Changes in Order Volumes and Contract Prices Driven by Public Investment and Fiscal Policy
First written in FY2016. 12 of 37 entries say "Worsened", first in FY2017-Q2. Latest entry: 2026-08-06.
Miyaji Engineering Group moved to the "Worse" side of this theme in 2019, 1 year after the typical company in this theme (2018).
The whole theme swung hardest in 2024: 7 of 31 companies on the "Worse" side.
2 other companies' latest entry also says "Worsened".
- 2026-08-06WorsenedEarnings
「In our core bridge business, steel-tonnage-based orders, which had exceeded 100,000 tonnes in recent years, are expected to fall below the previous fiscal year’s 96,000 tonnes, the lowest level on record.」
Steel-tonnage-based order volume was expected to fall below the previous fiscal year’s record low. - FY2026WorsenedAnnual report
「New-construction orders by value totaled ¥199 billion, substantially below the ¥252.5 billion recorded in the previous fiscal year, based on the Company's calculations in both cases. In addition, orders by steel weight, which had remained above 100,000 tonnes in recent years, fell below that level during the fiscal year to 96,000 tonnes.」
New-construction orders totaled ¥199 billion by value and 96,000 tonnes by steel weight, below the previous fiscal year's results and recent levels. Orders for the following fiscal year were also expected to decline to ¥180 billion for new construction and ¥195 billion for maintenance. - FY2026-H1WorsenedAnnual report
「In the Group's core bridge business, orders related to large-scale renewal and maintenance were expected to total ¥190 billion, approximately the same level as in the previous fiscal year, according to the Company's estimate, while new-construction orders were expected to total ¥220 billion, down 13% year on year, according to the Company's estimate. Even in large-scale renewal and maintenance, where the order market was expected to remain at approximately the same level, the trend of reducing or postponing the scale of new contract work continued, partly because existing contracted projects required substantial additional budgets.」
The projected order market for new construction was ¥220 billion, down 13% year on year, and reductions and postponements of new contract work continued in maintenance, according to the explanation. - FY2025-H1WorsenedAnnual report
「In the Group's core bridge business, ¥250 billion in new-construction orders was expected for the current fiscal year, approximately the same amount by value as in the previous fiscal year, according to the Company's estimate. However, measured by weight, based on figures compiled by the Japan Bridge Construction Association, actual orders were progressing at a pace below the already sluggish level in the same period of the previous year, partly because of rising prices, with the decline in orders from the Ministry of Land, Infrastructure, Transport and Tourism particularly pronounced. The projected order market for large-scale renewal and maintenance also declined substantially from the ¥280 billion assumed at the beginning of the fiscal year to ¥210 billion, according to the Company's estimates in both cases, partly because scheduled large-scale projects were carried over to the next fiscal year or later.」
New-construction orders were expected to total ¥250 billion by value, while actual orders by weight were even lower than in the same period of the previous year, and the decline in orders from the Ministry of Land, Infrastructure, Transport and Tourism was also described as significant. The projected maintenance order market declined from ¥280 billion to ¥210 billion, and risks related to order volumes and timing worsened. - FY2024-Q3WorsenedAnnual report
「Under these circumstances, the outlook for the scale of projects expected to be awarded during the current fiscal year in the Group's core bridge business, including road and railway bridges, remains unchanged for new construction, at ¥275 billion versus the ¥270 billion forecast as of the end of the second quarter, both based on the Company's estimates. For maintenance-related projects, however, the forecast has declined to ¥250 billion from ¥290 billion as of the end of the second quarter, also based on the Company's estimate. Although total awards are expected to decline, projects continue to be awarded at a steady pace.」
Although the outlook for new-construction orders was raised to ¥275 billion, the outlook for maintenance orders was lowered from ¥290 billion to ¥250 billion, resulting in an expected overall decline in the order market. - FY2024-Q2Lower order market, but recovery in order progressAnnual report
「Meanwhile, although the projected order market for the current fiscal year in the Group's core bridge business, including road and railway bridges, was trending slightly lower at ¥270 billion for new construction and ¥290 billion for maintenance, sufficient budgets had been secured. Total orders during the second quarter cumulative consolidated period were approximately 33% on a contract basis and approximately 55% on a public-notice basis, and although somewhat behind schedule, orders were progressing at a pace ahead of the previous fiscal year.」
Although the projected current-year order market for new construction and maintenance was said to be trending slightly lower, budgets had been secured, and orders during the second quarter cumulative period progressed to 33% on a contract basis and 55% on a public-notice basis, exceeding the pace of the previous fiscal year despite the delay. - FY2024-Q1MaterialisedAnnual report
「However, order volumes by value during the first quarter cumulative consolidated period were less than half of the level in the same period two years earlier and down 15% year on year, based on the Company's calculations in both cases. The timing of orders was delayed overall, and order volumes are expected to increase in the second half of the fiscal year.」
Although annual orders were expected to be at levels similar to the previous and the year-before-previous fiscal years, first-quarter orders were less than half of the level in the same period two years earlier and down 15% year on year, indicating that delays in the timing of orders had actually occurred. - FY2023WorsenedAnnual report
「Even under these circumstances, the Group's core bridge business was expected to receive orders in fiscal 2023 at roughly the same level as the previous fiscal year, comprising ¥280 billion for new construction and ¥320 billion for large-scale renewal and maintenance, according to the Company's estimates.」
Orders related to large-scale renewal and maintenance were expected to total ¥320 billion, while the outlook for new-construction orders was ¥280 billion, down from approximately ¥300 billion in the previous fiscal year. - FY2023-Q3MitigatedAnnual report
「In the Group's core bridge business, including road and railway bridges, total orders during the third quarter cumulative consolidated period reached more than 60% of the projected current-year order market for new construction of ¥300 billion and more than 80% of the projected maintenance order market of ¥320 billion, on a contract and public-notice basis, respectively, and the delay as of the end of September is being steadily recovered.」
The projected current-year order market for new construction and maintenance remained solid, and total orders progressed to more than 60% on a contract basis and more than 80% on a public-notice basis, with the delay as of the previous quarter gradually being recovered. The risk related to the timing of orders weakened from the previous quarter, although a delay did occur. - FY2023-Q2MaterialisedAnnual report
「The projected order market for the current fiscal year in the Group's core bridge business, including road and railway bridges, also remained solid, at ¥320 billion for new construction and ¥350 billion for maintenance, but during the second quarter cumulative consolidated period, total orders were somewhat behind schedule, at approximately 30% on a contract basis and approximately 50% on a public-notice basis.」
Although the annual projected order market for new construction and maintenance remained solid, total orders during the second quarter cumulative period were somewhat behind schedule on both a contract and public-notice basis, indicating that risks related to the timing and volume of orders had materialized. - FY2023-Q1MitigatedAnnual report
「In the Group's business environment, domestic public investment remains solid. In its core bridge business, orders for new bridges are expected to increase from the previous fiscal year, while high levels of orders for large-scale renewal projects by expressway companies are also expected to continue.」
Domestic public investment remained solid, orders for new bridges were expected to increase year on year, and high levels of orders for large-scale renewal projects were also expected to continue. The risk related to order volumes was described as trending lower. - FY2022-Q3RestatedAnnual report
「Although public investment remained solid, total orders placed in the Group's core bridge business, including road and railway bridges, showed signs of recovery during the third quarter cumulative consolidated period from the second-quarter results and exceeded the results for the same period of the previous year.」
Public investment remained solid, and total orders in the bridge business showed signs of recovery from the second-quarter results and exceeded the results for the same period of the previous year. The lower level of risk related to order volumes continues. - FY2022-Q2MitigatedAnnual report
「Although public investment remained solid, total orders placed in the Group's core bridge business, including road and railway bridges, showed signs of recovery during the second quarter cumulative consolidated period from the first-quarter results and exceeded the results for the same period of the previous year.」
Total orders in the bridge business showed signs of recovery from the first-quarter results and exceeded the results for the same period of the previous year, so the risk related to order volumes weakened from the previous quarter. - FY2022-Q1RestatedAnnual report
「Although public investment remained solid, total orders placed in the Group's core bridge business, including road and railway bridges, showed signs of recovery during the first quarter cumulative consolidated period but remained sluggish, as in the same period of the previous year.」
Public investment remained solid, while total orders in the bridge business showed signs of recovery but were said to remain sluggish, as in the same period of the previous year, and the risk related to order volumes continued to be recognized. - FY2021RestatedAnnual report
「Although public investment remained solid, total orders placed in the Group's core bridge business, including road and railway bridges, showed signs of recovery this fiscal year but remained sluggish, as in the previous fiscal year.」
Public investment remained solid, while total bridge orders showed signs of recovery but were said to remain sluggish, as in the previous fiscal year, indicating that order-volume risk continues. - FY2021-Q3WorsenedAnnual report
「Although public investment remained solid, orders placed in the Group's core bridge business, including road and railway bridges, showed signs of recovery during the third quarter cumulative consolidated period but remained sluggish, as in the previous year.」
Although order volumes were said to be recovering, they were described as remaining sluggish, as in the previous year, again highlighting the weakness of the order environment after the increase in order volumes indicated in the previous quarter. - FY2021-Q2MitigatedAnnual report
「Although public investment remained solid, orders placed in the Group's core bridge business, including road and railway bridges, increased year on year during the second quarter cumulative consolidated period.」
Public investment remained solid and second-quarter cumulative orders in the bridge business increased year on year, so the risk related to order volumes weakened from the sluggish conditions in the previous quarter. - FY2021-Q1MaterialisedAnnual report
「Although public investment remained solid, orders placed in the Group's core bridge business, including road and railway bridges, remained sluggish during the first quarter cumulative consolidated period, despite large-scale projects being scheduled to be ordered from the second quarter onward.」
Public investment remained solid, while first-quarter order volumes were sluggish as large-scale projects were scheduled to be ordered from the second quarter onward, indicating that risks related to the timing and volume of orders had materialized. - FY2020MaterialisedAnnual report
「Although public investment remained solid, total orders placed in the Group's core bridge business, including road and railway bridges, declined significantly year on year this fiscal year.」
Public investment remained solid, while total annual orders for bridges were said to have declined significantly year on year, indicating that the risk of fluctuations in order volumes had materialized in the year's results. - FY2020-Q3MaterialisedAnnual report
「Although public investment remained solid, total orders placed in the Group's core bridge business, including road and railway bridges, are expected to decline this fiscal year because it is a transitional period, and orders placed during the third quarter cumulative consolidated period declined year on year.」
The expected decline in total orders placed due to the transitional period materialized as a year-on-year decline in orders placed during the third quarter cumulative period. - FY2020-Q2MaterialisedAnnual report
「Although public investment remained solid, total orders placed in the Group's core bridge business, including road and railway bridges, are expected to decline this fiscal year because it is a transitional period, and orders placed during the second quarter cumulative consolidated period declined year on year.」
Total orders placed this fiscal year were expected to decline because of the transitional period, and orders placed during the second quarter cumulative period also declined year on year. - FY2020-Q1MaterialisedAnnual report
「Although public investment remained solid, this fiscal year is expected to be a transitional period for the Group's core bridge business, including road and railway bridges, with order volumes expected to decline, particularly as large-scale projects are scheduled to be ordered in the second half of the fiscal year. As a result, total orders placed during the first quarter cumulative consolidated period declined significantly year on year.」
This fiscal year was viewed as a transitional period, with large-scale projects scheduled to be ordered in the second half, while total orders placed during the first quarter declined significantly year on year. The risk of declining order volumes has materialized in the results. - FY2019-Q3RestatedAnnual report
「In the Group's core bridge business, including road and railway bridges, public investment remained solid, while total orders placed during the third quarter cumulative consolidated period increased year on year.」
The view that public investment remained solid and total orders placed also increased year on year continues. - FY2019-Q2RestatedAnnual report
「In the Group's core bridge business, including road and railway bridges, public investment remained solid, while total orders placed during the second quarter cumulative consolidated period increased year on year.」
The view that public investment remained solid and total orders placed also increased year on year continues. - FY2019-Q1RestatedAnnual report
「In the Group's core bridge business, including road and railway bridges, public investment remained solid, while total orders placed during the first quarter cumulative consolidated period increased year on year.」
The view that public investment remained solid and total orders placed also increased year on year was reiterated. - FY2018MitigatedAnnual report
「Public investment remained solid, while total orders placed during the fiscal year increased year on year, although intense competition for orders continues.」
Public investment remained solid and total orders placed increased year on year, so risks related to public investment and order volumes weakened from the previous year. Competition for orders, however, continues. - FY2018-Q3RestatedAnnual report
「In the Group's core bridge business, including road and railway bridges, public investment remained solid, while total orders placed during the third quarter cumulative consolidated period increased year on year, although intense competition for orders continues.」
Public investment remained solid and total orders placed increased year on year, while competition for orders continues to be intense. - FY2018-Q2MitigatedAnnual report
「In the Group's core bridge business, including road and railway bridges, public investment remained solid, while total orders placed during the second quarter cumulative consolidated period increased year on year, although intense competition for orders continues.」
Public investment remained solid and total orders placed during the first half increased year on year, so risks related to public investment and order volumes weakened from the previous quarter. Competition for orders, however, continues. - FY2018-Q1RestatedAnnual report
「In the Group's core bridge business, including road and railway bridges, public investment remained flat, while total orders placed during the first quarter cumulative consolidated period increased only slightly year on year and remained at a low level, and the challenging business environment continues.」
Public investment remained flat, and although total orders placed increased slightly year on year, they remained at a low level, indicating that the challenging order environment continues. - FY2017WorsenedAnnual report
「In the Group's core bridge business, including road and railway bridges, public investment remained flat, while total orders placed during the fiscal year were at a low level below the previous year, resulting in a challenging business environment.」
Although public investment was said to be flat, total orders placed during the year were at a low level below the previous year, confirming the challenging order environment in the year's results. - FY2017-Q3RestatedAnnual report
「In the group's core bridge business, including road and railway bridges, public investment remained broadly flat. Although front-loaded orders were expected to increase total orders during the cumulative consolidated third-quarter period, they declined year on year, competition for orders remained fierce, and the business environment was challenging.」
The description of public investment changed from the previous quarter's "gradual downward trend" to "remaining broadly flat," but total orders declined year on year and competition for orders remained challenging. - FY2017-Q2WorsenedAnnual report
「In the group's core bridge business, including road and railway bridges, public investment was on a gradual downward trend. Although front-loaded orders were expected to increase total orders in the first half, they declined year on year, competition for orders remained fierce, and the business environment was challenging.」
In addition to the gradual downward trend in public investment, total orders in the first half were described as having declined year on year, indicating a deterioration in the business environment from the previous quarter's increase in total orders. - FY2017-Q1RestatedAnnual report
「In the group's core bridge business, including road and railway bridges, public investment was on a gradual downward trend. Although total orders during the cumulative consolidated first-quarter period increased year on year, the number of projects ordered declined as projects became larger, competition for orders remained fierce, and the business environment was challenging.」
Public investment was described as being on a gradual downward trend, and the number of projects ordered had also declined as projects became larger. Meanwhile, total order volume increased year on year. - FY2016First statedAnnual report
「The group's core business is steel structures such as bridges, and is centered on public works. Depending on trends in the fiscal policies of the national and local governments, order volumes and amounts may be constrained, causing order volumes and unit prices to decline and potentially affecting business performance.」
Against the backdrop of a business structure centered on public works, the company identifies declines in order volumes and unit prices resulting from national and local government fiscal policy as a risk.