Risk of Construction-Market Volatility, Including Lower Public Investment
First written in FY2016. 17 of 33 entries say "Restated". Latest entry: 2026-08-06.
Wakachiku Construction moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2020: 19 of 35 companies on the "Worse" side.
18 other companies' latest entry also says "Restated".
- 2026-08-06RestatedEarnings
「The outlook for the global economy remains uncertain due to disruptions to supply chains caused by crude oil supply constraints and shortages of materials resulting from geopolitical risks associated with tensions between the United States and Iran in the Middle East, increasing uncertainty arising from U.S. economic and trade policies, rising interest rates, fluctuations in foreign exchange markets and climate change.」
Geopolitical risks, trade policy, interest rates, foreign exchange and climate change continue to be cited as sources of uncertainty. - FY2026WorsenedAnnual report
「Meanwhile, the outlook for the global economy remains highly uncertain due to supply chain disruptions resulting from the impact on energy and materials of geopolitical risks, including disruptions to crude oil supplies and maritime transport arising from tensions between the United States and Iran in the Middle East, as well as heightened uncertainty arising from US economic and trade policy, trends in Bank of Japan interest rates, foreign exchange fluctuations, rising prices, and climate change.」
In addition to conventional economic, policy, and geopolitical risks, it lists the situation in the Middle East, crude oil supplies and maritime transport, US trade policy, interest rates, foreign exchange, and prices, broadening the sources of uncertainty. - 2026-05-14RestatedEarnings
「Although both public investment and private-sector capital investment have remained firm, it is necessary to closely monitor construction-material supply trends amid global turmoil. Continued efforts are also required to address industry challenges, including surging construction-material prices and labor shortages caused by a declining working-age population.」
The investment environment is described as firm, while material supplies, rising prices and labor shortages continue to be identified as industry challenges. - FY2026-H1RestatedAnnual report
「Meanwhile, attention needs to be paid to heightened uncertainty arising from domestic political conditions and US economic and trade policy, interest rate trends accompanying the Bank of Japan's normalization of monetary policy, and the impact of rising prices. In addition, circumstances continue to require close monitoring of factors weighing on economic activity, including geopolitical risks, concerns over a slowdown in the global economy, and climate change.」
While describing corporate capital investment as solid, it continues to list domestic politics, US economic and trade policy, interest rates, prices, geopolitics, a global economic slowdown, and climate change as factors weighing on economic activity. - FY2025WorsenedAnnual report
「During the consolidated fiscal year, Japan's economy remained on a gradual recovery track as personal consumption picked up against a backdrop of rising wages and inbound demand continued to recover, while corporate capital investment also recovered moderately. Going forward, attention will need to be paid to heightened uncertainty resulting from developments in US politics and changes in economic and trade policy, interest rate trends accompanying the Bank of Japan's normalization of monetary policy, and the impact of rising crude oil prices on inflation. Continued attention is also required for factors weighing on economic activity, including geopolitical risks, concerns over a slowdown in the global economy, and climate change.」
While describing the market environment as being on a recovery track, it lists US political and trade policy, interest rates, crude oil prices, geopolitics, a global economic slowdown, and climate change as new matters requiring attention. - FY2025-H1WorsenedAnnual report
「In the construction industry, both public investment and private capital investment remain solid, but the impact of rising construction prices and tight labor supply and demand resulting from the declining working-age population needs to be monitored.」
While describing public and private capital investment as solid, it explicitly identifies rising construction prices and tight labor supply and demand as matters requiring attention in the construction market. - FY2024-Q3Addition of the 2024 issue and factors driving cost increasesAnnual report
「In the construction industry, public investment is expected to remain firm, centered on disaster prevention and mitigation measures. Private construction investment remains solid, but the impact of rising labor and construction material costs and the 2024 issue on capital investment needs to be monitored.」
While identifying disaster prevention and mitigation as the priority area for public investment and private construction investment as solid, it explicitly cites rising labor and construction material costs and the impact of the 2024 issue on capital investment as matters requiring attention. - FY2024-Q2Update to priority areas for public investment and factors driving costs and curbs on investmentAnnual report
「In the construction industry, public investment is expected to remain resilient, mainly in disaster prevention and mitigation measures and the strengthening of defense facilities. Private-sector construction investment remains firm, but attention must also be paid to soaring labor and construction material costs and curbs on capital investment due to an economic downturn.」
For public investment, the Company identifies the strengthening of defense facilities, in addition to disaster prevention and mitigation, as a priority area. Meanwhile, although private-sector construction investment is described as firm, the Company continues to call attention to soaring labor and construction material costs and curbs on capital investment due to an economic downturn. - FY2024-Q1WorsenedAnnual report
「Private-sector construction investment has recovered as economic activity has picked up, but attention must also be paid to rising labor and construction material costs and curbs on capital investment due to an economic downturn.」
While indicating a recovery in private-sector construction investment, the Company explicitly adds soaring labor costs to the previously cited increase in construction material prices and continues to call attention to curbs on capital investment. - FY2023-Q3WorsenedAnnual report
「In the construction industry, public investment is expected to remain resilient, mainly in disaster prevention and mitigation. Private-sector construction investment has recovered against a backdrop of improving corporate earnings and other factors, but attention must be paid to soaring construction material prices and curbs on capital investment due to an economic downturn.」
While indicating a recovery in public investment and private-sector construction investment, the Company newly identifies soaring construction material prices and curbs on capital investment due to an economic downturn as matters requiring attention. - FY2023-Q2RestatedAnnual report
「In the construction industry, public investment remained resilient. Meanwhile, private-sector construction investment recovered against a backdrop of improving corporate earnings and other factors.」
The Company continues to describe resilient public investment and a recovery in private-sector construction investment. - FY2022MitigatedAnnual report
「In the construction industry, public investment remained resilient. Meanwhile, private-sector construction investment, although affected by the COVID-19 pandemic, recovered against a backdrop of the resumption of economic activity in Japan and overseas.」
The Company maintains its view of resilient public investment and describes a recovery in private-sector construction investment, which had weakened due to the impact of the pandemic. - FY2022-Q3RestatedAnnual report
「In the construction industry, public investment remained resilient. Meanwhile, private-sector construction investment, although affected by the COVID-19 pandemic, recovered against a backdrop of the resumption of economic activity in Japan and overseas.」
The Company continues to view public investment as resilient and private-sector construction investment as recovering against a backdrop of the resumption of economic activity in Japan and overseas, despite the impact of the pandemic. - FY2022-Q1MitigatedAnnual report
「In the construction industry, public investment remained resilient. Meanwhile, private-sector construction investment, although affected by the COVID-19 pandemic, recovered against a backdrop of efforts to address growth sectors.」
While maintaining its view of resilient public investment, the Company explains that private-sector construction investment, previously described as weakening, has recovered against a backdrop of efforts to address growth sectors. - FY2021WorsenedAnnual report
「In particular, a substantial decline in private-sector capital investment due to the impact of the COVID-19 pandemic would pose a volatility risk to the Group’s order-taking activities.」
The Company explicitly identifies a decline in private-sector capital investment due to the pandemic and volatility in orders as particularly important risks, revising its previous view of a firm construction market. - FY2021-Q3RestatedAnnual report
「In the construction industry, public investment remained resilient. Meanwhile, private-sector construction investment weakened, partly due to the impact of the COVID-19 pandemic.」
The Company continues to describe resilient public investment and weakening private-sector construction investment due to the impact of the pandemic. - FY2021-Q2RestatedAnnual report
「In the construction industry, public investment remained resilient. Meanwhile, private-sector construction investment weakened, partly due to the impact of the COVID-19 pandemic.」
The Company continues to describe resilient public investment and weakening private-sector construction investment due to the impact of the pandemic. - FY2021-Q1WorsenedAnnual report
「In the construction industry, public investment remained resilient. Meanwhile, private-sector construction investment weakened, partly due to the impact of the COVID-19 pandemic.」
While resilient public investment continued, the Company explicitly identified the weakening of private-sector construction investment due to the impact of the COVID-19 pandemic, revising its previous view of a firm market. - FY2020-Q3RestatedAnnual report
「In the construction industry, public investment remained firm, while private-sector capital investment followed a moderate upward trend. Favorable business conditions continued.」
The Company cites firm public investment and moderate growth in private-sector capital investment, indicating that favorable conditions in the construction market are continuing. - FY2020-Q2RestatedAnnual report
「In the construction industry, public investment became increasingly resilient, while private-sector capital investment followed a moderate upward trend. Favorable business conditions continued.」
The Company cites increasingly resilient public investment and moderate growth in private-sector capital investment, indicating that favorable conditions in the construction market are continuing. - FY2020-Q1RestatedAnnual report
「In the construction industry, public investment remained resilient, while private-sector construction investment followed a moderate upward trend. Overall, the business environment remained favorable.」
The Company cites resilient public investment and moderate growth in private-sector construction investment, and continues to view the construction market overall as favorable. - FY2019-Q3RestatedAnnual report
「In the construction industry, public investment remained at a high level, while private-sector capital investment increased. Overall, the business environment remained firm.」
The Company describes public investment remaining at a high level and private-sector capital investment increasing, and continues to view the construction market overall as firm. - FY2019-Q2Wording changes to an increase in private-sector capital investmentAnnual report
「In the construction industry, public investment remained resilient, while private-sector capital investment increased against a backdrop of improving corporate earnings. Overall, the business environment remained firm.」
Resilient public investment continues to be noted, while private-sector capital investment is described as increasing, revised from the previous quarter’s “moderate increase.” The Company continues to view the business environment as firm. - FY2019-Q1Wording on private-sector capital investment changes to moderate growthAnnual report
「In the construction industry, public investment remained resilient, while private-sector capital investment increased moderately. Overall, the business environment remained firm.」
Resilient public investment continues to be noted, while private-sector capital investment is now described as increasing moderately rather than recovering. The Company continues to view the business environment as firm. - FY2018RestatedAnnual report
「In the construction industry, public investment is expected to remain resilient and at a high level, with social infrastructure development expected in areas including the International Container Strategic Port policy, the development of international cruise hubs, disaster prevention and mitigation, and measures to address aging infrastructure. Private-sector capital investment is also expected to remain firm, and favorable business conditions are expected to continue.」
The Company expects public investment to remain at a high level and private-sector capital investment to remain firm, indicating that favorable conditions in the construction market will continue. - FY2018-Q3Private-sector construction investment shifts to an upward trendAnnual report
「In the construction industry, public investment remained resilient, while private-sector construction investment continued on an upward trend. Overall, the business environment remained firm.」
In addition to resilient public investment, private-sector construction investment, which had been described as stalled through the previous quarter, was described as being on an upward trend. - FY2018-Q2RestatedAnnual report
「In the construction industry, public investment remained resilient, while private-sector capital investment recovered against a backdrop of improving corporate earnings. Overall, the business environment remained firm.」
The Company describes resilient public investment and a recovery in private-sector capital investment, and continues to view the construction market as generally firm. - FY2018-Q1RestatedAnnual report
「In the construction industry, public investment became increasingly resilient, while private-sector capital investment recovered against a backdrop of improving corporate earnings. The business environment remained firm.」
The Company describes increasingly resilient public investment and a recovery in private-sector capital investment, and continues to view the construction market as firm. - FY2017RestatedAnnual report
「In the construction industry, public investment remained resilient and private-sector capital investment showed signs of recovery. Overall, the business environment remained firm.」
The Company describes resilient public investment and a recovery in private-sector capital investment, and continues to view the construction market as generally firm. - FY2017-Q3RestatedAnnual report
「In the construction industry, the recovery in private-sector capital investment stalled, while public investment remained resilient. Overall, conditions remained firm.」
The market environment continues to be described as one in which stalled private-sector capital investment coexists with resilient public investment, with overall conditions remaining firm. - FY2017-Q2Change in the composition of the market environmentAnnual report
「In the construction industry, public investment remained resilient, while the recovery in private-sector capital investment stalled. Corporate earnings remained high, and overall conditions were firm.」
Public investment remained resilient, while private-sector capital investment was described as having stalled, indicating a change in the composition of the market environment from the previous quarter. Overall conditions were described as generally firm. - FY2017-Q1RestatedAnnual report
「In the construction industry, public investment declined moderately from the previous fiscal year, while private-sector capital investment showed signs of recovery against a backdrop of high corporate earnings. Overall, the industry remained firm.」
The construction market environment continues to be described as one in which lower public investment coexists with a recovery in private-sector capital investment. - FY2016First statedAnnual report
「In the construction industry, public investment turned lower than in the previous consolidated fiscal year, while private-sector capital investment continued to increase against a backdrop of improving corporate earnings. Overall, the industry remained firm.」
The construction market environment is described as one in which lower public investment coexists with higher private-sector capital investment.