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1 Outline of Survey on Trends of Land Transaction (First Survey) for FY2017 November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau, Real Estate Market Division <Survey method, etc.> 1. Purpose of the survey This is a survey of major companies which appear to have a great influence on land market trends, and is carried out to understand and organize their short-term intentions regarding land transactions, etc. with an aim to develop and provide simple and clear leading indicators. 2. Coverage of the survey Listed companies (including over-the-counter trading) and unlisted companies with capital of 1 billion yen or more. 3. Survey items (1) Judgments about the land transaction situation (2) Judgments about land price levels (3) Intentions to purchase or sell land (4) Intentions to increase or decrease land and buildings for own company use 4. Survey method: Questionnaire survey (sending and collecting by mail) 5. Date of the survey: August 2017 6. Results of the collection No. of questionnaires distributed No. of valid responses Rate of valid responses Listed companies 1,750companies 609 companies 34.8Unlisted companies 1,750 companies 840 companies 48.0Total 3,500 companies 1,449 companies 41.47. Implementing agency of the survey: Advanced Solutions Technology Japan,Inc.
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Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

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Page 1: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

1

Outline of Survey on Trends of Land Transaction (First Survey) for FY2017

November, 2017 Ministry of Land, Infrastructure, Transport and Tourism,

Land Economy and Construction Industries Bureau, Real Estate Market Division

<Survey method, etc.> 1. Purpose of the survey

This is a survey of major companies which appear to have a great influence on land market trends, and is carried out to understand and organize their short-term intentions regarding land transactions, etc. with an aim to develop and provide simple and clear leading indicators.

2. Coverage of the survey Listed companies (including over-the-counter trading) and unlisted companies with capital of 1 billion yen or more.

3. Survey items (1) Judgments about the land transaction situation (2) Judgments about land price levels (3) Intentions to purchase or sell land (4) Intentions to increase or decrease land and buildings for own company use

4. Survey method: Questionnaire survey (sending and collecting by mail) 5. Date of the survey: August 2017 6. Results of the collection

No. of questionnaires distributed

No. of valid responses

Rate of valid responses

Listed companies 1,750companies 609 companies 34.8%

Unlisted companies 1,750 companies 840 companies 48.0%

Total 3,500 companies 1,449 companies 41.4% 7. Implementing agency of the survey: Advanced Solutions Technology Japan,Inc.

Page 2: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

2

(1) Judgments about the land transaction situation Judgments about the land transaction situation in general terms were sought from

companies whose headquarters are located in each region. ① Judgment of current land transaction situation (DI) "Tokyo", increased by 7.3 points to +31.7 points, "Osaka" increased by 4.9 points to +

20.0 points, "Other regions" increased by 2.2 points to +3.6 points (Chart 1). ② Forecast of land transaction situation one year later (DI) "Tokyo" increased by 8.4 points to +24.2 points, "Osaka" increased by 1.2 points to +

7.0 points, "Other regions"increased by 2.3 points to -3.5 points(Chart 2). ③ Judgment of current land transaction situation (Answer) "Active" has increased by 6.3 points in "Tokyo", 1.4 points in "Osaka", and 2.4 points

in "other areas". "Inactivity" has decreased by 1.0 points in "Tokyo" and 3.5 points in "Osaka" (Chart 3). ④ Forecast of land transaction situation one year later (Answer) "Active" has increased by 6.4 points in "Tokyo" and by 4.2 points in "other areas".

"Inactive" decreased by 2.0 points for "Tokyo", 1.5 points for "Osaka", and 1.9 points for "other areas" (Chart 4).

Figure 1 DI about judgments of the current land transaction situation (by location of headquarters)

Note: DI = Rate of (Active)–(Sluggish). The unit is points.

-100

-80

-60

-40

-20

0

20

40

60

September

2007

March

2008

September

2008

March

2009

September

2009

March

2010

September

2010

March

2011

September

2011

March

2012

August

2012

February

2013

August

2013

February

2014

August

2014

February

2015

August

2015

February

2016

August

2016

February

2017

August

2017

Tokyo Metropolitan Districts(current) Osaka Prefecture(current) Other regions(current)

Page 3: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

3

Figure 2 DI about forecasts of the land transaction situation in a year’s time (by location of headquarters)

-80

-60

-40

-20

0

20

40

September

2007

March

2008

September

2008

March

2009

September

2009

March

2010

September

2010

March

2011

September

2011

March

2012

August

2012

February

2013

August

2013

February

2014

August

2014

February

2015

August

2015

February

2016

August

2016

February

2017

August

2017

Tokyo Metropolitan Districts(in a year's time) Osaka Prefecture(in a year's time) Other regions(in a year's time)

Page 4: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

4

Figure 3 Judgments of the current land transaction situation (by location of headquarters)

27.0%

25.6%

23.9%

29.8%

32.2%

21.4%

21.2%

27.3%

16.3%

8.7%

11.0%

0.0%

2.0%

3.6%

2.4%

0.0%

1.0%

0.0%

1.5%

11.9%

44.7%

46.3%

66.0%

64.0%

65.1%

65.5%

61.2%

64.3%

68.6%

60.9%

65.9%

56.7%

50.0%

47.1%

46.0%

44.6%

31.3%

31.9%

20.5%

16.5%

30.9%

66.3%

48.1%

44.1%

7.0%

10.5%

11.0%

4.8%

6.6%

14.3%

10.2%

11.8%

17.9%

34.6%

39.0%

52.9%

52.0%

51.8%

66.3%

68.1%

78.5%

83.5%

67.6%

21.9%

7.2%

9.6%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

38.8%

32.5%

30.5%

35.7%

36.4%

32.7%

34.6%

32.2%

23.3%

6.3%

4.4%

3.0%

2.6%

4.3%

2.5%

2.0%

0.8%

0.7%

2.7%

20.1%

46.6%

50.6%

54.1%

59.4%

59.4%

52.7%

56.4%

58.4%

55.6%

60.7%

62.8%

63.1%

53.6%

51.7%

47.3%

51.4%

41.6%

28.8%

29.6%

19.5%

38.6%

63.2%

46.7%

44.8%

7.1%

8.1%

10.2%

11.7%

7.2%

9.0%

9.8%

7.1%

13.9%

30.6%

42.0%

45.3%

50.1%

44.3%

55.9%

69.2%

69.6%

79.8%

58.7%

16.7%

6.8%

4.6%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

15.8%

13.4%

13.9%

14.2%

16.4%

11.7%

14.5%

17.3%

9.9%

3.3%

4.0%

2.2%

1.6%

2.6%

1.4%

0.5%

1.0%

0.8%

1.4%

11.2%

22.0%

22.8%

64.8%

67.4%

65.2%

66.1%

67.3%

62.2%

62.1%

65.1%

67.7%

56.1%

47.0%

44.7%

39.6%

41.8%

33.1%

29.7%

26.0%

25.3%

41.8%

62.2%

59.3%

58.3%

19.4%

19.2%

21.0%

19.8%

16.4%

26.0%

23.5%

17.6%

22.4%

40.7%

49.0%

53.1%

58.8%

55.6%

65.5%

69.9%

73.0%

74.0%

56.8%

26.6%

18.7%

18.9%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

Active Not active or sluggish Sluggish

Other

regions

Page 5: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

5

Figure 4 Forecasts of land transaction situation in a year’s time (by location of headquarters)

16.0%

16.3%

16.2%

25.0%

17.4%

20.4%

22.2%

32.7%

23.6%

15.4%

13.0%

3.3%

3.0%

11.5%

2.9%

5.3%

2.4%

0.7%

1.5%

11.9%

38.9%

45.2%

75.0%

73.3%

74.7%

70.2%

72.7%

67.3%

68.4%

58.2%

66.7%

68.3%

54.0%

59.5%

55.0%

48.9%

46.1%

47.8%

32.2%

25.9%

30.9%

51.3%

55.8%

50.5%

9.0%

10.5%

9.1%

4.8%

9.9%

12.2%

9.4%

9.1%

9.8%

16.3%

33.0%

37.2%

42.0%

39.6%

51.0%

46.9%

65.4%

73.4%

67.6%

36.9%

5.3%

4.3%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

31.0%

24.6%

31.5%

28.2%

32.3%

34.7%

37.7%

36.8%

28.0%

24.1%

7.4%

7.9%

6.0%

11.6%

5.6%

6.4%

4.3%

2.5%

3.0%

13.3%

38.6%

50.9%

62.3%

66.6%

61.8%

60.2%

61.1%

58.6%

56.3%

57.7%

62.7%

60.7%

60.4%

56.9%

53.9%

57.1%

52.5%

48.1%

45.6%

29.7%

32.5%

60.4%

54.0%

45.2%

6.8%

8.8%

6.8%

11.7%

6.7%

6.7%

5.9%

5.5%

9.3%

15.1%

32.3%

35.1%

40.2%

31.3%

41.9%

45.5%

50.1%

67.8%

64.4%

26.3%

7.5%

4.0%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

14.1%

9.9%

13.8%

12.8%

15.1%

12.7%

15.5%

21.5%

16.1%

14.3%

5.0%

3.6%

3.1%

4.2%

1.6%

1.8%

1.3%

0.6%

1.4%

8.9%

23.0%

27.2%

68.4%

74.4%

68.3%

71.2%

72.0%

66.7%

64.2%

65.7%

68.1%

62.5%

54.5%

53.1%

46.8%

52.7%

43.0%

41.5%

39.1%

31.1%

32.5%

63.2%

61.6%

59.1%

17.6%

15.7%

17.9%

16.0%

13.0%

20.6%

20.3%

12.8%

15.8%

23.2%

40.5%

43.2%

50.1%

43.1%

55.4%

56.7%

59.6%

68.3%

66.0%

27.8%

15.4%

13.6%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

Active Not active or sluggish Sluggish

Other

regions

Page 6: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

6

(2) Judgments about land price levels

Judgments about land price levels at the locations of headquarters were sought from companies whose headquarters are located in each region. ① Judgment of current land price level (DI) "Tokyo"increased by 4.1 points to +57.8 points, "Osaka"increased by 1.8 points to +15.1 points, "Other regions" decreased by 4.2 points to -2.5 points (Chart 5). ② Forecast of land price level one year later (DI) "Tokyo"increased by 5.2 points to +40.4 points, "Osaka" increased by 3.5 points to +21.3 points, "Other regions"decreased by 2.6 points to -1.5 points (Chart 6). ③ Judgment of current land price level (Answer) "High" increased by 2.2 points in "Tokyo", by 4.9 points in "Osaka", "Low" in "Other areas" increased by 4.5 points. (Chart 7). ④ Forecast of land price level one year later (Answer) "Expected to rise" increased by 4.2 points in "Tokyo", 6.3 points by "Osaka", and 1.3 points by "other regions". "Falls expected" decreased 1.0 points in "Tokyo", but it increased by 2.8 points in "Osaka" and by 3.9 points in "Other regions" (Chart 8).

Figure 5 DI about Judgments of the current land price levels (by location of headquarters)

Note: DI = Rate of (High)–(Low). The unit is points.

-40

-30

-20

-10

0

10

20

30

40

50

60

70

September

2007

March

2008

September

2008

March

2009

September

2009

March

2010

September

2010

March

2011

September

2011

March

2012

August

2012

February

2013

August

2013

February

2014

August

2014

February

2015

August

2015

February

2016

August

2016

February

2017

August

2017

Tokyo Metropolitan Districts(current) Osaka Prefecture(current) Other regions(current)

Page 7: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

7

Figure 6 DI about Forecasts of land price levels in a year’s time (by location of headquarters)

Note: DI = Rate of (Rise)–(Decline). The unit is points.

-80

-60

-40

-20

0

20

40

60

80

September

2007

March

2008

September

2008

March

2009

September

2009

March

2010

September

2010

March

2011

September

2011

March

2012

August

2012

February

2013

August

2013

February

2014

August

2014

February

2015

August

2015

February

2016

August

2016

February

2017

August

2017

Tokyo Metropolitan Districts(in a year's time) Osaka Prefecture(in a year's time) Other regions(in a year's time)

Page 8: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

8

Figure 7 Judgments of the current land price levels (by location of headquarters)

24.2%

19.3%

28.2%

21.4%

19.7%

12.4%

19.1%

12.7%

13.2%

9.6%

13.1%

10.8%

14.1%

9.6%

14.3%

15.0%

24.1%

23.4%

27.9%

25.8%

30.6%

29.8%

66.7%

74.7%

63.1%

69.0%

68.4%

66.0%

66.1%

60.9%

64.5%

65.4%

58.6%

47.5%

54.5%

48.5%

42.4%

46.9%

38.4%

39.4%

45.6%

52.2%

51.7%

51.1%

9.1%

6.0%

8.7%

9.5%

12.0%

21.6%

14.8%

26.4%

22.3%

25.0%

28.3%

41.7%

31.3%

41.9%

43.3%

38.1%

37.4%

37.2%

26.5%

22.0%

17.7%

19.1%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

58.5%

56.3%

50.4%

50.9%

48.4%

44.6%

41.1%

38.9%

34.8%

31.3%

37.6%

39.2%

32.3%

34.9%

36.8%

40.6%

43.3%

50.6%

58.7%

57.0%

60.0%

50.3%

40.7%

41.1%

46.7%

47.9%

48.2%

49.8%

54.5%

54.1%

56.0%

55.7%

47.4%

44.9%

48.1%

47.4%

43.8%

37.2%

37.9%

36.2%

36.2%

39.0%

34.1%

44.0%

0.7%

2.6%

2.9%

1.2%

3.4%

5.6%

4.5%

6.9%

9.2%

13.0%

15.1%

15.9%

19.6%

17.7%

19.4%

22.2%

18.8%

13.2%

5.2%

3.9%

5.9%

5.8%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

16.6%

16.3%

14.7%

15.7%

16.0%

11.7%

12.6%

13.7%

11.6%

13.1%

14.8%

13.7%

12.9%

16.1%

15.1%

15.4%

19.6%

21.6%

21.9%

22.2%

20.7%

20.3%

64.3%

69.0%

65.6%

64.9%

66.1%

59.8%

59.3%

62.9%

62.8%

58.6%

53.1%

53.8%

56.5%

52.3%

50.3%

49.1%

47.4%

48.5%

53.4%

56.1%

57.2%

54.0%

19.1%

14.6%

19.8%

19.4%

18.0%

28.5%

28.1%

23.4%

25.7%

28.3%

32.2%

32.5%

30.6%

31.6%

34.6%

35.5%

33.0%

29.9%

24.7%

21.7%

22.2%

25.8%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

High Appropriate Low

Other

regions

Page 9: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

9

Figure 8 Forecasts of land price levels in a year’s time (by location of headquarters)

25.3%

19.0%

21.4%

17.9%

27.7%

33.7%

27.6%

34.9%

21.5%

16.3%

7.1%

5.0%

4.0%

8.8%

2.9%

5.3%

3.4%

1.4%

2.9%

23.8%

51.0%

47.8%

70.7%

79.8%

71.8%

79.8%

67.2%

63.3%

69.8%

60.6%

72.7%

78.8%

75.8%

75.8%

68.7%

71.5%

64.4%

61.9%

56.9%

41.7%

38.2%

59.4%

46.2%

48.4%

4.0%

1.2%

6.8%

2.4%

5.0%

3.1%

2.6%

4.6%

5.8%

4.8%

17.2%

19.2%

27.3%

19.7%

32.7%

32.7%

39.7%

56.8%

58.8%

16.9%

2.9%

3.8%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

42.7%

38.5%

43.4%

47.2%

51.4%

51.1%

54.5%

51.1%

41.9%

31.1%

8.6%

11.5%

7.5%

20.5%

10.9%

8.0%

7.6%

2.1%

7.0%

25.6%

57.7%

66.0%

55.1%

58.2%

54.2%

50.1%

47.0%

48.0%

44.4%

47.8%

55.3%

64.4%

79.7%

73.5%

69.1%

68.1%

69.9%

65.9%

60.2%

40.4%

49.2%

56.7%

39.4%

32.6%

2.3%

3.3%

2.3%

2.7%

1.5%

0.8%

1.2%

1.1%

2.8%

4.6%

11.6%

15.0%

23.4%

11.4%

19.2%

26.1%

32.2%

57.5%

43.8%

17.7%

2.9%

1.4%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

14.0%

12.7%

11.9%

15.1%

16.3%

14.7%

16.4%

17.5%

14.1%

11.3%

4.2%

5.3%

2.1%

4.5%

2.2%

2.3%

2.4%

2.3%

5.0%

14.4%

26.0%

28.7%

70.5%

75.7%

77.0%

74.6%

73.0%

68.0%

69.0%

71.3%

71.7%

73.5%

69.6%

68.0%

67.2%

74.0%

61.3%

59.3%

57.6%

42.8%

52.0%

70.3%

64.1%

61.1%

15.5%

11.6%

11.2%

10.3%

10.7%

17.3%

14.6%

11.2%

14.1%

15.2%

26.2%

26.7%

30.7%

21.4%

36.5%

38.4%

40.0%

54.9%

43.0%

15.2%

9.8%

10.2%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Aug 2017

Feb 2017

Aug 2016

Feb 2016

Aug 2015

Feb 2015

Aug 2014

Feb 2014

Aug 2013

Feb 2013

Aug 2012

Mar 2012

Sep 2011

Mar 2011

Sep 2010

Mar 2010

Sep 2009

Mar 2009

Sep 2008

Mar 2008

Sep 2007

Mar 2007

High Appropriate Low

Other

regions

Page 10: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

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(3) Intentions to purchase or sell land

Regarding "Intention to purchase and sell land over the next year", both "purchase" and "sale" have decreased in all regions. DI ("Purchase" - "Sale") decreased by 1.3 points in "Tokyo", 0.1 points by "Other regions", and 0.4 points by "Osaka".

By industry, DI increased by 5.2 points as "purchased" increased by 0.9 points and "sold" decreased by 4.3 points for "manufacturing industry". In the "non-manufacturing industry", DI decreased by 4.1 points (Chart 9), as "Purchase" decreased by 2.5 points and "Sale" increased by 1.6 points.

Figure 9 Intentions to purchase or sell land within a year

(by location of properties)

(by industry)

50%

40%

30%

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0%

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50%

Sep

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2017

Purchase Sell DI

〈Osaka Prefecture〉 〈Other regions〉 〈Total〉〈Tokyo Metropolitan Districts〉

70%

60%

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30%

20%

10%

0%

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60%

70%

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Purchase Sell DI

〈Manufacturing industries〉 〈Non-manufacturing industries〉

Page 11: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

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Notes 1: The figures of the intentions to purchase or sell are the ratios of companies which responded that they intend to purchase or sell land to the total number of valid responses (the total number of valid responses in each industry for intentions by industry).

2: As for intentions by location of properties, multiple answers regarding regions are allowed for companies, so the totals may differ from the sums of each region.

Page 12: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

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(4) Intentions to increase or decrease land and buildings for own company use "Intention to increase / decrease land and buildings for in-house use in the next year" has

increased substantially in all areas. DI ("Increase" - "Decrease") by Property Location increased by 2.4 points in "Tokyo" and by 4.4 points in "Other Region", and "Osaka" is almost flat (Chart 10).

According to industry type, "Manufacturing" increased by 4.2 points while "Nonmanufacturing" decreased by 3.1 points.

Figure 10 Intentions to increase or decrease land and buildings for own company use within a year

(by location of properties)

(by industry)

Notes 1: The intentions to increase or decrease land and buildings for own company use are as follows: - Exclude the purpose of selling and lending to other companies and the purpose of investment - Include the use of a building only (cases of moving into a rental building as a tenant, etc. also apply) - Include “rent” or “terminate to rent,” not only to purchase or sell 2: The figures of the intentions to increase or decrease are the ratios of companies

50%

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Increase Decrease DI

〈Tokyo Metropolitan Districts〉 〈Osaka Prefecture〉 〈Other regions〉 〈Total〉

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Increase Decrease DI

〈Manufacturing industries〉 〈Non-manufacturing industries〉

Page 13: Outline of Survey on Trends of Land Transaction (First ... · November, 2017 Ministry of Land, Infrastructure, Transport and Tourism, Land Economy and Construction Industries Bureau,

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which responded that they have intentions to increase or decrease land and building use to the total number of valid responses (the total number of valid responses in each industry for intentions by industry).