Contraction of the construction market and deterioration in the order environment
First written in FY2016. 11 of 34 entries say "Restated". Latest entry: 2026-07-29.
Nankai Tatsumura Construction 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: 22 of 37 companies on the "Worse" side.
21 other companies' latest entry also says "Restated".
- 2026-07-29RestatedEarnings
「しかしながら、建設技術者や技能労働者の減少と高齢化が進んでおり、業界を取り巻く環境は厳しい状況が続いております。」
建設技術者・技能労働者の減少と高齢化、厳しい業界環境について、前回の認識を継続している。 - FY2026WorsenedAnnual report
「The number of construction engineers and skilled workers is declining and the workforce is aging, and the environment surrounding the industry is expected to become increasingly challenging.」
It explicitly cites the shortage, declining number and aging of construction engineers and skilled workers, and indicates that the industry environment is expected to become increasingly challenging. - FY2026-H1Private-sector capital investment recovers, while costs and labor supply-demand conditions remain a concernAnnual report
「During this period, public investment in the construction industry remained solid, partly due to the effects of supplementary budgets, and private-sector capital investment showed signs of recovery against a backdrop of solid corporate earnings. However, the challenging business environment continued due to persistently high construction material prices and tight labor supply and demand.」
It states that, while public investment remained solid and private-sector capital investment recovered, the challenging environment continued due to persistently high construction material prices and tight labor supply and demand. - FY2025-H1Emergence of compliance requirements for overtime work regulationsAnnual report
「During this period, public investment in the construction industry remained solid, partly due to the effects of supplementary budgets, but the environment surrounding the industry remained challenging as persistently high construction material prices, a chronic shortage of skilled workers and the need to address the overtime work cap regulations became apparent.」
It explains the challenging environment in the construction industry, stating that, in addition to the persistently high construction material prices and shortage of skilled workers seen previously, the need to address the overtime work cap regulations has become apparent. - FY2024-Q3RestatedAnnual report
「During this period, public investment in the construction industry remained firm, partly due to the effects of supplementary budgets, but the environment surrounding the industry remained challenging as competition for orders intensified, in addition to rising construction costs caused by persistently high construction material prices and a chronic shortage of workers.」
It reiterates the view that a challenging industry environment will continue due to persistently high construction material prices, rising construction costs associated with a chronic shortage of workers, and intensifying competition for orders, while acknowledging the resilience of public investment. - FY2024-Q2WorsenedAnnual report
「During this period, public investment in the construction industry remained solid due to the execution of related budgets, but a challenging business environment continued as surging construction material prices, intensifying competition for orders and a shortage of workers became apparent.」
It continues to describe a challenging environment in the construction industry, stating that a shortage of workers has become apparent in addition to surging construction material prices and intensifying competition for orders, despite solid public investment. - FY2024-Q1RestatedAnnual report
「During this period, public investment in the construction industry remained firm, but the challenging business environment continued, partly due to rising construction costs, including construction material prices.」
It reiterates that, despite firm public investment, the challenging environment in the construction industry will continue due to the impact of rising construction costs. - FY2023WorsenedAnnual report
「In addition, private-sector construction investment plans in the construction industry slowed against a backdrop of rising prices, while public investment is expected to remain firm. However, the environment surrounding the industry is expected to become increasingly challenging due to a chronic shortage of skilled construction workers and other factors.」
The assessment has shifted from the upward trend in private-sector building investment through the previous quarter to a view that private-sector construction investment plans will slow against a backdrop of rising prices, with the industry environment expected to become increasingly challenging. - FY2023-Q3Private-sector building investment increases alongside a challenging environmentAnnual report
「During this period, public investment in the construction industry remained firm, and private-sector building investment was on an upward trend. However, the environment surrounding the industry remained challenging due to rising construction material prices, intensifying competition for orders and a chronic shortage of skilled workers.」
It states that, in addition to firm public investment, private-sector building investment was on an upward trend, while the industry environment remained challenging due to rising construction material prices, intensifying competition for orders and a chronic shortage of skilled workers. - FY2023-Q2WorsenedAnnual report
「During this period, public investment remained firm as a result of measures to strengthen national resilience, but rising construction material prices and intensifying competition for orders became apparent, requiring close monitoring of their impact on the business environment.」
It is increasingly cautious about the construction industry's order environment, stating that rising construction material prices and intensifying competition for orders have become apparent despite firm public investment. - FY2023-Q1RestatedAnnual report
「During this period, public investment in the construction industry remained firm, but the challenging business environment continued as competition for orders intensified and construction material prices continued to rise.」
It reiterates that, despite firm public investment, the construction industry remains in a challenging environment as competition for orders intensifies and construction material prices continue to rise. - FY2022WorsenedAnnual report
「As public investment is expected to remain weak, the industry environment is expected to become increasingly challenging as competition for orders intensifies.」
It indicates that the outlook for the industry environment will become more challenging as public investment weakens and competition for orders intensifies, despite signs of a recovery in private-sector construction investment. - FY2022-Q3RestatedAnnual report
「During this period, public investment in the construction industry remained solid, but the challenging business environment continued due to intensifying competition for orders and rising labor costs and construction material prices.」
It continues to describe a challenging business environment resulting from intensifying competition for orders and rising labor costs and construction material prices, despite solid public investment. - FY2022-Q2WorsenedAnnual report
「During this period, public investment in the construction industry remained firm, but a challenging business environment continued as competition for orders intensified and labor costs and construction material prices increased.」
It acknowledges the resilience of public investment while explicitly citing intensifying competition for orders and rising labor costs and construction material prices, and states that the challenging business environment will continue. - FY2022-Q1Public investment remains solid, while competition for orders intensifiesAnnual report
「During this period, public investment in the construction industry remained firm, while the business environment continued to be exposed to risks, including intensifying competition for orders.」
It explicitly identifies intensifying competition for orders as a risk, despite firm public investment. - FY2021-Q3WorsenedAnnual report
「During this period, the construction industry saw public investment remain solid, but private-sector construction investment plans weakened as corporate earnings declined, and the order environment became increasingly challenging.」
It states that, while public investment remains solid, private-sector construction investment plans have weakened, making the order environment even more challenging than before. - FY2021-Q2WorsenedAnnual report
「During this period, the construction industry saw public investment remain solid, but private-sector construction investment weakened as corporate earnings declined significantly and uncertainty over the outlook increased, while the order environment became increasingly challenging.」
It states that, while public investment remains solid, private-sector construction investment has weakened against a backdrop of a significant decline in corporate earnings and uncertainty over the outlook, making the order environment even more challenging. - FY2021-Q1WorsenedAnnual report
「During this period, although public investment remained firm, private construction investment weakened and the order environment became increasingly challenging due to declining corporate earnings and heightened uncertainty about the outlook.」
It states that, while public investment remains firm, private-sector construction investment has weakened against a backdrop of declining corporate earnings and uncertainty over the outlook, making the order environment more challenging than before. - FY2020Addition of infection-related risk of deterioration in the order environmentAnnual report
「In addition, if the spread of COVID-19 causes the order environment to deteriorate, this could affect the Group’s business performance, although it is difficult to reasonably calculate the impact on business performance.」
In addition to the risk of a contraction in the construction market, deterioration in the order environment due to the spread of COVID-19 has been added as a specific factor. - FY2020-Q3RestatedAnnual report
「During this period, public investment remained solid, but the business environment continued to be far from reassuring due to the chronic shortage of skilled construction workers and persistently high construction material prices.」
While describing public investment as solid, it continues to recognize that the business environment remains far from reassuring due to the shortage of skilled construction workers and persistently high construction material prices. - FY2020-Q2Improvement in public investment and scheduled construction expenditure alongside cost concernsAnnual report
「During this period, public investment became increasingly firm, and some indicators showed a gradual increase in companies’ scheduled construction expenditure. On the other hand, the shortage of skilled construction workers and persistently high construction material prices continued, leaving the business environment far from reassuring.」
While indicating improvement in public investment and scheduled construction expenditure, it continues to caution against the shortage of skilled construction workers and persistently high construction material prices. - FY2020-Q1Weakness in capital investment alongside firm public investmentAnnual report
「During this period, some indicators showed weakness in corporate capital investment, while public investment remained firm. However, the shortage of skilled construction workers and persistently high construction material prices continued, leaving the business environment far from reassuring.」
It states that public investment remains firm while some indicators point to weakness in corporate capital investment, and continues to caution against the shortage of skilled construction workers and persistently high construction material prices. - FY2019-Q3Favorable orders alongside weakness in public investmentAnnual report
「During this period, the order environment remained favorable against a backdrop of firm construction investment. However, the business environment remained far from reassuring as the shortage of skilled construction workers and persistently high construction material prices continued, and some indicators showed that public investment had recently weakened.」
While stating that the favorable order environment continues, it adds the shortage of skilled construction workers, persistently high construction material prices, and indicators of weakening public investment as additional factors warranting caution. - FY2019-Q2Continued favorable order environmentAnnual report
「During this period, the order environment remained favorable against a backdrop of firm construction investment. However, the business environment remained far from reassuring as the shortage of skilled construction workers persisted.」
While stating that the favorable order environment continues against a backdrop of firm construction investment, it describes the business environment as less than reassuring due to the shortage of skilled construction workers. - FY2019-Q1RestatedAnnual report
「During this period, construction investment remained firm, but the shortage of skilled construction workers showed no signs of improvement and construction material prices remained elevated, leaving the business environment in need of continued close monitoring.」
It states that, although construction investment remains firm, the business environment continues to require close monitoring due to the shortage of workers and persistently high material prices. - FY2018Favorable order environment alongside contraction riskAnnual report
「Although the order environment remained favorable as public and private investment continued to be solid, the business environment continued to require close monitoring due to soaring labor costs caused by a shortage of skilled construction workers and persistently high construction material prices.」
While the order environment was described as favorable, the risk of a significant contraction in the construction market continues to be stated in the risk section. - FY2018-Q3Signs of improvement, but continued cautionAnnual report
「Against a backdrop of firm construction investment, the order environment showed signs of improvement. However, with construction costs remaining elevated due to a serious shortage of skilled construction workers, the business environment remained far from reassuring.」
While pointing to signs of improvement in the order environment against a backdrop of firm construction investment, it continues to describe the situation as less than reassuring due to the shortage of skilled construction workers and persistently high construction costs. - FY2018-Q2SoftenedAnnual report
「During this period, the order environment was generally favorable as public and private investment remained solid. However, the business environment remained far from reassuring, as the shortage of construction workers remained unresolved and material prices showed signs of rising.」
The order environment is described as generally favorable due to solid public and private investment, weakening the previous references to deterioration in the order environment and market contraction. Concerns over securing workers and rising material prices remain. - FY2018-Q1RestatedAnnual report
「During this period, the construction industry continued to operate in a business environment that could not be viewed with optimism, despite firm market conditions, due to risks including rising labor costs caused by a shortage of skilled construction workers and intensifying competition for orders.」
While describing market conditions as firm, it continues to cite risks arising from the shortage of workers, rising labor costs, and intensifying competition for orders. - FY2017RestatedAnnual report
「During this period, public and private construction investment remained firm and market conditions for the industry began to improve. At the same time, the business environment continued to contain risks, including rising labor costs caused by the chronic shortage of skilled construction workers and intensifying competition for orders.」
While acknowledging the improvement in market conditions, it continues to point to order-environment risks from the shortage of workers, rising labor costs, and intensifying competition for orders. - FY2017-Q3RestatedAnnual report
「During this period, the construction industry continued to face a challenging business environment due to soaring labor costs caused by the increasingly chronic shortage of construction workers across the industry and intensifying competition for orders.」
It continues to describe a challenging order environment caused by a shortage of construction workers, rising labor costs, and intensifying competition for orders. - FY2017-Q2RestatedAnnual report
「During this period, the construction industry continued to face a challenging business environment amid intensifying competition for orders and persistently high labor costs caused by a shortage of skilled construction workers.」
It reiterates that the order environment remains challenging due to intensifying competition for orders. - FY2017-Q1WorsenedAnnual report
「The construction industry has continued to face a challenging business environment due to the impact of higher labor costs caused by the persistent shortage of skilled construction workers and intensifying competition for orders.」
The filing explicitly states that competition for orders has intensified, giving concrete form to the risk of deterioration in the order environment. - FY2016First statedAnnual report
「The Group is working to build a management foundation capable of withstanding a decline in order volume by reviewing its construction cost management framework and taking other measures. However, if the construction market contracts significantly due to deterioration in the order environment or other factors, this could affect the Group’s business performance.」
Assuming a contraction of the market, the Company identifies a review of its construction cost management framework as a response measure.