Deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions
First written in FY2016. 11 of 16 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2020: 30 of 70 companies on the "Worse" side.
16 other companies' latest entry also says "Mitigated".
- FY2022MitigatedAnnual report
「As measures to address this risk, the Group regularly monitors economic trends and real estate market conditions, while seeking to reduce risk by developing market insight suited to each area's characteristics, scale, use and property profile, and by strengthening its investment decision-making and leasing capabilities.」
In response to the risk of deteriorating demand, transactions and leasing conditions due to worsening economic conditions, the Company specifies regular monitoring and the strengthening of investment decision-making and leasing capabilities as countermeasures. - FY2022-Q3MitigatedAnnual report
「In addition, the Company recognized a ¥532 million reversal of the inventory impairment loss following a reassessment of the value of its income-producing real estate.」
The reassessment of income-producing real estate resulted in a reversal of the inventory impairment loss, indicating that the impact of the previously realized risk of declining real estate values had been partially reduced. - FY2020-Q3RestatedAnnual report
「In the second quarter of the consolidated fiscal year, the Company reassessed real estate held for sale and real estate under development for sale, including hotels and commercial properties, because the spread of COVID-19 and the resulting stagnation of economic activity were expected to reduce the liquidity of income-producing real estate and increase risk premiums. As a result, the Company recognized an inventory impairment loss of ¥7,680.946 million, included in cost of sales.」
The recognition of an inventory impairment loss of ¥7,680.946 million, primarily on hotels and commercial properties, in response to declining real estate liquidity and rising risk premiums due to COVID-19 is reiterated. - FY2020-Q2MaterialisedAnnual report
「Given expectations of declining liquidity in income-producing real estate and rising risk premiums due to a global recession, the Company decided to recognize an impairment loss of ¥7,680 million on real estate held for sale, primarily hotel and commercial properties for which declines in market prices were of particular concern, based on the conservative scenario among the multiple scenarios assumed at that time.」
Assuming declining real estate liquidity and rising risk premiums, the Company recognized an inventory impairment loss of ¥7,680 million, primarily on hotel and commercial properties. The previously identified risk from worsening economic conditions has materialized as an accounting loss. - FY2020-Q1WorsenedAnnual report
「As of the end of February 2020, there had been no significant changes in investors' appetite for acquiring real estate or in financing conditions in the real estate investment market, the Group's primary target market. However, the Company recognizes the need for increased vigilance regarding declining real estate liquidity and falling prices resulting from a chain reaction of credit contraction. The Company will closely monitor trends in the real estate market and make investment decisions prudently.」
While stating that there had been no significant changes in investors' acquisition appetite or financing conditions, the Company expressed increased vigilance regarding declining real estate liquidity and falling prices resulting from a chain reaction of credit contraction, and explicitly stated that investment decisions would be made prudently. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions. - FY2019-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions described in the previous fiscal year. - FY2018RestatedAnnual report
「If, going forward, worsening economic conditions in Japan and overseas lead to lower willingness to invest in real estate, a decline in real estate transactions, higher vacancy rates or lower rents, this could affect the operating results and financial condition of the Group.」
The risk that worsening economic conditions could affect operating results and financial condition through real estate demand, transactions, vacancy rates and rents is reiterated. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions. - FY2018-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions. - FY2018-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions. - FY2017-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there have been no material changes to the risk of deterioration in real estate demand, transactions and leasing conditions due to worsening economic conditions. - FY2017-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
It is explicitly stated that there have been no material changes to the risks to real estate demand and other matters arising from worsening economic conditions described in the previous fiscal year. - FY2016First statedAnnual report
「If, going forward, worsening economic conditions in Japan and overseas lead to lower willingness to invest in real estate, a decline in real estate transactions, higher vacancy rates or lower rents, this could affect the operating results and financial condition of the Group.」
The potential impact of worsening economic conditions on operating results and financial condition through investment appetite, transaction volume, vacancy rates and rents is described.