Sekisui House sees Japanese market pick up

Japanese house builder Sekisui House recorded growth across the board with its 2012 full year financial results, as housing development in Japan continued to show slow but steady growth.

Net sales for 2012 were JPY 1.6 trillion (US$ 17 billion), an increase of +5.4% from 2011’s JPY 1.5 trillion (US$16.1 billion).

Operating income also showed improvements, up +21.6% in 2012 to JPY 86 billion (US$ 908 million) compared with JPY 71 billion (US$ 747 million) in 2011.

Total orders for the year also showed gains. Backlog for 2012 sat at JPY 1.7 billion (US$ 18 billion), up +8.1% on 2011.

According to Sekisui House, demand for reconstruction projects in areas affected by the Great East Japan Earthquake acted as a key support for the Japanese economy.

The house builder reported that in the housing market, new housing starts showed a gradual recovery, assisted by increased public interest in housing safety, housing security and energy issue as well as government measures for supporting housing acquisition.