Expectations for a recovery in the order environment against the backdrop of demand for social infrastructure and preparations for the Tokyo Olympics
First written in FY2017-Q1. 27 of 35 entries say "Reframed", first in FY2017-Q3. Latest entry: 2026-08-07.
Tomoe moved to the "Worse" side of this theme in 2017, 4 years before the typical company in this theme (2021).
The whole theme swung hardest in 2025: 5 of 15 companies on the "Worse" side.
11 other companies' latest entry also says "Restated".
- 2026-08-07RestatedResults
「In our industry, private-sector capital investment has been recovering, while public investment has remained firm.」
The recovery in private-sector capital investment and the resilience of public investment continued to provide favorable conditions. - FY2026RestatedAnnual report
「Private-sector capital investment is gradually recovering, while public investment has remained resilient. However, material prices remain elevated and labor shortages continue, requiring continued monitoring.」
The view continues that recovering private-sector capital investment and resilient public investment are tailwinds, while elevated material prices and labor shortages remain concerns. - 2026-05-14RestatedResults
「Private-sector capital investment has been gradually recovering, while public investment has remained firm.」
The recovery in private-sector capital investment and the resilience of public investment continued to characterize the order environment. - FY2026-H1ReframedAnnual report
「Private-sector capital investment is gradually recovering, while public investment has remained solid. However, material prices remain elevated and labor shortages continue, requiring continued monitoring.」
Private-sector capital investment is recovering and public investment remains solid, while elevated material prices and labor shortages continue to be concerns. - FY2025ReframedAnnual report
「Private-sector capital investment has shown signs of recovery, and public investment has remained resilient, but material prices remain elevated and labor shortages continue, leaving the outlook uncertain.」
The view continues that recovering private-sector capital investment and resilient public investment are tailwinds, while elevated material prices and labor shortages are explicitly identified as sources of uncertainty about the outlook. - FY2025-H1ReframedAnnual report
「Private-sector capital investment has shown signs of recovery, and public investment has remained solid. However, material prices remain elevated and labor shortages continue, requiring continued monitoring.」
The view continues that recovering private-sector capital investment and solid public investment are tailwinds, while the continued elevation of material prices and labor shortages are explicitly noted. - FY2024-Q3ReframedAnnual report
「Although the recovery in private-sector capital investment has stalled, public investment has remained resilient. However, material prices continue to show a tendency to remain elevated, and the situation requires continued monitoring.」
The description of private-sector capital investment has changed from recovery to a pause, while caution over resilient public investment and elevated material prices continues. - FY2024-Q2RestatedAnnual report
「Private-sector capital investment is recovering, and public investment has remained solid. However, material prices continue to show a tendency to remain elevated, and the situation requires continued monitoring.」
The view continues that the recovery in private-sector capital investment and solid public investment are tailwinds, while elevated material prices remain a concern. - FY2024-Q1ReframedAnnual report
「Private-sector capital investment, led by the manufacturing sector, is recovering, and public investment has remained resilient. However, material prices remain elevated, and the situation requires continued monitoring.」
The market environment reflects a recovery in private-sector capital investment, led by the manufacturing sector, and resilient public investment, while continued attention to high material prices is considered necessary. - FY2023ReframedAnnual report
「Orders for private-sector construction have increased, and the industry as a whole is operating at a higher level than in the previous fiscal year. Public-sector construction has also remained resilient, but raw material prices remain elevated and uncertainty about the outlook continues.」
Increased orders for private-sector construction and resilience in public-sector construction are reflected in performance, while uncertainty about the outlook due to high raw material prices is also noted. - FY2023-Q3RestatedAnnual report
「Private-sector capital investment is recovering, and the recovery trend is expected to continue on the back of strong corporate earnings and other factors. Public investment is also expected to remain resilient.」
The view that recovering private-sector capital investment and resilient public investment are tailwinds for the market environment continues. - FY2023-Q2ReframedAnnual report
「Private-sector capital investment has shown signs of recovery, and public investment has become increasingly resilient. However, concerns remain over rising raw material prices, and the situation requires continued monitoring.」
The market environment reflects a recovery in private-sector capital investment and resilient public investment, while concerns over rising raw material prices persist. - FY2022ReframedAnnual report
「Private-sector capital investment has shown signs of recovery, and public investment has also remained resilient. However, raw material prices are rising and the impact of COVID-19 remains uncertain, requiring close attention to the effects of these developments on the domestic and international economies.」
The recovery in private-sector capital investment and resilience in public investment are confirmed, while rising raw material prices and the impact of the infection are identified as sources of uncertainty. - FY2022-Q3ReframedAnnual report
「Although public investment remains at a high level, the recovery in private-sector capital investment has stalled and it has recently been weak. The situation requires continued monitoring, including in light of high material costs and COVID-19 variants.」
Public investment remains at a high level, while the description of private-sector capital investment changed from recovery to weakness, with high material costs and variants identified as concerns. - FY2022-Q2ReframedAnnual report
「Private-sector capital investment is recovering, while public investment remains solid at a high level. However, concerns remain over higher material costs, weaker appetite for capital investment due to the spread of COVID-19, and construction delays, and the situation requires continued monitoring.」
Private-sector capital investment was described as having shifted from weakness to recovery, while public investment remained solid at a high level. At the same time, concerns over higher material costs, weaker appetite for capital investment, and construction delays were also noted. - FY2022-Q1ReframedAnnual report
「Although material costs continue to rise gradually, private-sector capital investment has shown signs of recovery and public investment has remained solid at a high level. However, concerns remain over weaker appetite for capital investment and construction delays resulting from COVID-19, and the situation requires continued monitoring.」
The recovery in private-sector capital investment and high, resilient public investment are cited, alongside concerns over rising material costs, weaker appetite for capital investment due to the infection, and construction delays. - FY2021ReframedAnnual report
「Although material costs, which had previously been stable, have gradually risen, private-sector capital investment has shown signs of recovery and public investment has remained solid. However, the impact of COVID-19 remains uncertain, and close attention must be paid to its effects on the domestic and international economies.」
The market environment is characterized by a recovery in private-sector capital investment and solid public investment, while the impact of the infection remains uncertain. - FY2021-Q3ReframedAnnual report
「Private-sector capital investment has been trending downward, while public investment has remained solid and material costs have continued to ease. However, the situation is expected to remain difficult for the time being because of the impact of the resurgence of COVID-19 and heightened uncertainty about the outlook following the declaration of a state of emergency, and continued monitoring will be necessary.」
The outlook has shifted to one in which difficult conditions are expected to continue for the time being because of the resurgence of the infection and the state of emergency, despite private-sector capital investment trending downward, public investment remaining solid, and material costs having eased. - FY2021-Q2RestatedAnnual report
「Private-sector capital investment is weak, while public investment has remained solid and is expected to continue doing so as related budgets are executed.」
While private-sector capital investment remains weak, public investment is solid and is expected to remain so going forward as related budgets are executed. - FY2021-Q1ReframedAnnual report
「Private-sector capital investment is weak, while public investment has remained resilient and is expected to remain so going forward as related budgets are executed. Material costs, which had remained elevated, have also eased from their previous levels. However, concerns remain over weaker appetite for capital investment and project delays resulting from COVID-19, and the situation requires continued monitoring.」
While private-sector capital investment is weak, public investment remains resilient and is expected to continue doing so as related budgets are executed. At the same time, there are concerns over weaker appetite for capital investment and project delays resulting from the infection. - FY2020ReframedAnnual report
「Large-scale urban redevelopment projects and measures to address aging infrastructure are expected to generate demand, but the impact of the spread of COVID-19, including weaker appetite for capital investment and project delays, is a concern.」
Expected demand for large-scale redevelopment and measures to address aging infrastructure continues, while weaker appetite for capital investment and project delays resulting from the spread of the infection have emerged as new concerns. - FY2020-Q3ReframedAnnual report
「Private-sector capital investment has recently shown a pause in the growth of construction investment, while public investment has remained solid and material costs have eased from their previous levels.」
The market environment is described as one in which growth in private-sector capital investment has paused, while public investment remains solid and material costs have eased from their previous levels. - FY2020-Q2ReframedAnnual report
「Public investment has remained resilient, while private-sector capital investment has been generally solid as construction investment has increased gradually. Material costs have also eased from their previous levels, but concerns remain over destabilizing factors such as rising labor costs due to labor shortages, and the situation requires continued monitoring.」
A solid market environment supported by public investment and private-sector capital investment is continuing, while material costs have eased from their previous levels and rising labor costs due to labor shortages remain the main concern. - FY2020-Q1ReframedAnnual report
「Although concerns remain over destabilizing factors such as higher material costs and rising labor costs due to labor shortages, private-sector capital investment has remained resilient against a backdrop of strong corporate earnings, and measures to address aging infrastructure have advanced, resulting in generally solid conditions.」
The industry environment is considered generally solid, with resilient private-sector capital investment and measures to address aging infrastructure cited in addition to conventional drivers such as public investment and redevelopment. - FY2019ReframedAnnual report
「The industry is generally operating in a favorable market environment, with private-sector capital investment, large-scale urban redevelopment projects, and measures to address aging infrastructure expected to support demand. However, the situation is expected to remain uncertain, given rising material prices, the chronic labor shortage, and weakness in public investment.」
Private-sector capital investment, large-scale redevelopment, and measures to address aging infrastructure are cited as demand drivers, while weakness in public investment is explicitly identified as a new destabilizing factor. - FY2019-Q3ReframedAnnual report
「Although public investment declined slightly, the industry as a whole remained solid, supported by increased private-sector capital investment and large-scale urban redevelopment in urban areas.」
While public investment declined slightly, the industry as a whole is described as solid, supported by increased private-sector capital investment and large-scale urban redevelopment in urban areas. - FY2019-Q2ReframedAnnual report
「Although concerns remain over higher material prices resulting from increased construction demand and the securing of technical personnel, public and private investment have remained resilient, large-scale urban redevelopment has continued, and capital investment has increased, resulting in generally solid conditions.」
The order environment is considered solid, supported by resilient public- and private-sector investment, large-scale urban redevelopment, and increased capital investment, while rising material prices accompanying stronger construction demand and the securing of technical personnel are identified as concerns. - FY2019-Q1ReframedAnnual report
「Although concerns remain over destabilizing factors such as higher labor costs resulting from rising material prices and the aging of skilled workers, public investment has remained resilient, and signs of strength have emerged in redevelopment projects in the Tokyo metropolitan area and private-sector capital investment, resulting in generally solid conditions.」
The market environment is described as generally solid, supported by resilient public investment as well as strength in redevelopment projects in the Tokyo metropolitan area and private-sector capital investment. - FY2018ReframedAnnual report
「The industry is generally operating in a favorable market environment, driven by public investment, private-sector capital investment, and the full-scale development of facilities for the Tokyo Olympics and Paralympics. However, the situation is expected to remain uncertain, given the chronic labor shortage and the need to consider measures for the post-Olympics period.」
While the tailwinds from Olympic-related facilities, public investment, and private-sector capital investment are generally characterized as a favorable market environment on an annual basis, measures for the post-Olympics period have also become an issue. - FY2018-Q3ReframedAnnual report
「In this industry, unstable factors such as persistently high material prices and rising labor expenses due to labor shortages remained, but as the development of facilities related to the Tokyo Olympic and Paralympic Games moved into full swing, signs of strength continued in redevelopment, particularly in central Tokyo, and private-sector capital investment, while public investment also remained solid, resulting in generally firm conditions.」
The tailwinds in the order environment have materialized as preparations for facilities related to the Tokyo Olympics, redevelopment in central Tokyo, private-sector capital investment, and resilient public investment, and the industry is described as generally solid. - FY2018-Q2ReframedAnnual report
「In this industry, conditions have been gradually improving due to public works investment and the recovery in the domestic economy, but instability remains due to persistently high material prices and rising labor expenses resulting from labor shortages. Despite these concerns, both public investment and private-sector capital investment remained firm as economic measures and other initiatives were steadily implemented.」
The order environment is described as gradually improving due to public works investment and the recovery in the domestic economy, while both public investment and private-sector capital investment have remained firm. - FY2018-Q1ReframedAnnual report
「In this industry, high corporate earnings and improved business conditions have continued, and although concerns remain about surging labor and material costs and the aging workforce, both public investment and private-sector capital investment have remained firm.」
The description of the order environment has shifted from expectations of a recovery to an actual-results-based description of high corporate earnings, improved business conditions, and firm trends in public investment and private-sector capital investment. - FY2017-Q3ReframedAnnual report
「In this industry, corporate earnings remained high and business sentiment improved somewhat, while capital investment was on a gradual upward trend. Despite concerns about higher costs due to persistently high labor expenses, conditions remained generally firm.」
The factors supporting the order environment have expanded from expectations regarding demand for social infrastructure and preparations for the Tokyo Olympics to improvements in business sentiment and a gradual increase in capital investment. - FY2017-Q2RestatedAnnual report
「While expectations for a recovery in the order environment are increasing as the importance of social infrastructure grows and preparations for the Tokyo Olympic and Paralympic Games finally move into full swing,」
Expectations for a recovery in the order environment driven by demand for social infrastructure and preparations for the Tokyo Olympics are reiterated in the same context as in the previous quarter. - FY2017-Q1First statedAnnual report
「While expectations for a recovery in the order environment are increasing as the importance of social infrastructure grows and preparations for the Tokyo Olympic and Paralympic Games finally move into full swing,」
This indicates tailwinds for, and expectations regarding, demand in the industry's order environment.