Fluctuations in New Housing Starts and Housing Demand
First written in FY2016. 15 of 33 entries say "Restated". Latest entry: 2026-10-02.
Kitakei moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 35 of 50 companies on the "Worse" side.
3 other companies' latest entry also says "Reframed".
- 2026-10-02ReframedEarnings
「The number of new housing starts in our principal markets, owner-occupied homes and detached homes for sale, is beginning to exceed the level in the same period of the previous year, when starts continued to decline due to the rush demand and subsequent reaction following the revision of the Building Standards Act last spring, as well as prolonged building confirmation application procedures.」
The description has changed to indicate that new housing starts are beginning to exceed the level in the same period of the previous year, following the decline in starts that continued during that period. It also notes the impact of soaring housing prices and higher mortgage interest rates on consumers’ willingness to purchase homes. - FY2026-H1RestatedAnnual report
「Sentiment toward home purchases continued to decline, while new housing starts in our main markets of owner-occupied and spec-built detached homes continued to decrease year on year. Overall, demand recovery was slow and the challenging business environment persisted.」
The company continues to disclose the declining trend in new housing starts for owner-occupied and spec-built detached homes, declining sentiment toward home purchases, and sluggish demand recovery. - FY2025WorsenedAnnual report
「New housing starts in our main markets of owner-occupied and spec-built detached homes fell markedly due to the reactionary decline following rush demand ahead of the April implementation of revisions to the Building Standards Act and energy-efficiency standards, as well as longer building-confirmation application processing times. Although signs of a partial recovery emerged from October onward, overall starts continued to decline year on year, resulting in a challenging business environment.」
The company states that the declining trend in new housing starts in its core markets became pronounced due to the reactionary decline following revisions to the Building Standards Act and energy-efficiency standards, as well as longer building-confirmation application processing times, and that the challenging business environment has continued. - FY2025-H1WorsenedAnnual report
「New housing starts in our main markets of owner-occupied and spec-built detached homes increased significantly year on year in March due to rush demand ahead of revisions to the Building Standards Act and other regulations, but declined sharply in April in a reactionary fall. Overall, they continued to decline year on year, resulting in a challenging business environment.」
The company describes a challenging environment in which new housing starts in its core markets continued to decline year on year after a temporary increase caused by revisions to the Building Standards Act and other factors and the subsequent reactionary decline. - FY2024-Q1RestatedAnnual report
「The business environment became challenging, with new housing starts in our main markets of owner-occupied and spec-built detached homes continuing to decline from the same month of the previous year.」
The company continues to recognize the ongoing decline in new housing starts in its core markets of owner-occupied and spec-built detached homes and the challenging business environment. - FY2023WorsenedAnnual report
「The business environment became challenging, with new housing starts in our main markets of owner-occupied and spec-built detached homes continuing to decline from the same month of the previous year.」
The company states that new housing starts in its core markets of owner-occupied and spec-built detached homes continued to decline year on year, resulting in a challenging business environment. - FY2023-Q3WorsenedAnnual report
「The business environment became challenging as rising housing prices resulting from inflation and surging construction-material prices raised concerns about declining sentiment toward home purchases, while new housing starts in our main markets of owner-occupied and spec-built detached homes continued to decline year on year.」
The company states that new housing starts in its core markets of owner-occupied and spec-built detached homes have continued to decline year on year. - FY2023-Q2WorsenedAnnual report
「Concerns about declining sentiment toward home purchases arose due to higher housing construction costs resulting from inflation and surging construction-material prices, among other factors, and new housing starts in our main markets of owner-occupied and spec-built detached homes remained on a declining trend.」
The company states that, amid continuing concerns about declining sentiment toward home purchases, new housing starts in its main markets of owner-occupied and spec-built detached homes actually entered a declining trend. - FY2023-Q1WorsenedAnnual report
「The business environment became one in which declining sentiment toward home purchases was a concern due to higher housing construction costs resulting from surging material prices and expectations of higher mortgage interest rates.」
The company specifically identifies concerns about declining sentiment toward home purchases against a backdrop of surging material prices and expectations of higher mortgage interest rates. - FY2022RestatedAnnual report
「As structural factors, demand is expected to gradually decline due to the declining birthrate, population aging and population decline. In the near term, if the spread of COVID-19 continues, employment and income conditions and consumer sentiment are expected to deteriorate, and we recognize that a decline in new housing starts will be unavoidable.」
The company continues to recognize that new housing starts are expected to decline, given structural demand declines caused by the declining birthrate, population aging and population decline, as well as deterioration in employment and income conditions and consumer sentiment caused by the pandemic. - FY2022-Q3WorsenedAnnual report
「Meanwhile, across construction materials, delivery delays have occurred due to disruptions in global maritime transport and the suspension of manufacturing plant operations caused by lockdowns. In addition, raw-material and transportation costs have risen with increases in crude oil prices and other factors, while sharp exchange-rate fluctuations have driven up costs and contributed to higher home prices, raising concerns about declining sentiment toward home purchases.」
While factors supporting housing demand remain, delivery delays, higher raw-material and transportation costs, and higher home prices resulting from sharp exchange-rate fluctuations have emerged, giving rise to specific concerns about declining sentiment toward home purchases. - FY2022-Q2RestatedAnnual report
「While concerns remained over the outlook for employment and income resulting from COVID-19, renovation and new-build housing demand had been supported by the continued implementation of various government and other measures to support home purchases, low mortgage interest rates and other rates, and demand for improvements to the home environment accompanying the spread of telework.」
The company continues to recognize that housing demand is being supported by concerns over employment and income due to the pandemic, home-purchase support measures, low interest rates, and demand for improvements to the home environment driven by telework. - FY2022-Q1RestatedAnnual report
「In the housing-related industry, concerns over the outlook resulting from the spread of COVID-19 remain, while the continuation of various government and other measures to support home purchases and the spread of telework have increased demand for improvements to the home environment」
The company continues to recognize housing demand in terms of both concerns over the outlook due to the pandemic and rising demand for improvements to the home environment driven by home-purchase support measures and the spread of telework. - FY2021RestatedAnnual report
「In the housing-related industry, accommodative financial conditions have continued and the government has introduced measures to support home purchases, while concerns remain over surging construction-material prices and delivery delays, and we expect uncertainty over the outlook to persist.」
The company presents both the financial conditions and support measures underpinning housing demand and the uncertainty in the housing market caused by surging construction-material prices and delivery delays. - FY2021-Q3RestatedAnnual report
「New housing starts showed signs of a modest recovery from the declining trend seen since the previous year.」
The company continues to recognize that new housing starts have recovered modestly from the declining trend seen since the previous year. - FY2021-Q2MitigatedAnnual report
「New housing starts showed signs of a modest recovery from the declining trend seen since the previous year.」
New housing starts have changed from the declining trend noted previously to a trend toward a modest recovery. - FY2021-Q1RestatedAnnual report
「New housing starts remained on a declining trend amid concerns over the outlook for employment and income conditions resulting from the spread of COVID-19.」
The declining trend in new housing starts continued, with the company citing concerns about the outlook for employment and income conditions resulting from the spread of the pandemic. - FY2020WorsenedAnnual report
「Demand is expected to gradually decline due to factors including the declining birthrate, population aging and population decline. In the near term, if the spread of COVID-19 continues, employment and income conditions and consumer sentiment are expected to deteriorate, and we recognize that a decline in new housing starts will be unavoidable.」
Regarding the risk of fluctuations in housing demand, the company indicates that a decline in new housing starts is unavoidable in light of structural demand declines and deterioration in employment and income conditions and consumer sentiment caused by the pandemic. - FY2020-Q3RestatedAnnual report
「New housing starts declined amid growing uncertainty over the outlook for employment and income conditions resulting from the spread of COVID-19.」
The decline in new housing starts continued, with the company citing uncertainty over employment and income conditions resulting from COVID-19 as a background factor. - FY2020-Q2WorsenedAnnual report
「Consumer activity declined as the reactionary decline following rush demand coincided with the impact of the spread of COVID-19, resulting in declines in new housing starts and the number of renovation projects.」
In addition to the decline in new housing starts, the company explicitly cites a decline in renovation projects, with the reactionary decline following rush demand and the spread of COVID-19 adding to the factors worsening housing demand. - FY2020-Q1WorsenedAnnual report
「The total number of new housing starts declined, partly because of the decline in consumer sentiment following the consumption tax increase.」
The company states that total new housing starts declined in connection with the risk of fluctuations in housing demand. - FY2019WorsenedAnnual report
「Total new housing starts remained somewhat weak at approximately 911,000 units, or 96.9% of the year-earlier level.」
New housing starts totaled approximately 911,000 units, or 96.9% year on year, quantitatively indicating weak housing demand. - FY2019-Q3MaterialisedAnnual report
「While deterioration in market conditions for rental housing, stemming from issues including fraudulent real estate investment lending, became apparent」
The company states that deterioration in market conditions for rental housing, related to issues including fraudulent lending, had become evident in connection with the risk of fluctuations in housing demand. - FY2019-Q2RestatedAnnual report
「No new business or other risks arose during the six-month cumulative period under review. There were also no material changes to the business and other risks described in the annual securities report for the previous consolidated fiscal year.」
The company continues to treat the risk of fluctuations in new housing starts and housing demand as involving no new developments or significant changes. - FY2019-Q1ReframedAnnual report
「Although owner-occupied and spec-built detached housing starts were on an upward trend, total new housing starts remained roughly at the previous year’s level due in part to a decline in rental housing.」
The situation has changed from the overall weakness in new housing starts reported in the previous fiscal year, with increases in owner-occupied and spec-built detached homes coexisting with a decline in rental housing, leaving the overall level roughly unchanged year on year. - FY2018WorsenedAnnual report
「Total new housing starts were approximately 940,000 units, or 97.4% of the year-earlier level, indicating that housing demand remained weak.」
New housing starts totaled approximately 940,000 units, or 97.4% year on year, quantitatively indicating weak housing demand. - FY2018-Q3RestatedAnnual report
「Although the combined number of owner-occupied and spec-built detached housing starts remained firm, rental housing starts weakened after demand related to inheritance-tax planning ran its course and concerns about oversupply emerged.」
The company continues to disclose differing trends in housing demand for owner-occupied and spec-built detached homes versus rental housing. - FY2018-Q2RestatedAnnual report
「In the housing-related industry, newly built subdivided detached homes remained firm due to improvements in employment and income conditions and low mortgage rates. However, the increase in construction starts for owner-occupied housing failed to materialize, while rental housing declined as demand for inheritance-tax planning reached a peak and concerns about oversupply emerged, causing total new housing starts to show signs of weakness.」
Overall new housing starts remained weak, with the company specifically citing stagnant starts of owner-occupied homes and a decline in rental housing. Weakness across the overall market has continued from the previous quarter. - FY2018-Q1WorsenedAnnual report
「New housing starts remained weak due to declines in condominiums and rental housing.」
The company states that total new housing starts weakened against a backdrop of declines in condominiums and rental housing in connection with the risk of fluctuations in housing demand. While weakness across the overall market is evident, this disclosure does not indicate any specific impact on the company’s performance. - FY2017RestatedAnnual report
「Performance in the housing-related industry is significantly affected by fluctuations in new housing starts. For our group in particular, fluctuations in owner-occupied homes and spec-built detached homes have a significant impact on performance, given the composition of our products and customer base.」
The company continues to disclose the risk that fluctuations in new housing starts, particularly owner-occupied homes and spec-built detached homes, may affect performance. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter, and there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no new developments or significant changes concerning the risk of fluctuations in new housing starts and housing demand. - FY2017-Q2RestatedAnnual report
「No new business or other risks arose during the six-month cumulative period under review. There were also no material changes to the business and other risks described in the annual securities report for the previous consolidated fiscal year.」
The company states that there have been no new developments or significant changes concerning the risk of fluctuations in new housing starts and housing demand. - FY2016First statedAnnual report
「Performance in the housing-related industry is significantly affected by fluctuations in new housing starts. For our group in particular, fluctuations in owner-occupied homes and spec-built detached homes have a significant impact on performance, given the composition of our products and customer base.」
The company newly discloses separately the structural risk that fluctuations in housing starts, particularly demand for owner-occupied homes and spec-built detached homes, may affect performance.