnual report
「During the six-month period ended in the second quarter, there were no material changes in the matters concerning the business and accounting conditions described in this quarterly securities report that could materially affect investors' decisions, nor in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks associated with fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no new matters among those relating to the business and accounting conditions described in this quarterly securities report that could materially affect investors' decisions, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks identified in the previous fiscal year, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2019-Q3RestatedAnnual report
「During the nine-month period ended 31 December, there were no occurrences of matters that could have a material impact on investors' decisions among the matters concerning the business and accounting conditions described in the quarterly securities report, nor were there any material changes to the section on "Business and Other Risks" in the securities report for the previous fiscal year.」
The company states that there were no material changes to the business and other risks identified in the previous fiscal year, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2019-Q2RestatedAnnual report
「During the six-month period ended in the second quarter, there were no material changes in the matters concerning the business and accounting conditions described in this quarterly securities report that could materially affect investors' decisions, nor in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks identified in the previous fiscal year, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no new matters among those relating to the business and accounting conditions described in this quarterly securities report that could materially affect investors' decisions, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks associated with fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2018RestatedAnnual report
「If private-sector capital investment or new housing starts decline in the future due to trends in the economy, tax policy, interest rates or real estate market conditions, or if national or local governments reduce public works, the resulting decline in construction demand could affect our group's operating performance and financial condition.」
The company is reaffirming the risks to operating performance from fluctuations in economic conditions, taxation, interest rates, real estate market conditions, housing starts and public works. - FY2018-Q3RestatedAnnual report
「During the nine-month period ended 31 December, there were no occurrences of matters that could have a material impact on investors' decisions among the matters concerning the business and accounting conditions described in the quarterly securities report, nor were there any material changes to the section on "Business and Other Risks" in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks associated with fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2018-Q2RestatedAnnual report
「During the six-month period ended in the second quarter, there were no material changes in the matters concerning the business and accounting conditions described in this quarterly securities report that could materially affect investors' decisions, nor in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks associated with fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no new matters among those relating to the business and accounting conditions described in this quarterly securities report that could materially affect investors' decisions, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks identified in the previous fiscal year, including fluctuations in building regulations, housing-related taxation, consumption tax and mortgage interest rates. - FY2017RestatedAnnual report
「Our group's business is conducted mainly in areas related to construction work and related activities, and is affected by trends in private capital investment, housing starts, and public works in Japan.」
The company is reaffirming the risks to its business from fluctuations in construction demand, taxation, interest rates, real estate market conditions and other factors. - FY2017-Q3RestatedAnnual report
「During the nine-month period ended 31 December, there were no occurrences of matters that could have a material impact on investors' decisions among the matters concerning the business and accounting conditions described in the quarterly securities report, nor were there any material changes to the section on "Business and Other Risks" in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks identified in the previous fiscal year, including fluctuations in taxation, consumption tax and mortgage interest rates. - FY2017-Q2RestatedAnnual report
「During the six-month period ended in the second quarter, there were no material changes in the matters concerning the business and accounting conditions described in this quarterly securities report that could materially affect investors' decisions, nor in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks identified in the previous fiscal year, including fluctuations in taxation, consumption tax and mortgage interest rates. - FY2017-Q1RestatedAnnual report
「Although demand that had been expected to be brought forward ahead of the consumption tax increase was postponed, new housing starts showed signs of recovery as mortgage interest rates remained low.」
The company has again described the relationship between consumption tax and mortgage interest rates and housing demand. - FY2016First statedAnnual report
「In addition, developments in housing-related and land taxation, an increase in the consumption tax rate, and fluctuations in mortgage interest rates may cause market conditions to change unexpectedly, creating a risk of a significant impact on operating performance, including through fluctuations in sales.」
The company recognizes the impact of changes in regulations, taxation and interest rates on the housing market and operating performance as risks.