Fluctuations in real estate market conditions, interest rates and land prices
First written in FY2017. 3 of 9 entries say "Reframed", first in FY2017. Latest entry: FY2026-H1.
Revolution moved to the "Worse" side of this theme in 2023, 1 year after the typical company in this theme (2022).
The whole theme swung hardest in 2020: 30 of 70 companies on the "Worse" side.
46 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「In the real estate business, a principal business area of our Group, investment demand remained firm, particularly in central urban areas, despite changes in the interest rate environment. At the same time, the situation requires caution, including rises and persistently high levels in real estate prices due to soaring land prices and construction costs.」
While investment demand in central urban areas remains firm, the company continues to identify changes in the interest rate environment, soaring land prices and construction costs, and persistently high real estate prices as factors requiring caution. - FY2025-H1WorsenedAnnual report
「This remains a situation requiring caution, including rises and persistently high levels in real estate prices due to soaring land prices and construction costs.」
While describing investment sentiment in the real estate market as firm, the company identifies soaring land prices and construction costs and persistently high real estate prices as new factors requiring caution. - FY2024ReframedAnnual report
「Our core real estate and crowdfunding businesses are susceptible to economic trends, interest rate trends, land price trends, trends in new property supply, real estate selling price trends, housing tax policies and other factors. If conditions change, such as a deterioration in the economic outlook, changes in tax policy, a substantial rise in interest rates, a sharp decline in land prices, or an unprecedented natural disaster, real estate market conditions may deteriorate, in which case our operating results may be affected.」
In addition to the existing risks related to real estate market conditions, the company explicitly includes the crowdfunding business within the scope of the risks. - FY2023-Q1RestatedAnnual report
「As in the domestic economy, the outlook for the real estate and investment industries relevant to our Group remains uncertain.」
The company continues to describe uncertainty surrounding the outlook for the real estate and investment industries. It states that there have been no material changes in business and other risks. - FY2022WorsenedAnnual report
「As in the domestic economy, the outlook for the real estate and investment industries relevant to our Group remains uncertain due to the impact of sharp fluctuations in foreign exchange rates and other factors.」
In addition to the existing market condition and interest rate risks related to the real estate and investment industries, the company explicitly identifies the impact of sharp fluctuations in foreign exchange rates. - FY2022-Q2RestatedAnnual report
「The economic impact of the COVID-19 pandemic, conflicts and other events is also a concern in the real estate and investment industries relevant to our Group, and the outlook remains uncertain.」
The company continues to state that the real estate and investment industries may be affected economically by infectious diseases, conflicts and other events, and that the outlook remains uncertain. - FY2020ReframedAnnual report
「Our core real estate business is susceptible to economic trends, interest rate trends, land price trends, trends in new property supply, real estate selling price trends, housing tax policies and other factors. If conditions change, such as a deterioration in the economic outlook, changes in tax policy, a substantial rise in interest rates, a sharp decline in land prices, or an unprecedented natural disaster, purchasers' willingness to buy real estate may decline, in which case our operating results may be affected.」
In addition to the existing risks related to real estate market conditions, interest rates and land prices, the scope of the risks has expanded to include market volatility, including volatility in the stock market, reflecting the launch of the investment business. - FY2017ReframedAnnual report
「These changes in economic conditions may also cause fluctuations in the cost of acquiring land for business use and construction costs. If these costs rise, our business profits may be squeezed, affecting our operating results.」
In addition to the risk of lower demand resulting from economic conditions, interest rates, land prices, supply, selling prices, tax policy and natural disasters, the company explicitly identifies the risk of profit compression from higher land acquisition and construction costs. - FY2017First statedAnnual report
「Our core real estate development business is susceptible to economic trends, interest rate trends, land price trends, trends in new property supply, real estate selling price trends, housing tax policies and other factors. If conditions change, such as a deterioration in the economic outlook, changes in tax policy, a substantial rise in interest rates, a sharp decline in land prices, or an unprecedented natural disaster, purchasers' willingness to buy real estate may decline.」
The company lists separately the risk that its real estate development business may be affected by changes in economic conditions, interest rates, land prices, supply, selling prices, housing tax policy and natural disasters.