Real Estate Market, Interest Rate and Selling Price Volatility, and Contractor Credit Risk
First written in FY2017. 25 of 33 entries say "Restated". Latest entry: FY2027-H1.
Land moved to the "Worse" side of this theme in 2021.
1 other company's latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「However, it is necessary to closely monitor the impact on this business of rising raw material costs and volatility in the financial and capital markets amid the trend toward yen depreciation, and it has become necessary to assess profitability more carefully.」
The company continues to explain that, in light of higher raw material costs and volatility in the financial and capital markets, profitability must be assessed carefully for investments related to renewable energy. - FY2026-H1RestatedAnnual report
「During the current interim consolidated accounting period (1 March 2025 to 31 August 2025), Japan’s economy remained on a moderate recovery trend, supported by improvements in employment and income conditions and an increase in inbound demand. However, the outlook remains uncertain, with downside risks including the impact of U.S. trade policy, heightened instability in the international situation, and soaring raw material and energy prices.」
While recognizing the economy’s moderate recovery, the company continues to cite uncertainty regarding the outlook due to U.S. trade policy, the international situation, and higher raw material and energy prices. - FY2025-H1RestatedAnnual report
「However, the outlook remains uncertain due to persistently high raw material and energy prices, downside risks in overseas economies and volatility in financial and capital markets.」
The company has continued from the previous quarter to cite uncertainty regarding the outlook due to higher raw material and energy prices, downside risks to overseas economies, and volatility in the financial and capital markets. - FY2025-Q1RestatedAnnual report
「However, the outlook remains uncertain due to persistently high raw material and energy prices, downside risks in overseas economies and volatility in financial and capital markets.」
The company continues to cite uncertainty regarding the outlook due to higher raw material and energy prices, downside risks to overseas economies, and volatility in the financial and capital markets. - FY2024WorsenedAnnual report
「During the current consolidated fiscal year, Japan’s economy continued to normalize economic activity through the easing of restrictions related to COVID-19, with domestic economic activity, including inbound demand and employment and income conditions, also normalizing. However, the outlook remained uncertain due to global monetary tightening, soaring energy prices, prolonged conflicts in various countries, and the impact of higher prices on personal consumption.」
While recognizing the normalization of economic activity, the company specifically identifies global monetary tightening, soaring energy prices, prolonged conflicts, and higher prices as new or ongoing external-environment risks. - FY2024-Q3RestatedAnnual report
「However, the outlook for the economy remains uncertain due to concerns about the impact on consumption of sharp yen depreciation and higher resource and energy prices, as well as overseas economic and price trends and developments in Ukraine and the Middle East.」
The company continues to cite uncertainty regarding the outlook due to the rapid depreciation of the yen, higher resource and energy prices, overseas economic and price trends, and the situations in Ukraine and the Middle East. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period (1 March 2023 to 31 May 2023), Japan’s economy showed signs of a gradual recovery as economic activity normalized through the phased easing of various restrictions related to COVID-19. However, the outlook remains uncertain due to concerns about the impact on consumption of the rapid depreciation of the yen and higher resource and energy prices, as well as overseas economic and price trends and developments in the situation in Ukraine.」
While economic activity is gradually normalizing, the company continues to cite uncertainty regarding the outlook due to the rapid depreciation of the yen, higher resource and energy prices, overseas economic and price trends, and the situation in Ukraine. - FY2023-Q3RestatedAnnual report
「In the real estate industry to which the Group belongs, overall real estate market conditions remained firm against the backdrop of a favorable financing environment under low interest rates. However, as the spread of COVID-19 has brought changes in work styles and individual consumer activity, it has become necessary to assess the profitability of investments in new projects more carefully.」
While stating that real estate market conditions remain firm, the company reiterates that, in light of changes in work styles and individual consumption resulting from COVID-19, profitability must be assessed more carefully when investing in new projects. - FY2023-Q2WorsenedAnnual report
「During the second quarter of the current consolidated cumulative period (1 March 2022 to 31 August 2022), Japan’s economy remained subject to an uncertain outlook, owing to the sharp increase in COVID-19 cases during the seventh wave, the prolonged instability in the international situation surrounding Russia’s invasion of Ukraine, the rapid depreciation of the yen, and soaring raw material and energy prices.」
In addition to the existing impact of COVID-19, the seventh wave, the prolonged situation in Ukraine, the rapid depreciation of the yen, and soaring raw material and energy prices are specifically identified as factors contributing to an uncertain outlook. - FY2023-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period (1 March 2022 to 31 May 2022), Japan’s economy showed signs of recovery in socioeconomic activity, including the lifting of priority preventive measures in all regions, although the risk of a renewed spread of COVID-19 remained. At the same time, inflation advanced beyond expectations due to higher energy and raw material prices accompanying the prolonged situation in Ukraine, as well as the rapid depreciation of the yen resulting from the widening interest-rate differential between Japan and the United States. The outlook for the economy therefore remains uncertain.」
COVID-19, the prolonged situation in Ukraine, higher energy and raw material prices, the rapid depreciation of the yen, and higher-than-expected inflation are cited as factors contributing to uncertainty in the external environment. - FY2022RestatedAnnual report
「When constructing buildings or carrying out similar work, the Group enters into construction contracts with contractors. If a contractor experiences concerns about its creditworthiness or a similar problem, construction delays and other issues may arise, potentially affecting the Group’s performance and financial position.」
The risk of construction delays due to real estate market conditions, interest rates, selling prices and concerns about contractors’ creditworthiness has been reiterated as a full-year risk item. - FY2022-Q3RestatedAnnual report
「In the real estate industry to which the Group belongs, domestic and overseas investors’ appetite for investment remains high against a backdrop of favorable financing conditions under low interest rates, and overall real estate market conditions have remained firm. However, because the spread of the novel coronavirus infection has changed work styles and personal consumption, profitability must be assessed more carefully when investing in new projects going forward.」
The Company has reiterated that, although real estate market conditions are firm and investment appetite is high, profitability of new projects must be assessed more carefully in light of changes in work styles and personal consumption resulting from the novel coronavirus infection. - FY2022-Q2RestatedAnnual report
「In the real estate industry to which the Group belongs, domestic and overseas investors’ appetite for investment remains high against a backdrop of favorable financing conditions under low interest rates, and overall real estate market conditions have remained firm. However, because the spread of the novel coronavirus infection has changed work styles and personal consumption, profitability must be assessed more carefully when investing in new projects going forward.」
The Company has reiterated that, although real estate market conditions are firm, profitability of new projects must be assessed more carefully in light of changes in work styles and personal consumption resulting from the novel coronavirus infection. - FY2022-Q1WorsenedAnnual report
「Although overall real estate market conditions have remained firm, changes in work styles and personal consumption resulting from the spread of the novel coronavirus infection mean that profitability must be assessed more carefully when investing in new projects going forward.」
While real estate market conditions are described as firm, the Company states that profitability must be assessed more carefully when deciding whether to invest in new projects, in light of changes in work styles and personal consumption resulting from the novel coronavirus infection. The existing external-environment risk has thus been developed into a specific constraint on new investment decisions. - FY2021MaterialisedAnnual report
「The company discussed with its audit firm projects in which discussions with government agencies and other parties involved in the businesses were taking substantially longer than expected due to the spread of the novel coronavirus and other factors, and recognized an inventory valuation loss.」
The impact of the novel coronavirus infection, previously identified as an external-environment risk, has actually emerged in the form of delays in discussions with government authorities and relevant parties, an inventory valuation loss of ¥2,955 million, and an operating loss of ¥2,822 million. - FY2021-Q3RestatedAnnual report
「However, the emergence and spread of the novel coronavirus infection require close monitoring of the impact of fluctuations in financial and capital markets and other factors, leaving the outlook uncertain.」
Uncertainty over the outlook arising from the spread of the novel coronavirus infection and fluctuations in financial and capital markets has been reiterated as an external-environment risk continuing from the previous quarter. - FY2021-Q2RestatedAnnual report
「However, the emergence and spread of the novel coronavirus infection require close monitoring of the impact of fluctuations in financial and capital markets and other factors, leaving the outlook uncertain.」
Uncertainty over the outlook arising from the spread of the novel coronavirus infection and fluctuations in financial and capital markets has been reiterated as an external-environment risk continuing from the previous quarter. - FY2021-Q1RestatedAnnual report
「However, concerns about the economic impact of the emergence and spread of the novel coronavirus infection have arisen, leaving the outlook uncertain.」
The economic impact of the spread of the novel coronavirus infection and the resulting uncertainty over the outlook have been reiterated as external-environment risks continuing from the previous fiscal year. - FY2020WorsenedAnnual report
「However, the economic impact of the emergence and spread of the novel coronavirus remains uncertain, resulting in an unstable outlook.」
In addition to the existing uncertainties regarding economic conditions, interest rates, selling prices and overseas economies, the economic impact of the emergence and spread of the novel coronavirus has been identified as a specific external-environment risk. - FY2020-Q3RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan’s economy remained uncertain due to concerns about overseas economic and policy uncertainty, including the United Kingdom’s EU withdrawal negotiations and trade issues between the United States and China, as well as concerns about a decline in consumption following an increase in the domestic consumption tax.」
Concerns about a decline in consumption due to the United Kingdom’s EU withdrawal negotiations, trade issues between the United States and China, and the consumption tax increase have been reiterated as external-environment uncertainty. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter of the current fiscal year, Japan’s economy remained uncertain due to concerns about overseas economic and policy uncertainty, including the United Kingdom’s EU withdrawal negotiations and trade issues between the United States and China, as well as concerns about a decline in consumption following an increase in the domestic consumption tax.」
Concerns about a decline in consumption due to the United Kingdom’s EU withdrawal negotiations, trade issues between the United States and China, and the consumption tax increase have been reiterated as external-environment uncertainty. - FY2020-Q1RestatedAnnual report
「However, the outlook remains uncertain due to economic and policy uncertainty overseas, including the United Kingdom’s negotiations to leave the EU and trade issues between the United States and China.」
Uncertainty over the outlook arising from external economic and policy uncertainty has been reiterated, using the United Kingdom’s EU withdrawal negotiations and trade issues between the United States and China as specific examples. - FY2019RestatedAnnual report
「If circumstances 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’ willingness to buy may decline, which may affect the Group’s performance.」
The risk of impacts on performance and construction schedules from changes in economic conditions, interest rates, supply and selling prices, and concerns about contractors’ creditworthiness has been reiterated. - FY2019-Q3RestatedAnnual report
「However, concerns remain about the impact of trade friction centered on the United States on the economy, and the outlook remains uncertain.」
Uncertainty over the outlook arising from trade friction centered on the United States has been cited as a new specific example, while the Company states that there have been no material changes in business and other risks. - FY2019-Q2RestatedAnnual report
「However, the outlook remains uncertain due to the effects of U.S. policy trends, concerns about slowing growth in China and other emerging economies, and geopolitical risks in the Middle East and East Asia.」
Uncertainty over the outlook arising from U.S. policy trends, concerns about slowing growth in China and other emerging economies, and geopolitical risks has been reiterated as an external-environment risk. - FY2019-Q1RestatedAnnual report
「However, the outlook remains uncertain due to the effects of U.S. policy trends, concerns about slowing growth in China and other emerging economies, and geopolitical risks in the Middle East and East Asia.」
Uncertainty over the outlook arising from U.S. policy trends, concerns about slowing growth in China and other emerging economies, and geopolitical risks has been reiterated as an external-environment risk. - FY2018RestatedAnnual report
「If circumstances 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’ willingness to buy may decline, which may affect the Group’s performance.」
Changes in economic conditions, interest rates, supply and selling prices, and the risk of construction delays due to concerns about contractors’ creditworthiness, have been reiterated as business and other risks. - FY2018-Q3RestatedAnnual report
「However, the outlook remains uncertain due to the effects of U.S. policy trends and rising geopolitical risks in Japan.」
Uncertainty over the outlook arising from U.S. policy trends and domestic geopolitical risks has been reiterated as an external-environment risk. The Company states that there have been no material changes in business and other risks. - FY2018-Q2RestatedAnnual report
「However, the outlook remains uncertain due to the effects of U.S. policy trends and rising geopolitical risks in Japan.」
Uncertainty over the outlook arising from U.S. policy trends and domestic geopolitical risks has been reiterated as an external-environment risk. - FY2018-Q1RestatedAnnual report
「However, the outlook remains uncertain due to the effects of U.S. policy trends, concerns about slowing growth in China and other emerging economies, and geopolitical risks in the Middle East and East Asia.」
The Company identifies uncertainty over the outlook arising from economic conditions, overseas economies and geopolitical factors as an external-environment risk. It states that there have been no material changes in business and other risks from the previous fiscal year. - FY2017First statedAnnual report
「If circumstances 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’ willingness to buy may decline, which may affect the Group’s performance.」
In addition to changes in economic conditions, interest rates, new supply, selling prices and housing tax policy, the risk of construction delays due to concerns about contractors’ creditworthiness has been specifically listed for the first time.