Deterioration in Office Leasing Market Conditions Due to Infectious Disease and Remote Work
First written in FY2021-Q2. 5 of 14 entries say "Mitigated", first in FY2025-H1. Latest entry: 2026-08-04.
3 other companies' latest entry also says "Mitigated".
- FY2026-H1MitigatedAnnual report
「The Tokyo central business district office leasing market remained firm, supported by the downward trend in the vacancy rate, consolidation-related relocations to newly built large-scale buildings and expansions in occupied floor space.」
In central Tokyo, the office leasing market has remained firm since the pandemic and the expansion of remote work, against a backdrop of a downward trend in the vacancy rate, consolidation-related relocations and expansions in occupied floor space. - FY2025MitigatedAnnual report
「In the Tokyo central business district office leasing market, rents recovered as the vacancy rate improved year on year. Together with consolidation-related relocations to newly built large-scale buildings and expansions in occupied floor space, this made signs of a market recovery more pronounced.」
Regarding the deterioration of the central Tokyo office market due to infectious diseases and remote work, it describes an improving vacancy rate, rent recovery, consolidation-related relocations and expansions in occupied floor space, and states that signs of recovery have become more pronounced. - FY2025-H1MitigatedAnnual report
「In the Tokyo central business district office leasing market, rents recovered as the vacancy rate improved year on year. Together with consolidation-related relocations to newly built large-scale buildings and expansions in occupied floor space, this made signs of a market recovery more pronounced.」
It states that signs of a recovery in the Tokyo central business district office market became more pronounced, against a backdrop of year-on-year improvement in the vacancy rate, rent recovery, consolidation-related relocations and expansions in occupied floor space. - FY2024-Q3RestatedAnnual report
「In the central Tokyo office leasing market, rents continued to decline as office demand fell amid the spread of remote work, particularly among large companies, and the vacancy rate remained high at around 6%. However, signs of a market recovery began to emerge, driven by expansion into newly built large-scale buildings and consolidation-related relocations.」
Although the decline in demand due to remote work, falling rents and a vacancy rate of around 6% have continued, signs of a recovery driven by expansion into newly built large-scale buildings and consolidation-related relocations have been reaffirmed. - FY2024-Q2RestatedAnnual report
「In the central Tokyo office leasing market, rents continued to decline as office demand fell amid the spread of remote work, particularly among large companies, and the vacancy rate remained high at around 6%. However, signs of a market recovery began to emerge, driven by expansion into newly built large-scale buildings and consolidation-related relocations.」
Although the decline in demand due to remote work, falling rents and a vacancy rate of around 6% have continued, signs of a recovery driven by expansion into newly built large-scale buildings and consolidation-related relocations have been reaffirmed. - FY2024-Q1Office market weakness persists, but signs of recovery are emergingAnnual report
「In the central Tokyo office leasing market, rents continued to decline as office demand fell amid the spread of remote work, particularly among large companies, and the vacancy rate remained high at around 6%. However, signs of a market recovery began to emerge, driven by expansion into newly built large-scale buildings and consolidation-related relocations.」
Although the decline in demand due to remote work, falling rents and a vacancy rate of around 6% have continued, signs of a market recovery driven by expansion into newly built large-scale buildings and consolidation-related relocations have begun to emerge. - FY2023-Q3RestatedAnnual report
「In the central Tokyo office leasing market, new demand, including office consolidation-related relocations, began to emerge. However, rents remained sluggish as office lease cancellations continued amid the expansion of remote work, particularly among large companies, and the vacancy rate remained high at around 6%.」
Although new demand, including office consolidation-related relocations, has emerged, cancellations due to remote work, sluggish rents and a vacancy rate of around 6% have continued. - FY2023-Q1New demand emerged, but deterioration in domestic office market conditions continuedAnnual report
「The central Tokyo office leasing market began to see new demand, including consolidation-related relocations, after the lifting of the priority preventive measures against the spread of infection. However, office lease cancellations driven by the expansion of remote work, particularly among large companies, continued, rents continued to decline, and the vacancy rate remained high at around 6%.」
Although new demand, including consolidation-related relocations, has emerged, office lease cancellations due to remote work, falling rents and a vacancy rate of around 6% have continued, and the domestic office leasing market remains weak. - FY2022-Q2RestatedAnnual report
「The downward trend in office market conditions in central Tokyo became more pronounced as the impact of the infectious disease emerged fully. Domestic companies expanded remote work, reviewing office expansions and relocations based on previous hiring plans and reducing office space to cut fixed costs. As office demand declined, rents continued to fall, and the vacancy rate remained in the 6% range.」
Lower office demand and rents, together with a vacancy rate in the 6% range, continued due to the infectious disease and remote work. - FY2022-Q1WorsenedAnnual report
「The downward trend in office market conditions in central Tokyo became even more pronounced as the impact of the infectious disease emerged fully in the office market. Domestic companies expanded remote work, reviewing office expansions and relocations based on previous hiring plans and reducing office space to cut fixed costs. As office demand declined, rents continued to fall, and the vacancy rate exceeded 6% for the first time in approximately 7 years, since August 2014.」
The downward trend in office market conditions became more pronounced, and rents continued to fall. The vacancy rate exceeded 6% for the first time in approximately 7 years, indicating further deterioration in market conditions due to the infectious disease and remote work. - FY2021-Q3WorsenedAnnual report
「The downward trend in office market conditions in central Tokyo became pronounced as the impact of the infectious disease emerged fully in the office market. Domestic companies expanded remote work, postponing office expansions and relocations based on previous hiring plans and reducing office space to cut fixed costs. As office demand declined, rents continued to fall, and the vacancy rate exceeded 4% for the first time in approximately 4 and a half years, since June 2016.」
It states that the downward trend in office market conditions became pronounced, with demand declining due to the expansion of remote work and other factors, rents falling, and the vacancy rate exceeding 4% for the first time in approximately 4 and a half years. - FY2021-Q2First statedAnnual report
「Office rental market conditions in central Tokyo began to trend downward as the impact of the infectious disease gradually emerged in the office market. Domestic companies expanded remote work, postponing office expansions and relocations based on previous hiring plans and reducing office space to cut fixed costs. In addition, the rapid deterioration in economic conditions reduced office demand, causing the vacancy rate to rise and rents to begin declining.」
The actual real estate market conditions described include postponements of office expansions and relocations, office downsizing, lower office demand, a higher vacancy rate, and lower rents due to the spread of the infectious disease and the expansion of remote work.