Cargo volumes, intensifying competition and volatility in the leasing market
First written in FY2016. 13 of 34 entries say "Worsened", first in FY2019-Q1. Latest entry: FY2026.
Mitsubishi Logistics moved to the "Worse" side of this theme in 2016, 6 years before the typical company in this theme (2022).
The whole theme swung hardest in 2017: 2 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Other".
- FY2026Logistics costs remain elevated; real estate market conditions improveAnnual report
「Costs are expected to continue rising in the logistics industry against a backdrop of labor shortages and inflation. In contrast, in the real estate industry, rents are expected to rise and vacant space is expected to be absorbed steadily.」
Logistics is expected to face continued cost increases due to labor shortages and inflation, while real estate is expected to benefit from higher rents and steady absorption of vacant space. - FY2026-H1Logistics costs and trade impacts, with improving real estate market conditionsAnnual report
「In the logistics industry, costs continued to rise against a backdrop of labor shortages and inflation, while direct effects from higher US tariff rates and indirect effects on the global economy from trade issues were also observed. In contrast, the real estate industry performed relatively steadily, with rents continuing to rise as vacancy rates at leased office buildings declined.」
In logistics, higher costs due to labor shortages and inflation were compounded by the effects of higher US tariffs and trade issues. In contrast, real estate showed improvement from its previously challenging market conditions, with lower vacancy rates and higher rents. - FY2025Logistics costs continue to rise, while real estate vacancy rates improveAnnual report
「Costs continued to rise in the logistics industry against a backdrop of labor shortages and inflation. In contrast, the real estate industry performed relatively steadily, with vacancy rates declining as supply and demand for leased office buildings improved.」
In logistics, higher costs due to labor shortages and inflation continued, while declining vacancy rates at leased office buildings were noted in real estate, indicating divergent conditions between the two businesses. - FY2025-H1Logistics costs continue to rise, while real estate vacancy rates improveAnnual report
「Against this economic backdrop, costs including labor expenses continued to rise in the logistics industry due to labor shortages and inflation. In contrast, the real estate industry performed relatively steadily, with vacancy rates declining as supply and demand for leased office buildings improved.」
Higher costs due to labor shortages and inflation continued in logistics, while declining vacancy rates at leased office buildings were noted in real estate, indicating divergent conditions between the two businesses. - FY2024WorsenedAnnual report
「Against this economic backdrop, cost increases driven by insufficient truck transportation capacity, sluggish ocean freight rates and labor shortages are a concern in the logistics industry, while slackening supply and demand for leased office buildings is a concern in the real estate industry.」
Insufficient truck transportation capacity, sluggish ocean freight rates and higher costs due to labor shortages were explicitly identified as risk factors in logistics, while slackening office supply and demand is a concern in real estate. - FY2024-Q3WorsenedAnnual report
「Against this economic backdrop, cargo volumes declined in the logistics industry due to a global economic slowdown, and ocean freight rates fell below the previous fiscal year's level, while costs continued to rise due to labor shortages and other factors. In real estate, vacancy rates at leased office buildings remained high as supply and demand slackened.」
In addition to the longstanding labor shortages, higher costs and persistently high office vacancy rates, declines in cargo volumes due to the global economic slowdown and ocean freight rates below the previous fiscal year's level were explicitly noted, reinforcing the recognition of a challenging business environment. - FY2024-Q2WorsenedAnnual report
「Against this economic backdrop, in the logistics industry, ocean freight rates continued to decline year on year, while costs including labor and energy continued to rise. In the real estate industry, vacancy rates at leased office buildings rose as supply and demand slackened.」
Declining ocean freight rates and higher labor, energy and other costs continued, while the increase in office vacancy rates was explicitly noted in real estate. - FY2024-Q1WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained challenging in both sectors. In logistics, costs increased due to labor shortages and higher energy prices, while ocean and air freight rates, which had temporarily remained high, returned to pre-surge levels. In real estate, foot traffic at commercial facilities was recovering from the decline caused by the pandemic, but vacancy rates at leased office buildings remained high as supply and demand slackened, and electricity and other costs also rose.」
In logistics, higher costs due to rising energy prices and the return of ocean and air freight rates to pre-surge levels were noted. In real estate, persistently high office vacancy rates and higher electricity and other costs were added. - FY2023-Q3WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained relatively strong in logistics. Although global inflation continued amid the invasion of Ukraine and other factors, costs increased due to higher fuel prices and labor shortages, while ocean and air freight rates began to trend downward but remained high. In contrast, the real estate industry remained challenging: foot traffic at commercial facilities was recovering but had not returned to pre-pandemic levels, while vacancy rates at leased office buildings rose as supply and demand slackened.」
In addition to the higher costs caused by labor shortages and other factors through the previous quarter, soaring fuel prices were explicitly noted, expanding cost risks in the logistics industry. Freight rates began to trend downward but remained high, while foot traffic in real estate had yet to recover to pre-pandemic levels and office vacancy rates continued to rise. - FY2023-Q2Declining ocean freight rates and signs of a recovery in foot traffic at commercial facilitiesAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained relatively strong in logistics. Although global inflation continued amid the invasion of Ukraine and other factors, costs increased due to labor shortages and other factors, and ocean freight rates began to trend downward, but remained high together with air freight rates. In contrast, the real estate industry remained challenging: foot traffic at commercial facilities was recovering but had not returned to pre-pandemic levels, while vacancy rates at leased office buildings rose as supply and demand slackened. Overall, our Group performed steadily.」
In logistics, ocean freight rates began to trend downward, while ocean and air freight rates remained high and the business was described as relatively strong. In real estate, foot traffic at commercial facilities showed signs of recovery, but had not returned to pre-pandemic levels, and rising office vacancy rates continued. - FY2023-Q1Logistics remained strong amid the invasion of Ukraine and inflation, while real estate remained challengingAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained strong in logistics, despite higher costs due partly to labor shortages, as global ocean and air freight rates remained high amid accelerating global inflation following the invasion of Ukraine. In contrast, the real estate industry remained challenging, with foot traffic at commercial facilities yet to return to pre-pandemic levels and vacancy rates at leased office buildings rising as supply and demand slackened.」
In addition to the longstanding labor shortages and higher costs, the invasion of Ukraine and global inflation were noted. High ocean and air freight rates supported logistics, while weak foot traffic and rising vacancy rates in real estate continued. - FY2022-Q3WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained challenging in both sectors. In the logistics industry, including warehousing and port transportation, the recovery in cargo volumes slowed, while costs increased amid intensifying competition and labor shortages. In the real estate industry, foot traffic at commercial facilities was recovering following the lifting of the state of emergency and priority preventive measures, but the vacancy rate of leased office buildings also rose as supply and demand slackened.」
In logistics, the recovery in cargo volumes slowed, while higher costs driven by intensifying competition and labor shortages continued. In real estate, foot traffic at commercial facilities was recovering, but the increase in vacancy rates at leased office buildings was explicitly noted, and the challenging environment continued. - FY2022-Q1WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained challenging in both sectors. In the logistics industry, including warehousing and port transportation, cargo volumes were recovering, but costs increased amid intensifying competition and labor shortages. In the real estate industry, foot traffic at some commercial facilities remained weak due to the declaration of a state of emergency and the implementation of priority preventive measures, while the vacancy rate of leased office buildings also rose as supply and demand slackened.」
In logistics, cargo volumes were recovering, while higher costs from intensifying competition and labor shortages continued. In real estate, the increase in vacancy rates at leased office buildings was explicitly noted in addition to weak foot traffic at commercial facilities, broadening the recognition of a challenging environment. - FY2021WorsenedAnnual report
「Under these business conditions, the business environment surrounding our Group remained extremely challenging in logistics, including warehousing and port transportation, despite expectations for a recovery in cargo volumes, due to higher costs amid intensifying competition and labor shortages. In real estate, stagnation in business conditions is a concern due to lower sales at commercial facilities resulting from the impact of the infectious disease, as well as slackening supply and demand for leased office buildings.」
In logistics, expectations for a recovery in cargo volumes remained, but the description was strengthened to “extremely challenging” because of higher costs from intensifying competition and labor shortages. In real estate, lower sales at commercial facilities and slackening office supply and demand were newly listed. - FY2021-Q3RestatedAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained challenging in both sectors. In the logistics industry, including warehousing and port transportation, costs increased amid intensifying competition and labor shortages, while import and export cargo declined due to the impact of the infectious disease. In the real estate industry, foot traffic at some commercial facilities declined due to changes in consumer behavior, among other factors, partly as a result of the state of emergency.」
We reaffirmed our recognition of a challenging environment, with higher logistics costs from intensifying competition and labor shortages and a continued decline in import and export cargo due to the infectious disease, while foot traffic at commercial facilities continued to weaken in real estate. - FY2021-Q2Weak foot traffic at commercial facilities even after the state of emergency was liftedAnnual report
「Against this economic backdrop, the business environment surrounding our Group remained challenging in both sectors. In the logistics industry, including warehousing and port transportation, costs increased amid intensifying competition and labor shortages, while import and export cargo declined due to the impact of the infectious disease. In the real estate industry, although the state of emergency was lifted, foot traffic at some commercial facilities declined as consumer behavior changed, among other factors.」
In logistics, higher costs from intensifying competition and labor shortages and a decline in import and export cargo due to the infectious disease continued. In real estate, foot traffic at commercial facilities remained weak even after the state of emergency was lifted, reflecting changes in consumer behavior. - FY2021-Q1WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult in both the logistics industry, including warehousing and port transportation, and the real estate industry. In Logistics, import and export cargo volumes declined and costs rose against a backdrop of intensifying competition and labor shortages. In Real Estate, commercial facilities were forced to close because of the declaration of a state of emergency and other factors.」
In logistics, in addition to rising costs from intensifying competition and labor shortages, a decline in import and export cargo due to the infectious disease was indicated. In real estate, commercial facilities were forced to close in connection with the declaration of a state of emergency, reinforcing the recognition that both businesses face a challenging environment. - FY2020WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding the Group became even more difficult from the fourth quarter onward in the logistics industry, including warehousing and port transportation, owing to the impact of the infectious disease in addition to declining export cargo volumes and higher costs against a backdrop of intensifying competition and labor shortages. Meanwhile, the real estate industry remained relatively firm, with rent increases seen in some areas owing to improved supply-demand conditions for leased office buildings.」
In the logistics industry, the impact of COVID-19 was added to declining export cargo volumes, intensifying competition and higher costs resulting from labor shortages, reinforcing the assessment of a difficult environment. The real estate industry was considered relatively firm. - FY2020-Q3WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult in the logistics industry, including warehousing and port transportation, as costs rose against a backdrop of declining export cargo volumes, intensifying competition and labor shortages. Meanwhile, the real estate industry remained relatively firm, with rent increases seen in some areas owing to improved supply-demand conditions for leased office buildings.」
In the logistics industry, declining export cargo volumes were reported in addition to higher costs resulting from intensifying competition and labor shortages, reinforcing the assessment of a difficult environment. The Company maintained its view that the real estate industry was relatively firm. - FY2020-Q2WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult in the logistics industry, including warehousing and port transportation, as costs rose against a backdrop of sluggish cargo-volume growth, intensifying competition and labor shortages. Meanwhile, the real estate industry remained relatively firm, with rent increases seen in some areas owing to improved supply-demand conditions for leased office buildings.」
In the logistics industry, the wording changed from “cargo volumes increased gradually” in the previous quarter to “cargo-volume growth was sluggish,” while difficult conditions continued because of higher costs against a backdrop of intensifying competition and labor shortages. The Company maintained its view that the real estate industry was relatively firm. - FY2020-Q1Logistics conditions remain difficult while Real Estate strengthensAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult in the logistics industry, including warehousing and port transportation, as costs rose against a backdrop of intensifying competition and labor shortages despite a gradual increase in cargo volumes. Meanwhile, the real estate industry remained relatively firm, with rent increases seen in some areas owing to improved supply-demand conditions for leased office buildings.」
Cargo volumes in the logistics industry increased gradually, but conditions remained difficult because of higher costs resulting from intensifying competition and labor shortages. In the real estate industry, rent increases were seen in some areas, indicating relatively firm conditions compared with the previously difficult environment. - FY2019RestatedAnnual report
「The business environment surrounding the Group is expected to remain difficult in the logistics industry, including warehousing and port transportation, as rising costs against a backdrop of intensifying competition and labor shortages outweigh the expected gradual increase in cargo volumes. Meanwhile, in the real estate industry, concerns about slackening supply and demand for leased office buildings are expected to keep the improvement in business conditions modest.」
The Company maintained its view that costs would continue to rise because of intensifying competition and labor shortages despite the expected increase in cargo volumes. In Real Estate, it is concerned about slackening supply and demand. - FY2019-Q3RestatedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult. In the logistics industry, including warehousing and port transportation, cargo volumes increased, but costs rose against a backdrop of intensifying competition and labor shortages. In the real estate industry, rent increases resulting from improved supply-demand conditions for leased office buildings remained limited to some areas.」
Despite increased cargo volumes, the difficult business environment continued because of intensifying competition, higher costs against a backdrop of labor shortages, and limited rent increases. - FY2019-Q2RestatedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult. In the logistics industry, including warehousing and port transportation, cargo volumes increased, but costs rose against a backdrop of intensifying competition and labor shortages. In the real estate industry, rent increases resulting from improved supply-demand conditions for leased office buildings remained limited to some areas.」
Despite increased cargo volumes, the business environment remained difficult because of intensifying competition, higher costs against a backdrop of labor shortages, and limited rent increases. - FY2019-Q1WorsenedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult. In the logistics industry, including warehousing and port transportation, cargo volumes increased, but costs rose against a backdrop of intensifying competition and labor shortages. In the real estate industry, rent increases resulting from improved supply-demand conditions for leased office buildings remained limited to some areas.」
Although cargo volumes increased, costs rose against a backdrop of labor shortages in addition to the longstanding intensification of competition, reinforcing the assessment of a difficult environment for the Logistics segment. In Real Estate, rent increases remained limited to some areas. - FY2018MaterialisedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult. In the logistics industry, including warehousing and port transportation, cargo volumes increased, but competition intensified. In the real estate industry, rent increases resulting from improved supply-demand conditions for leased office buildings remained limited to some areas.」
Cargo volumes increased, but competition continued to intensify, while in Real Estate rent increases remained limited to some areas, so the difficult business environment continued throughout the fiscal year. - FY2018-Q3MaterialisedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult. In the logistics industry, including warehousing and port transportation, cargo volumes increased, but competition intensified. In the real estate industry, rent increases resulting from improved supply-demand conditions for leased office buildings remained limited to some areas.」
Cargo volumes increased, but competition continued to intensify, while in Real Estate rent increases remained limited to some areas, so the difficult business environment continued in practice. - FY2018-Q2MaterialisedAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult. In the logistics industry, including warehousing and port transportation, cargo volumes increased, but competition intensified. In the real estate industry, rent increases resulting from improved supply-demand conditions for leased office buildings remained limited to some areas.」
Cargo volumes increased, but competition continued to intensify, while in Real Estate rent increases remained limited to some areas, so the difficult business environment continued in practice. - FY2018-Q1Import and export cargo volumes increased, but difficult conditions continued because competition intensified and rent increases remained limitedAnnual report
「The logistics industry, including warehousing and port transportation, remained in a difficult environment despite an increase in import and export cargo volumes, owing to intensifying competition. In the real estate industry, rent increases resulting from improved supply-demand conditions for leased office buildings remained limited to some areas, and conditions continued to be difficult.」
Import and export cargo volumes increased, but competition continued to intensify. In Real Estate, rent increases remained limited to some areas, so the Company maintained its assessment of a difficult business environment. - FY2017Cargo volumes began to recover, but intensifying competition kept conditions difficultAnnual report
「Against this economic backdrop, the business environment surrounding the Group remained difficult. In the logistics industry, including warehousing and port transportation, cargo movements were recovering, but competition was intensifying. In the real estate industry, although there were signs of improving supply-demand conditions for leased office buildings, rent levels had not recovered.」
Cargo movements in Logistics were considered to be recovering, but competition continued to intensify, while in Real Estate rent levels had not recovered, reflecting continued recognition of a difficult environment. - FY2017-Q3MaterialisedAnnual report
「The logistics industry, including warehousing and port transportation, remained in a difficult environment because of sluggish cargo-volume growth and intensifying competition. In the real estate industry, although there were signs of improving supply-demand conditions for leased office buildings, rent levels had not recovered, and conditions remained difficult.」
The business-environment risks of sluggish cargo-volume growth, intensifying competition and the failure of rent levels to recover continued to be present during the third quarter. - FY2017-Q2MaterialisedAnnual report
「The logistics industry, including warehousing and port transportation, remained in a difficult environment because of sluggish cargo-volume growth and intensifying competition. In the real estate industry, although there were signs of improving supply-demand conditions for leased office buildings, rent levels had not recovered, and conditions remained difficult.」
The business-environment risks of sluggish cargo-volume growth, intensifying competition and the failure of rent levels to recover continued to be present during the quarter. - FY2017-Q1MaterialisedAnnual report
「The logistics industry, including warehousing and port transportation, remained in a difficult environment because of declining import and export cargo volumes and intensifying competition. In the real estate industry, although there were signs of improving supply-demand conditions for leased office buildings, rent levels had not recovered, and conditions remained difficult.」
The previously identified business-environment risks of declining cargo volumes, intensifying competition and the failure of rent levels to recover are described as actual conditions during the quarter. - FY2016First statedAnnual report
「The Logistics segment is affected by changes in domestic and overseas economic conditions, the logistics rationalization and business restructuring of customer companies, and other factors. The Real Estate segment is affected by changes in the business environment, including the supply-demand balance and market conditions in the office leasing market.」
The main external risks are economic and customer-company changes in Logistics, and supply-demand conditions and market trends in the office leasing market in Real Estate.