Downside risk from reduced public investment and excessive competition
First written in FY2016. 20 of 30 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2024: 7 of 31 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Public works account for approximately 60% of the Group's domestic revenue (56.6% in the fiscal year ending March 2026).」
The domestic business's dependence on public works declined from 63.7% in the previous fiscal year to 56.6%. The company continues to describe the risk of weaker performance due to cuts in public investment and excessive competition. - FY2025-H1MaterialisedAnnual report
「In Japan, revenue declined to ¥8,703 million, down ¥585 million year on year, due to delays in construction awards and the impact of price competition. Operating profit was also very weak.」
Regarding risks related to public investment and competition for orders, the company explains that delays in construction awards and price competition actually affected performance, resulting in lower domestic revenue and weak operating profit. - FY2024WorsenedAnnual report
「Public works account for approximately 60% of the Group's domestic revenue (63.7% in the fiscal year ended March 2024).」
Dependence on public works rose from 55.9% in the previous fiscal year to 63.7%. The company continues to describe the risk of declines in orders received, revenue and profit due to cuts in public investment and excessive price competition. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended [current third quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there are no new or significant changes to existing business and other risks, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2024-Q2RestatedAnnual report
「During the six-month period ended [current second quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there are no new or significant changes to business and other risks, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2024-Q1RestatedAnnual report
「During the three-month period ended [current first quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there are no new or significant changes to business and other risks, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2023MitigatedAnnual report
「Public works account for approximately 60% of the Group's revenue (55.9% in the fiscal year ended March 2023).」
Dependence on public works declined from 66.6% in the previous fiscal year to 55.9%. The company continues to describe the risk of weaker performance due to cuts in public investment and excessive price competition. - FY2023-Q3RestatedAnnual report
「During the nine-month period ended [current third quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there are no new or significant changes to existing business and other risks, including those related to cuts in public investment and excessive competition. - FY2023-Q2RestatedAnnual report
「During the six-month period ended [current second quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there are no new or significant changes to existing business and other risks, including those related to cuts in public investment and excessive competition. - FY2023-Q1RestatedAnnual report
「During the three-month period ended [current first quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new or significant changes to existing business and other risks, including cuts in public investment and excessive competition, overseas operations and construction profitability. - FY2022MitigatedAnnual report
「Public works account for approximately 70% of the Group's revenue (66.6% in the fiscal year ended March 2022).」
Dependence on public works declined from 70.9% in the previous fiscal year to 66.6%. However, the risk of weaker performance due to cuts in public investment and excessive price competition remains. - FY2022-Q3RestatedAnnual report
「During the nine-month period ended [current third quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new or significant changes to existing business and other risks, including cuts in public investment and excessive competition, overseas operations and construction profitability. - FY2022-Q2RestatedAnnual report
「During the six-month period ended [current second quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new or significant changes to existing risks related to cuts in public investment and excessive competition, overseas operations, construction profitability and other matters. - FY2022-Q1RestatedAnnual report
「During the three-month period ended [current first quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks or significant changes, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2021-Q3RestatedAnnual report
「During the nine-month period ended [current third quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks or significant changes, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2021-Q2RestatedAnnual report
「During the six-month period ended [current second quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks or significant changes, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2021-Q1RestatedAnnual report
「During the three-month period ended [current first quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks or significant changes, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2020WorsenedAnnual report
「Public works account for approximately 70% of the Group's revenue (70.9% in the fiscal year ended March 2020).」
Dependence on public works rose from 61.1% in the previous fiscal year to 70.9%. The company continues to describe the risk that orders received, revenue and profit may decline due to cuts in public investment and excessive price competition. - FY2020-Q3RestatedAnnual report
「During the nine-month period ended [current third quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no significant changes to existing business and other risks, including the risk of weaker performance due to cuts in public investment and excessive competition. - FY2020-Q2RestatedAnnual report
「During the six-month period ended [current second quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks and no significant changes to existing risks, including those related to cuts in public investment and excessive competition. - FY2020-Q1RestatedAnnual report
「During the three-month period ended [current first quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks and no significant changes to the previously disclosed risks of weaker performance due to cuts in public investment and excessive competition. - FY2019MitigatedAnnual report
「Public works account for approximately 60% of the Group's revenue (61.1% in the fiscal year ended March 2019).」
Dependence on public works declined from 63.5% in the fiscal year ended March 2018 to 61.1%. However, the company continues to describe the risk of declines in orders received, revenue and profit due to cuts in public investment and excessive price competition. - FY2019-Q3RestatedAnnual report
「During the nine-month period ended [current third quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks and no significant changes to existing risks. - FY2019-Q1RestatedAnnual report
「During the three-month period ended [current first quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company explains that there are no new business or other risks and no significant changes. - FY2018MitigatedAnnual report
「Public works account for approximately 60% of the Group's revenue (63.5% in the fiscal year ended March 2018).」
Dependence on public works declined from 72.0% in the fiscal year ended March 2017 to 63.5%. The risk of weaker performance due to cuts in public investment and excessive competition continues to be described. - FY2018-Q3RestatedAnnual report
「During the nine-month period ended [current third quarter], no new business or other risks arose. There were also no significant changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there are no new business or other risks and no significant changes to existing risks. - FY2017WorsenedAnnual report
「Public works account for approximately 70% of the Group's revenue (72.0% in the fiscal year ended March 2017).」
The company's dependence on public works was quantified at 72.0%, up from 65.5% in the fiscal year ended March 2016. The company continues to describe the risk of declines in orders received, revenue and profit due to cuts in public investment and excessive price competition. - FY2017-Q2RestatedAnnual report
「During this period, the construction industry took a cautious stance amid a trend toward lower public investment and stagnant private-sector capital investment. Conditions also remained challenging as competition for orders intensified and material and labor costs rose.」
The company continues to describe the challenging environment in the construction industry, including the downward trend in public investment. Regarding business and other risks, it states that there are no new risks or significant changes. - FY2017-Q1RestatedAnnual report
「During this period, the construction industry took a cautious stance amid a trend toward lower public investment and stagnant private-sector capital investment. Conditions also remained challenging as competition for orders intensified and material and labor costs rose.」
The company continues to describe the challenging environment in the construction industry, including the downward trend in public investment. In the risk section, it states that there are no new risks or significant changes. - FY2016First statedAnnual report
「Because public works account for a very high proportion of the Group's sales, the Group's performance is significantly affected by the scale of public investment, which depends on the fiscal conditions of the national and local governments.」
Public works accounted for 65.5% of revenue in the fiscal year ended March 2016. The company identifies as risks the possibility that orders received, revenue and profit may decline due to cuts in public investment and price competition with industry peers.