Delays in Real Estate Development, Investment Overruns, and Declines in Asset Value
First written in FY2017. 2 of 5 entries say "Materialised", first in FY2026-H1. Latest entry: FY2026.
Kyushu Railway Company moved to the "Worse" side of this theme in 2025, 1 year before the typical company in this theme (2026).
The whole theme swung hardest in 2020: 2 of 10 companies on the "Worse" side.
2 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Our Group has recognized a project withdrawal loss of ¥9,471 million as an expense associated with the cancellation of the Hakata Station Air City Project. The main components were an impairment loss of ¥6,199 million and other expenses of ¥3,272 million.」
Regarding real estate development risks, a withdrawal loss of ¥9,471 million and an impairment loss of ¥6,199 million related to the cancellation of the Hakata Station Air City Project were recognized for the full fiscal year. - 2026-05-11Cited as achievedResults
「特別損失 「博多駅空中都市プロジェクトの計画中止」や「令和７年８月６日からの大雨」による損失の計上。」
博多駅空中都市プロジェクトの計画中止について、通期決算でも特別損失の要因として引用され、プロジェクト撤退損9471百万円を計上した。 - FY2026-H1MaterialisedAnnual report
「Due in part to the recognition of losses resulting from the cancellation of the Hakata Station Air City Project, interim net income attributable to owners of the parent declined for the second consecutive period.」
Regarding real estate development risks, the planned cancellation of the Hakata Station Air City Project actually occurred, and related losses became a factor behind the decline in interim net income. - FY2018RestatedAnnual report
「The station-building and real estate businesses of our Group involve substantial investment at each stage of projects that take a long time to generate returns. Various external factors beyond our Group's control may increase the time and investment required for completion, and projects may fail to generate the expected returns.」
The company continues to identify risks including delays in real estate development, higher investment costs, and fluctuations in vacancies, rents and selling prices. - FY2017First statedAnnual report
「The station-building and real estate businesses of our Group involve substantial investment at each stage of projects that take a long time to generate returns. Various external factors beyond our Group's control may increase the time and investment required for completion, and projects may fail to generate the expected returns.」
For the development of station buildings, condominiums and other properties, the company cites the possibility of completion delays, higher investment costs, rising vacancy rates, lower rents and selling prices, and impairment losses.