Sales Risks Arising from Real Estate Market Conditions and Interest Rate Trends
First written in FY2016. 18 of 25 entries say "Restated". Latest entry: FY2026.
Cosmos Initia moved to the "Worse" side of this theme in 2021, 2 years before the typical company in this theme (2023).
The whole theme swung hardest in 2020: 30 of 70 companies on the "Worse" side.
26 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「• Risk that market conditions deteriorate and demand for real estate declines due to trends in the economy, interest rates, land prices and new supply • Risk that real estate selling prices decline due to weaker consumer willingness to purchase homes in the housing sales business and higher expected yields on income-producing real estate in the income-producing real estate sales business」
The existing real estate market and interest rate risks were systematized as key risks encompassing willingness to purchase homes, expected yields on income-producing real estate, and impairment and valuation losses on assets held and real estate held for sale. - 2026-05-12WorsenedEarnings presentation
「At properties in suburban areas, the impact on purchasing power from rising mortgage interest rates is beginning to emerge.」
A statement was added indicating that the impact of rising mortgage rates on purchasing power is beginning to emerge as a sales risk arising from real estate market and interest-rate trends. - FY2025RestatedAnnual report
「Examples include, in the residential business, a decline in customers' willingness to purchase homes due to a significant rise in interest rates and, in the solutions business, higher vacancy rates and an increase in expected yields due to a significant rise in interest rates.」
Real estate market risks arising from higher interest rates, weaker willingness to purchase homes, higher vacancy rates and higher expected yields continue to be disclosed. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that there have been no new occurrences or material changes in the sales risks arising from real estate market conditions and interest rate trends. - FY2024RestatedAnnual report
「Since 2024, it has been necessary to monitor the decline in willingness to purchase homes against a backdrop of rising interest rates and prices, as well as cost trends arising from higher material and labor costs.」
Risks relating to real estate market conditions, including lower willingness to purchase homes due to rising interest rates and prices and higher material and labor costs, continue to be identified in the annual disclosure. - FY2024-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes in the sales risks arising from real estate market conditions and interest rate trends. - FY2024-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes in the sales risks arising from real estate market conditions and interest rate trends. - FY2023WorsenedAnnual report
「Since 2023, it has been necessary to monitor the risk of deterioration in condominium market conditions due to weaker demand for home purchases against a backdrop of rising interest rates and stagnant economic sentiment, as well as trends in material prices.」
In addition to weaker demand for home purchases, rising interest rates and material prices, the Company specified higher vacancy rates and expected yields in the solutions business and the re-emergence of infectious diseases in the accommodation business as business-specific risks. - FY2022WorsenedAnnual report
「Since 2022, it has been necessary to monitor the risk of deterioration in condominium market conditions, including declining willingness to purchase homes if the effects of COVID-19 on the economic environment, including interest rates and employment, become prolonged, as well as trends in material prices.」
In addition to the existing economic, interest rate and real estate market risks, the Company explicitly identified prolonged infectious disease effects, the employment environment and material prices as factors requiring monitoring. - FY2022-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes in the sales risks arising from real estate market conditions and interest rate trends. - FY2021WorsenedAnnual report
「Examples include, in the residential business, a decline in customers' willingness to purchase due to a significant rise in interest rates and a decline in selling prices due to a large volume of new supply; in the solutions business, a rise in vacancy rates and an increase in expected yields due to a significant rise in interest rates; and in the accommodation business, the spread of COVID-19.」
In addition to the existing real estate market risks, the Company specifically describes segment-specific risks, including higher vacancy rates, higher expected yields and the impact of infectious diseases on accommodation demand, broadening the scope of the risks. - FY2021-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2021-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2020-Q3RestatedAnnual report
「During the nine-month period ended [the current third quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2020-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2019RestatedAnnual report
「If economic conditions change, such as through an economic downturn, a significant rise in interest rates or a decline in selling prices due to a large volume of new supply, customers' willingness to purchase may decline, which could affect the Group's business performance. Changes in the economic conditions described above may also cause fluctuations in the acquisition price of business land. If the acquisition of business land does not proceed as planned, this could affect the Group's business performance.」
Risks relating to real estate market conditions, interest rates, land prices, supply and taxation, as well as business land acquisition prices and delays in acquisitions, continue to be disclosed. - FY2018Addition of risks relating to the acquisition of business landAnnual report
「Changes in the economic conditions described above may also cause fluctuations in the acquisition price of business land. If the acquisition of business land does not proceed as planned, this could affect the Group's business performance.」
In addition to the existing sales risks arising from market conditions, interest rates and land prices, the Company explicitly identified risks relating to fluctuations in business land acquisition prices and delays in acquisitions. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, 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 states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2018-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2018-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2017RestatedAnnual report
「The real estate business is susceptible to the effects of economic trends, interest rate trends, land price trends, new supply trends and taxation relating to real estate. If economic conditions change, such as through an economic downturn, a significant rise in interest rates or a decline in selling prices due to a large volume of new supply, customers' willingness to purchase may decline, which could affect the Group's business performance.」
Sales risks arising from real estate market conditions, interest rates, land prices, supply and taxation continue to be disclosed as key annual risks. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, 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 states that there have been no new occurrences or material changes relating to sales risks arising from real estate market conditions and interest rate trends. - FY2017-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company explicitly states that there have been no material changes in the sales risks arising from real estate market conditions and interest rate trends. - FY2017-Q1RestatedAnnual report
「During the three-month period ended [the current first quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The Company explicitly states that there have been no material changes in the sales risks arising from real estate market conditions and interest rate trends. - FY2016First statedAnnual report
「The Group's principal business, real estate sales, is susceptible to the effects of economic trends, interest rate trends, land price trends, new supply trends and taxation relating to real estate. If economic conditions change, such as through an economic downturn, a significant rise in interest rates or a decline in selling prices due to a large volume of new supply, customers' willingness to purchase may decline, which could affect the Group's business performance.」
The risk that the principal business is affected by external factors such as economic conditions, interest rates, land prices, supply and taxation is disclosed.