Dependence on Construction Business Licenses and Legal and Regulatory Requirements
First written in FY2020. 2 of 5 entries say "Restated". Latest entry: 2026-09-11.
Nissou moved to the "Worse" side of this theme in 2026, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 7 of 27 companies on the "Worse" side.
11 other companies' latest entry also says "Materialised".
- 2026-09-11MaterialisedRevision of earnings forecasts
「Because of administrative procedures and the impact of relevant laws and regulations affecting new construction, reviews of the applications and permits required for construction took longer than before, delaying the start of construction.」
The previously identified risk related to construction permits and legal regulations resulted in an actual delay in construction starts because reviews of applications and permits took longer. - FY2024Expansion of the scope of regulatory risksAnnual report
「The Construction Business Act sets deadlines for payments to subcontractors, and the Group makes payments to specialist construction companies without delay. However, if payments are delayed for any reason and the Group violates the Act, this could affect the Group's business operations and results.」
In addition to the revocation or non-renewal of licences and permits and changes in legal regulations, the report specifically describes the risk of violating the Construction Business Act due to delayed payments to specialist construction companies. - FY2023RestatedAnnual report
「If the relevant licences and permits are revoked or renewal is not approved for any reason in the future, or if the relevant laws are amended or abolished or new legal regulations are enacted, the Group may become unable to accept orders for construction work above a certain scale, which could affect its business operations and results.」
The risk of restrictions on accepting orders due to the revocation or non-renewal of licences and permits or changes in legal regulations has been reaffirmed. - FY2021RestatedAnnual report
「If the relevant licences and permits are revoked or renewal is not approved for any reason in the future, or if the relevant laws are amended or abolished or new legal regulations are enacted, the Company may become unable to accept orders for construction work above a certain scale, which could affect its business operations and results.」
The risk of restrictions on accepting orders due to the revocation or non-renewal of construction business licences and changes in legal regulations has been reaffirmed. - FY2020First statedAnnual report
「If the relevant licences and permits are revoked or renewal is not approved for any reason in the future, or if the relevant laws are amended or abolished or new legal regulations are enacted, the Company may become unable to accept orders for construction work above a certain scale, which could affect its business operations and results.」
The risk that the Company may become unable to accept orders for construction work above a certain scale due to the revocation or non-renewal of licences and permits or new legal regulations has been identified.