Client Caution on ICT Investment and Stalling Investment Demand
First written in FY2016. 15 of 35 entries say "Restated". Latest entry: 2026-04-28.
Core moved to the "Worse" side of this theme in 2017, 3 years before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 8 of 10 companies on the "Worse" side.
11 other companies' latest entry also says "Restated".
- 2026-04-28RestatedEarnings
「情報サービス産業では、賃上げの広がりや人手不足を背景に、業務効率化・自動化に向けたＩＴ投資の継続が見込まれ、クラウド、ＡＩ、セキュリティ関連の投資拡大が期待されます。」
人手不足や業務効率化を背景とするIT投資の継続期待を再掲している。 - FY2026-H1RestatedAnnual report
「In the information services industry, continued IT investment is expected as corporate performance expands, driven by demand for operational efficiency arising from labour shortages and strategic investment in digital transformation.」
The company reiterates its expectations for continued IT investment driven by labour shortages and DX investment, with no material change indicated in the risk of customers becoming more cautious about ICT investment. - FY2025-H1RestatedAnnual report
「In the information services industry, continued IT investment is expected as corporate performance expands, driven by demand for operational efficiency arising from labour shortages and strategic investment in digital transformation.」
The company reports expectations for continued IT investment driven by labour shortages and DX investment. At the same time, it notes concern that consumption may stagnate due to continued inflation and higher raw material prices resulting from yen depreciation. - FY2024RestatedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving, driven by labour shortages, has remained active, and this trend is expected to continue as corporate earnings improve.」
Corporate information technology investment is described as remaining active, and the company continues to assess that the risk of customers becoming more cautious about ICT investment has eased. - FY2024-Q3RestatedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving, driven by labour shortages, has remained active, and this trend is expected to continue as corporate earnings improve.」
The company continues to assess corporate information technology investment as active and expects it to continue as corporate earnings improve. - FY2024-Q2SoftenedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving, driven by labour shortages, has remained active, and this trend is expected to continue as corporate earnings improve.」
The company reports that corporate information technology investment has remained active and is expected to continue as corporate earnings improve, indicating that the risk of customers becoming more cautious about ICT investment has eased further. - FY2024-Q1SoftenedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving, driven by labour shortages, showed signs of recovery, and this trend is expected to continue as corporate earnings improve.」
The company continues to report a recovery in information technology investment driven by labour shortages and expectations for improved corporate earnings, indicating that the risk of customers becoming more cautious about ICT investment has continued to ease. - FY2023-Q3RestatedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving, driven by labour shortages, is recovering, and this trend is expected to continue as corporate earnings improve.」
Information technology investment driven by labour shortages is described as showing signs of recovery, and the assessment that the risk of customers becoming more cautious about ICT investment has eased somewhat remains unchanged. - FY2023-Q2RestatedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving, driven by labour shortages, is recovering, and this trend is expected to continue as corporate earnings improve.」
Information technology investment driven by labour shortages is described as showing signs of recovery, and the assessment that the risk of customers becoming more cautious about ICT investment has eased somewhat remains unchanged. - FY2023-Q1SoftenedAnnual report
「In the information services industry, information technology investment by companies for rationalisation and labour saving, driven by labour shortages, showed signs of recovery, and this trend is expected to continue as corporate earnings improve.」
Information technology investment driven by labour shortages is described as showing signs of recovery, indicating that the risk of customers becoming more cautious about ICT investment has eased somewhat. - FY2022SoftenedAnnual report
「In the information services industry, information technology investment by companies for rationalisation and labour saving, driven by labour shortages, showed signs of recovery as economic activity normalised, and this trend is expected to continue as corporate earnings improve.」
The company reports signs of recovery in information technology investment against the backdrop of normalising economic activity and improving corporate earnings, indicating that the risk of customers becoming more cautious about ICT investment has eased somewhat. - FY2022-Q3WorsenedAnnual report
「During the first nine months of the current fiscal year, Japan’s economy was gradually recovering as economic activity picked up with rising vaccination rates against COVID-19 and declining numbers of infections. However, concern remains that economic activity may stagnate again as new variants spread rapidly. In addition, the global supply constraints have continued to cause a semiconductor shortage and higher prices for resources such as crude oil. If these conditions persist, they are expected to lead to severe inflation, and the outlook for the global economy as a whole remains uncertain.」
Although signs of an economic recovery driven by vaccination and other factors are indicated, the company reports concern about a slowdown in economic activity due to the rapid spread of variants, the continued semiconductor shortage and higher resource prices, and inflation concerns, indicating that external environment risks have worsened since the previous quarter. - FY2022-Q2Recovery expectations coexist with supply constraints and concern about a resurgence of infectionsAnnual report
「Meanwhile, concern about the economic outlook remains due to the global semiconductor shortage and higher prices for resources such as crude oil. A resurgence of infections is also possible because vaccination rates for COVID-19 differ by region, and the outlook therefore remains uncertain.」
Although expectations for an economic recovery as vaccination progresses are indicated, the semiconductor shortage, higher resource prices, regional differences in vaccination rates and concern about a resurgence of infections are newly presented alongside them. - FY2022-Q1SoftenedAnnual report
「Although private consumption remains weak, corporate production and capital investment are beginning to recover, and digitalisation is gaining momentum against the backdrop of labour shortages and changes in work styles.」
Although weak private consumption and weak activity in non-manufacturing sectors remain, corporate production and capital investment are beginning to recover, while digitalisation is gaining momentum against the backdrop of labour shortages and changes in work styles. The risk of customers becoming more cautious about ICT investment is described as having eased somewhat. - FY2021RestatedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, but investment is showing weak momentum amid concern about deteriorating corporate earnings.」
The company states that although information technology investment driven by labour shortages continues, investment remains weak amid concern about deteriorating corporate earnings. - FY2021-Q3RestatedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, but investment is showing weak momentum amid concern about deteriorating corporate earnings.」
Although information technology investment driven by labour shortages continues, investment remains weak amid concern about deteriorating corporate earnings. There has been no significant change in the nature of the risks since the previous quarter. - FY2021-Q2RestatedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, but investment is showing weak momentum amid concern about deteriorating corporate earnings.」
Although information technology investment driven by labour shortages continues, investment remains weak amid concern about deteriorating corporate earnings. - FY2021-Q1WorsenedAnnual report
「In the information services industry, corporate information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, but investment has weakened and become more cautious amid concern about deteriorating corporate earnings.」
The possibility of more cautious investment due to COVID-19 identified in the previous fiscal year is described in the first quarter as weakening information technology investment amid concern about deteriorating corporate earnings. - FY2020WorsenedAnnual report
「In the information services industry, underlying corporate appetite for IT investment remains, including rising demand for operational efficiency and strategic investment in digital transformation, but a cautious stance is expected because the outlook is uncertain.」
Although the company recognises underlying appetite for IT investment, it explicitly states that customer investment may become more cautious due to uncertainty caused by COVID-19. - FY2020-Q3RestatedAnnual report
「During the first nine months of the current fiscal year, Japan’s economy continued on a gradual recovery trend, supported by solid corporate earnings and improving employment and income conditions, despite economic risks including successive natural disasters and consumption trends following the consumption tax increase. Meanwhile, although concern about US-China trade friction had begun to recede, various issues continued to raise concern about their impact on the economy, including trade friction between the US and China, the UK’s withdrawal from the EU and geopolitical risks in the Middle East and Asia. The outlook therefore remained uncertain. The information services industry remained firm as corporate information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, with demand for advanced fields such as AI (artificial intelligence) and IoT (Internet of Things) remaining particularly active.」
Although concern about natural disasters, the consumption tax increase, US-China trade friction, the UK’s withdrawal from the EU and geopolitical risks continues, the company reconfirms the coexistence of persistently active demand for information technology investment in AI, IoT and other areas. - FY2020-Q2RestatedAnnual report
「Meanwhile, the global economy remains uncertain, with concern about its future impact from trade friction with China and Europe resulting from US economic policy and geopolitical risks in the Middle East and Asia. The information services industry remained firm as corporate information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, with demand for advanced fields such as AI (artificial intelligence) and IoT (Internet of Things) remaining particularly active.」
The company reconfirms the coexistence of continued concern about an economic downturn due to trade friction and geopolitical risks and continued strong demand for information technology investment in advanced fields such as AI and IoT. - FY2020-Q1Macroeconomic concerns coexist with demand for information technology investmentAnnual report
「Meanwhile, the global economy remains uncertain, with concern about a future economic slowdown due to factors including US-China trade friction and rising tensions in the Middle East. The information services industry remained firm as corporate information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, with demand for advanced fields such as AI (artificial intelligence) and IoT (Internet of Things) particularly active.」
Although concern about an economic slowdown due to US-China trade friction and conditions in the Middle East is evident, demand for information technology investment in AI and IoT remains active, with the risk of stagnant customer investment presented alongside firm demand. - FY2019RestatedAnnual report
「The information services industry remained firm as information technology investment for rationalisation and labour saving continued against the backdrop of the worsening social labour shortage, and demand for advanced fields such as AI (artificial intelligence) and IoT (Internet of Things) became particularly active.」
The company reports that demand for information technology investment in AI and IoT has become more active against the backdrop of labour shortages, with no indication that the previous concern about stagnant ICT investment has intensified. - FY2019-Q3SoftenedAnnual report
「In the information services industry, demand for information technology investment in AI, IoT and other areas aimed at rationalisation and labour saving continued to increase.」
Although downside risks from US trade policy and natural disasters remain, demand for information technology investment in AI, IoT and other areas continues to increase, further easing concerns about stagnation in customers’ ICT investment. - FY2019-Q2SoftenedAnnual report
「During the first six months of the current fiscal year, Japan’s economy remained on a gradual recovery trend as improved corporate earnings and a recovery in private consumption offset uncertainty about the outlook arising from downside risks to the global economy caused by US trade policy and a series of natural disasters in Japan. In the information services industry, demand for information technology investment in AI, IoT and other areas aimed at rationalisation and labour saving continued to increase.」
Although the company reports downside risks from US trade policy and natural disasters, the economy remains on a recovery trend and demand for information technology investment in AI, IoT and other areas continues to increase, meaning concerns about stagnation in ICT investment have continued to ease. - FY2019-Q1SoftenedAnnual report
「During the first quarter of the current fiscal year, Japan’s economy remained on a gradual recovery trend, although it lacked some strength, as economic activity remained firm against the backdrop of increased exports accompanying the recovery in overseas economies and improved corporate earnings, while private consumption showed signs of recovery as employment and income conditions improved. In the information services industry, demand for information technology investment continued to increase, particularly in new technology fields such as AI and IoT aimed at automation and labour saving.」
The company reports firm economic activity, a recovery in private consumption and increased demand for information technology investment, particularly in AI and IoT, indicating that concerns about stagnation in customers’ ICT investment have eased further. - FY2018SoftenedAnnual report
「In the information services industry, corporate sentiment is turning toward information technology investment for rationalisation and labour saving to address the worsening social labour shortage, and investment demand in advanced fields such as AI (artificial intelligence) and IoT (Internet of Things) has become particularly active.」
Investment demand for rationalisation, labour saving and advanced fields such as AI and IoT has become more active against the backdrop of labour shortages, further easing concerns about stagnation in ICT investment overall. - FY2018-Q3SoftenedAnnual report
「In the information services industry, demand has expanded for information technology investment to address the worsening labour shortage and for infrastructure construction ahead of the Olympics, while corporate investment in advanced fields such as AI (artificial intelligence) and IoT (Internet of Things) has also become more active. Against this backdrop, IT vendors continue to be required to respond flexibly and promptly to the demands of a changing era.」
Although cautious corporate activity and concern about conditions in the US and Asia remain, the company reports active information technology investment driven by labour shortages, demand related to infrastructure and increased corporate investment in advanced fields such as AI and IoT, indicating that concerns about ICT investment overall have eased further to some extent. - FY2018-Q2SoftenedAnnual report
「During the first six months of the current fiscal year, Japan’s economy was on a recovery trend, supported by increased exports as overseas economies recovered and firm domestic demand. However, corporate activity remained cautious amid concern about US policy and developments in Asia. In the information services industry, corporate investment in growth areas such as AI (artificial intelligence) and IoT (Internet of Things) has remained firm in response to expanding global ICT (information and communications technology) demand. IT vendors continue to be required to respond flexibly and promptly to the demands of a changing era.」
Although cautious corporate activity and concern about conditions in the US and Asia remain, the company reports a recovery trend in overseas economies and domestic demand and firm corporate investment in growth areas such as AI and IoT, indicating that concerns about ICT investment overall have eased somewhat. - FY2018-Q1SoftenedAnnual report
「During the first quarter of the current fiscal year, Japan’s economy showed signs of improvement in corporate sentiment, supported by increased exports accompanying the gradual recovery in the global economy and expectations for government measures to increase public investment. Nevertheless, economic activity remained cautious amid concern about political conditions in Japan and overseas. In the information services industry, the expansion of global ICT (information and communications technology) demand and progress in corporate investment in growth areas such as AI (artificial intelligence) and IoT (Internet of Things) have contributed to a recovery in economic sentiment. IT vendors are required to respond flexibly and promptly to the demands of a changing era.」
Although concern about political conditions and cautious economic activity remain, the company reports a gradual recovery in the global economy, expanding ICT demand and progress in corporate investment in areas such as AI and IoT, indicating that concerns about ICT investment overall have eased somewhat. - FY2017SoftenedAnnual report
「In the information services industry, investment has become more active in growth areas generating new value through ICT (information and communications technology), including the use of AI (artificial intelligence) and IoT (Internet of Things).」
Although uncertainty over global conditions and weak private consumption remain, the company reports increased investment in growth areas such as AI and IoT, indicating that concerns about ICT investment overall have eased somewhat. - FY2017-Q3SoftenedAnnual report
「During the first nine months of the current fiscal year, Japan’s economy gradually recovered on the back of a weaker yen and higher share prices, and employment and income conditions remained favourable. Nevertheless, private consumption continued to be sluggish, while economic activity remained cautious amid uncertainty over global conditions. In the information services industry, investment in growth areas generating new value through ICT, including the use of AI (artificial intelligence) and IoT (Internet of Things), has become more active.」
Although sluggish private consumption and uncertainty over global conditions remain, the company reports a gradual economic recovery and increased investment in growth areas such as AI and IoT, indicating that broad concerns about stagnant investment have eased somewhat. - FY2017-Q2RestatedAnnual report
「During the first six months of the current fiscal year, Japan’s economy remained uncertain amid sluggish consumption caused by a sense of economic stagnation resulting from yen appreciation, as well as concerns about downside risks to the global economy.」
The company continues to recognize uncertainty about the outlook due to yen appreciation, sluggish consumption and concerns about downside risks to the global economy. The risk section itself states that there have been no significant changes. - FY2017-Q1RestatedAnnual report
「During the first quarter of the current fiscal year, Japan’s economy showed signs of stagnation in the recovery of corporate earnings and private consumption due to the global economic slowdown, the stock market’s prolonged weakness since the beginning of the year and the appreciation of the yen. The outlook for economic conditions remains uncertain. In the information services industry, software investment in manufacturing, financial services and other sectors continues to recover despite worsening economic sentiment, suggesting continued growth, while investment in telecommunications and related sectors requires attention.」
The company continues to recognize uncertainty caused by the global economic slowdown and yen appreciation, while noting the recovery in software investment in manufacturing and financial services and the need to monitor investment in telecommunications and related sectors. - FY2016First statedAnnual report
「As corporate sentiment has become more cautious amid the sharp slowdown in the global economy, concern has arisen that investment in information systems and other areas may stall going forward.」
The company recognizes a decline in corporate investment sentiment and stagnation in information systems investment resulting from the global economic slowdown as external risks.