Cuts to Public Investment and Declining Private Housing Demand
First written in FY2016. 15 of 30 entries say "Restated". Latest entry: 2026-08-05.
Takamatsu Construction Group moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 17 of 32 companies on the "Worse" side.
18 other companies' latest entry also says "Restated".
- 2026-08-05RestatedEarnings presentation
「なお、本業績予想には直近の中東情勢緊迫化を受けた原油価格高騰などの影響については、現時点で先行きが不透明な状況のため、織り込んでいない。」
中東情勢の緊迫化や原油価格高騰を受注環境の不確実要因として示し、その影響を業績予想には織り込んでいないと記載している。 - FY2026WorsenedAnnual report
「Uncertainty remains regarding the outlook, including concerns over crude oil supplies arising from the situation in the Middle East and developments in the US administration's tariff policies.」
In addition to risks related to public investment and housing demand, it adds the situation in the Middle East, concerns over crude oil supplies and US tariff policy as sources of uncertainty in the order environment. - 2026-05-13RestatedEarnings
「今後の金利上昇の可能性や建設コストの高止まり、実質賃金の伸び悩み等を背景に、需要の先行きについては慎重な見方が続いております。」
住宅需要の先行きに関する従来の懸念要因を再確認している。 - FY2025WorsenedAnnual report
「Construction material prices have also risen due to shortages and price increases for raw materials and energy, including crude oil, worldwide, as well as the impact of the weaker yen. … If higher material prices and other construction cost increases reduce investment appetite and, ultimately, higher prices reduce appetite for acquiring housing, this could lead to lower orders and affect the performance and financial condition of the Group.」
In addition to the existing risks related to public investment and private housing demand, it adds shortages of raw materials and energy, the weaker yen, and reduced appetite for investment and home purchases resulting from higher construction costs. - FY2025-H1WorsenedAnnual report
「In the detached housing market, government housing support measures have continued and variable mortgage rates have remained low, but the outlook is not optimistic due to possible future interest rate increases, higher home-sale prices resulting from persistently high construction costs, and sluggish real wage growth.」
While citing housing support measures and low variable mortgage rates, it identifies future interest rate increases, high construction costs, soaring housing prices and sluggish real wage growth as new concerns. - FY2024MaterialisedAnnual report
「Regarding private residential investment, government housing support measures have continued and variable mortgage rates have remained stable at low levels, while fixed rates have risen. Given the impact of persistently high construction costs on housing prices, new housing starts have continued to trend downward.」
It states that new housing starts have continued to trend downward against a backdrop of higher fixed mortgage rates, rising housing prices and persistently high construction costs. - FY2024-Q3MaterialisedAnnual report
「Regarding private residential investment, government housing support measures have continued and variable mortgage rates have remained stable at low levels, while fixed rates have risen. Given the impact of persistently high construction costs on housing prices, new housing starts have continued to trend downward.」
It states that new housing starts have continued to trend downward against a backdrop of higher fixed mortgage rates and persistently high construction costs. - FY2024-Q2MaterialisedAnnual report
「Regarding private residential investment, variable mortgage rates remained low while fixed rates rose, and housing prices continued to increase due to higher construction material and equipment prices. As a result, new housing starts in August 2023 declined for the 3rd consecutive month.」
It states that new housing starts declined for the 3rd consecutive month against a backdrop of higher fixed mortgage rates and housing prices. - FY2024-Q1MaterialisedAnnual report
「Regarding private residential investment, in addition to the upward trend in fixed mortgage rates, housing prices have been rising due to higher construction material and equipment prices. As a result, average new housing starts from April to May 2023 were below the January-to-March average, excluding built-for-sale detached houses.」
It states that new housing starts, excluding built-for-sale detached houses, actually declined against a backdrop of higher mortgage rates and housing prices. - FY2023-Q3MitigatedAnnual report
「In private residential investment, although the number of new housing starts for owner-occupied homes has declined, rental housing has been trending upward and overall demand has remained firm. However, construction costs are a concern due to higher material and equipment prices and tight labor supply, requiring close monitoring of developments.」
It was recognized that, while new housing starts for owner-occupied homes had declined, rental housing was trending upward and private residential investment overall remained firm, indicating that the risk of weaker demand had eased. - FY2023-Q2MaterialisedAnnual report
「Private residential investment remained weak, with new housing starts declining for 3 consecutive months year on year on a monthly basis from May 2022.」
Regarding demand for private housing, the number of new housing starts declined year on year for 3 consecutive months from May 2022, with the decline in demand documented as an actual result. - FY2022-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2022-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2021WorsenedAnnual report
「Private construction investment is expected to decline substantially due to weaker investment appetite.」
A substantial decline in private construction investment is explicitly forecast against the backdrop of the spread of COVID-19. - FY2021-Q3MaterialisedAnnual report
「In the construction industry, public construction investment remained relatively firm, but private construction investment was sluggish as companies' deteriorating performance and other factors reduced their investment appetite.」
Weak private construction investment is described as an actual business-environment condition this quarter, reflecting reduced investment appetite due to deteriorating corporate performance and other factors. - FY2021-Q2MaterialisedAnnual report
「Because business meetings with new individual customers were conducted mainly online or by telephone through partway into the second quarter, it took longer to close deals, resulting in sluggish orders for private-sector construction compared with the previous fiscal year.」
The decline in private-sector construction demand is reflected specifically in sluggish orders resulting from changes in the way business meetings with individual customers were conducted and longer sales cycles. - FY2021-Q1MaterialisedAnnual report
「Visits to new individual customers were curtailed, while business meetings with existing customers continued online or by telephone. Corporate customers also experienced delays in placing orders due to an increase in working from home through telework and other arrangements, as well as orders being postponed due to the economic deterioration.」
The spread of the infection and economic deterioration have in fact caused delays in order processing and the postponement of orders by individual and corporate customers. - FY2020WorsenedAnnual report
「The impact of various requests to refrain from activities aimed at preventing the spread of COVID-19 is expected to result in declines in private capital investment and residential investment in Japan.」
The spread of COVID-19 is specifically added as a factor behind declines in private capital investment and residential investment. - FY2019RestatedAnnual report
「If private capital investment or residential investment declines due to uncertainty surrounding domestic and overseas economic conditions, or if public investment declines as part of fiscal consolidation efforts, this could affect business performance.」
The risk that declines in private investment, residential investment and public investment will affect business performance is reaffirmed. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2019-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2019-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2018-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2017RestatedAnnual report
「If public investment is cut by more than expected, or if demand for private housing construction declines substantially, this could affect business performance.」
The risk that cuts in public investment and declining private housing demand will affect business performance continues to be cited. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2017-Q2RestatedAnnual report
「There have been no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2017-Q1RestatedAnnual report
「There have been no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No material change is reported in the risk of cuts in public investment and declining private housing demand. - FY2016First statedAnnual report
「If public investment is cut by more than expected, or if demand for private housing construction declines substantially, this could affect business performance.」
The impact on business performance of changes in demand for public investment and private housing construction is anticipated.