Deterioration in the Order and Earnings Environment Due to Renewed Competition for Orders
First written in FY2017-Q1. 9 of 17 entries say "Worsened", first in FY2018. Latest entry: FY2024.
PS Construction moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2026: 38 of 84 companies on the "Worse" side.
107 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「In the building business, companies' appetite for capital investment remained firm, and a substantial backlog of construction work progressed smoothly, resulting in increases in both revenue and gross profit compared with the previous consolidated fiscal year. Order intake exceeded the initial plan due to winning construction projects such as condominiums and large medical facilities, as well as efforts to develop new customers.」
Although the recovery of the building market and growth in orders were indicated, the building business was still described as facing a difficult competitive environment, and the risk from competition for orders itself continues. - FY2024-Q1MitigatedAnnual report
「The building market, which had been subject to fierce competition for orders, has also settled down, and the market as a whole has remained stable without contracting, supported by companies' active private-sector capital investment.」
The company indicated that competition for orders in the building market, described through the previous fiscal year as “fierce” and “even more difficult,” had settled down. - FY2023WorsenedAnnual report
「Although private-sector capital investment steadily recovered from the COVID-19 crisis and the volume of orders in the building market increased, fierce price competition, together with higher labor, fuel and material costs, left the company facing continued significant earnings risk.」
Despite the recovery in the private-sector building market, earnings risk continues because of price competition and higher costs across the board. - FY2023-Q3WorsenedAnnual report
「Higher material and resource prices have increased construction costs, causing signs of weakening demand and intensifying competition for orders, making highly selective bidding essential to securing profitability.」
The disclosure states that fierce competition for orders has intensified further and that securing profitability has become a challenge. - FY2023-Q2WorsenedAnnual report
「Although orders for private-sector building projects in the building segment are on a recovery trend, fierce competition for orders and high material and resource prices have made securing profitability extremely difficult.」
Despite signs of recovery in orders for private-sector building construction, the disclosure states that fierce competition for orders has made it extremely difficult to secure profitability. - FY2022WorsenedAnnual report
「As for the business environment surrounding the company, there had been expectations that private-sector capital investment suspended during the COVID-19 crisis would resume, but fierce competition for orders began at the same time as the resumption,」
The company indicates that fierce competition for orders began at the same time as private-sector capital investment resumed, making the order environment even more difficult. - FY2022-Q3WorsenedAnnual report
「In addition to fierce competition for orders due to the prolonged infectious disease pandemic, the business environment surrounding the Group has seen the material price inflation risk become apparent, resulting in an extremely challenging phase not only for securing orders but also for executing construction work.」
The disclosure describes competition for orders as “fierce” against the backdrop of the prolonged infectious disease pandemic, and states that both order intake and the execution of construction work are in an extremely difficult phase. - FY2022-Q2RestatedAnnual report
「Fierce competition for orders continues as the building market rapidly contracts following the end of the Tokyo Olympics and Paralympics-related boom.」
The company continues to indicate that fierce competition for orders will persist against the backdrop of a shrinking building market. - FY2022-Q1RestatedAnnual report
「Companies' cautious stance toward capital investment remains unchanged from the previous fiscal year amid uncertain earnings prospects, and fierce competition continues for orders in the building business, which is primarily focused on private-sector construction.」
The difficult environment for order competition in the building business, which is primarily focused on private-sector construction, continues from the previous fiscal year. - FY2021WorsenedAnnual report
「In large-scale renewal and renovation projects, construction projects are tending to become larger and longer, while competition for orders has intensified as major general contractors and leading general contractors enter the market.」
In the large-scale renewal and renovation field, projects are becoming larger and longer, while the entry of major general contractors and leading general contractors continues, providing a clearer indication of intensifying competition for orders. - FY2021-Q3RestatedAnnual report
「Competition for private-sector construction orders has intensified, partly because companies have been restraining capital investment.」
The intensifying competition for private-sector construction orders against the backdrop of restrained corporate capital investment continues to be described as a concern in the business environment. - FY2021-Q1RestatedAnnual report
「In the construction industry in which our Group operates, the direct impact of the novel coronavirus disease has been relatively limited compared with other industries. Nevertheless, companies are inevitably becoming more cautious about capital investment as their business performance deteriorates, and competition for orders in the building construction business, which is focused mainly on private-sector projects, is intensifying.」
The disclosure continues to describe intense competition for private-sector construction orders. It also indicates a connection with companies taking a cautious approach to capital investment due to COVID-19, although the intensification of competition itself has been disclosed previously. - FY2020WorsenedAnnual report
「In large-scale renewal and repair projects, construction projects are tending to become larger and schedules longer. Competition for orders has intensified as major general contractors and leading general contractors have also entered the market.」
The company provides a more specific description of intensifying competition for orders in the large-scale renewal and repair field, citing larger and longer projects and the entry of major general contractors. - FY2020-Q2RestatedAnnual report
「In the construction industry in which our Group operates, construction investment, including disaster-prevention and disaster-mitigation measures and the development of aging infrastructure, remains firm. However, competition for orders is tending to intensify.」
The company continues to describe an order environment in which construction investment remains firm while competition for orders intensifies. - FY2019WorsenedAnnual report
「The peak in demand related to the Olympic and Paralympic Games has passed, and competition with other companies in the same industry has become increasingly intense.」
In the building construction business, the company describes the peak-out in Olympic-related demand and intensifying competition with peers in stronger terms than before. - FY2018WorsenedAnnual report
「In the building construction business, we pursued orders for PCaPC general-contractor projects and won a contract to construct the headquarters building of a global electrical-equipment manufacturer. However, competition for orders with other companies intensified, and orders received in the fiscal year ended March 2018 fell short of the target.」
The company states that intensified competition for orders with other companies caused orders received in the building construction business to fall short of the target for the fiscal year. - FY2017-Q1First statedAnnual report
「Concerns also remain about a renewed price war for orders, higher construction material and labor costs, and shortages of skilled workers, and the situation is expected to remain uncertain.」
The company has for the first time explicitly identified the renewed intensification of competition for orders as a risk in the construction environment, alongside rising material and labor costs and shortages of skilled workers.