Trends in Public Investment, Private Investment, and Residential Investment in Japan’s Construction Market

「国内においては、国土強靱化や防衛力強化のための堅調な公共投資に加え、経済安全保障の観点からサプライチェーン強靱化のための国内生産拠点や物流施設、AIの進展によるデータセンターの建設需要の高まり、さらには省力化・カーボンニュートラル対応など旺盛な民間投資が見込まれます。」

「The construction industry continues to face rising construction costs as global prices for resources, energy and construction materials remain elevated. In early spring, concerns arose over supply constraints for petroleum-derived construction materials stemming from the situation in the Middle East, but these constraints are generally being resolved as the government advances measures to remove bottlenecks. Nevertheless, prices and supply constraints will continue to require close monitoring. In Japan, in addition to solid public investment for national resilience and strengthening defense capabilities, strong private-sector investment is expected in domestic production facilities and logistics facilities to strengthen supply chains from an economic security perspective, in rising demand for data center construction driven by advances in AI, and in labor-saving and carbon-neutral projects. Overseas, infrastructure demand remains strong in Singapore, Hong Kong and Southeast Asia, where the Group has operations, and large-scale port construction projects are also expected through high-quality infrastructure exports under ODA programs.」

「国内においては、国土強靱化や防衛力強化のための堅調な公共投資に加え、経済安全保障の観点からサプライチェーン強靱化のための国内生産拠点や物流施設、AIの進展によるデータセンターの建設需要の高まり、さらには省力化・カーボンニュートラル対応など旺盛な民間投資が見込まれます。」

「In Japan, strong private investment is expected in domestic production facilities and logistics facilities to strengthen supply chains from the perspective of economic security, in data center construction driven by advances in AI, and in labor-saving and carbon-neutral initiatives, in addition to firm public investment for national resilience and the strengthening of defense capabilities.」

「Firm public investment continued through disaster prevention and mitigation, the five-year accelerated measures for national resilience, and defense-related infrastructure development. In addition, construction investment in both the public and private sectors remained firm due to increased private capital investment from the perspectives of economic security and the promotion of carbon neutrality. Meanwhile, construction material prices remained elevated, and labor shortages among partner companies occurred in building equipment projects where demand was strong. Overseas, construction investment in Singapore, Hong Kong and Southeast Asia, the Company's key markets, remained firm, but these markets, like Japan, continued to face elevated construction material prices and rising labor costs.」

「In Japan, firm public investment is expected through uninterrupted budget execution, while strong private-sector demand is expected in logistics, data centers and urban redevelopment, as well as in capital investment to strengthen supply chains and promote carbon neutrality from the perspective of economic security. Overseas, construction demand is also expected to remain firm in Southeast Asia, including Singapore, where the Company has operations.」

「In Japan, construction investment in both the public and private sectors remained firm, supported by continued public investment in disaster prevention and mitigation, accelerated national resilience measures and defense-related infrastructure development, as well as increased private capital investment from the perspectives of economic security and the promotion of carbon neutrality. Meanwhile, construction material prices remained elevated, and labor shortages among partner companies occurred in regions where construction demand was concentrated. Overseas, construction investment in Singapore, Hong Kong and Southeast Asia, the Company's key markets, remained firm, but these markets, like Japan, continued to face elevated construction material prices and rising labor costs.」

「The operating environment surrounding the construction industry remained solid, as construction investment in both the public and private sectors benefited from continued firm public investment under the government's disaster prevention, disaster mitigation and accelerated national resilience measures, as well as increased private capital investment from the perspective of economic security. Meanwhile, construction material prices remained elevated, and labor shortages among partner companies occurred in regions where construction demand was concentrated.」

「The operating environment surrounding the construction industry remained solid, as construction investment in both the public and private sectors benefited from continued firm public investment under the government's disaster prevention, disaster mitigation and accelerated national resilience measures, as well as increased private capital investment from the perspective of economic security. Meanwhile, construction material prices remained elevated, and labor shortages among partner companies occurred in regions where construction demand was concentrated.」

「The operating environment surrounding the construction industry remained solid in Japan, as public investment benefited from uninterrupted budget execution together with the previous fiscal year's economic measures. Private investment also remained firm, driven by strong demand for logistics and urban redevelopment and a recovery in corporate performance. Overseas, construction investment remained firm in Singapore and Southeast Asia, where the Company has operations. However, both Japan and overseas markets faced rising project costs due to soaring and persistently high fuel, energy and construction material prices.」

「The operating environment surrounding the construction industry is expected to see public investment in Japan remain solid through uninterrupted budget execution, including the second supplementary budget for fiscal 2022. Increased construction work related to defense is also expected due to changes in the security environment surrounding Japan. Private construction investment is likewise expected to increase, driven by strong corporate earnings and capital investment related to economic security and the transition to carbon neutrality. In addition to strong demand for logistics and urban redevelopment, a recovery in inbound demand is also expected. However, trends related to the sustained high prices of construction materials and global geopolitical risks require continued monitoring.」

「The construction industry is also facing rising project costs due to soaring fuel, energy and construction material prices. However, the government is expected to formulate a large supplementary budget as a comprehensive economic package to address soaring prices amid current economic conditions. As a result, public investment in Japan is expected to remain solid and at a high level, while private capital investment is expected to recover against a backdrop of strong corporate performance.」

「The operating environment surrounding the construction industry remained solid, with public investment and private investment in logistics, redevelopment and other areas continuing to hold firm in Japan, although soaring construction material prices have become evident. Construction investment also remained firm in Singapore and Hong Kong, where the Company has overseas operations, but these markets, like Japan, faced soaring construction material prices as well as rising labor costs.」

「In Japan, high levels of public investment continued through disaster prevention and mitigation measures and the five-year accelerated measures for national resilience, while private investment was also active in logistics-related projects and redevelopment, as well as capital investment aimed at the post-pandemic economy.」

「The construction industry is also in a situation requiring close attention to supply and demand and price trends for construction materials. Nevertheless, in Japan, public investment under national resilience measures remained firm, while private investment increased in logistics-related projects and redevelopment, as well as in capital investment related to post-pandemic, digital and green initiatives. Overseas, construction work has resumed in Singapore, Africa and other regions where projects were suspended in the first half of the previous fiscal year, and construction investment remains firm despite the impact of COVID-19.」

「The operating environment surrounding the construction industry is expected to see public investment in Japan remain at a high level through the five-year accelerated measures for national resilience and other disaster prevention and mitigation initiatives. Although private capital investment remains subject to uncertainty due to the impact of the spread of infectious disease, activity toward a post-pandemic economy and the achievement of carbon neutrality is increasing, and investment is expected to move toward recovery.」

「In Japan, public investment, including investment under the government's national resilience measures, remained at a high level. Although some industries showed weakness in private capital investment, there was a trend toward recovery. In Southeast Asia, including Singapore, where the Company has overseas operations, construction investment, particularly in infrastructure development, is now on a recovery trend, despite delays in some project awards in the previous fiscal year.」

「In the construction industry, public investment in Japan, including investment under the government's national resilience measures, remained firm, although some caution was evident in private capital investment.」

「The operating environment surrounding the construction industry is such that public investment in Japan, including investment under national resilience measures, remains firm, although concern exists over the impact of the economic downturn on private investment.」

「In the construction industry, public investment in Japan remained firm against a backdrop of the government's national resilience plans. Although some private-sector companies took a cautious approach to new capital investment, projects already in hand continued to progress without interruption, and the impact of COVID-19 was limited.」

「Throughout the year, public investment and private capital investment remained solid in Japan. In Southeast Asia, including Singapore and Hong Kong, where the Company has overseas operations, construction investment, particularly in social infrastructure development, remained firm.」

「In the construction industry, both public investment and private capital investment remained firm.」

「In the construction industry, public investment remained solid, while private capital investment increased against a backdrop of improving corporate earnings, a recovery in personal consumption and efforts to address labor shortages, maintaining a stable operating environment.」

「In the construction industry, both public and private investment remained firm, maintaining a stable operating environment.」

「In Japan, the business environment remained favourable, supported by robust public and private investment and increased urban development activity and inbound-related demand. In Singapore and Hong Kong, the Company’s overseas locations, construction investment, particularly in social infrastructure development, was strong.」

「In the construction industry, public investment remained at a relatively high level, residential construction remained flat, and private capital investment increased moderately, leaving the industry as a whole firm.」

「In the construction industry, residential construction remained flat, while public investment remained resilient and private capital investment increased moderately, leaving the industry as a whole firm.」

「In the construction industry, residential construction remained flat, while public investment remained resilient and private capital investment increased moderately, leaving the industry as a whole firm.」

「The business environment surrounding the construction industry remained robust, supported by resilient public and private investment in Japan and increased redevelopment activity and inbound-related demand.」

「In the construction industry, public works remained resilient, and the business environment remained robust, supported by increased redevelopment activity and inbound-related demand.」

「In the construction industry, both public investment and private construction investment remained resilient, resulting in continued stable market conditions.」

「In Japan, robust public investment resulting from the government’s fiscal policy and growth strategy, the full-scale commencement of construction related to the Tokyo 2020 Olympic and Paralympic Games, and increased inbound-related demand for cruise terminals, accommodation and commercial facilities are expected. Overseas, robust construction investment is also expected to continue in Singapore and Hong Kong, where the Company has operations.」

「In the construction industry, public works remained resilient, private capital investment remained firm owing to improved corporate earnings and other factors, and the business environment remained robust, supported by increased redevelopment activity and inbound-related demand.」

「In the construction industry, government construction investment remained resilient, supported by policies including the use of supplementary budgets and the front-loading of budget implementation. Private construction investment also remained firm, and residential investment was recovering.」

「In the construction industry, public investment was on a gradual downward trend, but private capital investment and residential investment showed signs of recovery, and the industry as a whole remained firm.」