Risks of Cost Overruns, Delays and Cancellation in the Nihombashi Kabutocho and Kayabacho Redevelopment
First written in FY2017. 13 of 17 entries say "Restated". Latest entry: FY2024-Q2.
Heiwa Real Estate moved to the "Worse" side of this theme in 2020, 6 years before the typical company in this theme (2026).
The whole theme swung hardest in 2020: 2 of 10 companies on the "Worse" side.
10 other companies' latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is stated that there are no new risks or material changes in the risks of cost overruns, delays, cancellation and other issues relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2024-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative first quarter. In addition, there were no material changes to the securities report for the previous fiscal year.」
It is stated that there are no new risks or material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2023RaisedAnnual report
「The Group engages in real estate development, including the Nihonbashi Kabutocho-Kayabacho and Sapporo redevelopments. When existing buildings are demolished or otherwise removed, extraordinary losses may arise from tenant relocation costs, losses on the disposal of buildings and other factors.」
The scope of risks related to cost overruns, delays and declines in revenue associated with redevelopment was explicitly expanded from Nihonbashi Kabutocho-Kayabacho to include the Sapporo redevelopment. - FY2023-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended [the current third quarter]. There have also been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no newly arising risks or material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no newly arising risks or material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no newly arising risks or material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2022WorsenedAnnual report
「In real estate development, we formulate and pursue planned business strategies. However, unforeseen circumstances may cause land prices, construction costs and other expenses to rise, delays in approval and licensing procedures for development, prolonged periods for reaching agreement among stakeholders, defects in construction work and other factors, or delays in attracting tenants due to deteriorating office market conditions. This may result in unanticipated costs, project delays or cancellation, and a decline in rental income.」
In addition to the existing redevelopment risks related to rising costs, approvals and licensing, construction and tenant recruitment, the prolonged time required to reach agreement among stakeholders and declines in rental income during development were explicitly identified. - FY2022-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended [the current third quarter]. There have also been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there are no new risks or material changes in the risks of cost overruns, delays, cancellation and other issues relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of cost overruns, delays, cancellation and other issues relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2020WorsenedAnnual report
「In real estate development, including the Nihonbashi Kabutocho-Kayabacho redevelopment, there are risks of construction delays due to infections occurring at construction sites and changes in the timing when rent begins to accrue due to delays in the move-in dates of new tenants.」
In addition to the existing redevelopment risks related to cost overruns, approvals and licensing, construction and tenant recruitment, delays in construction schedules and changes in the date when rent begins to accrue due to COVID-19 were added. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended [the current third quarter]. There have also been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2018-Q3RestatedAnnual report
「There have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2018-Q2RestatedAnnual report
「There have been no material changes to the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes in the risks of cost overruns, delays or cancellation relating to the Nihonbashi Kabutocho-Kayabacho redevelopment. - FY2017First statedAnnual report
「Unanticipated costs may arise, or a project may be delayed or cancelled, due to increases in land prices, construction costs and other expenses, delays in approval and licensing procedures for development, defects in construction work and other factors, or delays in attracting tenants caused by deterioration in office market conditions. As a result, the Group's performance may be affected.」
The redevelopment risks are specifically listed, including rising land and construction costs, delays in approvals and licensing, construction and tenant recruitment, and project cancellation.