Dependence on domestic economic conditions, housing starts and corporate performance
First written in FY2016. 7 of 18 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2026-H1.
Inaba Seisakusho moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 35 of 50 companies on the "Worse" side.
13 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「Amid a continuing decline in new housing starts, market conditions remained weak, partly because personal consumption was sluggish amid rising prices.」
The situation in which declining housing starts and sluggish personal consumption affect demand for steel sheds has continued. - FY2025MaterialisedAnnual report
「In the steel shed market, housing starts remained unstable due to factors such as soaring material prices and shortages of human resources, and demand declined. Market conditions remained weak, partly because personal consumption was sluggish amid rising prices.」
Demand fluctuations affected by domestic housing starts, personal consumption and material prices have continued to materialize as instability and declining demand in housing starts and sluggish personal consumption. - FY2025-H1MaterialisedAnnual report
「In the steel storage shed market, housing starts remained unstable and demand declined because of surging material costs and labor shortages. In addition, personal consumption was weak as prices rose, and market conditions are weakening.」
Demand fluctuations arising from dependence on domestic housing starts and personal consumption have materialized as instability and declining demand in housing starts and sluggish personal consumption. - FY2024MaterialisedAnnual report
「The business environment was difficult due in part to sluggish personal consumption resulting from higher product prices and persistently high prices.」
The risk of demand fluctuations arising from dependence on domestic economic conditions and personal consumption materialized throughout the fiscal year in sluggish personal consumption due to high prices and product price increases, as well as difficult conditions in the steel shed market. - FY2024-Q2RestatedAnnual report
「The steel storage shed industry in which the Group operates faces a challenging business environment, partly because higher product prices and persistently elevated inflation have weighed on personal consumption.」
The filing continues to recognize that the steel shed market is in a difficult situation, affected by domestic personal consumption, prices and product prices. - FY2024-Q1MaterialisedAnnual report
「The steel storage shed market remains challenging, partly because higher product prices and persistently elevated inflation have weighed on personal consumption.」
The risk of demand fluctuations arising from dependence on domestic economic conditions and personal consumption has materialized in sluggish personal consumption due to higher prices and product price increases, as well as difficult market conditions in the steel shed market. - FY2023WorsenedAnnual report
「For the business environment in the following consolidated fiscal year, demand for steel sheds is expected to remain weak, given the decline in demand after price revisions and the negative trend in real wage growth, as wage growth has failed to keep pace with rising consumer prices.」
In addition to weakness during the current consolidated fiscal year, shed demand is expected to remain weak in the following consolidated fiscal year due to lower demand after price revisions and negative real wage growth. - FY2023-Q3WorsenedAnnual report
「In the steel shed market, the number of new owner-occupied housing starts declined as new-build demand driven by the increased need to work from home during the COVID-19 pandemic ran its course. In addition, selling prices rose in response to soaring material prices, and demand for sheds remained weak.」
Shed demand remains weak against a backdrop of declining new owner-occupied housing starts and higher selling prices. Whereas the previous filing noted a recovery in housing starts, the current filing explicitly notes a decline in new housing starts. - FY2023-Q2WorsenedAnnual report
「In the steel shed market, the number of new owner-occupied housing starts declined as new-build demand driven by the increased need to work from home during the COVID-19 pandemic ran its course. In addition, selling prices rose in response to soaring material prices, and demand for sheds remained weak.」
Shed demand remains weak against a backdrop of declining new owner-occupied housing starts and higher selling prices. Whereas the previous filing noted a recovery in housing starts alongside weak shed demand, the current filing notes a decline in new housing starts. - FY2022-Q2Housing starts recover while shed demand remains weakAnnual report
「In the steel shed market, the number of new starts of owner-occupied and subdivided detached homes increased, but demand for sheds remained weak as stay-at-home demand during the COVID-19 pandemic ran its course.」
Although housing starts turned upward, shed demand weakened as stay-at-home demand ran its course, showing continued fluctuations arising from dependence on domestic housing-related demand. - FY2022-Q1MaterialisedAnnual report
「Demand for sheds remained weak as stay-at-home demand during the COVID-19 pandemic ran its course.」
The demand fluctuations inherent in a business structure affected by domestic economic conditions, housing-related demand and other factors have materialized as weakness in shed demand following the end of stay-at-home demand. - FY2021-Q3RestatedAnnual report
「In the steel shed market, the number of new starts of owner-occupied and subdivided detached homes declined, but demand for steel sheds remained strong as the need for storage in daily life and measures to address COVID-19 increased. In the office furniture market, demand for office relocations and renovations remained weak due to the spread of working from home, restrained investment and cost-cutting in response to deteriorating corporate performance.」
While the decline in housing starts and weakness in office demand resulting from deteriorating corporate performance and other factors continued, demand for steel sheds was supported by storage needs and demand for measures to address COVID-19. - FY2021-Q2MaterialisedAnnual report
「In the steel shed market, the number of new starts of owner-occupied and subdivided detached homes declined, but demand remained strong as the need for storage in daily life and measures to address COVID-19 increased. In the office furniture market, demand for office relocations and renovations remained weak due to the spread of working from home, restrained investment and cost-cutting in response to deteriorating corporate performance.」
While the decline in housing starts and weakness in office demand resulting from deteriorating corporate performance and other factors became evident, demand for steel sheds was supported by storage needs and demand for measures to address COVID-19. - FY2021-Q1MaterialisedAnnual report
「In the steel shed market, demand for new construction of owner-occupied and subdivided detached homes continued to decline. However, demand for steel sheds remained firm as the need for storage in daily life increased even after pent-up demand during the period of the state of emergency had run its course. In the office furniture market, demand remained weak as the spread of working from home due to the impact of COVID-19, along with restrained investment and cost-cutting in response to deteriorating corporate performance, reduced demand for office furniture.」
The decline in housing-start demand and weakness in office furniture demand resulting from deteriorating corporate performance and other factors have materialized as demand fluctuations associated with dependence on domestic economic conditions, housing starts and corporate performance. - FY2020WorsenedAnnual report
「Almost all of our Group's sales are domestic. Accordingly, trends in the domestic economy, demographics and other factors may affect the business activities of the steel shed and office furniture segments.」
In addition to the previously noted dependence on domestic economic conditions, demographic trends are now explicitly identified as a factor, and the demand risk associated with dependence on domestic sales continues to be disclosed. - FY2018RestatedAnnual report
「Almost all sales by our Group are domestic. Accordingly, demand for our products is significantly affected by trends in the domestic economy.」
The filing continues to identify the risk of demand fluctuations arising from dependence on domestic sales and the effects of domestic economic conditions, housing starts, household consumption and corporate performance. - FY2017RestatedAnnual report
「Almost all sales by our Group are domestic. Accordingly, demand for our products is significantly affected by trends in the domestic economy.」
The filing continues to identify the risk of demand fluctuations arising from dependence on domestic sales and the effects of domestic economic conditions, housing starts, household consumption and corporate performance. - FY2016First statedAnnual report
「Almost all sales by our Group are domestic. Accordingly, demand for our products is significantly affected by trends in the domestic economy.」
The filing identifies the risk that, as domestic sales account for the majority of sales, steel sheds are affected by housing starts and household consumption, while office furniture is affected by corporate performance.