Risk of Rising Land Prices, Construction Materials and Labor Costs
First written in FY2016. 17 of 25 entries say "Restated". Latest entry: FY2026.
Mirarth Holdings moved to the "Worse" side of this theme in 2022, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 12 of 16 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Our Group's core business, the newly built for-sale condominium business, is relatively highly exposed to market changes resulting from various external factors, including surging construction and labor costs, longer construction periods, and the risk of rising interest rates.」
Surging construction and labor costs, longer construction periods, and rising interest rates continued to be identified and specified as the main external risks affecting the core business. - 2026-05-20WorsenedFinancial results presentation
「In response to changes in the environment, including higher construction costs and interest rates, we will secure profitability through area selection while also diversifying exit strategies and improving asset turnover through digital transformation, thereby building a growth model with high capital efficiency.」
Higher construction costs and interest rates were identified as strategic challenges, with area selection, diversified exits and improved asset turnover presented as responses. - FY2026-H1RestatedAnnual report
「Operations have progressed in line with the full-year plan, which assumes higher selling prices resulting from surging costs and an increase in the number of units resulting from the growth in jointly developed properties.」
Higher selling prices resulting from surging costs continued to be identified as an assumption underlying the sales plan for the current fiscal year. No significant changes were identified in business and other risks. - FY2024WorsenedAnnual report
「Although selling prices for newly built for-sale condominiums have risen due to higher raw material costs and other factors, strong purchasing appetite among end-users remains intact.」
Higher selling prices resulting from rising raw material costs were identified as part of the actual business environment, indicating that supply-side cost inflation risks remain ongoing. - FY2024-Q3RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
Existing risks related to supply-side costs and construction capacity, including land acquisition prices, subcontracting prices, subcontractor failures, and financial conditions, were reiterated. - FY2023WorsenedAnnual report
「The business environment surrounding our Group is undergoing rapid change due to various factors, including the declining birth rate and ageing population, depopulation in regional cities, surging construction costs, and an uncertain outlook for interest rates.」
The company explicitly identified surging construction costs and an uncertain outlook for interest rates as factors affecting the business environment, indicating that risks related to supply-side costs and interest rates remain ongoing. - FY2023-Q3WorsenedAnnual report
「In the real estate industry in which our Group operates, robust housing demand has continued despite a trend toward higher construction costs resulting from recent increases in energy and raw material prices. The asset-securitisation business and other businesses have also remained strong, including the core for-sale condominium business, supported by strong investment appetite among domestic and overseas investors.」
The company explained that construction costs were trending higher as a result of surging energy and raw material prices, indicating that risks related to increases in land, material, and construction costs were ongoing and expanding. - FY2023-Q2WorsenedAnnual report
「During the first six months of the current fiscal year, the Japanese economy remained in an uncertain and challenging situation, as the impact of the COVID-19 pandemic on the domestic economy continued, while the prolonged geopolitical tensions associated with Russia's invasion of Ukraine and the effects of the rapid depreciation of the yen against the US dollar in the foreign exchange market also weighed on the economic outlook.」
In addition to the previously disclosed geopolitical tensions and their impact on material prices, the company explicitly addressed the impact of the rapid depreciation of the yen against the US dollar and explained that the external environment remained uncertain and challenging. - FY2023-Q1WorsenedAnnual report
「The prices of various materials have been affected by rapidly intensifying volatility in financial markets and rising geopolitical tensions resulting from Russia's invasion of Ukraine, among other factors, and the outlook for the global economy as a whole remains uncertain.」
The company explained that financial market volatility and geopolitical tensions associated with Russia's invasion of Ukraine had affected the prices of various materials. It also stated in the business and other risks section that there had been no significant changes to the risks disclosed in the previous fiscal year. - FY2022-Q3RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
Existing risks related to supply-side costs and construction capacity, including land acquisition prices, subcontracting prices, subcontractor failures, and financial conditions, were reiterated. - FY2020RestatedAnnual report
「Newly built for-sale condominiums, our Group's core business, tend to have supply trends affected by fluctuations in land acquisition prices, subcontracting prices, financial conditions, and other factors.」
Risks related to supply-side costs and construction capacity, including land acquisition prices, subcontracting prices, and financial conditions, remain ongoing. - FY2020-Q3RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
Existing risks related to supply-side costs and construction capacity, including land acquisition prices, subcontracting prices, subcontractor failures, and financial conditions, were reiterated, together with a statement that there had been no significant changes. - FY2020-Q2RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
Existing risks related to supply-side costs and construction capacity, including land acquisition prices, subcontracting prices, subcontractor failures, and financial conditions, were reiterated. - FY2020-Q1RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
Existing risks related to supply-side costs and construction capacity, including land acquisition prices, subcontracting prices, subcontractor failures, and financial conditions, were reiterated. - FY2019RestatedAnnual report
「Supply trends tend to be affected by fluctuations in land acquisition prices, subcontracting prices, financial conditions, and other factors.」
Existing supply-side risks, including land acquisition prices, subcontracting prices, and financial conditions, were reiterated. The disclosure also continued to address surging construction material and labor costs and construction company failures. - FY2019-Q3RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
No significant changes were identified in business and other risks, and existing risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices, and subcontractor failures, were reiterated. - FY2019-Q2RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
No significant changes were identified in business and other risks, and existing risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices, and subcontractor failures, were reiterated. - FY2019-Q1RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
No new risks or significant changes to existing risks were identified, and supply-side risks such as land acquisition costs, subcontracting prices, and subcontractor failures were reiterated. - FY2018-Q3RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
The existing risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices and the failure of outsourced providers, were reiterated with no material changes. - FY2018-Q2RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
The existing risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices and the failure of outsourced providers, were reiterated with no material changes. - FY2018-Q1RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
The company stated that there were “no material changes” in business and other risks, and reiterated the existing risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices and the failure of outsourced providers. - FY2017-Q3RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
The risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices and the failure of outsourced providers, were reiterated with no material changes. - FY2017-Q2RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
The risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices and the failure of outsourced providers, were reiterated with no material changes. - FY2017-Q1RestatedAnnual report
「The group's core real estate sales business tends to be affected by homebuyer sentiment and supplier supply trends. Homebuyer sentiment is affected by economic conditions, interest rates, housing tax policy, consumption tax, land prices and other factors. Supplier supply trends are susceptible to fluctuations in land acquisition costs, subcontracting prices charged by general contractors and other outsourced providers, the failure of outsourced providers, and financial conditions. Changes in these trends could have a material effect on operating results.」
The existing risks related to supply-side costs and construction capacity, including land acquisition costs, subcontracting prices and the failure of outsourced providers, were reiterated. - FY2016First statedAnnual report
「If construction contract prices rise due to surging prices for construction materials and construction labor, profit margins may decline.」
The company also disclosed the risks of construction delays and contractual non-performance caused by higher prices charged by outsourced providers or their business failures.