Declining investment appetite among major customers of the store fit-out industry
First written in FY2018-Q2. 9 of 26 entries say "Restated". Latest entry: 2026-09-11.
Maruzen CHI Holdings moved to the "Worse" side of this theme in 2024, 5 years after the typical company in this theme (2019).
The whole theme swung hardest in 2020: 62 of 77 companies on the "Worse" side.
22 other companies' latest entry also says "Mitigated".
- 2026-09-11MitigatedFinancial Results Presentation
「書店・小売店舗向けの設計・デザイン・内装事業（丸善雄松堂㈱の事業）では、旺盛な改装・リニューアル需要を背景に受注額を伸ばし、増収増益となりました。」
店舗内装業では改装・リニューアル需要を背景に受注額が増加し、従来の案件減少による減収減益から増収増益へ改善した。 - FY2027-H1RestatedAnnual report
「During the current interim consolidated accounting period, there were no occurrences of matters relating to the business and financial positions described in this interim report that could have a material impact on investors' decisions, and no material changes to the "Business and Other Risks" described in the securities report for the previous fiscal year. There are also no material events or conditions to report.」
The disclosure states that there was no material change regarding the decline in investment appetite among key customers in store interior construction. - 2026-03-13MitigatedFinancial Results Presentation
「Customers' appetite for opening and renovating stores has been recovering, resulting in higher revenue and profit.」
In the design, architecture and interior business for bookstores and retailers, customers' appetite for opening and renovating stores has begun to recover, indicating a weakening of the previously identified risk of declining projects. - FY2026-H1MaterialisedAnnual report
「The comprehensive childcare services business and the PC repair business performed well, but a decrease in store interior construction projects resulted in revenue of ¥5,552 million, down 1.9% year on year, and operating income of ¥207 million, down 10.1%.」
The decline in store interior construction projects materialised in actual results as revenue decreased by 1.9% and operating income by 10.1%. No direct causal relationship with investment appetite among key customers is stated. - FY2025-H1MaterialisedAnnual report
「The comprehensive childcare services business and the PC repair business performed well, but a decrease in store interior construction projects resulted in revenue of ¥5,552 million, down 1.9% year on year, and operating income of ¥207 million, down 10.1%.」
The decline in store interior construction projects materialised in decreases in both revenue and income, with revenue down 1.9% and operating income down 10.1%. The disclosure does not state a direct causal relationship with investment appetite among key customers. - FY2024-Q3MitigatedAnnual report
「For the first nine-month consolidated cumulative period, the comprehensive childcare services and store interior construction businesses performed well, resulting in revenue of ¥8,187 million, up 3.3% year on year.」
Store interior construction was described as performing well, and the weakening of the risk of fewer interior construction orders due to lower investment appetite among key customers continued from its previous deterioration. - FY2024-Q1MitigatedAnnual report
「For the first three-month consolidated cumulative period, the comprehensive childcare services and store interior construction businesses performed well, but customer traffic recovered slowly in the business providing PC repairs and upgrade setup services. Revenue therefore decreased to ¥2,774 million, down 2.7% year on year.」
Store interior construction was described as performing well, indicating that the risk of fewer interior construction orders due to lower investment appetite among key customers was weakening from its previous deterioration. However, revenue across the Other Businesses segment decreased because customer traffic at the PC repair business recovered slowly. - FY2023RestatedAnnual report
「However, supply delays for some components amid the semiconductor shortage, the failure of customer traffic to recover and the impact of applying the Revenue Recognition Accounting Standard and other standards resulted in revenue of ¥10,703 million, down from ¥12,015 million in the same period of the previous year, and operating income of ¥204 million, down 36.4% from the previous fiscal year.」
Although store interior construction was recovering year on year, weak customer traffic and component supply delays due to the semiconductor shortage continued, resulting in decreases in both revenue and income across the Other Businesses segment. - FY2023-Q3MitigatedAnnual report
「For the first nine-month consolidated cumulative period, the comprehensive childcare services business performed well, and store interior construction was on a recovery trend compared with the previous fiscal year.」
Regarding the risk of fewer orders due to lower investment appetite among key customers in store interior construction, the disclosure states that store interior construction was recovering year on year, indicating that the impact was weakening from its previous deterioration. - FY2023-Q2RestatedAnnual report
「For the first six-month consolidated cumulative period, the comprehensive childcare services business performed steadily. Store interior construction maintained revenue approximately at the previous fiscal year's level but did not turn to an upward trend. In the business providing PC repairs and upgrade setup services, supply delays occurred for some components amid a semiconductor shortage, and customer traffic had not recovered even after activity restrictions were eased. The application of the Revenue Recognition Accounting Standard and other standards also affected results. Revenue decreased to ¥5,431 million from ¥6,494 million in the same period of the previous year, and operating income decreased to ¥101 million, down 52.7%.」
Store interior construction has not turned to an upward trend driven by a recovery in investment appetite among key customers, and weak orders continue. - FY2023-Q1Orders continue to decline, but income increasesAnnual report
「Amid the difficult environment created by the prolonged COVID-19 pandemic, orders for large-store openings and renovation projects in store interior construction continued to decline because investment appetite among key customers did not recover. Customer traffic also failed to recover in the business providing PC repairs and upgrade setup services, and the application of the Revenue Recognition Accounting Standard and other standards also affected results. Revenue consequently decreased to ¥2,851 million from ¥3,557 million in the same period of the previous year. Profitability, however, improved as a result of efforts to reduce selling, general and administrative expenses, with operating income increasing 27.9% year on year to ¥79 million.」
Revenue decreased as orders for large-store openings and renovation projects in store interior construction declined and customer traffic at the PC repair business remained weak. Operating income, however, increased 27.9% year on year through reductions in selling, general and administrative expenses. - FY2022Orders continue to decline, resulting in full-year decreases in revenue and incomeAnnual report
「For the current consolidated fiscal year, the comprehensive childcare services business maintained approximately the previous year's level. In store interior construction, however, the prolonged COVID-19 pandemic prevented investment appetite among key customers from recovering, reducing orders for large-store openings and renovation projects. Orders therefore declined again, as in the previous fiscal year. Revenue decreased to ¥12,015 million, down 10.9% year on year, and operating income decreased to ¥321 million, down 46.6%.」
Investment appetite among key customers did not recover, and the decline in orders for large-store openings and renovation projects continued throughout the year. Revenue decreased by 10.9% and operating income by 46.6%. - FY2022-Q3WorsenedAnnual report
「For the first nine-month consolidated cumulative period, the comprehensive childcare services business performed broadly as planned. In store interior construction, however, the prolonged COVID-19 pandemic prevented investment appetite among key customers from recovering, and projects for large new stores and renovations decreased, resulting in another decline in orders. Revenue therefore decreased to ¥9,233 million, down 8.5% year on year, and operating income decreased to ¥256 million, down 54.1%.」
Investment appetite among key customers did not recover, and the decline in orders for large projects continued. Revenue decreased by 8.5% and operating income by 54.1%, with the decline worsening from the 30.1% decrease in income in the previous quarter. - FY2022-Q2Orders continue to decline, but the decrease in income narrowsAnnual report
「For the first six-month consolidated cumulative period, the prolonged COVID-19 pandemic prevented investment appetite among key customers in store interior construction from recovering. Projects for large new stores and renovations decreased, resulting in another decline in orders. Revenue therefore decreased to ¥6,494 million, down 3.0% year on year, and operating income decreased to ¥213 million, down 30.1%.」
Investment appetite among key customers did not recover, and orders for large projects continued to decline. However, the year-on-year decrease in operating income was 30.1%, narrowing from the 71.6% decrease in the previous quarter. - FY2022-Q1MaterialisedAnnual report
「For the first three-month consolidated cumulative period, the prolonged COVID-19 pandemic prevented investment appetite among key customers in store interior construction from recovering. With few new large-store and renovation construction projects, orders fell substantially again, as they had in the previous year. As a result, revenue decreased to ¥3,557 million, down 2.3% year on year, and operating income decreased to ¥61 million, down 71.6%.」
The prolonged COVID-19 pandemic prevented investment appetite among key customers from recovering, and the shortage of large new-store and renovation projects continued. The impact of fewer orders materialised in revenue down 2.3% and operating income down 71.6%. - FY2021RestatedAnnual report
「For the current consolidated fiscal year, the spread of COVID-19 reduced investment appetite among key customers in store interior construction, and the suspension of sales visits resulted in large new-store and renovation projects being postponed or cancelled, leading to a substantial decline in orders.」
In store interior construction, large projects were postponed or cancelled because of lower investment appetite among key customers and the suspension of sales visits, and the decline in orders was reflected in full-year results. - FY2021-Q2MaterialisedAnnual report
「For the first six-month consolidated cumulative period, COVID-19 reduced investment appetite among key customers in store interior construction, resulting in fewer orders for new and renovated stores. Revenue therefore decreased to ¥6,692 million, down 9.4% year on year, and operating income decreased to ¥305 million, down 41.4%.」
COVID-19 reduced investment appetite among key customers, which materialised in fewer orders for new and renovated stores. Revenue decreased by 9.4% and operating income by 41.4%. - FY2021-Q1RestatedAnnual report
「During the cumulative first-quarter consolidated period, there were no material changes in matters described in this quarterly report concerning the status of the business, financial information and other matters that could materially affect investors' decisions, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there was no material change regarding the decline in investment appetite among key customers in store interior construction. It separately identifies delays and cancellations of construction periods during the quarter as an impact of COVID-19. - FY2020MitigatedAnnual report
「For the current consolidated fiscal year, all businesses performed well, resulting in revenue of ¥14,393 million, up 11.8% year on year, and operating income of ¥913 million, up 46.4%, producing increases in both revenue and income.」
The Other Businesses segment, including store interior construction, recorded increases in both revenue and income for the full year. The adverse impact of reduced investment appetite among key customers, noted through the previous fiscal year, weakened in actual results for the current period. - FY2020-Q3RestatedAnnual report
「During the cumulative third-quarter consolidated period, there were no material changes in matters described in this quarterly report concerning the status of the business, financial information and other matters that could materially affect investors' decisions, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there was no material change regarding the decline in investment appetite among key customers in store interior construction. - FY2020-Q2RestatedAnnual report
「During the cumulative second-quarter consolidated period, there were no significant changes in the matters described in the quarterly report concerning business conditions and financial information that could materially affect investors’ decisions, or in the business risks described in the securities report for the previous fiscal year.」
The disclosure states that there was no material change regarding the decline in investment appetite among key customers in store interior construction. - FY2020-Q1MitigatedAnnual report
「For the first three-month consolidated cumulative period, all businesses performed steadily. In particular, the increase in store interior construction projects resulted in revenue of ¥3,763 million, up 18.1% year on year, and operating income of ¥297 million, up 66.4%, producing increases in both revenue and income.」
Projects increased during the quarter, despite the decline in investment appetite among key customers in store interior construction noted through the previous fiscal year, resulting in revenue up 18.1% and operating income up 66.4%. - FY2019-Q3RestatedAnnual report
「During the cumulative third-quarter consolidated period, there were no material changes in matters described in this quarterly report concerning the status of the business, financial information and other matters that could materially affect investors' decisions, or in the business and other risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there was no material change regarding the decline in investment appetite among key customers in store interior construction. It also states that gross margin improved in store interior construction within the Other Businesses segment. - FY2018RestatedAnnual report
「For the current consolidated fiscal year, the decline in investment appetite among key customers in the store interior construction business continued from the previous year. Revenue therefore decreased to ¥12,535 million, down 8.5% year on year, and operating income decreased to ¥379 million, down 26.8%.」
The decline in investment appetite among key customers in store interior construction continued throughout the year and was reflected in results, with revenue down 8.5% and operating income down 26.8%. - FY2018-Q3MaterialisedAnnual report
「For the first nine-month consolidated cumulative period, the decline in investment appetite among key customers in the store interior construction business continued from the previous year. Revenue therefore decreased to ¥9,473 million, down 12.8% year on year, and operating income decreased to ¥397 million, down 26.8%.」
The decline in investment appetite among key customers in store interior construction continued and was reflected in the first nine-month results, with revenue down 12.8% and operating income down 26.8%. - FY2018-Q2First statedAnnual report
「For the first six-month consolidated cumulative period, the decline in investment appetite among key customers in the store interior construction business, which began in the second half of the previous year, continued during the current period. As a result, revenue decreased to ¥6,137 million, down 17.6% year on year, and operating income decreased to ¥242 million, down 36.3%.」
The decline in investment appetite among key customers in store interior construction continued from the second half of the previous year and was reflected in actual results, with revenue down 17.6% and operating income down 36.3%.