Demand fluctuations driven by economic conditions, the real estate market, interest rates and housing tax policy
First written in FY2017. 8 of 16 entries say "Restated". Latest entry: FY2026-H1.
Amg Holdings moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 36 of 52 companies on the "Worse" side.
21 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「During the current interim consolidated accounting period, Japan's economy remained on a gradual recovery trend as employment and income conditions improved, but inflation exceeding those improvements affected consumer sentiment, and private consumption remained weak.」
It states that rising prices have affected consumer sentiment and that private consumption has remained weak. It also indicates concerns over rising land prices, construction costs and mortgage rates affecting the cost of acquiring a home. - FY2025-H1WorsenedAnnual report
「In the real estate industry, selling prices have risen with the soaring costs of project sites and construction, while rising prices and a gradual increase in home loan interest rates have reduced willingness to purchase real estate, and difficult conditions continue.」
In connection with the conventional demand fluctuation risk, it states that purchasing appetite for real estate has declined as a result of rising prices and a gradual increase in mortgage rates. - FY2024RestatedAnnual report
「To minimize the impact on sales even under these difficult conditions, we do not pursue the number of units when acquiring land, but develop projects only from carefully selected sites, while the Group as a whole works to maintain an appropriate level of inventory and manage the number of days inventory is held.」
It continues to describe carefully selected land acquisitions and management of inventory levels and days held as measures to address demand fluctuations, price declines and inventory increases. - FY2024-Q3RestatedAnnual report
「In the real estate industry, stable housing demand has continued since the COVID-19 pandemic, and the real estate market has remained firm. However, soaring construction costs and the possibility of higher home loan interest rates are concerns for future housing demand, and difficult conditions continue.」
While describing housing demand and the real estate market as firm, it continues to state the risk of demand fluctuations arising from higher construction costs and the possibility of higher mortgage rates. - FY2024-Q1RestatedAnnual report
「In the real estate industry, stable housing demand has continued since the COVID-19 pandemic and the real estate market has remained firm, but rising construction costs and the possibility of higher interest rates are concerns for future housing demand.」
While describing housing demand and the real estate market as firm, it continues to state the conventional demand fluctuation risk that rising construction costs and the possibility of higher interest rates may be concerns for housing demand. - FY2023MitigatedAnnual report
「To minimize the impact on sales even under these difficult conditions, we do not pursue the number of units when acquiring land, but develop projects only from carefully selected sites, while the Group as a whole works to maintain an appropriate level of inventory and manage the number of days inventory is held.」
As measures to address demand, pricing and inventory risks, it explicitly describes carefully selected land acquisitions without pursuing unit volume, as well as Group-wide management of inventory levels and days held. - FY2023-Q2RestatedAnnual report
「In addition, factors such as the continued implementation of infection-control measures related to COVID-19, the situation in Ukraine, utility costs and prices associated with the weaker yen, and concerns over rising interest rates may affect consumer sentiment.」
Continues to state that COVID-19, the situation in Ukraine, utility costs and prices associated with the weaker yen, and concerns over rising interest rates may affect consumer sentiment. - FY2023-Q1WorsenedAnnual report
「In addition, factors such as the continued implementation of infection-control measures related to COVID-19, the situation in Ukraine, utility costs and prices associated with the weaker yen, and concerns over rising interest rates may affect consumer sentiment.」
In addition to the conventional factors affecting demand, it specifically states that utility costs and prices associated with the weaker yen and concerns over rising interest rates may affect consumer sentiment. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, there were no significant changes in the matters described in the quarterly report concerning business conditions and financial information that could materially affect investors’ decisions, or in the business risks described in the securities report for the previous fiscal year.」
States that there have been no material changes in the risk of demand fluctuations arising from economic conditions, the real estate market, interest rates and housing tax policy. - FY2022-Q1WorsenedAnnual report
「Regarding our sales environment, competition has intensified in our main sales areas of Ichinomiya, Aichi Prefecture, and Gifu, Gifu Prefecture, where competing companies are supplying many new condominiums for sale and selling prices have also risen sharply.」
The company states that competition has intensified in its main sales areas because competing companies are supplying many new condominiums for sale, against a backdrop of sharply higher selling prices. - FY2021-Q1RestatedAnnual report
「During the cumulative first-quarter consolidated period, there were no material changes in matters described in this quarterly report concerning the status of the business, financial information and other matters that could materially affect investors' decisions, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of demand fluctuations caused by the economy, real estate market conditions, interest rates and housing tax policies. - FY2020MitigatedAnnual report
「Even under these challenging conditions, we are developing projects only on carefully selected land, without pursuing the number of units acquired, in order to minimize the impact on sales.」
To address the risks of demand fluctuations, higher material and land prices, lower prices and increased inventories, the company describes a policy of developing projects only on carefully selected land rather than pursuing the number of units. - FY2020-Q3RestatedAnnual report
「During the cumulative third-quarter consolidated period, there were no material changes in matters described in this quarterly report concerning the status of the business, financial information and other matters that could materially affect investors' decisions, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of demand fluctuations caused by the economy, real estate market conditions, interest rates and housing tax policies. - FY2019WorsenedAnnual report
「If purchase prices for construction materials, land and other items fluctuate and construction and land costs rise, or if intensified sales competition and other factors cause the supply-demand balance to deteriorate, prices may fall or inventories may increase. In such cases, our group's operating results and financial position may be affected, including through lower profit margins.」
In addition to the previously described risk of demand fluctuations, the company identifies higher material and land prices, intensified sales competition, lower prices, increased inventories and lower profit margins as specific potential impacts. - FY2018RestatedAnnual report
「The condominium development and custom-built construction businesses, which are our group's principal businesses, tend to be affected by buyer demand. Because buyer demand is affected by economic trends, real estate market conditions, interest rate trends for home loans and changes in housing tax policies, these factors may affect our operating results and financial position.」
The company continues to describe the risk of demand fluctuations caused by the economy, real estate market conditions, home loan interest rates and housing tax policies. - FY2017First statedAnnual report
「The condominium development and custom-built construction businesses, which are our group's principal businesses, tend to be affected by buyer demand. Because buyer demand is affected by economic trends, real estate market conditions, interest rate trends for home loans and changes in housing tax policies, these factors may affect our operating results and financial position.」
The company systematically describes for the first time the risk that demand for its condominium development and custom-built construction businesses may be affected by the economy, real estate market conditions, home loan interest rates and changes in housing tax policies.