Construction Market Risks from Weaker Private-Sector Demand, Cuts to Government Construction Projects, and Cost Fluctuations
First written in FY2019. 13 of 16 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 22 of 40 companies on the "Worse" side.
23 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「If private-sector construction demand declines substantially due to unexpected changes in the macroeconomic environment, including geopolitical risks, or if costs rise substantially due to higher material and labor costs, this may affect our business operations, financial condition, and operating results.」
The company continues to identify geopolitical risks, declining private-sector construction demand, and cost increases from higher material and labor costs as construction market risks. - FY2025-H1RestatedAnnual report
「During the interim accounting period, there were no significant changes in the occurrence of the major risks that management recognizes could materially affect the company’s financial position, financial performance, and cash flows, or in the matters described as “Business Risks” in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the key risks, including private-sector demand, public-sector construction, and cost fluctuations. - FY2024-Q3RestatedAnnual report
「During the cumulative period of the third quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the key risks, including private-sector demand, public-sector construction, and cost fluctuations. - FY2024-Q2RestatedAnnual report
「During the cumulative period of the second quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the key risks, including private-sector demand, public-sector construction, and cost fluctuations. - FY2023-Q3RestatedAnnual report
「During the cumulative period of the third quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the key risks, including private-sector demand, public-sector construction, and cost fluctuations. - FY2023-Q1RestatedAnnual report
「During the cumulative period of the first quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the key risks, including lower private-sector demand, reduced public-sector construction, and cost fluctuations. - FY2022WorsenedAnnual report
「However, if private-sector construction demand declines substantially due to unexpected changes in the macroeconomic environment, including geopolitical risks, or if costs rise substantially due to higher material and labor costs, this may affect our business operations, financial condition, and operating results.」
The company explicitly adds geopolitical risks and higher material and labor costs to the existing risks of lower private-sector demand and cost fluctuations. - FY2022-Q2RestatedAnnual report
「During the cumulative period of the second quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the existing key risks, including lower private-sector demand, reduced public-sector construction, and cost fluctuations. - FY2021-Q3RestatedAnnual report
「The outlook for the construction industry has become increasingly uncertain, with some construction projects being suspended or delayed and the start of new sites being postponed.」
The company continues to describe uncertainty in the construction market arising from suspended or delayed construction projects and postponed starts of new sites, as it did in the previous quarter. - FY2021-Q2WorsenedAnnual report
「The outlook for the construction industry has become increasingly uncertain, with some construction projects being suspended or delayed and the start of new sites being postponed.」
The company states that, in addition to the existing risks of lower construction demand and cost fluctuations, construction projects have been suspended or delayed and the start of new sites has been postponed, increasing uncertainty about the outlook for the construction industry. - FY2021-Q1RestatedAnnual report
「During the cumulative first quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks described in the previous fiscal year, including lower private-sector demand, reduced public-sector construction, and cost fluctuations. - FY2020RestatedAnnual report
「However, if significant changes in the operating environment occur, such as an unexpected decline in private-sector construction demand accompanying a deterioration in economic conditions or substantial cost fluctuations, this may affect our business operations, financial condition, and operating results.」
The company continues to identify construction market risks from lower private-sector construction demand and cost fluctuations. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks described in the previous fiscal year, including construction market risks from lower private-sector demand, reduced public-sector construction, and cost fluctuations. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks described in the previous fiscal year, including construction market risks from lower private-sector demand, reduced public-sector construction, and cost fluctuations. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the business and other risks described in the previous fiscal year. - FY2019First statedAnnual report
「However, if significant changes in the operating environment occur, such as an unexpected decline in private-sector construction demand accompanying a deterioration in economic conditions, reductions in public-sector construction, or substantial cost fluctuations, this may affect our business operations, financial condition, and operating results.」
The company identifies significant changes in the construction market environment, including lower private-sector construction demand, reduced public-sector construction, and cost fluctuations, as risks.