Impact of economic conditions, interest rates and oversupply on purchasing appetite and profitability
First written in FY2016. 28 of 36 entries say "Restated". Latest entry: 2026-10-30.
Eslead moved to the "Worse" side of this theme in 2020, 2 years before the typical company in this theme (2022).
The whole theme swung hardest in 2020: 31 of 73 companies on the "Worse" side.
47 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period (1 April 2025 to 30 September 2025), the Japanese economy remained on a gradual recovery trend due to factors including improvements in employment and income conditions and high levels of corporate earnings, although conditions requiring close attention continued, including the prolonged depreciation of the yen and associated price increases, surging raw material prices resulting from heightened geopolitical risks, and US trade policy.」
The external environment is described as uncertain, with close attention required not only to the yen's depreciation, rising prices, geopolitical risks and surging raw material prices, but also to US trade policy. Meanwhile, the domestic economy is described as being on a gradual recovery trend. - FY2025RestatedAnnual report
「The group's core real estate sales business is susceptible to economic trends, interest-rate trends, trends in new property supply, real estate sales prices and housing tax policy. Accordingly, if conditions change, including a deterioration in the economic outlook, a substantial rise in interest rates or a decline in sales prices due to excess supply, buyers' willingness to purchase condominiums may decline, which could affect the group's operating results.」
The existing risk that changes in economic conditions, interest rates, supply, sales prices and housing tax policy could affect purchase appetite and operating results has been reaffirmed. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period (1 April 2024 to 30 September 2024), the Japanese economy remained on a gradual recovery trend due to factors including improvements in employment and income conditions and high levels of corporate earnings, although conditions requiring close attention continued, including the prolonged depreciation of the yen and associated price increases, and surging raw material prices resulting from heightened geopolitical risks.」
While describing uncertainty in the economic environment resulting from the yen's depreciation, rising prices, geopolitical risks and surging raw material prices, it also refers to improvements in employment and income conditions and the gradual recovery trend. - FY2024RestatedAnnual report
「The group's core real estate sales business is susceptible to economic trends, interest-rate trends, trends in new property supply, real estate sales prices and housing tax policy. Accordingly, if conditions change, including a deterioration in the economic outlook, a substantial rise in interest rates or a decline in sales prices due to excess supply, buyers' willingness to purchase condominiums may decline, which could affect the group's operating results.」
The existing risk that changes in economic conditions, interest rates, supply, sales prices and housing tax policy could affect purchase appetite and operating results has been reaffirmed. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter consolidated period (1 April 2023 to 31 December 2023), the Japanese economy was on a gradual recovery trend as socioeconomic activity normalized following the easing of various restrictions accompanying the reclassification of COVID-19 as a Class 5 infectious disease. Meanwhile, the outlook for the Japanese economy remains uncertain due to factors including the prolonged geopolitical risks surrounding the situation in Ukraine and sharp exchange-rate fluctuations.」
While noting the normalization of socioeconomic activity and the gradual recovery trend, uncertainty about the outlook continues due to the prolonged geopolitical risks surrounding the situation in Ukraine and sharp exchange-rate fluctuations. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter consolidated period (1 April 2023 to 30 September 2023), the Japanese economy was on a gradual recovery trend as socioeconomic activity normalized following the easing of various restrictions accompanying the reclassification of COVID-19 as a Class 5 infectious disease. Meanwhile, the outlook for the Japanese economy remains uncertain due to factors including the prolonged geopolitical risks surrounding the situation in Ukraine and the impact of the yen's rapid depreciation.」
While noting the normalization of socioeconomic activity and the gradual recovery trend, uncertainty about the outlook continues due to the prolonged geopolitical risks surrounding the situation in Ukraine and the yen's rapid depreciation. - FY2024-Q1RestatedAnnual report
「During the cumulative first quarter consolidated period (1 April 2023 to 30 June 2023), the Japanese economy was on a gradual recovery trend as socioeconomic activity normalized following the easing of various restrictions accompanying the reclassification of COVID-19 as a Class 5 infectious disease. Meanwhile, the outlook for the Japanese economy remains uncertain due to factors including the prolonged geopolitical risks surrounding the situation in Ukraine and sharp exchange-rate fluctuations.」
While noting the normalization of socioeconomic activity and the gradual recovery trend, uncertainty about the outlook continues due to the prolonged geopolitical risks surrounding the situation in Ukraine and sharp exchange-rate fluctuations. - FY2023-Q3RestatedAnnual report
「Meanwhile, the outlook for the Japanese economy remains uncertain due to factors including the prolonged geopolitical risks surrounding the situation in Ukraine and sharp exchange-rate fluctuations.」
Against a backdrop of prolonged geopolitical risks surrounding the situation in Ukraine and sharp exchange-rate fluctuations, uncertainty about the outlook for the domestic economy continues. - FY2023-Q2RestatedAnnual report
「Although concerns remain regarding the emergence of new variants, the country is gradually transitioning to living with COVID-19, as shown by the ongoing review of the comprehensive tracking of new infections. Meanwhile, the outlook for the Japanese economy remains uncertain due to factors including the prolonged geopolitical risks surrounding the situation in Ukraine and the yen's rapid depreciation.」
While noting the need to balance infection control with economic activity and the transition to living with COVID-19, uncertainty about the economic outlook continues due to new variants, the prolonged geopolitical risks surrounding the situation in Ukraine and the yen's sharp depreciation. - FY2023-Q1WorsenedAnnual report
「During the cumulative first quarter consolidated period (1 April 2022 to 30 June 2022), the Japanese economy remained on a recovery trend as the impact of COVID-19 on private consumption eased, despite the ongoing impact of the infection's spread. However, concerns including the emergence of new variants have become apparent, and there is still no clear prospect of the infection subsiding. In addition, the outlook for the Japanese economy remains uncertain due to the prolonged geopolitical risks surrounding the situation in Ukraine and the impact of the yen's rapid depreciation.」
In addition to the emergence of new variants, the prolonged geopolitical risks surrounding the situation in Ukraine and the yen's rapid depreciation are identified, adding factors contributing to uncertainty in the economic environment. - FY2022WorsenedAnnual report
「In addition, the situation involving Russia and Ukraine is having a serious impact on the global economy, and the outlook for the Japanese economy remains uncertain.」
In addition to COVID-19, the serious impact of the situation involving Russia and Ukraine on the global economy is identified as a new external-environment factor. - FY2022-Q3WorsenedAnnual report
「During the cumulative third quarter consolidated period (1 April 2021 to 31 December 2021), the Japanese economy remained in a difficult situation, with economic activity constrained by the impact of the spread of COVID-19. Although the impact of the infection gradually eased as COVID-19 vaccinations progressed, concerns emerged, including the appearance of the new Omicron variant, and uncertainty about the outlook continued.」
Amid continuing constraints on economic activity and uncertainty about the outlook, the appearance of the Omicron variant is identified as a new concern, adding uncertainty to the external economic environment. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter consolidated period (1 April 2021 to 30 September 2021), the Japanese economy remained in a difficult situation, with economic activity constrained by the impact of the spread of COVID-19. Although the impact of the infection gradually eased as COVID-19 vaccinations progressed, uncertainty about the outlook continued.」
While noting that the impact of the infection is gradually easing as vaccinations progress, the company reaffirms its view that constraints on economic activity and uncertainty about the outlook continue. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter consolidated period (1 April 2021 to 30 June 2021), the Japanese economy remained in a difficult situation, with economic activity constrained by the impact of the spread of COVID-19. Although positive factors such as the wider rollout of COVID-19 vaccinations emerged, there was still no clear prospect of the infection subsiding, and uncertainty about the outlook continued.」
While economic activity continues to be constrained by COVID-19, the company also notes the positive factor of wider vaccination coverage and reaffirms its view that the outlook remains uncertain because there is still no clear prospect of the infection subsiding. - FY2021-Q3WorsenedAnnual report
「During the cumulative third quarter consolidated period (1 April 2020 to 31 December 2020), the Japanese economy stagnated as economic activity was curtailed, including by the Japanese government's declaration of a state of emergency in April in response to the spread of COVID-19. Following the lifting of the declaration, however, signs of a recovery emerged in private consumption and production. However, the rapid resurgence of infections from November onward meant that the outlook for economic conditions and the economy in Japan and overseas remained uncertain.」
While noting the recovery in private consumption and production, it states that uncertainty over the outlook for economic conditions and the economy in Japan and overseas continues due to the rapid resurgence of infections from November onward, indicating heightened external-environment risk. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter consolidated period (1 April 2020 to 30 September 2020), the Japanese economy stagnated as economic activity was curtailed, including by the Japanese government's declaration of a state of emergency in response to the spread of COVID-19. Following the lifting of the declaration, however, signs of a recovery emerged in private consumption and production. Nevertheless, the risk of a resurgence of the infection could not be eliminated, and the outlook for economic conditions and the economy in Japan and overseas remained uncertain.」
While noting the recovery in private consumption and production after the state of emergency, the risk of a resurgence of the infection and uncertainty over the outlook for economic conditions and the economy in Japan and overseas continue. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the fiscal year ended 30 June 2020 (1 April 2020 to 30 June 2020), Japan's economy stagnated as the Japanese government declared a state of emergency in response to the spread of COVID-19, prompting people nationwide to refrain from going out and traveling. Even after the declaration was lifted, the economic outlook remained uncertain due to concerns about the impact of a second and third wave of infections.」
Economic activity has in fact stagnated due to COVID-19, and concerns about second and third waves remain even after the state of emergency was lifted, increasing uncertainty about economic conditions and the economy. - FY2020WorsenedAnnual report
「During the fiscal year, Japan's economy continued on a gradual recovery trend against the backdrop of steady improvements in the employment and income environment due to policies implemented by the Bank of Japan and the government. However, from the second half onward, in addition to a decline in private consumption following the consumption tax increase, economic activity stagnated both in Japan and overseas due to the spread of COVID-19, making the economic outlook even more uncertain.」
The decline in private consumption due to the consumption tax increase and the stagnation of economic activity in Japan and overseas due to COVID-19 are noted, indicating heightened uncertainty about the economic outlook. - FY2020-Q3RestatedAnnual report
「During the first 3 quarters of the fiscal year ended 31 March 2020 (1 April 2019 to 31 December 2019), Japan's economy continued on a gradual recovery trend against the backdrop of steady improvements in the employment and income environment due to policies implemented by the Bank of Japan and the government. However, the economic outlook remained uncertain, as sentiment deteriorated in some areas due to the impact of the consumption tax increase and the slowdown in overseas economies.」
While improvements in the employment and income environment and a gradual recovery trend are noted, uncertainty about the economic and business outlook has been reconfirmed due to the consumption tax increase, the slowdown in overseas economies and deterioration in sentiment in some areas. - FY2020-Q2RestatedAnnual report
「During the first 2 quarters of the fiscal year ended 30 September 2019 (1 April 2019 to 30 September 2019), Japan's economy continued on a gradual recovery trend against the backdrop of steady improvements in the employment and income environment due to policies implemented by the Bank of Japan and the government. However, the economic outlook remained uncertain, as sentiment deteriorated in some areas due to the impact of the consumption tax increase and the slowdown in overseas economies.」
While improvements in the employment and income environment and a gradual recovery trend are noted, uncertainty about the economic and business outlook has been reconfirmed due to the consumption tax increase, the slowdown in overseas economies and deterioration in sentiment in some areas. - FY2020-Q1RestatedAnnual report
「During the first quarter of the fiscal year ended 30 June 2019 (1 April 2019 to 30 June 2019), Japan's economy continued on a gradual recovery trend as domestic demand, including private consumption and capital investment, recovered due to policies implemented by the Bank of Japan and the government. However, the economic outlook remained uncertain due to the impending increase in the consumption tax rate and concerns about overseas economies, including prolonged US-China trade friction.」
While the recovery in domestic demand is noted, uncertainty about the economic and business outlook has been reconfirmed due to the consumption tax increase and the prolonged US-China trade friction. - FY2019RestatedAnnual report
「However, the economic outlook remained uncertain due to concerns about overseas economies, including the prolonged US-China trade friction, as well as the impending increase in the consumption tax rate.」
Uncertainty about the economic outlook has been reconfirmed against the backdrop of the consumption tax increase, prolonged US-China trade friction and concerns about overseas economies. - FY2019-Q3RestatedAnnual report
「However, in addition to developments in the Bank of Japan's monetary policy, concerns about overseas economies, including intensifying US-China trade friction and the UK's issue of leaving the European Union, remained, and the economic outlook remained uncertain.」
Uncertainty about the economic outlook continues against the backdrop of monetary policy, US-China trade friction and the UK's issue of leaving the European Union. - FY2019-Q2RestatedAnnual report
「However, in addition to developments in the Bank of Japan's monetary policy, concerns about overseas economies, including the impact of US-China trade friction, remained, and the economic outlook remained uncertain.」
Uncertainty about the economic outlook continues against the backdrop of monetary policy and concerns about overseas economies, including US-China trade friction. - FY2019-Q1RestatedAnnual report
「However, in addition to developments in the Bank of Japan's monetary policy, overseas economic conditions, including uncertainty over policies in Europe and the US and geopolitical risks, were unstable, and the economic outlook remained uncertain.」
Uncertainty about the economic outlook continues against the backdrop of monetary policy, uncertainty over policies in Europe and the US, geopolitical risks and instability in overseas economies. - FY2018RestatedAnnual report
「Our Group's core real estate sales business is susceptible to economic trends, interest rate trends, trends in new property supply, real estate selling price trends and housing tax policies. Accordingly, if conditions change, such as a deterioration in the economic outlook, a substantial rise in interest rates or a decline in selling prices due to excess supply, purchasers' appetite for buying condominiums may decline, potentially affecting our Group's operating results.」
The previously identified risk remains that changes in economic conditions, interest rates, supply, selling prices and housing tax policies may affect buying appetite and operating results. - FY2018-Q3RestatedAnnual report
「During the first 3 quarters of the fiscal year ended 31 March 2018 (1 April 2017 to 31 December 2017), Japan's economy entered a gradual recovery trend as the employment and income environment continued to improve due to the Bank of Japan's monetary easing policy and the government's economic policies. However, in addition to developments in the Bank of Japan's monetary policy, overseas economic conditions, including uncertainty over policies in Europe and the US and geopolitical risks, were unstable, and the economic outlook remained uncertain.」
While improvements in the employment and income environment and a gradual recovery trend are noted, uncertainty about the economic outlook continues against the backdrop of monetary policy, uncertainty over policies in Europe and the US, and geopolitical risks. - FY2018-Q2RestatedAnnual report
「However, in addition to developments in the Bank of Japan's monetary policy, overseas economic conditions, including geopolitical risks, were unstable, and the economic outlook remained uncertain.」
Uncertainty about the economic outlook continues against the backdrop of monetary policy, overseas economies and geopolitical risks. - FY2018-Q1RestatedAnnual report
「However, economic conditions remain uncertain due to developments in overseas economies, including US economic policy and its impact on international financial markets, geopolitical risks and developments in the Bank of Japan's monetary policy.」
Uncertainty about the economic outlook continues against the backdrop of overseas economies, international financial markets, geopolitical risks and monetary policy developments. - FY2017RestatedAnnual report
「Our Group's core real estate sales business is susceptible to economic trends, interest rate trends, trends in new property supply, real estate selling price trends and housing tax policies. Accordingly, if conditions change, such as a deterioration in the economic outlook, a substantial rise in interest rates or a decline in selling prices due to excess supply, purchasers' appetite for buying condominiums may decline, potentially affecting our Group's operating results.」
The previously identified risk remains that changes in economic conditions, interest rates, supply, selling prices and housing tax policies may affect buying appetite and operating results. - FY2017-Q3RestatedAnnual report
「Emerging economies showed signs of recovery, partly due to higher crude oil prices. However, global economic conditions remained uncertain due to uncertainty surrounding the impact of the birth of a new US administration, and the situation in Japan also remained unpredictable.」
It is stated that uncertainty about the global economic outlook continues against the backdrop of signs of recovery in emerging economies and uncertainty arising from the birth of a new US administration. - FY2017-Q2WorsenedAnnual report
「Investment demand from high-net-worth individuals in Japan and overseas began to stabilize, but condominium selling prices remained high because land and construction costs remained elevated. Although mortgage rates remained at historical lows due to monetary easing, providing support for home purchases, wages have not risen enough to increase purchasing power. First-time buyers in particular have become cautious about purchasing condominiums, and excess inventory has begun to emerge overall.」
The stabilization of investment demand from high-net-worth individuals, increased caution among first-time buyers, and the emergence of excess inventory are noted, indicating heightened risks in the sales environment and from excess supply. - FY2017-Q1RestatedAnnual report
「During the first quarter of the fiscal year ended 30 June 2016 (1 April 2016 to 30 June 2016), Japan's economy showed gradual improvements in corporate earnings and the employment and income environment due to the Bank of Japan's monetary policy and the government's growth strategy. However, global economic conditions remained uncertain because of the slowdown in emerging economies, particularly China, and the UK's issue of leaving the European Union, and the situation in Japan also remained unpredictable.」
It is stated that uncertainty about the economic outlook remains, citing the slowdown in emerging economies and the UK's issue of leaving the European Union. - FY2016First statedAnnual report
「Our Group's core real estate sales business is susceptible to economic trends, interest rate trends, trends in new property supply, real estate selling price trends and housing tax policies. Accordingly, if conditions change, such as a deterioration in the economic outlook, a substantial rise in interest rates or a decline in selling prices due to excess supply, purchasers' appetite for buying condominiums may decline, potentially affecting our Group's operating results.」
It is stated that the real estate sales business is affected by economic conditions, interest rates, supply, selling prices and housing tax policies, potentially causing fluctuations in buying appetite and operating results.