Concentration of final investment decisions for expected projects in the second half of the year
First written in FY2020-Q1. 4 of 10 entries say "Worsened", first in FY2024-Q3. Latest entry: FY2027-H1.
No other company in this theme has enough history to compare yet.
- FY2027-H1WorsenedAnnual report
「Meanwhile, customer CAPEX (capital expenditures) has continued to rise due to inflation and other factors, and some customers have postponed the timing of final investment decisions on capital projects to FY2027 or later.」
The postponement of customers' investment decisions has extended from fiscal 2026 or later to fiscal 2027 or later, and project progress risks driven by higher CAPEX have continued to grow. - FY2026WorsenedAnnual report
「Some customers postponed the timing of their final investment decisions until fiscal 2026 or later. This trend was particularly pronounced in sustainable projects, including hydrogen and fuel ammonia and SAF in Japan and overseas, where increases in CAPEX, the establishment of government frameworks, securing off-takers and the provision of subsidies were taking time.」
Postponement of capital investment decisions extended to fiscal 2026 or later and became particularly pronounced in sustainable projects such as hydrogen, fuel ammonia and SAF. - FY2026-H1WorsenedAnnual report
「While various capital expenditure plans in Japan and overseas were progressing, some customers postponed final investment decisions on capital expenditure to the second half of fiscal 2025 or fiscal 2026 and beyond because CAPEX remained high due to rising interest rates and increases in construction costs and other expenses. This trend was more pronounced in sustainable projects in Japan and overseas, including hydrogen, fuel ammonia and SAF. Higher CAPEX meant that customers needed more time to secure subsidies and review budgets, and some projects began to be pushed back.」
Customer investment decisions have been postponed from the second half of fiscal 2025 to fiscal 2026 or later, with the trend particularly pronounced in sustainable fields such as hydrogen, fuel ammonia and SAF. - FY2025-H1MaterialisedAnnual report
「While various capital expenditure plans in Japan and overseas were progressing, some customers began postponing final investment decisions on capital expenditure to fiscal 2025 and beyond because initial investment costs remained high due to rising interest rates and increases in construction costs and other expenses.」
Against the backdrop of rising interest rates and higher construction costs and other factors, customers in fact began postponing final investment decisions on capital equipment to fiscal 2025 or later. - FY2024MaterialisedAnnual report
「As customers' initial investment costs trended upward due to rising interest rates, higher construction costs and other factors, some customers postponed the timing of their investment decisions to fiscal 2024 or later.」
Postponement of investment decisions due to rising interest rates and higher construction costs occurred as an actual customer trend. - FY2024-Q3WorsenedAnnual report
「While various capital expenditure plans in Japan and overseas were progressing, customers' initial investment costs were trending higher due to rising interest rates and inflation, and we are therefore closely monitoring the timing of customers' investment decisions.」
Rising interest rates and inflation have caused customers' initial investment costs to trend upward, again highlighting uncertainty over the timing of investment decisions. - FY2020MaterialisedAnnual report
「This target was not achieved because customers postponed their final investment decisions amid the sharp decline in crude oil prices, among other factors.」
The risk that customers' final investment decisions would be concentrated in the second half of the year materialized as postponements, resulting in the order target not being achieved. - FY2020-Q3RestatedAnnual report
「For the current consolidated fiscal year, we aim to secure total orders of ¥800 billion across the comprehensive engineering business, and expect the customers' final investment decisions and tender results for many projects to be known by the end of the current consolidated fiscal year.」
For projects related to the order target, customers' final investment decisions and bid results are expected to become known by the end of the consolidated fiscal year under review, reaffirming the previous outlook. - FY2020-Q2RestatedAnnual report
「The Company aims to receive total orders of ¥800 billion across the comprehensive engineering business in the consolidated fiscal year under review. However, for many of the expected projects, customers' final investment decisions and bid results are expected to become known in the second half of the consolidated fiscal year under review.」
For expected projects related to the ¥800 billion order target, customers' final investment decisions and bid results are expected to be concentrated in the second half of the fiscal year, reaffirming the previous outlook. - FY2020-Q1First statedAnnual report
「For many of the expected projects, customers' final investment decisions are expected to be concentrated in the second half of the consolidated fiscal year under review.」
For expected projects related to the order target, the concentration of customers' final investment decisions in the second half of the consolidated fiscal year under review was identified as a new uncertainty concerning project progress.