Dependence on the cement, construction and capital investment markets
First written in FY2016. 20 of 37 entries say "Restated". Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026WorsenedAnnual report
「Sales of bricks for cement manufacturing equipment and engineering services, for which Japan's construction industry is the end user, account for approximately 40% of the Group's total sales.」
The proportion of sales for which Japan's construction industry is the end user was specified as approximately 40%, up from approximately 30%, highlighting the greater extent of the company's dependence. - FY2026-H1MaterialisedAnnual report
「Revenue in the building-materials and paving-materials business was below the same interim period of the prior year, partly due to the decline in construction demand in the Kansai region associated with Expo 2025 Osaka, Kansai, but profit exceeded the same interim period of the prior year as a result of measures including the promotion of price revisions.」
The risk associated with dependence on construction-related demand materialized, with the decline in construction demand in the Kansai region becoming a factor behind lower revenue in the building-materials and paving-materials business. - FY2025-H1RestatedAnnual report
「In the refractory business focused mainly on serving the cement industry, the company was operating in challenging conditions as the downward trend in domestic cement production continued,」
The downward trend in domestic production of cement, the main market, continued, and the company continued to describe the challenging business environment resulting from market dependence. - FY2024WorsenedAnnual report
「Sales of bricks for cement manufacturing equipment and engineering services, for which Japan's construction industry is the end user, account for approximately 30% of the Group's total sales. The Group aims to shift to a business structure less dependent on trends in Japan's construction industry by expanding overseas sales channels and strengthening its plant business, but fluctuations in cement demand in Japan's construction industry could have a certain impact on the Group's financial position and operating results.」
The company formally identified its dependence on Japan's construction industry, which accounts for approximately 30% of total sales, as a risk item, and cited the expansion of overseas sales channels and strengthening of the plant business as measures to shift its business structure. - FY2024-Q3WorsenedAnnual report
「Under these conditions, the refractory business was operating in a challenging environment as domestic cement production for its core cement-industry operations remained below the prior-year level for the 18th consecutive month,」
The decline in domestic production of cement, the main market, extended from 14 consecutive months in the previous quarter to 18 consecutive months, and the deterioration in the business environment associated with market dependence continued. - FY2024-Q2WorsenedAnnual report
「In the refractory business, domestic cement production for the core cement-related operations remained below the prior-year level for the 14th consecutive month, also affecting the business,」
The decline in domestic production of cement, the main market, extended from 11 consecutive months in the previous quarter to 14 consecutive months. - FY2024-Q1WorsenedAnnual report
「The refractory business, focused mainly on serving the cement industry, was operating as domestic cement production remained below the prior-year level for the 11th consecutive month,」
While the company remains dependent on the cement industry, its main customer, domestic cement production fell short of the prior-year level for the 11th consecutive month, indicating a deterioration in the risk associated with market dependence. - FY2023WorsenedAnnual report
「As the Company's refractory business is focused primarily on the cement market, it may be significantly affected by trends in Japan's construction industry and government public-works policies. In addition, demand in the steel market, which has accounted for much of refractory demand in recent years, is trending downward. If price competition and other factors intensify as a result of new entrants into the cement market, this could affect the Group's financial position and operating results.」
Domestic cement production fell short of the prior-year level for 8 consecutive months on a fiscal-year basis. The company also explicitly stated that sales to Japan's construction industry account for approximately 25% of total sales, making its dependence structure and price-competition risk more specific. - FY2023-Q3WorsenedAnnual report
「Under these conditions, the refractory business, focused mainly on serving the cement industry, was operating as domestic cement production remained below the prior-year level for the sixth consecutive month,」
While the company remains dependent on the cement industry, its main customer, domestic cement production falling short of the prior-year level extended from 2 consecutive months and then 3 consecutive months to 6 consecutive months, prolonging the deterioration in the business environment caused by market dependence. - FY2023-Q2WorsenedAnnual report
「Under these conditions, the refractory business, focused mainly on serving the cement industry, was operating as domestic cement production remained below the prior-year level for the third consecutive month,」
While the company remains dependent on the cement industry, its main customer, domestic cement production falling short of the prior-year level extended from 2 consecutive months to 3 consecutive months. - FY2023-Q1RestatedAnnual report
「The refractory business, focused mainly on serving the cement industry, was operating as domestic cement production remained below the prior-year level for the second consecutive month,」
The company remains dependent on the cement industry, its main customer, and domestic cement production continues to fall short of the prior-year level. - FY2022RestatedAnnual report
「As the Company's refractory business is focused primarily on the cement market, it may be significantly affected by government public-works policies and trends in the construction industry. The plant business may also be significantly affected by capital investment trends, while the building-materials and paving-materials businesses may be significantly affected by public-works trends. In addition, demand in the steel market, which has accounted for much of refractory demand in recent years, is trending downward. If price competition and other factors intensify as a result of new entrants into the cement market, this could affect the performance of the Group.」
The company continues to identify its dependence on market trends in cement, steel, capital investment and public works, as well as the risk of intensified price competition. - FY2022-Q3RestatedAnnual report
「Under these circumstances, domestic cement production declined for the second consecutive month. Sales in the refractories business exceeded the same quarter of the previous year, partly due to the effects of acquiring new customers, but profit fell significantly below the same quarter of the previous year due to higher raw material and fuel prices and intensifying price competition.」
Domestic cement production continued to decline, and the company remains dependent on the cement market, its main customer. However, revenue in the refractory business exceeded the prior-year period as a result of developing new customers. - FY2022-Q2RestatedAnnual report
「Although domestic cement production remained below the same quarter of the prior year for the third consecutive month, revenue and profit both exceeded the same quarter of the prior year as a result of efforts to develop new customers and reduce costs through productivity improvements.」
Domestic cement production continued to fall short of the prior-year level, and the company remains dependent on its main customer market, but the refractory business reported higher revenue and profit. - FY2022-Q1RestatedAnnual report
「Under these conditions, domestic cement sales volumes in the refractory business, focused mainly on serving the cement industry, remained below the prior-year level for the second consecutive month,」
The company remains dependent on the cement industry, its main customer, and domestic sales volumes continue to fall short of the prior-year level. It stated that there had been no material changes to the business-related risks. - FY2021WorsenedAnnual report
「Under these conditions, the refractory business, focused mainly on serving the cement industry, was operating as domestic cement production declined for the second consecutive year,」
Domestic cement production fell short of the prior-year level for the second consecutive year, and the impact on performance associated with dependence on the main market has continued and become more pronounced. - FY2021-Q3RestatedAnnual report
「Under these conditions, domestic cement demand in the refractory business, focused mainly on serving the cement industry, remained below the same quarter of the prior year. Although the company actively pursued new-customer development and various cost reductions, including productivity improvements, both revenue and profit were below the same quarter of the prior year. In the plant business, both revenue and profit were below the same quarter of the prior year, partly due to the deterioration in corporate earnings and the postponement of capital investment plans.」
Domestic cement demand remained below the prior-year level, and the postponement of capital investment plans accompanying the deterioration in corporate earnings continued, resulting in an ongoing impact on performance from dependence on the market. - FY2021-Q2RestatedAnnual report
「Under these conditions, domestic cement production and sales volumes in the refractory business, focused mainly on serving the cement industry, remained below the same quarter of the prior year. Although the company worked to develop new customers and reduce costs through productivity improvements, both revenue and profit were below the same quarter of the prior year. In the plant business, both revenue and profit were below the same quarter of the prior year, partly due to the postponement of capital investment plans accompanying the deterioration in corporate earnings.」
Cement production and sales volumes continued to fall short of the prior-year level, while the postponement of capital investment plans accompanying the deterioration in corporate earnings also affected the plant business. The company stated that there had been no material changes to the business-related risks arising from its dependence on the market. - FY2021-Q1RestatedAnnual report
「The refractory business, focused mainly on serving the cement industry, reported lower revenue than in the same quarter of the prior year, partly because domestic cement production and sales volumes declined year on year.」
The company remains dependent on the cement industry, its main customer, and the year-on-year decline in domestic production and sales volumes was a factor behind the refractory business's lower revenue. - FY2020WorsenedAnnual report
「In addition, demand in the steel market, which has accounted for much of refractory demand in recent years, is trending downward. If price competition and other factors intensify as a result of new entrants into the cement market, this could affect the performance of the Group.」
In addition to its traditional dependence on cement, capital investment and public works, the company newly identifies the downward trend in steel-market demand and the possibility of intensified price competition resulting from new entrants into the cement market. - FY2020-Q3RestatedAnnual report
「The refractory business, focused mainly on refractories for the cement industry, was affected by domestic cement production remaining below the prior-year level,」
The company remains dependent on the cement industry, its main customer, and domestic cement production continues to fall short of the prior-year level. It stated that there were no material changes to the risks related to its business. - FY2020-Q2RestatedAnnual report
「The refractory business, focused mainly on serving the cement industry, was affected by domestic cement sales trending slightly below the prior year,」
The company explains that its dependence on the cement industry, its main customer, continues, while domestic cement sales were slightly below the prior year. - FY2020-Q1RestatedAnnual report
「The refractory business, focused mainly on serving the cement industry, was affected by domestic cement sales trending slightly below the prior year,」
The company explains that its dependence on the cement industry, its main customer, continues, while domestic cement sales were slightly below the prior year. - FY2019-Q3RestatedAnnual report
「The cement industry, our main customer, amid domestic cement demand remaining broadly flat,」
The company explains that its dependence on the cement industry, its main customer, continues, while domestic demand is broadly flat. - FY2019-Q2RestatedAnnual report
「The cement industry, our main customer, amid domestic cement demand remaining broadly flat,」
The company remains dependent on the cement industry, its main customer, and describes domestic demand as broadly flat. No new business or other risks or significant changes were identified. - FY2019-Q1RestatedAnnual report
「The cement industry, our main customer, amid domestic cement demand remaining broadly flat year on year,」
The company remains dependent on the cement industry, its main customer, and describes cement demand as broadly flat year on year. - FY2018RestatedAnnual report
「Because our refractory business is primarily geared toward the cement market, it may be significantly affected by government public-works policies and trends in the construction industry. Our plant business is also highly exposed to capital investment trends, while the Building Materials and Paving Materials business is highly exposed to public-works trends, and these factors may affect the performance of our Group.」
Dependence on cement, capital investment and public works continues to be identified as a business risk. Domestic cement sales volumes are described as being roughly in line with the previous year, and no disappearance of the risk itself is indicated. - FY2018-Q3MitigatedAnnual report
「Domestic cement demand has been supported by demand from Olympic-related construction and redevelopment projects in the Tokyo metropolitan area and has been running ahead of the previous fiscal year, resulting in higher revenue than in the same quarter of the previous fiscal year.」
Supported by Olympic-related construction and redevelopment projects in the Tokyo metropolitan area, domestic cement demand has been running ahead of the previous fiscal year, indicating continued improvement in market conditions. - FY2018-Q2MitigatedAnnual report
「The Refractories business, which is centered on refractories for the cement industry, reported a slight increase in revenue from the same quarter of the previous fiscal year as domestic cement demand remained on a positive trend this fiscal year, supported by demand from Olympic venue construction and large-scale redevelopment projects.」
Domestic cement demand remained on a positive trend, supported by Olympic venue construction and large-scale redevelopment projects, indicating an improved environment surrounding the risk associated with dependence on the market. - FY2018-Q1RestatedAnnual report
「Although public works and construction starts have remained strong nationwide in the cement industry, our main customer, revenue and profit in the Refractories business both fell below the same quarter of the previous fiscal year, despite efforts to improve productivity and reduce costs, partly due to soaring raw-material costs.」
The company discusses construction-related demand, including that of the cement industry, its main customer, but states that there have been no significant changes in business or other risks. - FY2017MitigatedAnnual report
「The Refractories business, which is centered on refractories for the cement industry, saw revenue fall slightly below the previous fiscal year amid signs of a bottoming-out in the market, including domestic cement sales volumes remaining above the same month of the previous year since November 2016.」
Domestic cement sales volumes have been above the same month of the previous year since November 2016, indicating signs of a bottoming-out in the environment surrounding the risk associated with dependence on the market. However, the Refractories business reported lower revenue. - FY2017-Q3MitigatedAnnual report
「The Refractories business, which is centered on refractories for the cement industry, saw revenue decline slightly from the same quarter of the previous fiscal year amid signs of a bottoming-out in the market, including domestic cement demand turning positive for the first time in 26 months.」
The risk of a deterioration in market conditions showed some improvement as domestic cement demand turned positive for the first time in 26 months, indicating signs of a bottoming-out. However, revenue in the Refractories business fell below the same period of the previous fiscal year. - FY2017-Q2RestatedAnnual report
「The cement industry remains in a difficult environment, with ready-mixed concrete shipments nationwide below the same month of the previous year for 23 consecutive months, and revenue declined from the same quarter of the previous fiscal year as a result.」
The prolonged weakness in the cement industry, our main customer, was reflected in ready-mixed concrete shipments remaining below the previous year's level for 23 consecutive months, and the risk of dependence on the cement market continued to affect performance. - FY2017-Q1RestatedAnnual report
「In the cement industry, our main customer, domestic cement production and sales volumes both remain below the same month of the previous year, and difficult conditions continue.」
The continued weakness in production and sales in the cement industry, our main customer, was confirmed, and the risk associated with dependence on the market was reiterated. - FY2016First statedAnnual report
「Because our refractory business is primarily geared toward the cement market, it may be significantly affected by government public-works policies and trends in the construction industry. Our plant business is also highly exposed to capital investment trends, while the Building Materials and Paving Materials business is highly exposed to public-works trends, and these factors may affect the performance of our Group.」
During the current period, lower domestic cement production and sales, the capital investment environment and delays in the start of public-works projects affected the performance of each business.