Fluctuations in the domestic construction market
First written in FY2016. 16 of 28 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2020: 26 of 48 companies on the "Worse" side.
19 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「Although the impact of soaring equipment and material prices and rising labor costs continues to require attention in the construction market, public investment has remained resilient. Robust construction demand is expected to continue, supported by disaster prevention and mitigation measures under the First National Resilience Implementation Medium-Term Plan approved by the Cabinet in June 2025, as well as security-related infrastructure development associated with strengthening defense capabilities.」
The view continues that, despite caution over rising equipment and material prices and labor costs, construction demand supported by public investment, national resilience initiatives and defense-related infrastructure will remain firm. - FY2026-H1RestatedAnnual report
「Although the impact of soaring prices for materials and equipment and rising labor costs still requires close monitoring, public investment continues to progress steadily. The market is expected to grow steadily over the longer term, supported by the “Five-Year Acceleration Plan for Disaster Prevention and Mitigation and National Resilience” for fiscal 2021 through fiscal 2025, disaster prevention and mitigation measures under the “First Medium-Term Plan for Implementing National Resilience,” approved by the Cabinet in June 2025, and security-related infrastructure development associated with strengthening defense capabilities.」
Caution over rising equipment and material prices and labor costs continues, alongside a firm market outlook supported by public investment, disaster prevention and mitigation, national resilience initiatives and defense-related infrastructure. - FY2025-H1RestatedAnnual report
「Although the construction market was affected by rising prices, including for materials, public investment progressed steadily. The market is expected to remain firm, supported by disaster prevention and mitigation measures under the “Five-Year Acceleration Plan for Disaster Prevention and Mitigation and National Resilience” for fiscal 2021 through fiscal 2025, as well as security-related infrastructure development associated with strengthening defense capabilities.」
While affected by rising prices for materials and other goods, the market view continues to be that public investment, disaster prevention and mitigation, national resilience initiatives and defense-related infrastructure demand remain firm. - FY2024-Q2Public and defense-related demand firm despite rising pricesAnnual report
「Although the construction market has been affected by rising prices, including for materials, public investment has remained firm. Going forward, resilient performance is expected from disaster prevention and mitigation measures under the Five-Year Accelerated Measures for Disaster Prevention and Mitigation and National Resilience, as well as security-related infrastructure development associated with strengthening defense capabilities.」
While affected by rising prices for materials and other goods, public investment, national resilience initiatives and infrastructure development associated with strengthening defense capabilities are identified as sources of firm demand. - FY2023Uncertainty in the construction market and demand for defense and national resilienceAnnual report
「Although the outlook remains uncertain due to intensifying competition for orders, particularly for large-scale projects, and concerns about deteriorating corporate earnings caused by soaring raw material prices and other factors, public investment has remained firm. Going forward, resilient demand is expected from disaster prevention and mitigation measures under the Five-Year Accelerated Measures for Disaster Prevention and Mitigation and National Resilience, as well as security-related infrastructure development associated with strengthening defense capabilities.」
While concerns about competition for large-scale construction projects and deteriorating corporate earnings due to soaring raw material prices were identified, infrastructure development associated with national resilience and strengthening defense capabilities was added as a source of resilient demand. - FY2023-Q3RestatedAnnual report
「However, in the construction industry, although private-sector construction investment declined due to sluggish domestic economic conditions, government construction investment progressed steadily, and conditions are expected to support a firm market going forward through disaster prevention and mitigation measures and infrastructure development under the “Five-Year Acceleration Plan for Disaster Prevention and Mitigation and National Resilience.”」
The market view continues to be that private construction investment is declining, while government construction investment and investment related to national resilience remain resilient. - FY2023-Q2RestatedAnnual report
「However, in the construction industry, although private-sector construction investment declined due to sluggish domestic economic conditions, government construction investment progressed steadily, and conditions are expected to support a firm market going forward through disaster prevention and mitigation measures and infrastructure development under the “Five-Year Acceleration Plan for Disaster Prevention and Mitigation and National Resilience.”」
The domestic market view continues to be that private construction investment is declining, while government construction investment and investment related to national resilience remain resilient. - FY2023-Q1RestatedAnnual report
「However, in the construction industry, although private-sector construction investment remains uncertain, public investment is progressing steadily, and conditions are expected to support a firm market going forward through disaster prevention and mitigation measures and infrastructure development under the “Five-Year Acceleration Plan for Disaster Prevention and Mitigation and National Resilience.”」
The market view continues to be that private construction investment is uncertain, while public investment and investment related to national resilience remain resilient. - FY2022RestatedAnnual report
「However, in the construction industry, while private construction investment remains uncertain, public investment has remained firm, and resilient performance is expected going forward from disaster prevention and mitigation measures, infrastructure development and other initiatives under the Five-Year Accelerated Measures for Disaster Prevention and Mitigation and National Resilience.」
The market view continues to be that private construction investment is uncertain, while public investment and investment related to national resilience remain resilient. - FY2022-Q3RestatedAnnual report
「In the construction industry, private construction investment declined due to the sluggish domestic economy, although government construction investment is expected to remain resilient. Globally, however, the number of COVID-19 cases began to rise again, and in some countries construction projects have been delayed in getting started.」
The domestic market view of declining private construction investment and resilient government construction investment continues. - FY2022-Q2RestatedAnnual report
「In the construction industry, although private-sector construction investment declined due to sluggish domestic economic conditions, government construction investment is expected to remain firm.」
Expectations continue to be expressed for declining private construction investment and resilient government construction investment. - FY2022-Q1RestatedAnnual report
「In the construction industry, although private-sector construction investment declined due to sluggish domestic economic conditions, public investment progressed steadily. With the “Five-Year Acceleration Plan for Disaster Prevention and Mitigation and National Resilience” also approved by the Cabinet for the period ahead, conditions are expected to support a firm market.」
The outlook continues to be presented as resilient, against the backdrop of concerns about declining private construction investment, firm public investment and national resilience measures. - FY2021-Q3Government investment plans take concrete form; concerns about declining private investmentAnnual report
「In the construction industry, although a decline in private construction investment due to the downturn in the domestic real economy is a concern, government construction investment is expected to remain firm, following the Cabinet's approval on 11 December 2020 of the Five-Year Accelerated Measures for Disaster Prevention and Mitigation and National Resilience, with a budget of approximately ¥15 trillion over 5 years.」
While concerns about a decline in private construction investment continue, the government's national resilience measures, with a budget of approximately ¥15 trillion over 5 years, have been presented, and government construction investment is expected to remain firm. - FY2021-Q2RestatedAnnual report
「In the construction industry, although there are concerns that private-sector construction investment may decline as a result of a downturn in Japan’s real economy, government construction investment continues to progress steadily.」
Following the previous quarter, the disclosure cites concerns about a decline in private construction investment against the backdrop of the downturn in the domestic real economy caused by COVID-19, while government construction investment remains firm. - FY2021-Q1WorsenedAnnual report
「In the construction industry, although there are concerns that private-sector construction investment may decline as a result of a downturn in Japan’s real economy, government construction investment continues to progress steadily.」
Against the backdrop of a downturn in the domestic real economy caused by COVID-19, concerns about a decline in private construction investment were explicitly stated. Government construction investment was considered firm. - FY2020-Q3RestatedAnnual report
「Although both public and private investment in the domestic construction market are progressing steadily, conditions requiring close monitoring of the supply and demand situation for skilled workers and other factors continue.」
While public and private investment is viewed as firm, the supply-demand situation for skilled workers remains an area requiring close attention. - FY2020-Q2RestatedAnnual report
「In the domestic construction market, public investment is progressing steadily, centered on disaster prevention and mitigation and the maintenance and renewal of social infrastructure in response to aging facilities. Private investment is expected to remain firm, supported by stronger corporate earnings and tax reforms.」
The market view that public investment, including disaster prevention and mitigation and the maintenance and renewal of social infrastructure, and private investment would remain resilient continued. - FY2020-Q1Government investment in disaster prevention and mitigation takes concrete formAnnual report
「In the domestic construction market, the government’s construction investment is expected to remain at relatively high levels, with intensive measures being implemented under the “Three-Year Emergency Measures for Disaster Prevention and Mitigation and National Resilience (approved by the Cabinet on 14 December 2018)” to maintain the functions of critical infrastructure and other facilities, with total project costs of approximately ¥7 trillion as a guideline for the three years from fiscal 2018 through fiscal 2020. Demand related to the Tokyo Olympic and Paralympic Games is also expected to continue.」
Specific disaster prevention, disaster mitigation and national resilience measures were presented as the backdrop to high levels of government construction investment: a 3-year program from fiscal 2018 through fiscal 2020 with total project costs of approximately ¥7 trillion as a guideline. - FY2019Public and private investment continue to remain resilientAnnual report
「In the domestic construction market, public investment remained firm, particularly in disaster prevention and mitigation and in the maintenance and renewal of aging social infrastructure. Private investment remained resilient, supported by higher corporate earnings and tax reforms.」
The market view that public and private investment remained firm and resilient was presented. - FY2019-Q3Firm outlook for public and private investmentAnnual report
「In the domestic construction market, public investment remains at relatively high levels, while private-sector capital investment is expected to exceed the previous fiscal year, supported by improved corporate earnings and other factors.」
Public investment is expected to remain at a high level, while private-sector capital expenditure is forecast to exceed the previous fiscal year's level. - FY2019-Q2Public and private investment firm; skilled worker shortages continueAnnual report
「In the domestic construction market, shortages of skilled workers remain a major challenge, but public investment remains at relatively high levels, and private-sector capital investment is increasing against the backdrop of improved corporate earnings and other factors. The market is expected to remain firm going forward.」
While shortages of skilled workers remain an issue, public investment and private capital expenditure are increasing and remain at high levels, and the domestic construction market is expected to remain resilient. - FY2019-Q1RestatedAnnual report
「In the domestic construction market, government and private-sector construction investment, including investment related to the Olympics, is expected to remain at relatively high levels. At the same time, challenges such as intensifying competition for orders and shortages of skilled workers continue.」
While government and private construction investment is expected to remain at high levels, competition for orders has intensified and shortages of skilled workers continue. - FY2018-Q3Public and non-residential investment firm; residential investment slightly lowerAnnual report
「In the domestic construction market, private-sector residential investment showed a slight decline, but non-residential investment and government construction investment are expected to exceed the previous fiscal year, and the market as a whole is expected to remain firm.」
While residential investment is expected to decline slightly, non-residential investment and government construction investment are forecast to exceed the previous fiscal year's levels, indicating that the domestic construction market as a whole remains resilient. - FY2018-Q2Improved construction investment outlook, with material and labor costs and skilled worker shortages continuingAnnual report
「Public investment has remained firm, while private construction investment has also been supported by stronger corporate earnings and other factors, increasing demand for capital expenditure, and is expected to remain resilient. At the same time, attention must be paid to the continuing upward trend in construction material prices and labor cost rates, as well as shortages of skilled workers.」
While public investment and private construction investment are expected to remain resilient, rising construction material prices and labor cost rates and shortages of skilled workers continue to be identified as risks. - FY2018-Q1Improved market outlook, with competition and labor cost risks continuingAnnual report
「In the domestic construction market, demand related to the Olympics and other projects gained momentum, and both government and private-sector construction investment is expected to increase, supported by solid public investment and a recovery in capital investment. However, the operating environment remains uncertain, with competition for orders intensifying and labor costs continuing to rise.」
While an increase in public and private construction investment is expected, competition for orders and rising labor costs continue, indicating both an improved market outlook and ongoing risks. - FY2017-Q3RestatedAnnual report
「In the domestic construction market, public investment and private-sector capital investment remained firm, but the difficult operating environment continued, including ongoing intensification of competition for orders.」
While public investment and private capital expenditure remain resilient, competition for orders has intensified and difficult market conditions continue. - FY2017-Q2RestatedAnnual report
「In the domestic construction market, public investment remained solid and signs of a recovery emerged in private-sector capital investment, but the operating environment remains uncertain, with competition for orders intensifying.」
The domestic construction market is described as continuing to be affected by trends in public investment and private capital expenditure, with intensifying competition for orders. - FY2016First statedAnnual report
「The domestic construction business, which accounts for a major portion of the Group’s net sales, may be affected by trends in public investment and private-sector capital investment in Japan.」
Dependence on public investment and private capital expenditure in the domestic construction business is identified as a risk.