Corporate restraint on digitalization investment amid worsening economic conditions
First written in FY2016. 15 of 33 entries say "Restated". Latest entry: 2026-05-15.
Ncd moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2020: 16 of 36 companies on the "Worse" side.
51 other companies' latest entry also says "Restated".
- 2026-05-15RestatedEarnings
「Meanwhile, the outlook remains uncertain due to the effects of rising prices, exchange-rate fluctuations, U.S. trade policy, the situation in the Middle East and other factors.」
Uncertainty about the outlook due to rising prices, exchange-rate fluctuations, U.S. trade policy and the situation in the Middle East has continued. - FY2026-H1RestatedAnnual report
「Meanwhile, conditions remained uncertain going forward due to the effects of rising prices, exchange-rate fluctuations, U.S. trade policies and other factors.」
Inflation, exchange-rate volatility and uncertainty over U.S. trade policy continue. No material changes were identified in business and other risks. - FY2025WorsenedAnnual report
「In Japan during the fiscal year ending March 2026, wage increases are expected to continue against the backdrop of persistent labor shortages and a tight labor market. At the same time, the outlook is expected to remain extremely uncertain due to instability in financial and capital markets resulting from U.S. trade policies and other factors, an increasing risk of a slowdown in the global economy, rising resource prices and other factors.」
In addition to the existing factors contributing to uncertainty, including overseas economic conditions, exchange rates and resource prices, U.S. trade policies, a slowdown in the global economy, labor shortages and wage increases were specified as business-environment factors. - FY2025-H1External Environment Risks UpdatedAnnual report
「Meanwhile, conditions remained uncertain going forward due to the risk of a downturn in overseas economies, developments surrounding the Middle East and Ukraine, rising prices, exchange-rate fluctuations and other factors.」
Although no material changes were identified in business or other risks, the description of the business environment identified a downturn in overseas economies, developments surrounding the Middle East and Ukraine, rising prices and exchange-rate fluctuations as factors contributing to uncertainty about the outlook. - FY2024New Infectious Disease and Supply Constraint Risks IdentifiedAnnual report
「Following the change in the legal classification of COVID-19 from equivalent to Category II to Category V under the Infectious Diseases Control Law, various restrictions on activities were lifted and a full-scale economic recovery is expected. However, if restrictions on activities are imposed due to the emergence of a new infectious disease or other factors, this could adversely affect the parking systems business, in particular. In addition, soaring raw-material prices and supply constraints resulting from global instability and exchange-rate fluctuations could adversely affect the parking systems business and worsen the Company Group’s operating results and financial condition.」
While expectations for an economic recovery following the lifting of restrictions on activities were expressed, new infectious diseases, global instability, exchange-rate fluctuations, soaring raw-material prices and supply constraints were identified as risks. - FY2024-Q2Normalization of Socioeconomic Activity Coexists with Price and Foreign-Exchange RisksAnnual report
「The normalization of socioeconomic activity progressed further following the reclassification of COVID-19 as Category V under the Infectious Diseases Control Law, and the economy showed signs of a moderate recovery. However, conditions remained uncertain going forward due to the prolonged situation in Ukraine, soaring raw-material prices and rapid exchange-rate fluctuations.」
While the change in the legal classification of COVID-19 supported further normalization of socioeconomic activity, uncertainty due to the situation in Ukraine, soaring raw-material prices and rapid exchange-rate fluctuations persisted. - FY2024-Q1Recovery After Easing of Restrictions Coexists with Price and Foreign-Exchange RisksAnnual report
「During the three-month period ended 30 June 2023, the Japanese economy showed signs of a moderate recovery as socioeconomic activity recovered following the easing of various restrictions, including the reclassification of COVID-19 under the Infectious Diseases Control Law from Category II to Category V. However, conditions are expected to remain uncertain going forward due to the prolonged situation in Ukraine, soaring raw-material prices and rapid exchange-rate fluctuations.」
While the change in the legal classification of COVID-19 and the easing of restrictions supported a recovery in socioeconomic activity, uncertainty about the outlook due to the situation in Ukraine, soaring raw-material prices and rapid exchange-rate fluctuations also persisted. - FY2023Lifting of COVID-19 Restrictions Coexists with Risks from Surging Prices and Resource CostsAnnual report
「Following the change in the legal classification of COVID-19 from equivalent to Category II to Category V under the Infectious Diseases Control Law, various restrictions on activities were lifted and a full-scale economic recovery is expected. However, a renewed spread of infections due to new variants could adversely affect the parking systems business, in particular. Soaring raw-material prices and supply constraints associated with the situation in Ukraine could also adversely affect the parking systems business and worsen the Company Group’s operating results and financial condition.」
While expectations for an economic recovery following the lifting of restrictions on activities were expressed, renewed infections, soaring raw-material prices and supply constraints continued to be identified as risks. - FY2023-Q3WorsenedAnnual report
「During the nine-month period ended 31 December 2022, the Japanese economy showed signs of a moderate recovery, partly because awareness increased regarding the need to balance measures against COVID-19 with socioeconomic activity. However, conditions remained uncertain going forward due to another spread of infections from October, rapid yen depreciation resulting from monetary tightening policies in the United States and elsewhere, soaring raw-material prices against the backdrop of the situation in Ukraine and other factors, and supply constraints.」
While socioeconomic activity showed a moderate recovery, another spread of infections from October, rapid yen depreciation associated with monetary tightening in the United States, soaring raw-material prices and supply constraints emerged as factors contributing to uncertainty about the outlook. - FY2023-Q2Recovery Amid Resurgent Infections Coexists with Supply ConstraintsAnnual report
「During the six-month period ended [the second quarter] of the current consolidated fiscal year, the Japanese economy showed signs of a moderate recovery despite the resurgence of COVID-19, partly because awareness increased regarding the need to balance measures against COVID-19 with socioeconomic activity. However, conditions remained uncertain going forward due to the rapid depreciation of the yen, soaring raw-material prices against the backdrop of the situation in Ukraine and other factors, and supply constraints.」
While socioeconomic activity showed a moderate recovery despite the resurgence of COVID-19, uncertainty about the outlook due to rapid yen depreciation, soaring raw-material prices and supply constraints continued. - FY2023-Q1WorsenedAnnual report
「However, in addition to the rapid depreciation of the yen, soaring raw-material prices and supply constraints resulting from the situation in Ukraine and other factors, the recent resurgence of COVID-19 infections means that conditions are expected to remain uncertain for the time being.」
In addition to the existing risks of economic deterioration, infectious disease and soaring resource prices, rapid yen depreciation, supply constraints and a resurgence of infectious disease were identified simultaneously, making the factors contributing to uncertainty in the business environment more specific. - FY2022WorsenedAnnual report
「If COVID-19 infections spread again due to the emergence of new variants or waning vaccine effectiveness, or if resource prices rise amid the situation in Ukraine and material shortages, including semiconductors, increase the cost of materials for bicycle-parking-related equipment, these factors could adversely affect the parking systems business and further worsen the Company Group’s operating results and financial condition.」
In addition to the existing risks of economic deterioration and infectious disease, soaring resource prices amid the situation in Ukraine, shortages of materials including semiconductors, and higher material costs were added and specified as risks to the parking systems business. - FY2022-Q3WorsenedAnnual report
「During the nine-month period ended [the third quarter] of the current consolidated fiscal year, the Japanese economy showed signs of a temporary recovery after the states of emergency and other measures imposed due to the spread of COVID-19 were lifted at the end of September 2021. However, the spread of new variants and other factors led to renewed uncertainty about the outlook.」
Although signs of a temporary recovery emerged after the states of emergency and other measures were lifted, uncertainty about the outlook intensified again as new variants spread. - FY2022-Q2RestatedAnnual report
「During the six-month period ended [the second quarter] of the current consolidated fiscal year, the Japanese economy remained in a difficult situation as the spread of COVID-19 led to partial restrictions on socioeconomic activity, including the issuance of states of emergency. Although the states of emergency and other measures were lifted at the end of September 2021, conditions remained uncertain going forward.」
Although states of emergency and other measures were lifted after restrictions on socioeconomic activity due to COVID-19 continued, uncertainty about the outlook for the economy and corporate activity persisted. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified in the risks related to economic deterioration or companies’ curtailment of IT investment. - FY2021Update: Curtailment of IT Investment During the Pandemic and Demand for DXAnnual report
「Under these circumstances, within the information services industry to which the Company Group belongs, some companies curtailed IT investment as the economy slowed, while the number of companies pursuing DX (digital transformation) continued to increase in response to changes in the working environment and with a view to medium- and long-term growth.」
For the full fiscal year, the business environment was again described as one in which curtailed IT investment due to the economic slowdown coexists with an increase in companies pursuing DX. - FY2021-Q3Accelerating Demand for Digital TransformationAnnual report
「Under these circumstances, within the information services industry to which the Company Group belongs, some companies have adopted a cautious stance toward IT investment as the economy slows, while efforts toward DX (digital transformation) are accelerating.」
The acceleration of efforts toward DX was newly identified as a factor coexisting with the curtailment of IT investment due to the economic slowdown. - FY2021-Q2RestatedAnnual report
「While some companies have adopted a cautious stance toward IT investment as the economy slows, demand for automation and labor-saving solutions to improve productivity amid changes in the working environment, as well as demand to renew legacy core systems, has kept interest in IT investment resilient.」
The recognition that the economic slowdown and curtailed IT investment caused by the pandemic coexist with resilient IT demand for automation, labor-saving solutions and core-system renewals has continued. - FY2021-Q1IT Investment Curtailment Coexists with Resilient DemandAnnual report
「Against this economic backdrop, within the information services industry to which the Company Group belongs, some companies have adopted a cautious stance toward IT investment as the economy deteriorates. At the same time, demand for automation and labor-saving solutions to improve productivity amid changes in the working environment, as well as demand to renew legacy core systems, has kept interest in IT investment resilient.」
While some companies curtailed IT investment due to the economic deterioration caused by the pandemic, demand for automation, labor-saving solutions and legacy core-system renewals remained resilient, presenting a mixed business environment. - FY2020MaterialisedAnnual report
「The decline in demand for bicycle parking facilities due to the effects of COVID-19 became apparent in March 2020 and is expected to have a material impact on the Company Group’s operating results and financial position for the fiscal year ending March 2021.」
In addition to the existing risks of economic deterioration and curtailed corporate IT investment, the decline in demand for bicycle parking facilities due to COVID-19 became apparent in practice from March 2020. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of companies curtailing information technology investment as a result of economic deterioration. - FY2019WorsenedAnnual report
「In addition, if redevelopment projects, commercial facility renovations and other activities are curtailed due to a post-event economic downturn following the 2020 Tokyo Olympic and Paralympic Games, this could affect the operating results and financial condition of the Company’s parking systems business.」
In addition to the existing risks of economic deterioration and curtailed IT investment, the potential impact of the post-2020 Games economic downturn on the parking business was explicitly stated. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of companies curtailing information technology investment as a result of economic deterioration. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified in the risk of companies curtailing information technology investment as a result of economic deterioration. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No material changes were identified in the risk of companies curtailing information technology investment as a result of economic deterioration. - FY2018RestatedAnnual report
「The Group’s business may be adversely affected in terms of operating performance and financial condition if companies curtail investment in information technology because of deteriorating economic conditions.」
The risk of companies curtailing information technology investment as a result of economic deterioration continues to be described. - FY2018-Q3RestatedAnnual report
「During the nine-month period ended [the third quarter] of the current consolidated fiscal year, the Japanese economy remained on a moderate recovery path amid continued improvements in corporate earnings and employment and income conditions. At the same time, attention was required regarding the impact of financial and capital market volatility, geopolitical risks and other uncertainties in overseas economies, and uncertainty about the outlook continued.」
While the domestic economy remained on a recovery path, uncertainty about the outlook due to financial and capital market volatility, geopolitical risks and uncertainty in overseas economies continued. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No material changes were identified in the risks related to economic deterioration or companies’ curtailment of information technology investment. - FY2018-Q1RestatedAnnual report
「During the three-month period ended [the first quarter] of the current consolidated fiscal year, the Japanese economy remained on a moderate recovery path, supported by improvements in corporate earnings and employment conditions. However, concerns over U.S. policy developments and heightened global geopolitical risks meant that conditions remained uncertain going forward.」
While corporate earnings and employment conditions have improved, uncertainty about the outlook due to U.S. policy developments and geopolitical risks has continued. - FY2017WorsenedAnnual report
「During the current consolidated fiscal year, the Japanese economy remained on a moderate recovery path, supported by continued improvements in employment and income conditions. However, amid heightened geopolitical risks in Europe, the Middle East, East Asia and other regions, the global economy as a whole remained uncertain going forward.」
Heightened geopolitical risks and uncertainty about the outlook for the global economy were described as external environmental factors related to the risk of companies curtailing information technology investment. - FY2017-Q3RestatedAnnual report
「During the nine-month period ended [the third quarter] of the current consolidated fiscal year, the Japanese economy remained on a moderate recovery path, supported by continued improvements in employment and income conditions. However, concerns remained over the effects of a slowdown in emerging-market economies and uncertainty surrounding the policies of the new U.S. administration, and conditions remained uncertain going forward.」
Uncertainty about the outlook due to the slowdown in emerging-market economies and other factors has continued. Uncertainty surrounding the policies of the new U.S. administration was also described as a new concern. - FY2017-Q2RestatedAnnual report
「Corporate earnings deteriorated amid the stronger yen and a slowdown in emerging-market economies, slowing the pace of recovery in capital investment, and conditions remained uncertain going forward.」
The stronger yen, the slowdown in emerging-market economies, and the slower recovery in capital investment were described as business-environment factors, while no material changes were identified in business or other risks. - FY2016First statedAnnual report
「The Group’s business may be adversely affected in terms of operating performance and financial condition if companies curtail investment in information technology because of deteriorating economic conditions.」
Economic deterioration may affect performance and financial condition by causing customers to reduce IT investment.