Private construction investment weakens due to the reaction to rush orders ahead of the consumption tax increase
First written in FY2020-Q1. 1 of 3 entries say "Softened", first in FY2020-Q2. Latest entry: FY2020-Q3.
The whole theme swung hardest in 2026: 4 of 7 companies on the "Worse" side.
30 other companies' latest entry also says "Dropped".
- FY2020-Q3DroppedAnnual report
「Although housing construction has remained flat, private-sector construction investment has remained solid, driven by increased capital investment, including in factories and logistics facilities.」
This filing does not identify the specific risk of weakness in private-sector construction investment due to the reversal of the pull-forward in orders ahead of the consumption tax increase. Instead, it describes private-sector construction investment as solid, supported by increased capital investment in factories, logistics facilities and other areas. - FY2020-Q2SoftenedAnnual report
「Private-sector construction investment has maintained a solid trend. The increase in pull-forward orders through the end of the previous fiscal year in anticipation of the consumption tax increase secured a sufficient order backlog, while capital investment benefited from growing demand to rebuild factories, logistics facilities and other sites.」
The description has changed from weakness in private-sector construction investment due to the reversal of the pull-forward in orders noted in the previous quarter to secured order backlog supported by increased pull-forward orders and solid capital investment driven by demand to rebuild factories and logistics facilities. - FY2020-Q1First statedAnnual report
「Private-sector construction investment has remained weak, partly due to the reversal of the pull-forward in orders through the end of the previous fiscal year in anticipation of the consumption tax increase, but」
The filing states that the reversal of the pull-forward in orders through the end of the previous fiscal year in anticipation of the consumption tax increase has emerged as weakness in private-sector construction investment. This is a new short-term factor affecting private investment, distinct from the long-term demand risk following reconstruction and Olympic-related demand.