Construction Market Supported by Solid Public and Private Investment
First written in FY2017-Q1. 6 of 34 entries say "Restated". Latest entry: 2026-05-13.
The whole theme swung hardest in 2025: 4 of 12 companies on the "Worse" side.
8 other companies' latest entry also says "Restated".
- 2026-05-13RestatedEarnings
「公共建設投資は底堅く、民間建設投資においても企業の設備投資意欲に支えられ、受注環境は堅調に推移いたしました。しかしながら、建設資材価格やエネルギーコストの高止まり、労務需給の逼迫等により、引き続き収益環境には留意が必要な状況が続いております。」
受注環境の堅調さと、コスト・労務面への留意が必要な状況を併記している。 - FY2026-H1SoftenedAnnual report
「In the construction market, public construction investment remains resilient, supported by measures to strengthen national resilience, while corporate appetite for capital investment remains firm in the private construction sector. Overall, the order environment remains resilient, but conditions requiring close monitoring continue due to persistently high raw material and construction equipment prices, as well as tight labor supply and demand.」
The resilience of public and private investment and the order environment, as well as the persistence of high materials prices and tight labor supply and demand, have been reconfirmed. Whereas the previous wording described the business environment as "challenging in terms of profitability," this time it states that the situation "requires close monitoring." - FY2025-H1Order environment firm, profits pressured by high costsAnnual report
「In the construction market, public construction investment remains solid due to measures such as national resilience initiatives, while companies' appetite for capital investment remains firm in the private construction investment sector, maintaining a generally solid order environment. However, the business environment remains challenging in terms of profits due to soaring raw material and construction material and equipment prices and tight labor supply and demand.」
Although the market assessment indicates that public and private construction investment and the order environment remain firm, it also indicates that profits are under pressure due to surging raw material and equipment prices and tight labor supply and demand. - FY2024-Q3Construction investment firm, costs rising and housing starts decliningAnnual report
「Against this business backdrop, public construction investment under the Five-Year Acceleration Measures for Disaster Prevention, Disaster Mitigation and National Resilience has remained firm, as has private construction investment amid the recovery in the external environment. However, the business environment remains difficult due to rising construction costs resulting from surging raw material and equipment prices and chronic shortages of construction workers. In private residential investment, variable mortgage rates have remained low and stable while fixed rates have risen, and the number of new housing starts has continued to trend downward due to the impact of persistently high construction costs on housing prices and other factors, despite the continuation of government housing support measures.」
Although public and private construction investment is described as firm, rising costs due to surging material prices and chronic shortages of construction workers, as well as declining housing starts, are also noted. - FY2024-Q2Economic recovery and firm investment coexist with declining housing startsAnnual report
「Against this business backdrop, public construction investment under the Five-Year Acceleration Measures for Disaster Prevention, Disaster Mitigation and National Resilience has remained firm, as has private construction investment against the backdrop of economic normalization. In private residential investment, variable mortgage rates remained low, while fixed rates rose, and the number of new housing starts declined for the third consecutive month in August 2023 as housing prices continued to rise due to surging construction equipment and material prices.」
Although public and private construction investment is described as firm, the decline in housing starts has continued against a backdrop of rising fixed mortgage rates and housing prices. - FY2024-Q1Public and private investment firm, housing starts weakeningAnnual report
「Against this business backdrop, public construction investment under the Five-Year Acceleration Measures for Disaster Prevention, Disaster Mitigation and National Resilience has remained firm, as has private construction investment against the backdrop of economic normalization. In private residential investment, the number of new housing starts excluding built-for-sale detached houses in April–May 2023 averaged below the January–March average, as fixed mortgage rates have been trending upward and housing prices have been rising due to surging construction equipment and material prices.」
Although public and private construction investment is described as firm, new housing starts in private residential investment are noted to be weakening. - FY2023Market recovery accompanied by high costsAnnual report
「Public construction investment has remained firm due to the effects of supplementary budgets and other measures based on the National Resilience Plan, while private construction investment has shown signs of recovery as capital investment deferred during the COVID-19 pandemic resumes. ... Meanwhile, the business environment surrounding the construction industry remains difficult due to surging construction equipment, material and labor costs, difficulties securing construction equipment and materials, challenges in securing construction workers, and an aging workforce.」
The recovery in public investment, private capital investment and residential investment is noted alongside the difficult conditions caused by material and labor costs, securing human resources and an aging workforce. - FY2023-Q3Demand firm but conditions tough due to rising costsAnnual report
「Demand in both public and private construction investment remains firm, but chronic shortages of skilled workers and continued increases in construction costs due to higher material and equipment prices are keeping the business environment challenging.」
Although demand in both the public and private sectors is considered firm, costs continue to rise due to shortages of skilled technical workers and surging equipment and material prices, and conditions are described as difficult. - FY2023-Q2Public investment firm, private construction conditions toughAnnual report
「Public construction investment, including government investment under the National Resilience Plan, is expected to remain firm. Although demand for private construction investment remains solid, the business environment remains difficult due to intensifying competition for orders, surging prices for equipment and materials, and other factors, requiring close monitoring.」
Although the outlook for public construction investment remains firm, the market assessment indicates that the difficult environment for private construction investment will continue despite solid demand, due to competition for orders and surging equipment and material prices. - FY2023-Q1Public investment firm, private investment recovering but conditions toughAnnual report
「In the domestic construction market, public construction investment, including investment under the National Resilience Plan, is expected to remain firm this fiscal year as well. Although corporate capital investment is recovering toward pre-COVID levels, conditions for private construction investment remain difficult due to the weaker yen, surging material prices and other factors.」
Although public construction investment is expected to remain firm, private construction investment remains in difficult conditions due to the weaker yen and surging material prices, despite recovering toward pre-COVID levels. - FY2022Private investment up slightly, public investment down slightlyAnnual report
「Government construction investment, centered on public works, edged down from the previous fiscal year, while private construction investment edged up on the recovery in corporate capital investment and housing demand in the Tokyo metropolitan area. Construction investment overall also edged up from the previous fiscal year.」
Public investment edged down, while private construction investment edged up, resulting in a slight increase in construction investment overall. - FY2022-Q3RestatedAnnual report
「Public construction investment, including investment under the National Resilience Plan, is expected to remain firm, while private construction investment, particularly in manufacturing and other sectors, is also expected to recover, supported by solid business performance.」
The market assessment that public construction investment will remain firm and private construction investment, particularly in manufacturing and other sectors, will recover has been reaffirmed. - FY2022-Q2RestatedAnnual report
「Public construction investment, including investment under the National Resilience Plan, is expected to remain firm, while private construction investment, particularly in manufacturing and other sectors, is also expected to recover, supported by solid business performance.」
The market assessment that public construction investment will remain firm and private construction investment will recover has been reaffirmed. - FY2022-Q1Private construction investment expected to recoverAnnual report
「In the construction industry, public construction investment, including investment under the National Resilience Plan, is expected to remain firm, and private construction investment is also expected to recover, supported by solid performance in manufacturing and other sectors. However, the outlook for material costs remains uncertain and cannot be viewed optimistically, due to surging prices for materials including steel and the global rise in timber prices known as the “wood shock.”」
Although public investment is expected to remain firm and private construction investment is expected to recover, rising material and timber prices are also cited as new concerns in the market environment. - FY2021Sharp decline in private investmentAnnual report
「In the domestic construction market, government construction investment, centered on public works, is expected to remain at around the previous fiscal year’s level, while private construction investment is expected to decline sharply due to declining investment sentiment.」
Although public investment is expected to remain at around the previous fiscal year’s level, the market assessment has changed to reflect expectations of a sharp decline in private construction investment. - FY2021-Q3Private investment weak, infections flare againAnnual report
「Although public construction investment remained relatively firm, private construction investment was weak due to declining investment sentiment resulting from deteriorating corporate performance and other factors.」
Public construction investment was relatively firm, while private construction investment was weak due to declining investment sentiment. - FY2021-Q2Orders delayed, capital investment deferredAnnual report
「Public construction investment, including investment under the National Resilience Plan, is expected to remain relatively firm, but delays in orders resulting from the spread of COVID-19 have become apparent. Meanwhile, in private-sector capital investment, there are concerns that investment plans will be deferred due to declining investment sentiment and other factors.」
Although public construction investment is expected to remain firm, the market assessment indicates that delays in orders for public works resulting from the spread of COVID-19 have become apparent and that private-sector capital investment plans may be deferred. - FY2021-Q1Construction suspended and orders stalled due to pandemicAnnual report
「In the construction industry, some construction work was suspended due to the spread of COVID-19 from March this year and requests, based on the government’s declaration of a state of emergency on 7 April, to refrain from nonessential, nonurgent outings and other measures.」
The market environment assessment has shifted to reflect construction suspensions and delays in orders resulting from the spread of COVID-19 and the declaration of a state of emergency. - FY2020Olympics-related facilities cycle ends, outlook clouded by pandemicAnnual report
「In the domestic construction market, development of large-scale facilities related to the Tokyo Olympic and Paralympic Games, which were targeted for opening by 2020, had run its course and the market entered a temporary plateau.」
As development of large-scale Olympics-related facilities ran its course, the market entered a plateau, and the market outlook shifted to one requiring attention to construction suspensions and changes in investment sentiment caused by the spread of COVID-19. - FY2020-Q3Third-quarter orders turn upwardAnnual report
「Although cumulative order value through the third quarter in the domestic construction market was down 5.5% year on year, order value in the third quarter alone turned positive year on year for the first time in the current fiscal year for both private-sector and government customers, amid expectations that the plateau will continue over the full year.」
Cumulative order value through the third quarter was down 5.5% year on year, but in the third quarter alone, orders from both private-sector and government customers turned positive year on year for the first time in the current fiscal year. - FY2020-Q2Overall market decline narrowsAnnual report
「Although the full-year outlook for the domestic construction market is for the plateau to continue, orders from both private-sector and government customers remained down year on year on a first-half order-value basis, resulting in an overall decline of 9.6%.」
Although orders from both private-sector and government customers declined year on year, the overall market decline narrowed from 16.6% reported in the previous quarter to 9.6%. The outlook that the plateau will continue over the full year has been maintained. - FY2020-Q1Sharp decline in the overall marketAnnual report
「In the domestic construction market, both private-sector and government demand declined year on year, resulting in a substantial overall decline of △16.6%. However, the full-year outlook for the construction market is that the plateau will continue for the foreseeable future.」
Both private-sector and government demand declined year on year, widening the overall market decline to 16.6%, while the outlook indicates that the plateau will continue over the full year. - FY2019Market up, plateau continuesAnnual report
「The domestic construction market overall has remained at a plateau since the fiscal year ending March 2014, and this is expected to continue for the next 2–3 years.」
Although the domestic construction market overall was said to have increased 7.1% in the current fiscal year, the outlook indicates that the plateau will continue for the next 2–3 years. - FY2019-Q3Decline in private-sector orders continues, overall decline widensAnnual report
「The domestic construction market also declined by △6.7% overall, as the reactionary decline in orders from government agencies that recorded large-scale construction work in the previous year was compounded by a continued decline in orders from private-sector companies. However, the construction market overall is expected to remain at a plateau for the foreseeable future.」
In addition to the reactionary decline in government orders, the decline in private-sector orders continued, widening the overall market decline from 5.7% to 6.7%, while the outlook indicates that the plateau will continue for the foreseeable future. - FY2019-Q2Private-sector orders down slightly, overall decline continuesAnnual report
「In the domestic construction market, in addition to a reactionary decline in orders from government agencies that recorded large-scale construction work in the previous year, orders from private-sector companies also turned slightly lower, bringing the overall market to △5.7%. However, the construction market overall is expected to remain at a plateau for the foreseeable future.」
In addition to a reactionary decline in large-scale government construction projects, private-sector orders also edged down, resulting in a 5.7% decline in the overall market, while the outlook indicates that the plateau will continue for the foreseeable future. - FY2019-Q1Market decline widens, plateau continuesAnnual report
「The construction market overall is expected to remain at a plateau for the foreseeable future.」
Although the domestic construction market overall declined 7.1% year on year, the outlook indicates that the plateau will continue for the foreseeable future. - FY2018Market down slightly, plateau continuesAnnual report
「Meanwhile, although private investment in the domestic construction market increased, public investment declined due in part to a reactionary decline following the concentration of large projects in the previous period, and the domestic construction market overall also edged down. Nevertheless, the market overall has remained at a plateau since fiscal 2013, and this is expected to continue for the next 2–3 years.」
Private investment increased, while the overall market edged down due to a reactionary decline in public investment. The outlook indicates that the plateau that has continued since fiscal 2013 will last for the next 2–3 years. - FY2018-Q3Private investment on an upward trend, overall market downAnnual report
「Meanwhile, although private investment in the domestic construction market is on an upward trend, public investment declined year on year due in part to a reactionary decline following the concentration of large projects in the same period of the previous fiscal year, and the market overall has also remained down. However, the construction market is expected to remain at a plateau for the next 2–3 years.」
Private investment was described as being on an upward trend, while public investment and the overall market declined year on year. The outlook that the construction market will remain at a plateau for the next 2–3 years has been reiterated. - FY2018-Q2Private investment up slightly, public investment down on a reactionary decline, overall market downAnnual report
「Meanwhile, although private investment in the domestic construction market edged up, public investment declined year on year due in part to a reactionary decline following the concentration of large projects in the same period of the previous fiscal year, and the market overall also declined. However, the construction market is expected to remain at a plateau for the next 2–3 years.」
The explanation has changed from both public and private investment being firm to one describing a slight increase in private investment, a reactionary decline in public investment and an overall market decline. At the same time, the outlook indicates that the plateau will continue for the next 2–3 years. - FY2018-Q1Private investment down, public investment strongAnnual report
「Although private investment declined, public investment was strong, and the construction market overall remained firm.」
The explanation has changed from both public and private investment being generally firm to a breakdown showing negative growth in private investment and strong public investment. - FY2017RestatedAnnual report
「The construction market remained broadly firm in both public- and private-sector investment.」
Restates the view that both public- and private-sector investment remain broadly firm. - FY2017-Q3RestatedAnnual report
「The construction market has remained broadly firm in both public- and private-sector investment.」
Restates the view that both public- and private-sector investment remain broadly firm. - FY2017-Q2RestatedAnnual report
「The construction market has remained broadly firm in both public- and private-sector investment.」
Restates the view that both public- and private-sector investment remain broadly firm. - FY2017-Q1First statedAnnual report
「The construction market has remained broadly firm in both public- and private-sector investment.」
Describes both public- and private-sector investment in the construction market during the first quarter as broadly firm.