Risk of Declines in Government Construction Investment and Total Construction Investment
First written in FY2016. 21 of 32 entries say "Restated". Latest entry: FY2026.
Totetsu Kogyo moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 17 of 32 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Private-sector residential investment is expected to recover, while government construction investment and non-residential construction investment are expected to continue increasing, resulting in an expected year-on-year increase in overall construction investment.」
The outlook changed from the previous expectation of levels comparable with the prior year to a recovery in private-sector residential investment, continued increases in government and non-residential investment, and year-on-year growth in overall construction investment. - 2026-05-14MitigatedEarnings
「Private-sector residential investment is expected to recover, while government construction investment and non-residential construction investment are expected to continue increasing, resulting in an expected year-on-year increase in overall construction investment.」
建設投資全体について、前年度並み・減少方向の従来記載から、前年度比増加の予測へ変化した。 - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no material changes in the occurrence of major risks that management recognizes as potentially having a material impact on the financial position, operating results or cash flows of the consolidated companies, among the matters relating to the business conditions, financial position and other matters described in this interim report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The text stated that there had been no material changes in the principal risks related to declining construction investment or private-sector construction. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no material changes in the occurrence of major risks that management recognizes as potentially having a material impact on the financial position, operating results or cash flows of the consolidated companies, among the matters relating to the business conditions, financial position and other matters described in this interim report, or in the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2024WorsenedAnnual report
「Although private-sector residential construction investment is expected to exceed the previous fiscal year's level, government construction investment and non-residential construction investment are both expected to remain at the previous year's level, as is overall construction investment.」
The outlook in this filing changed from a slight increase in overall construction investment in the previous fiscal year to a level comparable with the previous year. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining government construction investment or overall construction investment. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining construction investment or private-sector construction. - FY2024-Q1RestatedAnnual report
「During the three-month period ended 30 June, there were no new risks that management recognizes as having the potential to materially affect the financial position, operating results or cash flows of the consolidated companies, and no material changes to the business risks described in the annual securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining government construction investment or overall construction investment. - FY2023MitigatedAnnual report
「Although government construction investment is expected to remain at the previous year's level, both private-sector residential and non-residential construction investment are expected to remain above the previous fiscal year's level, and overall construction investment is expected to increase slightly.」
The outlook is for government investment to remain at the previous year's level, private-sector residential and non-residential investment to exceed the previous fiscal year's level, and overall construction investment to increase slightly, representing an improvement from the previous period's actual decline and investment restraint. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining government construction investment or overall construction investment. - FY2023-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining construction investment or private-sector construction. - FY2022MaterialisedAnnual report
「As a result of restrained customer capital investment amid the spread of COVID-19 and other factors, orders received were ¥118,286 million (down ¥4,120 million year on year) and net sales were ¥114,718 million (down ¥18,201 million).」
Restrained customer capital investment and the decline in private-sector construction were reflected in lower orders received and net sales. - FY2022-Q3RestatedAnnual report
「Orders received were ¥80,097 million (down ¥9,778 million year on year), while net sales were ¥71,280 million (down ¥15,611 million). This was despite an increase in government construction, due to restrained customer capital investment amid the spread of COVID-19 and other factors, as well as a decline in private-sector construction resulting from delays in the progress of large building projects and other factors.」
Although government construction increased, orders received and net sales declined year on year because of the decline in private-sector construction. The impact of lower construction investment continued to be reflected in results from the previous quarter. - FY2022-Q2MaterialisedAnnual report
「For the cumulative second quarter, orders received were ¥46,812 million (down ¥2,797 million year on year), while net sales were ¥45,414 million (down ¥10,795 million), despite an increase in government construction, due to a decline in private-sector construction and other factors.」
The decline in private-sector construction was reflected as a factor behind lower net sales. Although government construction increased, orders received and net sales both declined year on year. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that management recognizes could materially affect the financial position, operating results and cash flows of the consolidated companies, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. It also stated that there were no material events or other such matters. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2020WorsenedAnnual report
「While government construction investment is expected to exceed the previous fiscal year's level, supported by disaster prevention and mitigation measures for natural disasters and impending major earthquakes, emergency measures to strengthen national resilience, and strategic measures to address aging infrastructure, the impact of the COVID-19 pandemic is intensifying downward pressure on personal consumption and corporate earnings, raising concerns about a significant downturn in private-sector construction investment.」
While the outlook for government construction investment was raised above the previous fiscal year's level, the text newly explicitly noted concerns that the pandemic could cause a significant downturn in private-sector construction investment. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2019MitigatedAnnual report
「Government construction investment is expected to increase year on year, private-sector residential investment is expected to remain at the previous fiscal year's level, and private-sector non-residential construction investment is expected to decline slightly year on year. Overall construction investment is therefore expected to increase slightly.」
The outlook for overall construction investment changed from flat to a slight increase. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2018MitigatedAnnual report
「Although investment related to the Tokyo Olympics and Paralympics and other projects remains anticipated, private-sector residential investment, private-sector non-residential construction investment and government construction investment are all expected to remain at the previous fiscal year's level, leaving overall construction investment broadly flat.」
The previous outlook called for an annual decline in overall construction investment, whereas the current outlook has changed to unchanged levels for both private-sector and government investment and a flat overall level. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining government construction investment or overall construction investment. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining government construction investment or overall construction investment. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining government construction investment or overall construction investment. - FY2017WorsenedAnnual report
「Although construction related to the Tokyo Olympics and Paralympics is entering full swing, private-sector residential investment, private-sector non-residential construction investment and government construction investment are all expected to decline, and overall construction investment is expected to fall below the previous fiscal year's level.」
While the previous fiscal year included expectations for a recovery in private-sector residential and non-residential investment, the outlook for the following fiscal year described declines in private-sector and government construction investment. - FY2017-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text stated that there had been no material changes in the risks of declining government construction investment or overall construction investment. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The text states that there have been no material changes in the risks of declining government construction investment or overall construction investment. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The text states that there have been no material changes in the risk of declining overall construction investment. - FY2016First statedAnnual report
「Although the decline in government construction investment is expected to continue, private-sector residential investment is expected to increase on measures to stimulate the market and other factors, while private-sector non-residential construction investment is expected to continue a gradual recovery. Overall construction investment, however, is expected to decline year on year.」
The text also identifies recession, a delayed recovery, and lower profitability and earning power resulting from intensified competition for orders as risks.