Risk of Tighter Real Estate Regulations and Studio Apartment Regulations
First written in FY2016. 4 of 8 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2026: 3 of 7 companies on the "Worse" side.
16 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「As the Group develops its products in accordance with these ordinances and other regulations, it believes that the likelihood of such regulations affecting its business is currently limited. However, if local governments impose further restrictions, this could affect the Group’s business.」
The company continues to state that the current impact is expected to be limited because products are developed in accordance with the relevant ordinances, while the risk of additional regulations by local governments remains. - FY2023RestatedAnnual report
「No circumstances currently exist that would result in the revocation of the relevant licences, permits or other authorisations. However, if these licences, registrations or permits were revoked or otherwise cancelled for any reason, the Group’s principal business activities could be disrupted and its operating results could be materially affected.」
The company continues to disclose the risk of revocation of various licences, registrations and permits, as well as the limited current impact achieved by developing products in accordance with the relevant ordinances. - FY2022Additional disclosure of licences, registrations and permitsAnnual report
「No circumstances currently exist that would result in the revocation of the relevant licences, permits or other authorisations. However, if these licences, registrations or permits were revoked or otherwise cancelled for any reason, the Group’s principal business activities could be disrupted and its operating results could be materially affected.」
The company continues to disclose the risk of licence and permit revocation, while providing specific disclosure of its current licences and registrations, including its real estate brokerage licence, registration as a rental housing management operator and real estate specified joint enterprise permit. - FY2021Explicit disclosure of the risk of licence and permit revocationAnnual report
「No circumstances currently exist that would result in the revocation of the relevant licences, permits or other authorisations. However, if these licences, registrations or permits were revoked or otherwise cancelled for any reason, the Group’s principal business activities could be disrupted and its operating results could be materially affected.」
The company explicitly states that the revocation of its real estate brokerage licence, real estate specified joint enterprise permit, registration as a condominium management operator, construction business licence or other authorisations could affect its principal business, in addition to the existing risk of tighter one-room condominium regulations. - FY2019RestatedAnnual report
「As the Group develops its products in accordance with these ordinances and other regulations, it believes that the likelihood of such regulations affecting its business is currently limited. However, if local governments impose further restrictions, this could affect the Group’s business.」
The company continues to state that the current impact is expected to be limited because products are developed in accordance with the relevant ordinances, while the risk of additional regulations remains. - FY2018RestatedAnnual report
「As the Group develops its products in accordance with these ordinances and other regulations, it believes that the likelihood of such regulations affecting its business is currently limited. However, if local governments impose further restrictions, this could affect the Group’s business.」
The company continues to state that the current impact is expected to be limited because products are developed in accordance with the relevant ordinances, while the risk of additional regulations remains. - FY2017MitigatedAnnual report
「As the Group develops its products in accordance with these ordinances and other regulations, it believes that the likelihood of such regulations affecting its business is currently limited. However, if local governments impose further restrictions, this could affect the Group’s business.」
The company has added that the current impact of existing one-room condominium regulations is expected to be limited because products are developed in accordance with the relevant ordinances, while the risk of additional regulations remains. - FY2016First statedAnnual report
「In recent years, ordinances and other regulations restricting the construction of one-room condominiums have been enacted, particularly in Tokyo’s special wards. These include raising the minimum unit size to 25 square metres or more, requiring the installation of units above a specified size, and introducing a tax on clusters of small residential units. If local governments impose further restrictions, this could affect the Group’s business.」
The company describes its compliance with existing regulations while identifying further tightening by local governments as a risk.