Order fluctuations due to a slowdown in overseas markets and capital investment
First written in FY2017-Q1. 12 of 34 entries say "Reframed", first in FY2017-Q3. Latest entry: 2026-08-07.
Taikisha moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2019: 41 of 56 companies on the "Worse" side.
11 other companies' latest entry also says "Restated".
- 2026-08-07RestatedFinancial results
「Regarding market conditions for the Group, although concerns about a slowdown in the global economy persisted in overseas markets, capital investment by manufacturers remained firm.」
The Company reconfirmed that, while concerns about an economic slowdown and uncertainty over trade policy continued in overseas markets, capital investment by manufacturers remained firm. - FY2026ReframedAnnual report
「During the current fiscal year, the global economy remained unstable due to prolonged geopolitical risks in Eastern Europe and the Middle East, trends in prices and fluctuations in financial and capital markets associated with monetary policies in various countries, and the impact of U.S. tariff policies.」
Regarding the external environment in overseas markets, uncertainties involving geopolitical risks, financial and capital markets, and U.S. tariff policies were described in greater detail, while manufacturers’ capital investment was described as solid. - 2026-05-15RestatedFinancial results
「The outlook for the global economy remains uncertain due to developments in U.S. tariff policy, persistently high inflation and geopolitical risks, among other factors.」
The Company characterizes the external environment as remaining uncertain due to U.S. tariff policy, inflation, geopolitical risks and other factors. - FY2026-H1ReframedAnnual report
「During the current interim consolidated accounting period, uncertainty about the outlook continued due to uncertainties in policy developments, including U.S. reciprocal tariffs, prolonged geopolitical risks in Eastern Europe and the Middle East, and fluctuations in prices and financial and capital markets in various countries. …Regarding the market environment surrounding the Group, although there were concerns about a slowdown in the global economy in overseas markets, manufacturers’ capital investment remained solid.」
In overseas markets, factors contributing to uncertainty, including reciprocal tariffs, geopolitical risks and fluctuations in prices and financial markets, became more evident, while manufacturers’ capital investment was considered solid. The description continued to present both instability in the external environment and solid demand. - FY2025-H1ReframedAnnual report
「During the current interim consolidated accounting period, the global economy remained unstable due to prolonged geopolitical risks in Eastern Europe and the Middle East and persistently high resource and energy prices. …Regarding the market environment surrounding the Group, although there were concerns about a slowdown in the global economy in overseas markets, manufacturers’ capital investment remained solid.」
While the prolonged geopolitical risks and persistently high resource and energy prices were described, overseas manufacturers’ capital investment was considered solid, updating the description to present both instability in the external environment and solid demand. - FY2024-Q3WorsenedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, the global economy remained unstable due to increased geopolitical risks in Eastern Europe and the Middle East and the continuation of monetary tightening policies in various countries. In China, the economy slowed amid weak domestic and external demand, beginning with the real estate market. In Southeast Asia, although domestic demand recovered, beginning with the recovery in inbound tourism, the pace of growth slowed due to the slowdown in overseas economies.」
In addition to the previous concerns about a slowdown in the global economy, geopolitical risks in Eastern Europe and the Middle East, monetary tightening in various countries, weak demand in China and slower growth in Southeast Asia were specifically described. Meanwhile, capital investment by overseas manufacturers was considered solid. - FY2024-Q2ReframedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, the global economy remained unstable due to prolonged inflation in Europe and the United States and higher policy interest rates. In China, the economy slowed amid weak domestic and external demand, beginning with the real estate market. In Southeast Asia, the pace of growth slowed due to the slowdown in overseas economies. …Regarding the market environment surrounding the Group, although there were concerns about a slowdown in the global economy in overseas markets, manufacturers’ capital investment remained solid.」
While solid capital investment in overseas markets continued, factors slowing the global economy became more evident, including inflation and rate hikes in Europe and the United States, weak domestic and external demand in China, and slower growth in Southeast Asia. - FY2024-Q1MitigatedAnnual report
「Regarding market conditions for the Group, although concerns about a slowdown in the global economy persisted in overseas markets, capital investment by manufacturers remained firm.」
Although concerns about a slowdown in the global economy remained, overseas manufacturers’ capital investment was described as solid. Overseas construction orders received also increased 96.6% year on year, and the description of market conditions shifted toward improvement from the capital investment adjustments and uncertainty seen through the previous fiscal year. - FY2023MitigatedAnnual report
「Regarding the market environment surrounding the Group, although overseas markets faced uncertainty due to the impact of COVID-19 and soaring resource prices, manufacturers continued to show a recovery trend in capital investment.」
Although uncertainty remained in overseas markets, manufacturers’ capital investment continued to recover. Overseas construction orders received were ¥135.956 billion, up 53.4% from the previous fiscal year. - FY2023-Q3RestatedAnnual report
「Meanwhile, although uncertainty continued in overseas markets due to the impact of COVID-19 and soaring resource prices, manufacturers continued to show a recovery trend in capital investment.」
While uncertainty in overseas markets continued, manufacturers’ capital investment also continued to recover. Overseas construction orders received increased 76.2% year on year, while overseas completed construction revenue decreased 25.3%. - FY2023-Q2MitigatedAnnual report
「Meanwhile, although uncertainty continued in overseas markets due to the impact of COVID-19 and soaring resource prices, manufacturers continued to show a recovery trend in capital investment.」
Although uncertainty remained in overseas markets, manufacturers’ capital investment was described as being on a recovery trend. Overseas construction orders received also increased 71.0% year on year, indicating that the improvement trend following the signs of recovery in the previous quarter continued. - FY2023-Q1MitigatedAnnual report
「Meanwhile, although uncertainty continued in overseas markets due to the impact of COVID-19, manufacturers showed signs of recovery in capital investment.」
Although uncertainty remained in overseas markets, the description changed to indicate signs of recovery in manufacturers’ capital investment. Overseas construction orders received also increased 33.4% year on year. - FY2022ReframedAnnual report
「Meanwhile, uncertainty continued in overseas markets due to the impact of COVID-19, and manufacturers remained cautious about capital investment.」
While uncertainty in overseas markets and manufacturers’ cautious approach to capital investment continued, full-year overseas construction orders received increased 0.4% year on year, and overseas completed construction revenue increased 9.4%. - FY2022-Q3ReframedAnnual report
「Meanwhile, the economy remained unstable due to the prolonged U.S.-China trade friction, higher resource prices and shortages of components, including semiconductors. …Meanwhile, uncertainty continued in overseas markets due to the impact of COVID-19. …Although construction orders received decreased overseas, they increased in Japan, totaling ¥145.511 billion, up 5.9% year on year. Of this amount, overseas construction orders received were ¥51.882 billion, down 26.3% year on year.」
While uncertainty in overseas markets continued, the global economy was described as being on a recovery path due to the spread of vaccines, alongside instability caused by trade friction, resource prices and component shortages. Overseas construction orders received decreased 26.3% year on year, while overseas completed construction revenue increased 16.4%, indicating differing impacts on orders received and completed construction revenue. - FY2022-Q2WorsenedAnnual report
「Meanwhile, uncertainty continued in overseas markets due to the impact of COVID-19.」
Uncertainty in overseas markets persisted, and overseas construction orders received decreased 32.8% year on year. In Southeast Asia as well, the pace of recovery slowed due to the resurgence of infectious diseases. - FY2022-Q1ReframedAnnual report
「Although investment by electronic-component manufacturers, automakers, and others remained firm in overseas markets, uncertainty due to the impact of the COVID-19 pandemic continued.」
Investment by overseas manufacturers is considered solid, while uncertainty related to infectious diseases persists. Overseas construction orders received were ¥14.285 billion, down 63.5% year on year, presenting a combination of regional conditions and order performance. - FY2021WorsenedAnnual report
「In overseas markets, capital investment by manufacturers in both the industrial air-conditioning and automotive paint sectors continued to be in an adjustment phase. …Orders for construction contracts during the fiscal year decreased in both Japan and overseas, totaling ¥200.469 billion, down 11.7% year on year. Overseas orders for construction contracts totaled ¥88.328 billion, down 13.7% year on year.」
The adjustment phase in capital investment by overseas manufacturers continued, and full-year overseas orders for construction contracts decreased 13.7% year on year. The impact of the market slowdown was reflected in full-year order results. - FY2021-Q3RestatedAnnual report
「In overseas markets, capital investment by manufacturers in both the industrial air-conditioning and automotive paint sectors continued to be in an adjustment phase.」
The view that capital investment by overseas manufacturers remains in an adjustment phase continues. Overseas orders for construction contracts increased 2.1% year on year, while overseas revenue from completed construction contracts decreased 1.1%, with the impact differing by metric. - FY2021-Q2WorsenedAnnual report
「In overseas markets, capital investment by manufacturers in both the industrial air-conditioning and automotive paint sectors continued to be in an adjustment phase.」
The adjustment phase in capital investment by overseas manufacturers continued. Overseas orders for construction contracts decreased 4.3% year on year, while overseas revenue from completed construction contracts decreased 16.1%. - FY2021-Q1WorsenedAnnual report
「In overseas markets, capital investment by manufacturers in both the industrial air-conditioning and automotive paint sectors entered an adjustment phase.」
Capital investment overseas entered an adjustment phase, and overseas revenue from completed construction contracts decreased 17.6% year on year. In contrast, overseas orders for construction contracts increased 61.2%, driven by large projects in Europe and elsewhere, resulting in a difference between orders and completed construction revenue. - FY2020WorsenedAnnual report
「In the Environmental Systems Business, orders for construction contracts may decline and affect the Group’s financial results and other matters due to delays in domestic redevelopment projects, lower capital investment by manufacturers, a delay in the recovery of investment following the Olympics, and lower investment by Japanese companies overseas. In the Paint Systems Business, the factors include the continued contraction of domestic production by Japanese automakers, lower capital investment due to sluggish global auto sales, and changes in investment areas resulting from the shift toward “CASE” (Connected, Autonomous/Automated, Shared, Electric).」
In addition to fluctuations in overseas markets and capital investment, the risk factors are specified in greater detail to include domestic redevelopment, manufacturing, automobile production and sales, and changes in investment areas driven by CASE. - FY2020-Q3WorsenedAnnual report
「In the Group’s market environment, the impact of the US-China trade friction and other factors led to signs of an adjustment among electronic-component manufacturers and others in Japan, but demand remained firm, supported by office-building construction investment in the Tokyo metropolitan area and capital investment by pharmaceutical manufacturers. Overseas, the sense of an economic slowdown intensified, although demand from automakers in North America remained strong. Against this backdrop, the Group’s orders for construction contracts during the first 9 months of the fiscal year decreased in both Japan and overseas, totaling ¥166.760 billion, down 10.6% year on year. Overseas orders for construction contracts totaled ¥68.966 billion, down 10.3% year on year. Revenue from completed construction contracts increased in Japan but decreased overseas, totaling ¥158.696 billion, up 2.6% year on year. Overseas revenue from completed construction contracts totaled ¥61.490 billion, down 13.5% year on year.」
Although overseas orders for construction contracts had increased 20.9% year on year in the previous quarter, they turned to a 10.3% decline in the current quarter, while overseas revenue from completed construction contracts also decreased 13.5%. The disclosure simultaneously indicates an economic slowdown in overseas markets and declines in orders and completed construction revenue. - FY2020-Q2WorsenedAnnual report
「In the Group’s market environment, uncertainty persisted in Japan due to the impact of the US-China trade friction and other factors, but demand remained strong, supported by investment by electronic-component manufacturers and others and office-building construction investment in the Tokyo metropolitan area. Overseas, the sense of an economic slowdown intensified, although demand from automakers in North America remained strong. Against this backdrop, the Group’s orders for construction contracts during the first 6 months of the fiscal year decreased in Japan but increased overseas, totaling ¥118.449 billion, down 0.1% year on year. Overseas orders for construction contracts totaled ¥51.827 billion, up 20.9% year on year. Revenue from completed construction contracts increased in Japan but decreased overseas, totaling ¥104.973 billion, up 6.2% year on year. Overseas revenue from completed construction contracts totaled ¥40.701 billion, down 7.0% year on year.」
The disclosure states that the sense of an economic slowdown intensified in overseas markets, and overseas revenue from completed construction contracts decreased 7.0% year on year. In contrast, demand in North America and overseas orders for construction contracts increased, with the impact differing by region and metric. - FY2020-Q1WorsenedAnnual report
「In Asia, China continued to experience weakened recovery momentum as corporate capital investment and personal consumption declined due to the impact of the US-China trade friction, and the overall sense of an economic slowdown intensified.」
In addition to the previously described regional fluctuations in orders, it was stated that corporate capital investment and personal consumption had declined in China and that the sense of an economic slowdown had intensified across Asia. - FY2019-Q3ReframedAnnual report
「In the Group’s market environment, investment by electronic-component manufacturers and others remained strong in Japan, and demand for office-building construction in the Tokyo metropolitan area continued to be high, although uncertainty persisted due to the impact of the US-China trade friction and other factors. Overseas, uncertainty persisted as economic conditions slowed, although demand from automakers in North America remained strong. Against this backdrop, the Group’s orders for construction contracts during the first 9 months of the fiscal year increased overseas but decreased in Japan, totaling ¥186.529 billion, up 14.4% year on year. Overseas orders for construction contracts totaled ¥76.852 billion, up 11.6% year on year. Revenue from completed construction contracts increased in Japan but decreased overseas, totaling ¥154.603 billion, down 4.7% year on year. Overseas revenue from completed construction contracts totaled ¥71.072 billion, down 16.6% year on year.」
Although uncertainty caused by the US-China trade friction persisted in overseas markets, overseas orders for construction contracts increased while overseas revenue from completed construction contracts decreased. The impact of overseas markets differed between orders and completed construction revenue. - FY2019-Q2ReframedAnnual report
「In the Group’s market environment, the Environmental Systems Business saw active investment in overseas markets, including Thailand and Vietnam. In Japan, investment by electronic-component manufacturers and others remained strong, and construction demand for office buildings in the Tokyo metropolitan area continued to be high. In the Paint Systems Business, active investment took place in China, India, and North America, despite uncertainty caused by the impact of the US-China trade friction and the renegotiation of NAFTA.」
While describing continued active investment and demand in overseas and domestic markets, it explicitly notes uncertainty in the Paint Systems Business due to the US-China trade friction and the renegotiation of NAFTA. Overseas orders for construction contracts decreased 15.8% year on year, with the impact differing by region and business. - FY2019-Q1ReframedAnnual report
「In the Group’s market environment, the Environmental Systems Business saw active investment in overseas markets, including Thailand and Vietnam. In Japan, construction demand remained high, particularly for redevelopment in the Tokyo metropolitan area, while investment by electronic-component manufacturers and others also remained strong. In the Paint Systems Business, active investment took place in North America, China, and India, despite uncertainty caused by trade friction.」
Although investment was active overseas, overseas orders for construction contracts decreased 12.3% year on year during the quarter. The description has shifted from a focus on slowing overseas markets to a situation in which active investment, uncertainty caused by trade friction, and lower orders coexist. - FY2018-Q3ReframedAnnual report
「Against this backdrop, the Group’s orders for construction contracts during the first 9 months of the fiscal year increased in Japan but decreased overseas, totaling ¥163.012 billion, down 2.7% year on year. Overseas orders for construction contracts totaled ¥68.857 billion, down 15.4% year on year. Revenue from completed construction contracts increased in both Japan and overseas, totaling ¥162.217 billion, up 22.8% year on year. Overseas revenue from completed construction contracts totaled ¥85.257 billion, up 32.9% year on year.」
Although overseas orders for construction contracts continued to decline, the rate of decline narrowed from 20.9% in the previous quarter to 15.4%, while revenue from completed construction contracts increased in both Japan and overseas. The impact of overseas markets differed between orders and completed construction revenue. - FY2018-Q2WorsenedAnnual report
「Against this backdrop, the Group’s orders for construction contracts during the first 6 months of the fiscal year decreased in both Japan and overseas, totaling ¥111.402 billion, down 11.6% year on year. Overseas orders for construction contracts totaled ¥50.887 billion, down 20.9% year on year.」
Although overseas orders for construction contracts had increased 74.7% year on year in the previous quarter, orders decreased in both Japan and overseas during the current quarter, with overseas orders down 20.9%. The impact of overseas markets and the capital investment environment was reflected in lower orders. - FY2018-Q1MitigatedAnnual report
「Asia generally continued to recover, and China also remained firm, particularly in personal consumption and infrastructure investment.」
In contrast to the slowdown in overseas markets and capital investment in China and elsewhere described through the previous fiscal year, economic conditions in Asia and China were described as recovering and remaining firm. Overseas orders for construction contracts during the quarter also increased 74.7% year on year. - FY2017WorsenedAnnual report
「Orders for construction contracts during the fiscal year increased in North America and Japan but decreased in China, Indonesia, and elsewhere, totaling ¥218.323 billion, down 1.6% year on year. Overseas orders for construction contracts totaled ¥110.050 billion, down 8.6% year on year.」
Although orders increased in North America and Japan, they decreased in China, Indonesia, and elsewhere, resulting in an 8.6% year-on-year decline in overseas orders for construction contracts. The impact of overseas markets and the capital investment environment was reflected in full-year performance. - FY2017-Q3ReframedAnnual report
「Against this backdrop, the Group’s orders for construction contracts during the first 9 months of the fiscal year decreased in China, Thailand, and elsewhere but increased in North America and Japan, reaching ¥167.618 billion, up 3.8% year on year. Overseas orders for construction contracts totaled ¥81.395 billion, up 1.4% year on year.」
Although orders continued to decline in China and Thailand, total orders for construction contracts increased 3.8% year on year, and overseas orders increased 1.4%, due to increases in North America and Japan. The impact of overseas markets varied by region. - FY2017-Q2RestatedAnnual report
「For the Group, orders for construction contracts during the first 6 months of the fiscal year decreased in China, Thailand, and elsewhere but increased in North America and Japan, reaching ¥126.013 billion, up 8.8% year on year. Overseas orders for construction contracts totaled ¥64.321 billion, up 0.1% year on year.」
Although orders continued to decline in some overseas markets, including China and Thailand, total orders for construction contracts increased 8.8% year on year due to increases in North America and Japan, indicating a mixed risk environment. The slowdown in overseas markets has materialized as actual order volatility, so materialized was set to true. - FY2017-Q1First statedAnnual report
「In Asia, capital investment generally remained sluggish, with China continuing to trend toward a slowdown.」
The business environment is described as involving a slowdown in China and sluggish capital investment in Asia. During the quarter, overseas orders for construction contracts decreased 58.2% year on year.